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Title: |
Participation Agreement |
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Entities: |
Barclays Bank plc; GATX Corp.; Bank of New York; Milbank, Tweed, Hadley & McCloy |
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Date: |
2005 |
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Size: |
Preview shows 6KB of 537KB total |
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Price: |
$99 |
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ID: |
#874851 |
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PARTICIPATION AGREEMENT
dated as of April 30, 2002
among
USEB AIRCRAFT LIMITED
as Initial Borrower Party and Initial Lessor Party
GEARY LEASING LIMITED
JACKSON LEASING LIMITED
JACKSON LEASING CORPORATION
JACKSON LEASING (IRELAND) LIMITED
JACKSON LEASING (CYPRUS) LIMITED
each as an Initial Lessee Party
WALKERS SPV LIMITED
not in its individual capacity except as expressly set forth herein,
but solely as Trustee of the USEB Aircraft Trust
as Initial Lessor Parent
BARCLAYS BANK PLC
as Initial Lender
BARCLAYS BANK PLC
as Facility Agent for the Lenders
WELLS FARGO BANK NORTHWEST, N.A.
not in its individual capacity, except as expressly
provided herein, but solely
as Security Trustee
GATX FINANCIAL CORPORATION
as a Guarantor
AND
EXPORT-IMPORT BANK OF THE UNITED STATES
---------------------------------------
Ten (10) Boeing Model 737-800 Aircraft
---------------------------------------
Ex-Im Bank Guarantee No. AP077971XX - United States - GATX
Milbank, Tweed, Hadley & McCloy LLP
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page
----
<S> <C> <C>
SECTION 1. Definitions............................................................................... 2
SECTION 2. Purchase and Lease of the Aircraft........................................................ 3
SECTION 3. Borrowing Dates........................................................................... 3
SECTION 4A. Conditions Precedent to Obligations of the Initial Borrower, each Lender,
the Facility Agent, the Security Trustee and Ex-Im Bank on the first Borrowing Date...... 4
SECTION 4B. Conditions Precedent to Obligations of the relevant Initial Borrower, each
Lender, the Facility Agent, the Security Trustee and Ex-Im Bank on the
Borrowing Date for an Aircraft........................................................... 7
SECTION 4C. Further Conditions Precedent to Obligations of Ex-lm Bank; Utilization
Procedures............................................................................... 11
SECTION 5. Conditions Precedent to Obligations of the Initial Lessee of an Aircraft.................. ]2
SECTION 6A. Borrower Party. Lessor Party and Lessee Party Designations................................ 13
SECTION 6B. Borrower, Lessor and Lessee Substitutions................................................. 16
SECTION 7. Representations and Warranties of Initial Lessee Parties.................................. 18
SECTION 8A. General Covenants of each Lessee Party.................................................... 20
SECTION 8B. Covenants of each Lessee relating to the Aircraft Financing Documents..................... 22
SECTION 8C. Certain Covenants Relating to the Re-leasing of Aircraft.................................. 24
SECTION 8D. Certain Covenants of each Lessee relating to Operational Undertakings;
Inspection; Registration; Nameplates and Insurance....................................... 29
SECTION 8E. Certain Covenants of GFC, Lessees and Lessors relating to Modifications
to Leases and Operating Leases and the Disposition of Aircraft........................... 30
SECTION 8F. General Covenants of GFC.................................................................. 31
SECTION 8G. Additional Security....................................................................... 32
SECTION 9. Representations, Warranties and Covenants of Initial Lessor Party, Initial
Lessor Parent, Walkers SPV, the Facility Agent, the Initial Lender and the
Security Trustee......................................................................... 33
SECTION 10. Indemnities and Taxes..................................................................... 43
SECTION 11. Lien Removal.............................................................................. 54
SECTION 12. Expenses.................................................................................. 54
SECTION 13. Creation of Trust; the Security Trustee; Successor Trustees; Enforcement;
Consent of Secured Parties; Right to Exercise Remedies................................... 55
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