{"id":41045,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/guarantee-of-obligations-under-pass-through-trust-agreement.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"guarantee-of-obligations-under-pass-through-trust-agreement","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/finance\/guarantee-of-obligations-under-pass-through-trust-agreement.html","title":{"rendered":"Guarantee &#8211; Of Obligations Under Pass-Through Trust Agreement &#8211; AMR Corp."},"content":{"rendered":"<p align=\"center\">GUARANTEE<\/p>\n<p align=\"center\">\n<p align=\"center\">From<\/p>\n<p align=\"center\">\n<p align=\"center\">AMR CORPORATION<\/p>\n<p align=\"center\">\n<p align=\"center\">as Guarantor<\/p>\n<p align=\"center\">\n<p align=\"center\">to<\/p>\n<p align=\"center\">\n<p align=\"center\">U.S. BANK TRUST NATIONAL ASSOCIATION<\/p>\n<p align=\"center\">\n<p align=\"center\">as Pass Through Trustee under the Class A Pass Through Trust<br \/>\nAgreement, <br \/>\nSubordination Agent and Loan Trustee<\/p>\n<p align=\"center\">\n<p align=\"center\">Dated as of October 4, 2011<\/p>\n<p align=\"center\">\n<p align=\"center\">American Airlines Pass Through Trust 2011-2A<\/p>\n<p align=\"center\">\n<hr>\n<p align=\"center\"><strong>GUARANTEE<\/strong><\/p>\n<p align=\"center\">\n<p>This Guarantee (this &#8220;<u>Guarantee<\/u>&#8220;), made and entered into as of October<br \/>\n4, 2011, from AMR CORPORATION, a corporation duly organized and existing under<br \/>\nthe laws of the State of Delaware and having its principal office at 4333 Amon<br \/>\nCarter Boulevard, Fort Worth, Texas 76155, as guarantor (the<br \/>\n&#8220;<u>Guarantor<\/u>&#8220;), to U.S. BANK TRUST NATIONAL ASSOCIATION, in its individual<br \/>\ncapacity (&#8220;<u>U.S. Bank Trust<\/u>&#8220;) and as Pass Through Trustee under the Class<br \/>\nA Pass Through Trust Agreement, Subordination Agent, and Loan Trustee<br \/>\n(collectively, together with their successors and permitted assigns (including<br \/>\nany subsequent holder of any Guaranteed Equipment Note (as defined below)), the<br \/>\n&#8220;<u>Beneficiaries<\/u>&#8221; and, individually, a &#8220;<u>Beneficiary<\/u>&#8220;).<\/p>\n<\/p>\n<p align=\"center\"><strong>RECITALS<\/strong><\/p>\n<p align=\"center\">\n<p>American Airlines, Inc., a Delaware corporation and wholly-owned subsidiary<br \/>\nof the Guarantor (together with its successors and permitted assigns, the<br \/>\n&#8220;<u>Company<\/u>&#8220;) is entering into that certain Note Purchase Agreement, dated<br \/>\nas of the date hereof (the &#8220;<u>Note Purchase Agreement<\/u>&#8220;), among the Company,<br \/>\nthe Class A Pass Through Trustee, the Subordination Agent, U.S. Bank National<br \/>\nAssociation, as Escrow Agent, and U.S. Bank Trust National Association, as<br \/>\nPaying Agent, relating to the aircraft identified in Schedule I to the Note<br \/>\nPurchase Agreement (collectively, the &#8220;<u>Aircraft<\/u>&#8220;). Defined terms used<br \/>\nherein without definition shall have the meanings assigned to them in Annex A to<br \/>\nthe Note Purchase Agreement, or, if not defined therein, in the Class A Pass<br \/>\nThrough Trust Agreement.<\/p>\n<\/p>\n<p>In order to finance the Aircraft, the Company will issue the Series A<br \/>\nEquipment Notes (collectively, the &#8220;<u>Guaranteed Equipment Notes<\/u>&#8220;) under<br \/>\nthe Indentures.<\/p>\n<\/p>\n<p>It is a condition precedent to the obligations of the Beneficiaries to<br \/>\nconsummate the transactions contemplated by the Note Purchase Agreement that the<br \/>\nGuarantor execute and deliver this Guarantee.<\/p>\n<\/p>\n<p>Accordingly, for and in consideration of the premises and of other good and<br \/>\nvaluable consideration, the Guarantor does hereby covenant and agree with the<br \/>\nBeneficiaries from and after the execution of the Note Purchase Agreement as<br \/>\nfollows:<\/p>\n<\/p>\n<p align=\"center\">ARTICLE I<\/p>\n<p align=\"center\">\n<p align=\"center\"><u>Representations and Warranties of Guarantor<\/u><\/p>\n<p align=\"center\">\n<p>SECTION 1.1. <u>Guarantor Representations and Warranties<\/u>. The Guarantor<br \/>\ndoes hereby represent and warrant that: it is a corporation duly incorporated<br \/>\nand in good standing under the laws of the State of Delaware; it has the power<br \/>\nto enter into and perform this Guarantee and to own its corporate property and<br \/>\nassets; it has duly<\/p>\n<\/p>\n<hr>\n<p>authorized the execution and delivery of this Guarantee by proper corporate<br \/>\naction; and neither this Guarantee, nor the authorization, execution, delivery<br \/>\nand performance hereof, nor the performance of the agreements herein contained<br \/>\nnor the consummation of the transactions herein contemplated will violate in any<br \/>\nmaterial respect any provision of law, any order of any court or agency of<br \/>\ngovernment or any agreement, indenture or other instrument to which the<br \/>\nGuarantor is a party or by which it or its property is bound, or in any material<br \/>\nrespect be in conflict with or result in a breach of or constitute a default<br \/>\nunder any indenture, agreement or other instrument or any provision of its<br \/>\ncertificate of incorporation, bylaws or any requirement of law. This Guarantee<br \/>\nconstitutes the legal, valid and binding obligation of the Guarantor enforceable<br \/>\nagainst the Guarantor in accordance with its terms, except as the enforceability<br \/>\nhereof may be limited by applicable bankruptcy, insolvency, reorganization,<br \/>\nmoratorium or similar laws affecting the rights of creditors generally and by<br \/>\ngeneral equitable principles.