Definition of Post-Element Aircraft Balance

  1. Post-Element Aircraft Balance means an amount equal to $2,679,496,884, which amount represents the value of the Company's flight equipment, net, as reflected on the Company's unaudited consolidated balance sheet as of June 30, 2015, adjusted on a pro forma basis as though the disposition of the aircraft in the Element Transaction had been completed on such date;" (c) The definition of "Year-End Balance" is hereby deleted in its entirety and replaced with the following:

Definition of Post-Element Aircraft Balance in Management Agreement

Post-Element Aircraft Balance means an amount equal to $2,679,496,884, which amount represents the value of the Company's flight equipment, net, as reflected on the Company's unaudited consolidated balance sheet as of June 30, 2015, adjusted on a pro forma basis as though the disposition of the aircraft in the Element Transaction had been completed on such date;" (c) The definition of "Year-End Balance" is hereby deleted in its entirety and replaced with the following: