DEPOSIT AGREEMENT (Class A) Dated as of July 7, 2009 between U.S. BANK NATIONAL ASSOCIATION as Escrow Agent and THE BANK OF NEW YORK MELLON as Depositary
Exhibit 4.5
EXECUTION COPY
DEPOSIT AGREEMENT
(Class A)
(Class A)
Dated as of July 7, 2009
between
U.S. BANK NATIONAL ASSOCIATION
as Escrow Agent
and
THE BANK OF NEW YORK MELLON
as Depositary
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
Table of Contents
Page | ||||
SECTION 1. Acceptance of Depositary; Establishment of Accounts |
2 | |||
SECTION 2. Deposit Mechanics |
2 | |||
SECTION 3. Termination |
5 | |||
SECTION 4. Payments |
5 | |||
SECTION 5. Representation and Warranties |
5 | |||
SECTION 6. Transfer |
6 | |||
SECTION 7. Amendment, Etc |
7 | |||
SECTION 8. Notices |
7 | |||
SECTION 9. Obligations Unconditional |
7 | |||
SECTION 10. Entire Agreement |
8 | |||
SECTION 11. Governing Law |
8 | |||
SECTION 12. Submission to Jurisdiction in New York |
8 | |||
SECTION 13. Waiver of Jury Trial Right |
8 | |||
SECTION 14. Counterparts |
8 | |||
SECTION 15. Rights of Receiptholders |
8 | |||
SECTION 16. Limitation on Damages |
9 | |||
Schedule I Schedule of Deposits |
||||
Exhibit A Form of Notice of Purchase Withdrawal |
||||
Exhibit B Form of Notice of Final Withdrawal |
||||
Exhibit C Form of Notice of Replacement Withdrawal |
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
i
DEPOSIT AGREEMENT
(Class A)
(Class A)
This DEPOSIT AGREEMENT (Class A), dated as of July 7, 2009 (as amended, modified or
supplemented from time to time, this “Agreement”), is made by and between U.S. BANK
NATIONAL ASSOCIATION, a national banking association, as Escrow Agent under the Escrow and Paying
Agent Agreement referred to below (in such capacity, together with its successors in such capacity,
the “Escrow Agent”), and THE BANK OF NEW YORK MELLON, a New York banking corporation, as
depositary bank (the “Depositary”).
W
I T N E S S E T H:
WHEREAS, American Airlines, Inc. (“American”) and U.S. Bank Trust National
Association, not in its individual capacity except as otherwise expressly provided therein, but
solely as trustee (in such capacity, together with its successors in such capacity, the “Pass
Through Trustee”), have entered into a Trust Supplement, dated as of July 7, 2009 (the
“Trust Supplement”), to the Pass Through Trust Agreement, dated as of March 21, 2002
(together, as amended, modified or supplemented from time to time in accordance with the terms
thereof, the “Pass Through Trust Agreement”), relating to American Airlines Pass Through
Trust 2009-1A pursuant to which the American Airlines Pass Through Trust, Series 2009-1A
Certificates referred to therein (the “Certificates”) are being issued (the date of such
issuance, the “Issuance Date”);
WHEREAS, Xxxxxx Xxxxxxx & Co. Incorporated, Xxxxxxx, Sachs & Co. and Calyon Securities (USA)
Inc. (collectively, the “Underwriters” and, together with their respective transferees and
assigns as registered owners of the Certificates, the “Investors”) and American have
entered into an Underwriting Agreement, dated as of June 29, 2009, pursuant to which the Pass
Through Trustee will issue and sell the Certificates to the Underwriters;
WHEREAS, American, the Pass Through Trustee and certain other persons concurrently herewith
are entering into the Note Purchase Agreement, dated as of the date hereof (the “Note Purchase
Agreement”), pursuant to which the Pass Through Trustee has agreed to acquire from time to time
on or prior to the Delivery Period Termination Date (as defined in the Note Purchase Agreement)
equipment notes (the “Equipment Notes”) issued either in respect of aircraft owned by
American or to finance the acquisition of certain aircraft by American, as owner, utilizing a
portion of the proceeds from the sale of the Certificates (the “Net Proceeds”);
WHEREAS, the Escrow Agent, the Underwriters, the Pass Through Trustee and U.S. Bank Trust
National Association, as paying agent for the Escrow Agent (in such capacity, together with its
successors in such capacity, the “Paying Agent”), concurrently herewith are entering into
the Escrow and Paying Agent Agreement (Class A), dated as of the date hereof (as amended, modified
or supplemented from time to time in accordance with the terms thereof, the “Escrow and Paying
Agent Agreement”); and
WHEREAS, the Underwriters and the Pass Through Trustee intend that the Net Proceeds be held in
escrow by the Escrow Agent on behalf of the Investors pursuant to the Escrow and Paying Agent
Agreement, subject to withdrawal upon request of and proper certification by the
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
Pass Through Trustee for the purpose of purchasing Equipment Notes, and that pending such
withdrawal the Net Proceeds be deposited by the Escrow Agent with the Depositary pursuant to this
Agreement, which provides for the Depositary to pay interest for distribution to the Investors and
to establish accounts from which the Escrow Agent shall make withdrawals upon request of and proper
certification by the Pass Through Trustee.
NOW, THEREFORE, in consideration of the obligations contained herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows:
SECTION 1. Acceptance of Depositary; Establishment of Accounts.
Section 1.1. Acceptance of Depositary. The Depositary hereby agrees to act as
depositary bank as provided herein and in connection therewith to accept all amounts to be
delivered to or held by the Depositary pursuant to the terms of this Agreement. The Depositary
further agrees to hold, maintain and safeguard the Deposits and the Accounts (as defined below)
during the term of this Agreement in accordance with the provisions of this Agreement. The Escrow
Agent shall not have any right to withdraw, assign or otherwise transfer moneys held in the
Accounts except as permitted by this Agreement.
Section 1.2. Establishment of Accounts. The Escrow Agent hereby instructs the
Depositary, and the Depositary agrees, to establish the separate deposit accounts listed on
Schedule I hereto and to establish such additional separate deposit accounts as may be required in
connection with the deposits contemplated by Section 2.4 hereof (each, an “Account”
and collectively, the “Accounts”), each in the name of the Escrow Agent and all on the
terms and conditions set forth in this Agreement. The Depositary shall establish and maintain all
Accounts at a branch of The Bank of New York Mellon located in the United States.
SECTION 2. Deposit Mechanics.
Section 2.1. Deposits. The Escrow Agent shall direct the Underwriters to deposit with
the Depositary on the date of this Agreement (the “Deposit Date”) in Federal (same day)
funds by wire transfer to: The Bank of New York Mellon, ABA No. [
], Account Name: Corporate
Trust Agency, Account Number: [
], For Further Credit: A/C No. [
], Reference:
American Airlines 2009-1 EETC, and the Depositary shall accept from the Underwriters, on behalf of
the Escrow Agent, the sum of US$366,432,000. Upon acceptance of such sum, the Depositary shall
(i) establish each of the deposits specified in Schedule I hereto maturing in accordance
with this Agreement (together with any deposit made pursuant to Section 2.4 hereof,
individually, a “Deposit” and, collectively, the “Deposits”) and (ii)
credit each Deposit to the related Account as set forth herein. No amount shall be deposited in
any Account other than the related Deposit.
Section 2.2. Interest. Each Deposit shall bear interest from and including the date
of deposit to but excluding the date of withdrawal (it being understood that the date of withdrawal
in the case of any payment by the Depositary of the amount of the Final Withdrawal (as defined
below) on the Outside Termination Date (as defined below) shall be deemed to be the
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
2
date of such payment) at the rate of 10.375% per annum (computed on the basis of a 360-day
year of twelve 30-day months) payable to the Paying Agent on behalf of the Escrow Agent in arrears
on each Interest Payment Date (as defined below), on the date of any Final Withdrawal or on the
date of any Replacement Withdrawal (as defined below), as applicable, all in accordance with the
terms of this Agreement. As used in this Agreement, the term “Interest Payment Date”, with
respect to each Deposit that, as of any date of determination, has not been withdrawn pursuant to a
Final Withdrawal or a Replacement Withdrawal, shall mean each of January 2 and July 2, commencing
on January 2, 2010 and ending on the earlier of January 2 and July 2 immediately
following the date on which such Deposit is withdrawn pursuant to a Notice of Purchase Withdrawal
(as defined below); provided that interest accrued on any Deposit that is withdrawn
pursuant to a Notice of Purchase Withdrawal shall be paid on the next Interest Payment Date,
notwithstanding any intervening Final Withdrawal with respect to any other Deposit and
notwithstanding the fact that the relevant Account may have been closed before such Interest
Payment Date, but, if any intervening Replacement Withdrawal occurs before such next Interest
Payment Date, such accrued interest shall, instead, be paid on the date of such Replacement
Withdrawal. All interest paid pursuant to this Agreement shall be non-compounding.
