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This excerpt taken from the AYR 8-K filed May 5, 2008. Drawdown. The Loans were fully drawn on
May 2, 2008 and deposited in an aircraft purchase escrow
account. The
Loan with respect to each Aircraft will be released from escrow upon satisfaction of certain conditions
precedent and transfer of
an aircraft-owning entity
holding title to such
Aircraft to the relevant Borrower. If the transfer of any of
the Aircraft is not completed on or prior to October 29, 2008, then the Loan for
such Aircraft will be
withdrawn from the aircraft purchase escrow account, and such Loan plus an additional 10% in funds
to be provided by the Borrower, shall be applied to reduce the outstanding
principal balance of the Loans. Aircastle expects to
complete the transfer of
all of the Aircraft on or prior to October 29, 2008.
This excerpt taken from the AYR 8-K filed May 5, 2008. Drawdown. The Loans were fully drawn on
May 2, 2008 and deposited in an aircraft purchase escrow
account. The
Loan with respect to each Aircraft will be released from escrow upon satisfaction of certain conditions
precedent and transfer of
an aircraft-owning entity
holding title to such
Aircraft to the relevant Borrower. If the transfer of any of
the Aircraft is not completed on or prior to October 29, 2008, then the Loan for
such Aircraft will be
withdrawn from the aircraft purchase escrow account, and such Loan plus an additional 10% in funds
to be provided by the Borrower, shall be applied to reduce the outstanding
principal balance of the Loans. Aircastle expects to
complete the transfer of
all of the Aircraft on or prior to October 29, 2008.
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