AIRCRAFT LEASE PORTFOLIO SECURITISATION 92-1 LIMITEDAircraft Lease • April 20th, 2005 • Aircraft Lease Portfolio Securitisation 92-1 LTD • Asset-backed securities
Aircraft Lease Portfolio Securitisation 92-1 Limited (the “Company”) and Clarks Summit I, LLC (the “Purchaser”) have entered into a Master Aircraft Sale Agreement (the “Agreement”), dated 18 April 2005, whereby the Company has agreed, subject to the terms of the Agreement, to sell all nine of its aircraft (as a single portfolio) to the Purchaser or any nominee thereof for U.S.$93,250,000 (the “Purchase Price”), subject to a reduction of approximately U.S.$1.1 million based on an agreed sharing of the accrued rents for the period of January to March 2005, payable in cash. The Purchase Price includes applicable security deposits and maintenance reserves. On the date of transfer of title to each aircraft by the Company the Purchaser will, through a set-off arrangement, deduct from the applicable portion of the Purchase Price for that aircraft the cash security deposit (if any) and all maintenance reserves (if any) held on that date for that aircraft by the Company or the relevant subsidia
