Lease Supplement No. 1 to Aircraft Lease Agreement No. 1 between Chautauqua Airlines, Inc. and Lambert Leasing, Inc.

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Summary

This agreement is a supplement to an existing aircraft lease between Chautauqua Airlines, Inc. (lessee) and Lambert Leasing, Inc. (lessor). It confirms the delivery and acceptance of a specific Saab-Fairchild 340A aircraft, including its engines and propellers, and sets out key terms such as the lease term (March 9, 1995 to March 8, 2005), payment schedule, and insurance requirements. The lessee agrees to pay monthly rent and stipulated loss values as specified in the lease. The agreement also confirms that all conditions and warranties have been met as of the delivery date.

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EX-10.16(A) 50 a2071795zex-10_16a.txt (800) 688 - 1933 LEASE SUPPLEMENT NO.1 LEASE SUPPLEMENT N0. 1, dated March 9, 1995 ("Lease Supplement No. 1") to Aircraft Lease Agreement No. 1 dated as of February 1, 1995 (the "Lease") by and between CHAUTAUQUA AIRLINES, INC., as lessee ("Lessee"), and LAMBERT LEASING, INC., as lessor ("Lessor"). I N T R O D U C T I O N WHEREAS, Lessor and Lessee have heretofore entered into the Lease (defined terms therein being hereinafter used with the same meanings). The Lease provides for the execution and delivery of a Lease Supplement for the purpose of leasing the Aircraft under the Lease as and when delivered by Lessor to Lessee in accordance with the terms thereof; and WHEREAS, a counterpart of the Lease, with this Lease Supplement No. 1 attached thereto, is being filed for recordation with the FAA Aircraft Registry as one document; NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and adequacy of which are .hereby acknowledged Lessor and Lessee hereby agree as follows: A. THE AIRCRAFT. Lessee hereby confirms to Lessor that Lessee has accepted. the Aircraft and each Engine and Propeller described below for all purposes hereof and of the Lease as being airworthy, in accordance with specifications, in good working order and repair and without defect in condition, design, operation ox fitness for use, whether or not discoverable by Lessee as of the date hereof; PROVIDED, HOWEVER, that nothing contained herein or in the Lease diminishes or affects any right Lessor or Lessee may have with respect to the Aircraft against the Manufacturer, GE, Dowty, any vendor or any subcontractor or supplier thereof: 1
AIRFRAME MANUFACTURER MODEL SERIAL NUMBER U.S. REG. NO. Saab-Fairchild 340A 340A-004 N340CA INSTALLED ENGINES RATED MANUFACTURER MODEL SERIAL NUMBER TAKEOFF H/P General CT7-5A GE-E-367-146 (left) Each of which Electric GE-E-367-182 (right) Engines has 750 or more rated take off horsepower or the equivalent thereof INSTALLED PROPELLERS RATED TAKEOFF MANUFACTURER MODEL SERIAL NUMBER SHAFT H/P Dowty Rotol R354/4- DRG/7828/82 (left) Each of which 123-F/13 DRG/3754/84 (right) Propellers is capable of absorbing 750 or more rated take off shaft horsepower. SPARE ENGINE RATED MANUFACTURER MODEL SERIAL NUMBER TAKEOFF H/P General CT7-5A GE-E-367-123 750 or more rated take off horse- Electric power or the equivalent thereof.
B. STIPULATED LOSS VALUE. Lessee hereby agrees to pay in accordance with and when required by the Lease Stipulated Loss Value payments in the amounts set forth in Annex 1 to the Lease Rent Schedule and incorporated herein by reference. C. REPRESENTATIONS BY LESSEE. Lessee hereby represents and warrants to Lessor that on the above date: (1) The representations and warranties of Lessee set forth in the Lease are true and correct in all material respects as though made on the date above; 2 (2) Lessee has satisfied or complied with all requirements in the Lease, to be completed by it on or prior to the date hereof; (3) No Default or Event of Default has occurred and is continuing on the date above; and (4) Lessee has obtained, and there are in full force and effect, such insurance policies with respect to the Aircraft, as are required to be obtained under the terms of the Lease. D. DELIVERY DATE: March 9, 1995 E. TERM: The Term shall commence on the Delivery Date and expire on March 8, 2005, unless terminated earlier pursuant to and in accordance with the Lease. F. BASE RENT: Lessee agrees to pay Lessor, Base Rent monthly in arrears, in the amounts and on the dates, as set forth in the Lease Rent Schedule. G. FIRST BASE RENT April 9, 1995 PAYMENT DATE: H. BASE RENT Base Rent during the Term shall be PAYMENT DATE paid on the same day of each month as the day of the month of the First Base Rent Payment Date: I. AIRCRAFT BASE: Indianapolis, Indiana or Akron, Ohio. J. DELIVERY SITE: St. Louis, Missouri K. COUNTERPARTS: This Lease Supplement No. 1 may be executed in any number of counterparts and by the parties hereto on separate counterparts, each of which counterparts, shall for all purposes be deemed an original, and all such counterparts shall together constitute but one and the same Lease Supplement No. 1. 3 L. REFERENCE: A11 the terms and provisions of the Lease are hereby incorporated by reference in this Lease Supplement No. 1 to the same extent as if fully set forth herein. IN WITNESS WHEREOF, Lessor and Lessee have caused this Lease Supplement No. 1 to be duly executed by their authorized officers as of the day and year first above written. LAMBERT LEASING, INC., as Lessor By: /s/ Gena H. Laurent -------------------------------------- Gena H. Laurent Vice President By: /s/ Bengt Nilsson -------------------------------------- Bengt Nilsson Treasurer and Credit Manager CHAUTAUQUA AIRLINES, INC., as Lessee By: /s/ Timothy L. Coon -------------------------------------- Timothy L. Coon Senior Vice President 4 Lease Rent Schedule Aircraft Lease Agreement No. 1
Basic Rent Date PMT No. Payment [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT]
Stipulated Loss Value Table Schedule 1 to Lease SAAB 340A- 004 Rent Schedule
Date PMT No. Stipulated Loss Value [CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT]