EXHIBIT 10.45(1)
CONFIDENTIAL PORTIONS HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT
REQUEST.
FIRST AMENDMENT
TO THE AIRCRAFT PURCHASE AGREEMENT
BETWEEN
DORNIER LUFTFAHRT GMBH
AND
ATLANTIC COAST AIRLINES
Dornier Luftfahrt GmbH ("Seller") and Atlantic Coast
Airlines ("Purchaser"), have entered into an Aircraft Purchase
Agreement dated March 31, 1999 (the "Agreement"), concerning the
sale of certain Dornier 328-300 and 428 aircraft. The Capitalized
Terms used without definition in this First Amendment shall have
the meaning ascribed to them in the Agreement.
WHEREAS, the parties hereto wish to amend certain
provisions of the Agreement;
NOW, THEREFORE, in consideration of the premises and
mutual covenants hereinafter contained, the parties hereto agree as
follows:
1. The Agreement is hereby amended by:
a. Definitions - ----------------------------
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b. Definitions - inserting the following new
definitions between "FAT" and "Insurance Items":
"Group A Aircraft - The Aircraft identified as
Group A Aircraft to be delivered to Purchaser
in accordance with the delivery schedule set
forth in Exhibit III."
"Group B Aircraft - The Aircraft identified as
Group B Aircraft to be delivered to Purchaser
in accordance with the delivery schedule set
forth in Exhibit III."
c. Article 1.1, replacing the words "fifty-
five (55)" with "eighty (80)".
d. Article 1.2, replacing (i) the words
"twenty-five (25)" in the first sentence with "forty
(40)", (ii) ------------------- in the second sentence
with--------- and (iii) the words -----------------------
- in the third sentence with ----------------------------
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------------------------
e. Article 2.1b, replacing the numbers "26-
55" in the second sentence with "41-80".
f. Article 2.2, replacing the date "February
2003" and the numbers "26-55" with "September 2002" and
"41-80", respectively.
g. Article 2.2a, replacing ------------------
------------------------------------------------------
with -----
h. Article 2.2c, replacing (i) the year
"2003" in the first sentence with "2002", (ii) the date
"December 31, 2001" in the second sentence with "July 31,
2001", and (iii) the date "June 2004" in the third
sentence with "January 2004".
i. Article 2.2, inserting the following at
the end of the article as Article 2.2e:
"e. -------------------------------------
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j. Article 2.3, replacing ---------------
with -----
k. Article 2.5, replacing the numbers "26-55"
with "41-80".
l. Article 4.1b, deleting the second sentence
in its entirety and replacing it with the following:
"The Initial Deposit of ----------, the
Additional Deposit of ------------- and the
deposit paid in connection with the first
amendment in the amount of ------------ will be
held by Seller for a total deposit of ---------
---- ("Deposit") representing a ----------
deposit with respect to each Aircraft."
m. Article 8.2, replacing the words "In the
event Purchaser elects to change the Aircraft
configuration or its selected Optional Equipment, the"
with "Purchaser shall provide Seller with its interior
selections for the Group A Aircraft by no later than
October 1, 1999, Group A paint scheme for the Group A
Aircraft by no later than October 31, 1999, and the
interior/exterior selections for the Group B Aircraft by
no later than May 31, 2000. Any".
n. Article 11.1a.(iii), adding the following
sentence at the end of the article:
"A delay of delivery of the 2002 428JETs, as
defined below, pursuant to Article 12.5 shall
also constitute an Excusable Delay."
o. Article 12, inserting the following at the
end of the article as Article 12.5:
"12.5 Notwithstanding the provisions of Article 12, any late
delivery penalties under Article 12 will not apply to the four (4)
428JET Aircraft scheduled for delivery during 2002 ("2002 428JETs")
until such time as Seller has reconfirmed the delivery date of the
2002 428JETs. Seller shall reconfirm the delivery dates ("428JET
Delivery Reconfirmation") for the 2002 428JETs no later than one
hundred twenty (120) days prior to the scheduled delivery date,
provided however, if Seller determines, prior to the dates required
for 428JET Delivery Reconfirmation, that it will be unable to
deliver said aircraft on the delivery dates set forth herein, then,
no later than the date by which Delivery Reconfirmation is due,
Seller shall notify Purchaser of a delay in delivery and provide
Purchaser with a new revised delivery schedule. The Parties will
work together to complete the delivery of the aircraft at the
earliest possible time, provided that Purchaser will not be
required to accept delivery on less than 120 days notice, or to
accept delivery of more than two Aircraft in any one month. A
delay in delivery of a 2002 428JET may be resolved by deferring
said delivery to a month to be mutually agreed, but no later than
November 2005. Any delay in delivery of a 2002 428JET pursuant to
this paragraph 12.5 shall be considered an Excusable Delay. ------
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p. Article 19.1, replacing ------------------
---------------------------------.
q. Article 19.2, replacing ------------------
with ----------------------------.
r. Article 20.1, replacing ------------------
--------- with --------------
s. Article 20.2 and 20.2a, second paragraph,
replacing ----------------with -----
t. Article 20.2i, replacing -----------------
-------- with ---------------
u. Article 20.3, second paragraph, inserting
the following at the end of the second sentence:
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v. Article 20.4, replacing-------------------
-------------------------------------- with -------------
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w. Article 20.9, inserting (i) the ----------
----------------------after -----------------------------
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x. Article 21.1, replacing the words "fifty-
five (55)" with "eighty-five (85)."
y. Article 21.9, replacing ------------------
--------- with -------------------
z. Article 21.11, replacing -----------------
-----------------------------------------with-----------
aa. Article 23, inserting -------------------
prior to ------------------------------------------------
-----------------
bb. Article 25.1, replacing the words "this
Agreement" in the first sentence with "the sale to
Purchaser of the Group B Aircraft."
cc. Article 25.2, deleting subparagraphs a, b,
c and d in their entirety and replacing with the
following subparagraphs:
"a. If Purchaser receives the United
Approval on or before April 30, 2000,
the Group B 328-300 Aircraft will be
delivered according to the Delivery
Schedule.
b. If Purchaser receives
United Approval after April 30, 2000,
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------------The remaining -----------
---328-300 Group B Aircraft will be
delivered as scheduled. Seller will
advise Purchaser of any rescheduling
decision within -----------------of
the United Approval receipt.
c. If Purchaser does not receive the
United Approval on or before --------
-----, the entire fifteen (15) 328-
300 Group B Aircraft scheduled in
Exhibit III may, at Seller's sole
option, be delayed by up to ---------
--------- from the date the United
Approval is received, unless Seller
and Purchaser agree on earlier
deliveries. Seller will advise
Purchaser of any rescheduling
decision within ---------------- of
the United Approval receipt.
Purchaser shall not be required to
accept an Aircraft delivery with less
than ---------------advance notice.
d. Any 328-300 Group B Aircraft Delivery
Schedule adjustments addressed above
will not cause the rescheduling of
428JET Aircraft deliveries under the
Group B Aircraft Delivery Schedule in
Exhibit III.
e. If any of the 328-300 Aircraft in
Group B are rescheduled beyond
February 2003, Purchaser may, at its
sole option, replace such 328-300
Aircraft with a firm order for 428JET
Aircraft. Purchaser shall advise
Seller, within -----------------after
receipt of Seller's notice to
Purchaser of the rescheduling, that
Purchaser has elected to replace 328-
300 Aircraft with a firm order for
428JET Aircraft. -------------------
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f. If Seller shall have the right to
reschedule any of the delivery
positions, as set forth in this
Article 25 upon receipt of the United
Approval, it shall not reschedule any
328-300 Aircraft that has not been
sold to a third party buyer prior to
Seller's --------------- notice to
Seller as required in Articles 25.b
and c. above."
dd. Article 25.3, (i) replacing the words
"twenty-five (25)" with "the" and (ii) inserting the
words "Group B Aircraft" after the numbers "328-300."
ee. Article 25.5, inserting the words --------
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ff. Article 28.1, replacing ------------------
--- with -----------
gg. Article 28.1c., replacing the number
"fifty-five (55)" with "eighty (80)".
hh. Article 28.2, replacing ------------------
--- with -----------
ii. Article 29.1, replacing ------------------
--------------- with ----------
jj. Article 29.2, subparagraphs a. and b.,
replacing ------------------- with ----------------------
----------------
kk. Article 29.2c, replacing -----------------
---------------- with --------------------------------
ll. Article 29.3b, replacing -----------------
---with --------
mm. Article 35.12, (I) replacing the word
"events" with "event" and (ii) deleting the words "and
removal of the Condition Precedent set forth in Article
25", from the first paragraph.
nn. Exhibit III, Delivery Schedule, replacing
the exhibit in its entirety with Exhibit III, Delivery
Schedule attached hereto as Attachment 1.
oo. Exhibit IX, Clause IX.1.1(i), inserting
(i) "and at such time as the total number of Aircraft on
firm order (without condition for United Approval) is at
least 56, a second set of Job Instruction Cards" after
the word "Cards" and (ii) the following sentence after
the fourth sentence:
"At such time as the total number of Aircraft
on firm order (without condition for United
Approval) is at least --, Seller will ---------
---------- of Seller's Technical Publications
and Documentation to be delivered to Purchaser
in accordance with Annex A, except for those
Technical Publications and Documentation
identified in Annex A to be provided on a per-
Aircraft basis."
pp. Exhibit IX, Clause IX.1.4.d, replacing the
words "Upon Purchaser providing its first Notice of
Exercise, as that term is defined in Article 21.2c," with
"At such time as Aircraft number ---is delivered to
Purchaser."
qq. Exhibit IX, Clause IX.2.2g(iv), replacing
the third sentence in its entirety with the following two
sentences:
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rr. Exhibit IX, Clause IX.2.2g(iv), replacing
the last sentence in its entirety with the following:
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ss. Exhibit IX, Clause 2.6, replacing the
words "Not later than thirty (30) days after Purchaser's
receipt of the United Approval" with "By no later than
October 10, 1999."
tt. Exhibit IX, Clause IX.2.9 and IX.2.9b,
replacing the with -----
uu. Exhibit IX, inserting the following at the
end of Clause 2 as Clause 2.11:
"IX.2.11 -------------------------------------
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vv. Exhibit IX, Clause IX.3.5c, amending the
table by adding the following at the end of the table:
----------------------
ww. Exhibit IX, Clause IX.3.6, (i) replacing -
---------------------------with ------------- in the
first sentence of subparagraph a., (ii) replacing -------
-------------------" in subparagraph b. with ------------
------- and (iii) inserting a new subparagraph c. as
follows:
"c. -------------------------------------
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xx. Exhibit IX, Clause 4.a, inserting the
following sentence after the first sentence:
"The period of assignment will be extended
by ---------------for each Aircraft of
Aircraft numbers -----delivered to
Purchaser."
yy. Exhibit XIII, (i) replacing the number
"fifty-five (55)" with "eighty (80)" in the definitions
for "Eligible Aircraft" and "Guaranteed Amount", (ii)
replacing ------------------------------------- with ----
-----------------------------------, and (iii) deleting
the chart included with the definition for "Guaranteed
Reconciliation Period Amount" in its entirety and
replacing with the Guaranteed Reconciliation Period
Amount Chart attached hereto as Attachment 2.
2. Purchaser has paid to Seller, in connection
with the purchase of fifteen (15) Dornier 328-300 Aircraft and
ten (10) 428JET Aircraft as outlined in the Memorandum of
Understanding dated September 3, 1999, between the parties, a
cash deposit in the amount of ---------------------- for a
total deposit of ---------- ("MOU Deposit"). The MOU Deposit
will become non-refundable upon execution of this Amendment,
except as otherwise provided for in the Agreement. An
additional deposit of ------------ shall be paid to Seller
upon execution of this First Amendment ("Amendment Deposit").
Paragraph 1.k above amends the Agreement accordingly.
3. Purchaser will be permitted to execute Option
Aircraft during any such time that the Condition Precedent for
United Approval may not have been met.
4. Except as specifically amended above, the
Agreement shall remain in full force and effect and is hereby
ratified and confirmed.
5. This First Amendment may be executed in any
number of counterparts, each of which when so executed and
delivered shall be deemed to be an original and all of which
taken together shall constitute but one and the same
instrument.
[NEXT PAGE IS SIGNATURE PAGE]
IN WITNESS WHEREOF, the parties hereto have entered into
this First Amendment to the Aircraft Purchase Agreement effective
this 10th day of September 1999.
DORNIER LUFTFAHRT GMBH
BY:
TITLE:
ATLANTIC COAST AIRLINES
BY:
TITLE:
ATTACHMENT 1
EXHIBIT III
DELIVERY SCHEDULE
GROUP A
Number of 328-300
Aircraft/428JET Year
Aircraft
-- ---- -----------------------------------
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-------------------
-- ---- -----------------------------------
-----------------------------------
----------------
GROUP B
Number of 328-300
Aircraft/428JET Year
Aircraft
- ---- -----------------------------------
-----------------------------------
---------------------------
- --- ---- -----------------------------------
-----------------
- ---- ---- -----------------------------------
----------------------
- --- ---- -----------------------------------
-------------------
- --- ---- ---------------------------
- --- ---- -----------------------------------
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ATTACHMENT 2
GUARANTEED RECONCILIATION PERIOD AMOUNT CHART
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