Common use of PREDELIVERY PAYMENTS Clause in Contracts

PREDELIVERY PAYMENTS. 7.1 Predelivery Payments for the [***] Aircraft will be paid by the Buyer to the Seller for each [***] Aircraft and will, in the aggregate, amount to [***] of the Predelivery Payment Reference Price of the [***] Aircraft defined below in Paragraph 7.2. 7.2 The Buyer will pay the Seller Predelivery Payments for the [***] Aircraft calculated on the Predelivery Payment Reference Price of each [***] Aircraft. The Predelivery Payment Reference Price is defined as: A = [***] where A = the Predelivery Payment Reference Price for Converted A318 Aircraft to be delivered in calendar year T. Pb = the Base Price of the Converted A318 Aircraft as defined in Paragraph 5.1 above. N = T - 2003). T = the year of delivery of the relevant Converted A318 Aircraft. 7.3 Predelivery Payments for the [***] Aircraft will be paid according to the following schedules. Payment Date Percentage of [***] Aircraft Predelivery Payment Reference Price 1st Payment On signature of this Amendment [***] No later than the first Working Day of the following months: 2d Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] (less 1st Payment) 3d Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] 4th Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] 5th Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] TOTAL PAYMENT PRIOR TO DELIVERY [***] 7.4 [***], the first Predelivery Payment for each of the six (6) Incremental A320 Aircraft, will be equal to [***].

PREDELIVERY PAYMENTS. 7.1 5.2.1 Predelivery Payments for are nonrefundable (although amounts equal to Predelivery Payments may be paid to the [***] Aircraft Buyer pursuant to Clause 11.3) and will be paid by the Buyer to the Seller for each [***] Aircraft and will, in the aggregate, Aircraft. The aggregate Predelivery Payment amount to [***] is thirty percent (30%) of the Predelivery Payment Reference Price of the [***] Aircraft defined below in Paragraph 7.2Clause 5.2.2. 7.2 The Buyer will pay the Seller Predelivery Payments for the [***] Aircraft calculated on the Predelivery Payment Reference Price of each [***] Aircraft. 5.2.2 The Predelivery Payment Reference Price for an Aircraft to be delivered in calendar year T is defined asbelow: A = [***] where Pb (1 + 0.04N) where A = the Predelivery Payment Reference Price predelivery payment reference price for Converted A318 an Aircraft to be delivered in calendar year T. Pb = the Base Price of the Converted A318 Aircraft as defined in Paragraph 5.1 Clause 3 above. N = (T - 2003– 2007). T = the year of delivery of the relevant Converted A318 Aircraft. 7.3 Predelivery Payments for the [. INTREPID – A330-200F PA - Execution Version – 05/2007 14/134 CONFIDENTIAL AND PROPRIETARY INFORMATION ***] Aircraft ** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission. 5.2.3 Predelivery Payments will be paid according to the following schedulesschedule. Payment Date Percentage of [***] Aircraft Predelivery Payment Reference Price 1st Payment On signature of this Amendment [***] Agreement 2% (less Commitment Fee) No later than the first Working Business Day of each of the following months: 2d 2nd Payment The [***] forty-eighth (48th) month before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] (less 1st Payment) 3d 4% 3rd Payment The [***] thirty-sixth (36th) month before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] 6% 4th Payment The [***] twenty-fourth (24th) month before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] 6% 5th Payment The [***] eighteenth (18th) month before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] 6% 6th Payment The twelfth (12th) month before the Scheduled Delivery Month of each Aircraft as set forth in this Agreement 6% TOTAL PAYMENT PRIOR TO DELIVERY [***]30% All Predelivery Payments that are past due on signature of this Agreement will be paid at signature of this Agreement. 7.4 [***], the first 5.2.4 The Seller will be entitled to hold and use any Predelivery Payment for each as absolute owner thereof, subject only to (i) the obligation to deduct an amount equal to Predelivery Payments from the Final Contract Price, when calculating the Balance of the six Final Contract Price, or (6ii) Incremental A320 Aircraft, return or credit an amount equal to such Predelivery Payments to the Buyer as provided in this Agreement. The Seller will be under no obligation to segregate any Predelivery Payment, or any amount equal to [***]thereto, from the Seller’s funds generally.

PREDELIVERY PAYMENTS. 7.1 5.2.1 Predelivery Payments for the [***] Aircraft will be paid by the Buyer to the Seller for each [***] Aircraft Aircraft. Predelivery Payments are nonrefundable (although amounts equal to Predelivery Payments may be paid to the Buyer under Clauses 10.4 and will, in 11.3 of this Agreement). The Buyer will pay Predelivery Payments to the aggregate, amount to Seller totalling [***] of the Predelivery Payment Reference Price of the [***] Aircraft defined below in Paragraph 7.2Clause 5.2.2. 7.2 The Buyer will pay the Seller Predelivery Payments for the [***] Aircraft calculated on the Predelivery Payment Reference Price of each [***] Aircraft. 5.2.2 The Predelivery Payment Reference Price is defined as: A = [***] where Pb (1 + 0.04N) where A = the Predelivery Payment Reference Price for Converted A318 an Aircraft to be delivered in calendar year T. Pb = the Base Price of the Converted A318 Aircraft as defined in Paragraph 5.1 Clause 3 above. N = (T - – 2003). T = the year of delivery of the relevant Converted A318 Aircraft. 7.3 5.2.3 Predelivery Payments for the [***] Aircraft will be paid according to the following schedulesschedule. Payment Date Percentage of [***] Aircraft Predelivery Payment Reference Price 1st Payment On signature of this Amendment [***] Agreement No later than the first Working Day of the following months: 2d Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] (less 1st Payment[***]) 3d Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] 4th Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] 5th Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] [***] [***] [***] TOTAL PAYMENT PRIOR TO DELIVERY [***]] All Predelivery Payments for which the payment due date falls before signature of this Agreement will be paid at signature of this Agreement. 7.4 5.2.4 The Seller will be entitled to hold and use any Predelivery Payment as absolute owner thereof subject to (i) the obligation to deduct Predelivery Payments from the Final Contract Price when calculating the Balance of the Final Contract Price, (ii) Clause [***], the first Predelivery Payment for each ] of the six Agreement, (6iii) Incremental A320 Aircraft, will be equal to Clause [***]] of the Agreement, or (iv) [***] Predelivery Payments as may be set forth elsewhere in this Agreement. The Seller will be under no obligation to segregate any Predelivery Payment from the Seller’s funds generally.

PREDELIVERY PAYMENTS. 7.1 5.2.1 Predelivery Payments for are non-refundable (although amounts equal to Predelivery Payments may be paid to the [***] Aircraft will Buyer pursuant to Subclauses 10.2, 10.3, 10.5, 11.4, 11.5 and 21.2) and shall be paid by the Buyer to the Seller for each [***] Aircraft and will, in the aggregate, amount to [***] of the Predelivery Payment Reference Price of the [***] Aircraft defined below in Paragraph 7.2Aircraft. 7.2 The Buyer will pay the Seller Predelivery Payments for the [***] Aircraft calculated on the Predelivery Payment Reference Price of each [***] Aircraft. 5.2.2 The Predelivery Payment Reference Price is defined as: A = [***] where A = the Predelivery Payment Reference Price for Converted A318 an Aircraft to be delivered in calendar year T. Pb = T is determined in accordance with the Base Price of the Converted A318 Aircraft as defined in Paragraph 5.1 above. N = T - 2003). T = the year of delivery of the relevant Converted A318 Aircraft. 7.3 Predelivery Payments for the following formula: [***] Aircraft will ] 5.2.3 Predelivery Payments shall be paid according to the following schedulesschedule. Payment Date Percentage of Predelivery PaymentReference Price [***] Aircraft Predelivery Payment Reference Price 1st Payment On signature of this Amendment [***] [***] No later than the first Working Day of each of the following months: 2d Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] (less 1st Payment) 3d Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] 4th Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] 5th Payment The [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement [***] [***] [***] [***] ______________________________________________________ TOTAL PAYMENT PRIOR TO DELIVERY [***] 7.4 ] In the event of the above schedule resulting in any Predelivery Payment falling due prior to the date of signature of the Agreement, such Predelivery Payments shall be made upon signature of the Agreement. CT1707017 PA A321 NEO EXECUTION [***], ] Confidential portion omitted and filed separately with the first Commission Pursuant to a Request for Confidential Treatment. 5.2.4 The Seller shall be entitled to hold and use any Predelivery Payment for each as absolute owner thereof, subject only to the obligation to deduct an amount equal to Predelivery Payments from the Final Contract Price of the six (6) Incremental A320 Aircraft, will when calculating the balance of the Final Contract Price of such Aircraft. The Seller shall be under no obligation to segregate any Predelivery Payment, or any amount equal to [***]thereto, from the Seller’s funds generally.

PREDELIVERY PAYMENTS. 7.1 6.2.1 Predelivery Payments for the [***] Aircraft will shall be paid by the Buyer to the Seller for each [***] Aircraft and will, in the aggregate, amount to (i) [***] of the Predelivery Payment Reference Price defined in Subclause 6.2.4 below for each of the Firm Aircraft and (ii) [***] Aircraft defined below in Paragraph 7.2. 7.2 The Buyer will pay the Seller Predelivery Payments for the [***] Aircraft calculated on of the Predelivery Payment Reference Price of defined in Subclause 6.2.4 below for each [***] Aircraft. The Predelivery Payment Reference Price is defined as: A = [***] where A = the Predelivery Payment Reference Price for Converted A318 Aircraft to be delivered in calendar year T. Pb = the Base Price of the Converted A318 Aircraft as defined in Paragraph 5.1 above. N = T - 2003). T = the year of delivery of the relevant Converted A318 Option Aircraft. 7.3 6.2.2 Predelivery Payments for each of the [***] Firm Aircraft will shall be paid according to the following schedules. Payment Date schedule: Percentage of Predelivery Payment Reference Price --------------- - first payment, received on signature of the LOI [***] Aircraft Predelivery Payment Reference Price 1st Payment On signature of this Amendment - second payment, no later than [***] No later than the first Working Day of the following months: 2d Payment The [***] before the Scheduled Delivery Month of each - third payment, no later than [***] Aircraft as set forth in this Agreement [***] (less 1st Payment) 3d Payment The - fourth payment, no later than [***] before the Scheduled Delivery Month of each [***] Aircraft as set forth in this Agreement - fifth payment, 18 months prior to delivery [***] 4th Payment The - sixth payment, 15 months prior to delivery [***] before the Scheduled Delivery Month of each - seventh payment, 12 months prior to delivery [***] Aircraft as set forth in this Agreement - eighth payment, 6 months prior to delivery [***] 5th Payment The - ninth payment, 3 months prior to delivery [***] before the Scheduled Delivery Month of each TOTAL PAYMENT PRIOR TO DELIVERY [***] The balance of the Final Contract Price shall be paid to the Seller at delivery of each of the Firm Aircraft. 6.2.3 Predelivery Payments for each of the Option Aircraft as set forth in this Agreement shall be paid according to the following schedule: Percentage of Predelivery Payment Reference Price (or USD) - first payment, received on signature of the LOI [***] - second payment, no later than [***] [***] - third payment, no later than [***] [***] - fourth payment, upon Option Aircraft exercise but not later than 24 months prior to delivery [***] - fifth payment, 18 months prior to delivery [***] - sixth payment, 15 months prior to delivery [***] - seventh payment, 12 months prior to delivery [***] - eighth payment, 6 months prior to delivery [***] - ninth payment, 3 months prior to delivery [***] TOTAL PAYMENT PRIOR TO DELIVERY [***] 7.4 [***], the first Predelivery Payment for each of the six (6) Incremental A320 Aircraft, will be equal to [***].