Section 2.3. Withdrawals.
(a) Purchase Withdrawal. On and after the date seven days after the establishment of
any Deposit, the Escrow Agent may, by providing at least one Business Day’s prior notice of
withdrawal to the Depositary in the form of Exhibit A hereto (a “Notice of Purchase
Withdrawal”), withdraw the entire balance of such Deposit (but not any accrued and unpaid
interest thereon) (with respect to any Deposit, such withdrawal, the “Purchase
Withdrawal”), except that at any time prior to the actual withdrawal of such Deposit, the
Escrow Agent or the Pass Through Trustee may, by notice to the Depositary, which notice has been
actually received by the Depositary prior to such actual withdrawal, cancel such withdrawal
(including on the scheduled date therefor), and thereafter such Deposit shall continue to be
maintained by the Depositary in accordance with the original terms thereof. Following the Purchase
Withdrawal of any Deposit, the balance in the related Account shall be reduced to zero and the
Depositary shall close such Account. As used in this Agreement, “Business Day” shall mean
any day, other than a Saturday, Sunday or other day on which commercial banks are authorized or
required by law to close in New York, New York, Fort Worth, Texas, Boston, Massachusetts or
Wilmington, Delaware. The Depositary may waive the foregoing requirement that any Deposit can only
be withdrawn on or after seven days after the establishment thereof, and may instead reserve the
right, upon at least 14 days’ prior written notice to American, the Escrow Agent and the Pass
Through Trustee, to require seven days’ notice for any withdrawal.
(b) Final Withdrawal; Replacement Withdrawal.
(i) The Escrow Agent may, by providing at least 15 days’ prior notice of withdrawal to the
Depositary in the form of Exhibit B hereto (a “Notice of Final Withdrawal”), withdraw
(x) the entire amount of all of the remaining Deposits together with (y) all
accrued and unpaid interest on such Deposits to but excluding the specified date of such
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
3
withdrawal (such withdrawal of the amounts set forth in the immediately preceding clauses (x)
and (y), the “Final Withdrawal”), on such date as shall be specified in such Notice of
Final Withdrawal. If a Notice of Final Withdrawal has not been given to the Depositary on or
before the Outside Termination Date (as defined below) and there are unwithdrawn Deposits on such
date, the Depositary shall pay the amount of the Final Withdrawal to the Paying Agent on the
Outside Termination Date. Following the Final Withdrawal of any Deposit, the balance in the
related Account shall be reduced to zero and the Depositary shall close such Account. As used in
this Agreement, the term “Outside Termination Date” shall mean January 31, 2011, or such
later date, if any (which date shall in no event be later than July 7, 2011), as the Escrow Agent
shall have specified to the Depositary by notice to be given initially at least one Business Day
prior to January 31, 2011 and, if, subsequently, at any time and from time to time, the date
specified in such initial notice is to be replaced with a later date, the Escrow Agent shall give
the notice of such new date to the Depositary at least one Business Day prior to the date specified
as the Outside Termination Date pursuant to the notice from the Escrow Agent most recently received
by the Depositary.
(ii) The Escrow Agent may, by providing at least five Business Days’ prior notice of
withdrawal to the Depositary in the form of Exhibit C hereto (a “Notice of Replacement
Withdrawal”), withdraw (x) with respect to all Deposits then held by the Depositary,
(1) the entire amount of such Deposits together with (2) all accrued and unpaid
interest on such Deposits to but excluding the specified date of such Replacement Withdrawal (as
defined below) and (y) with respect to all Deposits, if any, previously withdrawn pursuant
to a Notice of Purchase Withdrawal, all accrued and unpaid interest on such Deposits to but
excluding the date of the applicable Purchase Withdrawal (such withdrawal of the amounts set forth
in the immediately preceding clauses (x) and (y), the “Replacement Withdrawal”), on such
date as shall be specified in such Notice of Replacement Withdrawal.
(c) Compliance with Withdrawal Notices. If the Depositary receives a duly completed
Notice of Purchase Withdrawal, Notice of Final Withdrawal or Notice of Replacement Withdrawal
(each, a “Withdrawal Notice”) complying with the provisions of this Agreement, it shall
make the payments specified therein in accordance with the provisions of this Agreement.
Notwithstanding anything to the contrary contained in this Agreement, in no event shall the
Depositary be required, pursuant to any Withdrawal Notice or otherwise, to make payments hereunder
on or in respect of any Deposit in excess of the amount of such Deposit together with accrued
interest thereon as provided in this Agreement.
Section 2.4. Other Accounts. On the date of withdrawal of any Deposit (other than the
date of any Final Withdrawal or Replacement Withdrawal), the Escrow Agent, or the Pass Through
Trustee on behalf of the Escrow Agent, shall re-deposit with the Depositary any portion thereof not
used to acquire Equipment Notes and the Depositary shall accept the same for deposit hereunder.
Any sums so received for deposit shall be established as a new Deposit and credited to a new
Account, all as more fully provided in Section 2.1 hereof, and thereafter the provisions of
this Agreement shall apply thereto as fully and with the same force and effect as if such Deposit
had been established on the Deposit Date except that such Deposit may not be withdrawn prior to the
date seven days after the establishment thereof. The Depositary may
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
4
waive the foregoing requirement that any Deposit can only be withdrawn on or after seven days
after the establishment thereof, and may instead reserve the right, upon at least 14 days’ prior
written notice to American, the Escrow Agent and the Pass Through Trustee, to require seven days’
notice for any withdrawal.
SECTION 3. Termination. This Agreement shall terminate on the fifth Business Day
after the later of the date on which (i) all of the Deposits shall have been withdrawn and
paid as provided herein without any re-deposit and (ii) all accrued and unpaid interest on
the Deposits shall have been paid as provided herein, but in no event prior to the date on which
the Depositary shall have performed in full its obligations hereunder.
SECTION 4. Payments. All payments made by the Depositary hereunder shall be paid in
United States Dollars and immediately available funds by wire transfer (i) in the cases of
(x) accrued and unpaid interest on the Deposits payable under Section 2.2 hereof,
(y) any Final Withdrawal or (z) accrued and unpaid interest on all Deposits, if
any, previously withdrawn pursuant to a Notice of Purchase Withdrawal, which interest is payable
pursuant to a Notice of Replacement Withdrawal, directly to the Paying Agent at U.S. Bank Trust
National Association, Boston, Massachusetts, ABA# [ ], Corporate Trust, Account No. [ ], Reference: American Airlines 2009-1 EETC, or to such other account as the Paying Agent may
direct from time to time in writing to the Depositary and the Escrow Agent, (ii) in the
case of any withdrawal of one or more Deposits pursuant to a Notice of Purchase Withdrawal,
directly to or as directed by the Pass Through Trustee as specified and in the manner provided in
such Notice of Purchase Withdrawal, and (iii) the case of any withdrawal of one or more
Deposits then held by the Depositary together with accrued and unpaid interest on such Deposits
pursuant to a Notice of Replacement Withdrawal, as directed by the Pass Through Trustee as
specified and in the manner provided in such Notice of Replacement Withdrawal. The Depositary
hereby waives any and all rights of set-off, combination of accounts, right of retention or similar
right (whether arising under applicable law, contract or otherwise) it may have against the
Deposits howsoever arising. To the extent permitted by applicable law, all payments on or in
respect of each Deposit shall be made free and clear of and without reduction for or on account of
any and all taxes, levies or other impositions or charges (collectively, “Taxes”).
However, if the Depositary shall be required by law (or if the Paying Agent shall have notified the
Depositary that, pursuant to Section 2.04 of the Escrow and Paying Agent Agreement, the
Paying Agent is required by law) to deduct or withhold any Taxes from or in respect of any sum
payable hereunder, the Depositary shall (i) make, or cause to be made, such deductions or
withholding and (ii) pay, or cause to be paid, the full amount deducted or withheld to the
competent taxation authority in accordance with applicable law. If the date on which any payment
due on any Deposit would otherwise fall on a day which is not a Business Day, such payment shall be
made on the next succeeding Business Day, and no additional interest shall accrue in respect of
such extension.
