Guarantee and Collateral Agreement (2011)Full Document 

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GUARANTEE AND COLLATERAL AGREEMENT

made by


CARGO AIRCRAFT MANAGEMENT, INC.

and certain of its Affiliates

in favor of


SUNTRUST BANK,
as Administrative Agent


Dated as of May 9, 2011




LEGAL02/32605971v5

Page

TABLE OF CONTENTS

Section 1.    DEFINED TERMS    1
1.1.    Definitions    1
1.2.    Other Definitional Provisions    3
Section 2.    GUARANTEE    3
2.1.    Guarantee    3
2.2.    Right of Contribution    4
2.3.    No Subrogation    4
2.4.    Amendments, etc., with respect to the Borrower Obligations    5
2.5.    Guarantee Absolute and Unconditional    5
2.6.    Reinstatement    6
2.7.    Payments    6
Section 3.    GRANT OF SECURITY INTEREST    6
Section 4.    REPRESENTATIONS AND WARRANTIES    7
4.1.    Title; No Other Liens    7
4.2.    Perfected First Priority Liens    7
4.3.    Jurisdiction of Organization    7
4.4.    Restricted Capital Stock and Restricted Accounts    7
4.5.    Aircraft.    8
Section 5.    COVENANTS    8
5.1.    Maintenance of Insurance    8
5.2.    Maintenance of Perfected Security Interest; Further Documentation    8
5.3.    Changes in Locations, Name, etc.    8
5.4.    Notices    9
5.5.    Restricted Capital Stock and Restricted Accounts    9
5.6.    Aircraft    9
5.7.    Further Assurances.    10
Section 6.    REMEDIAL PROVISIONS    11
6.1.    Proceeds to be Turned Over to Administrative Agent    11
6.2.    Application of Proceeds    11
6.3.    Code and Other Remedies    11
6.4.    Deficiency    12
6.5.    Maintenance of United States Citizenship of Grantors    12
Section 7.    THE ADMINISTRATIVE AGENT    12
7.1.    Administrative Agent’s Appointment as Attorney-in-Fact, etc.    12
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