Lease Supplement No. 1 (N591ML) between Bombardier Capital Inc. and Midway Airlines Corporation

Summary

This agreement is a lease supplement between Bombardier Capital Inc. (Lessor) and Midway Airlines Corporation (Lessee), dated January 31, 2001. It documents the delivery and lease of a specific Bombardier aircraft (tail number N591ML) and its engines to Midway Airlines. The lease term begins on the delivery date and continues until February 28, 2002, unless ended earlier as specified in the main lease agreement. The supplement incorporates all terms of the original lease and is governed by New York law.

EX-10.141 12 0012.txt LEASE SUPPLEMENT Note to Exhibit 10.141 The following Lease Supplement No. 1 is substantially identical in all material respects to the additional Lease Supplements No. 1 except as follows: - ----------------------------------------------------------- Aircraft (Tail No.) - ----------------------------------------------------------- N591ML* - ----------------------------------------------------------- N592ML - ----------------------------------------------------------- N593ML - ----------------------------------------------------------- - ------- * Filed document EXHIBIT 10.141 CONFORMED COPY LEASE SUPPLEMENT NO. 1 [N591ML] ------------------------------- THIS LEASE SUPPLEMENT NO. 1 [N591ML] dated January 31, 2001, between BOMBARDIER CAPITAL INC., the Lessor, and MIDWAY AIRLINES CORPORATION, a Delaware corporation, the Lessee; W I T N E S S E T H : WHEREAS, the Lessor and the Lessee have heretofore entered into that certain Lease Agreement [N591ML], dated as of January 31, 2001 (the "Lease", the terms defined therein being herein used with the same meaning), which Lease provides, among other things, for the execution and delivery of Lease Supplements in substantially the form hereof for the purpose of leasing a specific Aircraft under the Lease when delivered by the Lessor to the Lessee in accordance with the terms thereof; WHEREAS, the Lease, a counterpart of which is attached hereto and made a part hereof, relates to the Aircraft and Engines described in Schedule I hereto and this Lease Supplement, together with such attachment, is being filed for recordation on the date hereof with the FAA as one document; NOW, THEREFORE, in consideration of the premises and other good and sufficient consideration, and pursuant to Section 2 of the Lease, the Lessor and the Lessee hereby agree as follows: 1. The Lessor hereby delivers and leases to the Lessee, and the Lessee hereby accepts and leases from the Lessor, under the Lease as herein supplemented, the Aircraft, described in Schedule I hereto. 2. The Delivery Date is the date of this Lease Supplement set forth in the opening paragraph hereof. 3. The Term shall commence on the Delivery Date and continue through February 28, 2002 (the " Expiration Date"), unless terminated earlier as provided in the Lease. 4. Lessee hereby confirms to Lessor that Lessee has duly and irrevocably accepted the Aircraft under and for all purposes hereof, of the Lease and of the other Operative Agreements. 5. All of the terms and provisions of the Lease are hereby incorporated by reference in this Lease Supplement to the same extent as if fully set forth herein. 6. This Lease Supplement may be executed by the parties hereto in separate counterparts and all such counterparts shall together constitute but one and the same instrument. To the extent, if any, that this Lease Supplement constitutes chattel paper (as such term is defined in the Uniform Commercial Code as in effect in any applicable jurisdiction), no security interest in this Lease Supplement or the Lease may be created through the transfer or possession of any counterpart other than the original counterpart of each thereof containing the receipt therefor executed by the Lessor on the signature page of each thereof. 7. THIS LEASE SUPPLEMENT HAS BEEN DELIVERED IN THE STATE OF NEW YORK AND SHALL IN ALL RESPECTS BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE. [Signature Page Follows] IN WITNESS WHEREOF, the Lessor and the Lessee have each caused this Lease Supplement to be duly executed by their authorized officers as of the day and year first above written. BOMBARDIER CAPITAL INC. By: /s/ Michel Bourgeois -------------------------------------- Name: Michel Bourgeois Title: Vice President & General Manager By: /s/ Lawrence F. Assell --------------------------------------- Name: Lawrence F. Assell Title: Vice President & General Manager MIDWAY AIRLINES CORPORATION By: /s/ Jonathan S. Waller ---------------------------------------- Name: Jonathan S. Waller Title: Senior Vice President General Counsel TO THE EXTENT, IF ANY, THAT THIS LEASE SUPPLEMENT CONSTITUTES CHATTEL PAPER (AS SUCH TERM IS DEFINED IN THE UNIFORM COMMERCIAL CODE AS IN EFFECT IN ANY APPLICABLE JURISDICTION), NO SECURITY INTEREST IN THIS LEASE SUPPLEMENT MAY BE CREATED THROUGH THE TRANSFER OR POSSESSION OF ANY COUNTERPART HEREOF OTHER THAN THE ORIGINAL COUNTERPART CONTAINING THE RECEIPT THEREFOR EXECUTED BY THE LESSOR IMMEDIATELY FOLLOWING THIS LEGEND. Receipt of this original counterpart of the foregoing Lease Supplement is hereby acknowledged on this _____ day of January 2001. BOMBARDIER CAPITAL INC. By:___________________________________ Name: Title: By:____________________________________ Name: Title: SCHEDULE I DESCRIPTION OF AIRFRAME AND ENGINES ----------------------------------- AIRFRAME

ENGINES

Each Engine is of 750 or more "rated take-off horsepower" or the equivalent of such horsepower.