Common use of Lease Information Clause in Contracts

Lease Information. (a) Seller confirms that (i) pursuant to the terms of the Lease, Basic Rent during the Term (as such term is defined in the Lease) is payable monthly in advance on the 11th day of each calendar month in the amount of US$128,061, the Expiry Date (as such term is defined in the Lease) of the Lease is April 15, 2008 and Seller has not exercised its option under the Lease to extend the term of the Lease to A▇▇▇▇ ▇▇, ▇▇▇▇, (▇▇) no Basic Rent which is payable on any date subsequent to the date hereof has been prepaid in whole or in part, (iii) Seller has provided to Purchaser a copy of any reports of Lessee to the extent provided to Seller by Lessee pursuant to Section 8.2.b.ii (for the fiscal years ending June, 2004 and June, 2005 only), 8.2.f (to the extent reasonably available from the inception of the Lease but including all reports for 2006) and 8.2.g of the Lease, (iv) Seller holds a Deposit (as defined in the Lease) of $310,000 under the Lease and accrued interest on such deposit through the date hereof is $35,027.22, for an aggregate cash deposit of $345,027.22 (the “Lease Deposit”), which amount shall increase by $43.42 each day that lapses after the date hereof, (v) Lessee has paid Maintenance Reserves at the rates set forth in Schedule 7 to the Lease for operation of the Aircraft through November 30, 2006 and the amounts of the Maintenance Reserves as of the date hereof are set forth in Schedule 2, (vi) there are no pending claims by Lessee for reimbursement from Maintenance Reserves and Seller has paid in full all prior claims for reimbursements from Maintenance Reserves, (vii) Lessee is not, under Schedule 7 to the Lease, in arrears in respect of any payments of “Engine Refurbishment Reserves” (as defined therein) as a result of the hour to cycle ratio of an Engine being less than 1.0:1 in any prior year, and, with respect to 2006, the hour-to-cycle ratio of each Engine for the period through November 30, 2006 is between 1.02:1 and 1.3:1, (viii) the aggregate amounts of the individual Maintenance Reserves paid by Lessee net of all claims for reimbursements from such Maintenance Reserves through the date hereof are set forth on Schedule 2 to this Agreement, (ix) there are no pending requests by Lessee for a Lessor Contribution (as defined in the Lease) pursuant to Section 7.6 of the Lease and Seller does not have any actual knowledge of any FAA airworthiness directive in respect of the Aircraft that would result in a claim for a Lessor Contribution, (x) Seller, as lessor under the Lease, has the right to extend the Expiry Date by one year, as provided in the Third Amendment to Lease Agreement, dated June 24, 2005, between Seller and Lessee, and (xi) the Lease has not been amended, modified or supplemented other than pursuant to the Transaction Documents. (b) Seller has no reason to believe that any of the Aircraft specifications or other technical information it has provided to Purchaser is false or incorrect correct in any material respect.

Lease Information. (a) Seller confirms that that (i) pursuant to the terms of the Lease, Basic Rent during the Term (as such term is defined in the Lease) is payable monthly in advance on the 11th day of each calendar month in the amount of US$128,061, the Expiry Date (as such term is defined in the Lease) of the Lease is April 15, 2008 and Seller has not exercised its option under the Lease to extend the term of the Lease to A▇▇▇▇▇ ▇▇, ▇▇▇▇, , (▇▇) no Basic Rent which is payable on any date subsequent to the date hereof has been prepaid in whole or in part, , (iii) Seller has provided to Purchaser a copy of any reports of Lessee to the extent provided to Seller by Lessee pursuant to Section 8.2.b.ii (for the fiscal years ending June, 2004 and June, 2005 only), 8.2.f (to the extent reasonably available from the inception of the Lease but including all reports for 2006) and 8.2.g of the Lease, , (iv) Seller holds a Deposit (as defined in the Lease) of $310,000 under the Lease and accrued interest on such deposit through the date hereof is $35,027.22, for an aggregate cash deposit of $345,027.22 (the “Lease Deposit”), which amount shall increase by $43.42 each day that lapses after the date hereof, , (v) Lessee has paid Maintenance Reserves at the rates set forth in Schedule 7 to the Lease for operation of the Aircraft through November 30, 2006 and the amounts of the Maintenance Reserves as of the date hereof are set forth in Schedule 2, , (vi) there are no pending claims by Lessee for reimbursement from Maintenance Reserves and Seller has paid in full all prior claims for reimbursements from Maintenance Reserves, , (vii) Lessee is not, under Schedule 7 to the Lease, in arrears in respect of any payments of “Engine Refurbishment Reserves” (as defined therein) as a result of the hour to cycle ratio of an Engine being less than 1.0:1 in any prior year, and, with respect to 2006, the hour-to-cycle ratio of each Engine for the period through November 30, 2006 is between 1.02:1 and 1.3:1, , (viii) the aggregate amounts of the individual Maintenance Reserves paid by Lessee net of all claims for reimbursements from such Maintenance Reserves through the date hereof are set forth on Schedule 2 to this Agreement, , (ix) there are no pending requests by Lessee for a Lessor Contribution (as defined in the Lease) pursuant to Section 7.6 of the Lease and Seller does not have any actual knowledge of any FAA airworthiness directive in respect of the Aircraft that would result in a claim for a Lessor Contribution, , 16 (x) Seller, as lessor under the Lease, has the right to extend the Expiry Date by one year, as provided in the Third Amendment to Lease Agreement, dated June 24, 2005, between Seller and Lessee, and and (xi) the Lease has not been amended, modified or supplemented other than pursuant to the Transaction Documents. (b) Seller has no reason to believe that any of the Aircraft specifications or other technical information it has provided to Purchaser is false or incorrect correct in any material respect.. 6.13