SECTION 5. Representation and Warranties. The Depositary hereby represents and
warrants to American, the Escrow Agent, the Pass Through Trustee and the Paying Agent that:
(a) it is a New York banking corporation duly organized and validly existing in good
standing under the laws of its jurisdiction of organization;
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
5
(b) it has full power, authority and legal right to conduct its business and operations
as currently conducted and to enter into and perform its obligations under this Agreement;
(c) the execution, delivery and performance of this Agreement have been duly authorized
by all necessary corporate action on the part of it and do not require any stockholder
approval, or approval or consent of any trustee or holder of any indebtedness or obligations
of it, and this Agreement has been duly executed and delivered by it and constitutes its
legal, valid and binding obligations enforceable against it in accordance with the terms
hereof;
(d) no authorization, consent or approval of or other action by, and no notice to or
filing with, any United States federal or state governmental authority or regulatory body is
required for the execution, delivery or performance by it of this Agreement;
(e) neither the execution, delivery or performance by it of this Agreement, nor
compliance with the terms and provisions hereof, conflicts or will conflict with or results
or will result in a breach or violation of any of the terms, conditions or provisions of, or
will require any consent or approval under, any law, governmental rule or regulation or the
charter documents, as amended, or bylaws, as amended, of it or any similar instrument
binding on it or any order, writ, injunction or decree of any court or governmental
authority against it or by which it or any of its properties is bound or of any indenture,
mortgage or contract or other agreement or instrument to which it is a party or by which it
or any of its properties is bound, or constitutes or will constitute a default thereunder or
results or will result in the imposition of any lien upon any of its properties; and
(f) there are no pending or, to its knowledge, threatened actions, suits,
investigations or proceedings (whether or not purportedly on behalf of it) against or
affecting it or any of its property before or by any court or administrative agency (except,
in the case of the immediately following clause (i), as set forth in Part II, Item 1 – Legal
Proceedings of the Form 10-Q of The Bank of New York Mellon Corporation for the quarterly
period ended March 31, 2009 filed with the Securities and Exchange Commission) which, if
adversely determined, (i) would adversely affect the ability of it to perform its
obligations under this Agreement or (ii) would call into question or challenge the
validity of this Agreement or the enforceability hereof in accordance with the terms hereof,
nor is the Depositary in default with respect to any order of any court, governmental
authority, arbitration board or administrative agency so as to adversely affect its ability
to perform its obligations under this Agreement.
SECTION 6. Transfer. Neither party hereto shall be entitled to assign or otherwise
transfer this Agreement (or any interest herein) other than (i) in the case of the Escrow
Agent, to a successor escrow agent under, and in accordance with, the Escrow and Paying Agent
Agreement, and (ii) in the case of the Depositary, to a bank (as defined in the Securities
Act of 1933, as amended from time to time, for purposes of Section 3(a)(2) thereof) into which the
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
6
Depositary shall merge or with which the Depositary shall be consolidated. Any purported
assignment in violation of the immediately preceding sentence shall be void. This Agreement shall
be binding upon the parties hereto and their respective successors and (in the case of the Escrow
Agent) permitted assigns. The Depositary agrees to cause any bank into which the Depositary shall
merge or with which the Depositary shall be consolidated to deliver to the Escrow Agent an
agreement containing the express assumption by such successor bank as of the effective date of such
merger or consolidation, as applicable, of the due and punctual performance and observance of each
covenant and condition of this Agreement unless such assumption shall be effective as a matter of
law even in the absence of such agreement.
SECTION 7. Amendment, Etc. This Agreement may not be amended, waived or otherwise
modified except by an instrument in writing signed by the party against whom the amendment, waiver
or other modification is sought to be enforced and by the Pass Through Trustee.
SECTION 8. Notices. Unless otherwise expressly provided herein, any notice or other
communication under this Agreement shall be in English and in writing, and given by United States
registered or certified mail, return receipt requested, overnight courier service or facsimile, and
any such notice shall be effective when received. All notices shall be sent to (x) in the
case of the Depositary, The Bank of New York Mellon, 000 Xxxxxxx Xxxxxx, Xxxxx 0X, Xxx Xxxx, Xxx
Xxxx 00000, Attention: Corporate Finance, Xxxx Xxxxxxx, Vice President, Reference: American
Airlines 0000-0 XXXX (Telephone: (000) 000-0000; Telecopier: (000) 000-0000), or (y) in
the case of the Escrow Agent, U.S. Bank National Association, Xxx Xxxxxxx Xxxxxx, 0xx
Xxxxx, Mail Code EX-MA-FED, Xxxxxx, Xxxxxxxxxxxxx 00000, Reference: American Airlines 2009-1 EETC,
Attention: Corporate Trust Services (Telephone: (000) 000-0000; Telecopier: (000) 000-0000), in
each case, with a copy to the Pass Through Trustee, U.S. Bank Trust National Association, 000
Xxxxxxxx Xxxxxx, 0xx Xxxxx, Mail Code EX-DE-WDAW, Xxxxxxxxxx, Xxxxxxxx 00000, Reference:
American Airlines 2009-1 EETC, Attention: Corporate Trust Services (Telephone: (000) 000-0000;
Telecopier: (000) 000-0000) and to American, American Airlines, Inc., 0000 Xxxx Xxxxxx Xxxxxxxxx,
Mail Drop 5662, Xxxx Xxxxx, Xxxxx 00000, Reference: American Airlines 0000-0 XXXX, Xxxxxxxxx:
Treasurer (Telephone: (000) 000-0000; Telecopier: (000) 000-0000) (or at such other address as
any such party may specify from time to time in a written notice to the parties hereto). On or
prior to the execution of this Agreement, the Escrow Agent has delivered to the Depositary a
certificate containing specimen signatures of the representatives of the Escrow Agent who are
authorized to give notices and instructions with respect to this Agreement. The Depositary may
conclusively rely on such certificate until the Depositary receives written notice from the Escrow
Agent to the contrary.
SECTION 9. Obligations Unconditional. The Depositary hereby acknowledges and agrees
that its obligation to repay each Deposit together with interest thereon as provided herein is
absolute, irrevocable and unconditional and constitutes a full recourse obligation of the
Depositary enforceable against it to the full extent of all of its assets and properties.
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
7
SECTION 10. Entire Agreement. This Agreement (including all attachments hereto) sets
forth all of the promises, covenants, agreements, conditions and understandings between the
Depositary and the Escrow Agent with respect to the subject matter hereof and supersedes all prior
and contemporaneous agreements and undertakings, inducements or conditions, express or implied,
oral or written.
SECTION 11. Governing Law. This Agreement, and the rights and obligations of the
Depositary and the Escrow Agent with respect to the Deposits, shall be governed by, and construed
in accordance with, the law of the State of New York and subject to the provisions of Regulation D
of the Board of Governors of the Federal Reserve System (or any successor), as the same may be
modified and supplemented and in effect from time to time.
SECTION 12. Submission to Jurisdiction in New York. Each of the parties hereto, to
the extent it may do so under applicable law, hereby (a) irrevocably submits itself to the
non-exclusive jurisdiction of the courts of the State of New York sitting in the City of New York
and to the non-exclusive jurisdiction of the United States District Court for the Southern District
of New York, for the purposes of any suit, action or other proceeding arising out of this
Agreement, the subject matter hereof or any of the transactions contemplated hereby brought by any
party or parties hereto, or their successors or permitted assigns and (b) waives, and
agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or
proceeding, that the suit, action or proceeding is brought in an inconvenient forum, that the venue
of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof
or any of the transactions contemplated hereby may not be enforced in or by such courts.
SECTION 13. Waiver of Jury Trial Right. EACH OF THE DEPOSITARY AND THE ESCROW AGENT
ACKNOWLEDGES AND ACCEPTS THAT, TO THE EXTENT PERMITTED BY APPLICABLE LAW, IN ANY SUIT, ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT SUCH PARTY IRREVOCABLY WAIVES ITS RIGHT TO
A TRIAL BY JURY.
SECTION 14. Counterparts. This Agreement may be executed in one or more counterparts,
all of which taken together shall constitute one instrument.
SECTION 15. Rights of Receiptholders. The Depositary acknowledges that, if the
Depositary shall fail to pay when due hereunder any interest on the Deposits or to pay when due
hereunder any Final Withdrawal or any Replacement Withdrawal, each Receiptholder (as defined below)
shall have the right (individually and without the need for any other action of any person,
including the Escrow Agent or any other Receiptholder) to claim directly against the Depositary, by
making a demand to the Depositary or by bringing suit to enforce any rights the Escrow Agent may
have under this Agreement, in respect of amounts that would have been distributed to such
Receiptholder pursuant to the Escrow and Paying Agent Agreement, and that any such claim shall not
be subject to defenses that the Depositary may have against the Escrow Agent. As used in this
Agreement, the term “Receiptholder” shall have the meaning assigned to such term in the
Escrow and Paying Agent Agreement.
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
8
SECTION 16. Limitation on Damages. In no event shall the Depositary be responsible or
liable for special, indirect, punitive, or consequential loss or damage of any kind whatsoever
(including, but not limited to, loss of profit, whether or not foreseeable) suffered by the Escrow
Agent or any of the Receiptholders in connection with this Agreement or the transactions
contemplated or any relationships established by this Agreement irrespective of whether the
Depositary has been advised of the likelihood of such loss or damage and regardless of the form of
action.
[Signature Pages Follow.]
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
9
IN WITNESS WHEREOF, the Escrow Agent and the Depositary have caused this Deposit Agreement
(Class A) to be duly executed as of the day and year first above written.
U.S. BANK NATIONAL ASSOCIATION, as Escrow Agent |
||||
By | /s/ Alison X. X. Xxxxxx | |||
Name: | Alison X. X. Xxxxxx | |||
Title: | Vice President | |||
THE BANK OF NEW YORK MELLON, as Depositary |
||||
By | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Assistant Vice President | |||
Signature Page
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
SCHEDULE I to
DEPOSIT AGREEMENT
DEPOSIT AGREEMENT
SCHEDULE OF DEPOSITS
CLASS A
Aircraft Type | Deposit Amount | Account No. | Aircraft Type | |||
Boeing 737-823
|
$22,902,000.00 | [ ] | AA 2009-1 A1 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A2 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A3 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A4 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A5 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A6 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A7 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A8 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A9 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A10 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A11 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A12 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A13 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A14 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A15 DEPOSIT ACCT | |||
Boeing 737-823 | $22,902,000.00 | [ ] | AA 2009-1 A16 DEPOSIT ACCT |
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
EXHIBIT A to
DEPOSIT AGREEMENT
DEPOSIT AGREEMENT
FORM OF NOTICE OF PURCHASE WITHDRAWAL
NOTICE OF PURCHASE WITHDRAWAL
The Bank of New York Mellon,
as Depositary
000 Xxxxxxx Xxxxxx, Xxxxx 0X
Xxx Xxxx, Xxx Xxxx 00000
Attention: Corporate Finance, Xxxx Xxxxxxx, Vice President
Reference: American Airlines 0000-0 XXXX
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
as Depositary
000 Xxxxxxx Xxxxxx, Xxxxx 0X
Xxx Xxxx, Xxx Xxxx 00000
Attention: Corporate Finance, Xxxx Xxxxxxx, Vice President
Reference: American Airlines 0000-0 XXXX
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
Ladies and Gentlemen:
Reference is made to the Deposit Agreement (Class A) dated as of July 7, 2009 (the
“Deposit Agreement”) between U.S. Bank National Association, as Escrow Agent, and The Bank
of New York Mellon, as Depositary (the “Depositary”).
In accordance with Section 2.3(a) of the Deposit Agreement, the undersigned hereby
requests the withdrawal of the entire amount of the Deposit, $[ ], Account No.
[ ].
The undersigned hereby directs the Depositary to pay the entire amount of the Deposit to
[American Airlines, Inc. at XX Xxxxxx Xxxxx, ABA# [ ], Account No. [ ], Reference:
American Airlines 2009-1 EETC] [the Pass Through Trustee at U.S. Bank Trust National Association,
Wilmington, Delaware, ABA# [ ], Corporate Trust, Account No. [ ], Reference:
American Airlines 2009-1 EETC]1 on [ ], 20___, upon the telephonic request of a
representative of the Pass Through Trustee.
U.S. BANK NATIONAL ASSOCIATION, | ||
as Escrow Agent | ||
By: |
1 | If there are any excess amounts that would need to be re-deposited pursuant to the applicable Funding Notice, the account to be specified here should be that of the Pass Through Trustee. If there are no such excess amounts, the account number to specified here should be that of American. |
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
Name:
Title:
Title:
Dated: As of [ __, 20__]
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
EXHIBIT B to
DEPOSIT AGREEMENT
DEPOSIT AGREEMENT
FORM OF NOTICE OF FINAL WITHDRAWAL
NOTICE OF FINAL WITHDRAWAL
The Bank of New York Mellon,
as Depositary
000 Xxxxxxx Xxxxxx, Xxxxx 0X
Xxx Xxxx, Xxx Xxxx 00000
Attention: Corporate Finance, Xxxx Xxxxxxx, Vice President
Reference: American Airlines 0000-0 XXXX
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
as Depositary
000 Xxxxxxx Xxxxxx, Xxxxx 0X
Xxx Xxxx, Xxx Xxxx 00000
Attention: Corporate Finance, Xxxx Xxxxxxx, Vice President
Reference: American Airlines 0000-0 XXXX
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
Gentlemen:
Reference is made to the Deposit Agreement (Class A) dated as of July 7, 2009 (the
“Deposit Agreement”) between U.S. Bank National Association, as Escrow Agent, and The Bank
of New York Mellon, as Depositary (the “Depositary”).
In accordance with Section 2.3(b)(i) of the Deposit Agreement, the undersigned hereby
requests the withdrawal of (x) the entire amount of all of the remaining Deposits together
with (y) all accrued and unpaid interest on such Deposits to but excluding [ ],
20___.
The undersigned hereby directs the Depositary to pay the entire amount of such Deposits and
accrued and unpaid interest thereon on
[ ], 20___ to the Paying Agent at U.S. Bank Trust
National Association, Boston, Massachusetts, ABA# [ ], Corporate Trust, Account No. [ ], Reference: American Airlines 2009-1 EETC.
U.S. BANK NATIONAL ASSOCIATON, | ||||||
as Escrow Agent | ||||||
By: | ||||||
Title: |
Dated: As of [ __, 20__]
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)
EXHIBIT C to
DEPOSIT AGREEMENT
DEPOSIT AGREEMENT
FORM OF NOTICE OF REPLACEMENT WITHDRAWAL
NOTICE OF REPLACEMENT WITHDRAWAL
The Bank of New York Mellon,
as Depositary
000 Xxxxxxx Xxxxxx, Xxxxx 0X
Xxx Xxxx, Xxx Xxxx 00000
Attention: Corporate Finance, Xxxx Xxxxxxx, Vice President
Reference: American Airlines 0000-0 XXXX
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
as Depositary
000 Xxxxxxx Xxxxxx, Xxxxx 0X
Xxx Xxxx, Xxx Xxxx 00000
Attention: Corporate Finance, Xxxx Xxxxxxx, Vice President
Reference: American Airlines 0000-0 XXXX
Telephone: (000) 000-0000
Telecopier: (000) 000-0000
Reference is made to the Deposit Agreement (Class A) dated as of July 7, 2009 (the
“Deposit Agreement”) between U.S. Bank National Association, as Escrow Agent, and The Bank
of New York Mellon, as Depositary (the “Depositary”).
In accordance with Section 2.3(b)(ii) of the Deposit Agreement, the undersigned hereby
requests the withdrawal of the following: (x) with respect to all Deposits currently held
by the Depositary, (1) the entire amount of such Deposits together with (2) all
accrued and unpaid interest on such Deposits to but excluding
[ ], 20___ and (y)
with respect to all Deposits, if any, previously withdrawn pursuant to a Notice of Purchase
Withdrawal, all accrued and unpaid interest on such Deposits to but excluding the date of the
applicable Purchase Withdrawal.
The undersigned hereby directs the Depositary to pay on [ ], 20___(i) the
amount requested to be withdrawn pursuant to clause (x) above to [name and account details of the
replacement depositary], Reference: American Airlines 2009-1 EETC; and (ii) the amount
requested to be withdrawn pursuant to clause (y) above to the Paying Agent at U.S. Bank Trust
National Association, Boston, Massachusetts, ABA# [ ], Corporate Trust, Account No. [ ], Reference: American Airlines 2009-1 EETC.
U.S. BANK NATIONAL ASSOCIATION, | ||||||
as Escrow Agent | ||||||
By: | ||||||
Title: |
Dated: As of [ __, 20__]
Deposit Agreement (Class A)
(2009-1 Aircraft EETC)
(2009-1 Aircraft EETC)