<\/p>\n<\/p>\n<p align=\"center\">ARTICLE II<\/p>\n<p align=\"center\">\n<p align=\"center\"><u>Guarantee of Obligations<\/u><\/p>\n<p align=\"center\">\n<p>SECTION 2.1. <u>Obligations Guaranteed<\/u>. The Guarantor hereby<br \/>\nunconditionally guarantees to each of the Beneficiaries, as their respective<br \/>\ninterests may appear, the full and prompt payment by the Company, when and as<br \/>\nthe same shall become due and payable, whether at the stated payment date<br \/>\nthereof, by acceleration, or otherwise, of, and the faithful performance and<br \/>\ncompliance with, all payment obligations of the Company under the Note Purchase<br \/>\nAgreement, the Participation Agreements, the Indentures, the Guaranteed<br \/>\nEquipment Notes and the Class A Pass Through Trust Agreement owed to the<br \/>\nBeneficiaries strictly in accordance with the terms thereof, however created,<br \/>\narising or evidenced, whether direct or indirect, primary or secondary, absolute<br \/>\nor contingent, joint or several, and whether now or hereafter existing or due or<br \/>\nto become due (such payment obligations, the &#8220;<u>Obligations<\/u>&#8220;);<br \/>\n<u>provided<\/u> that in no event shall the &#8220;Obligations&#8221; include any obligation<br \/>\nof the Company with respect to, or determined with respect to, any Series B<br \/>\nEquipment Notes, Class B Certificates, Refinancing Equipment Notes, Refinancing<br \/>\nCertificates, Additional Series Equipment Notes or Additional Series Pass<br \/>\nThrough Certificates or any liquidity facility with respect to any Class B<br \/>\nCertificates, Refinancing Certificates or Additional Series Pass Through<br \/>\nCertificates. If for any reason the Company shall fail punctually to pay any<br \/>\nsuch Obligations, the Guarantor hereby agrees to cause any such payment to be<br \/>\nmade punctually when and as the same shall become due and payable, whether at<br \/>\nthe stated payment date thereof, by acceleration, or otherwise. All payments by<br \/>\nthe Guarantor hereunder shall be paid in lawful money of the United States of<br \/>\nAmerica.<\/p>\n<\/p>\n<p>SECTION 2.2. <u>Obligations Unconditional<\/u>. The obligations of the<br \/>\nGuarantor under this Guarantee shall be absolute, unconditional and irrevocable<br \/>\nand shall constitute a continuing and present guarantee of payment and not of<br \/>\ncollectability. Such obligations<\/p>\n<\/p>\n<p align=\"center\">2<\/p>\n<p align=\"center\">\n<hr>\n<p>shall remain in full force and effect until the Obligations are finally,<br \/>\nindefeasibly and unconditionally paid in full in accordance with the terms of<br \/>\nthe Note Purchase Agreement, the Participation Agreements, the Indentures, the<br \/>\nGuaranteed Equipment Notes and the Class A Pass Through Trust Agreement, and, to<br \/>\nthe maximum extent permitted by applicable law, such obligations shall not be<br \/>\naffected, modified, released or impaired by any state of facts or the happening<br \/>\nfrom time to time of any event, including, without limitation, any of the<br \/>\nfollowing, whether or not with notice to, or the consent of, the Guarantor:<\/p>\n<\/p>\n<p>(a) the waiver, compromise, settlement, release or termination of any or all<br \/>\nof the obligations, covenants or agreements of the Company contained in the Note<br \/>\nPurchase Agreement, the Participation Agreements, the Indentures, the Guaranteed<br \/>\nEquipment Notes or the Class A Pass Through Trust Agreement, or of the payment,<br \/>\nperformance or observance thereof;<\/p>\n<\/p>\n<p>(b) the failure to give notice to the Guarantor of the occurrence of any<br \/>\ndefault or an Event of Default under the terms and provisions of the Note<br \/>\nPurchase Agreement, the Participation Agreements, the Indentures, the Guaranteed<br \/>\nEquipment Notes or the Class A Pass Through Trust Agreement;<\/p>\n<\/p>\n<p>(c) the assignment or purported assignment of any of the obligations,<br \/>\ncovenants and agreements contained in this Guarantee;<\/p>\n<\/p>\n<p>(d) the extension of the time for payment of any Obligation or of the time<br \/>\nfor performance of any obligations, covenants or agreements under or arising out<br \/>\nof the Note Purchase Agreement, the Participation Agreements, the Indentures,<br \/>\nthe Guaranteed Equipment Notes or the Class A Pass Through Trust Agreement or<br \/>\nthe extension or the renewal of any thereof;<\/p>\n<\/p>\n<p>(e) the modification or amendment (whether material or otherwise) of any<br \/>\nobligation, covenant or agreement set forth in the Note Purchase Agreement, the<br \/>\nParticipation Agreements, the Indentures, the Guaranteed Equipment Notes or the<br \/>\nClass A Pass Through Trust Agreement, other than any such modification or<br \/>\namendment imposing any obligation with respect to, or determined with respect<br \/>\nto, any Series B Equipment Notes, Class B Certificates, Refinancing Equipment<br \/>\nNotes, Refinancing Certificates, Additional Series Equipment Notes or Additional<br \/>\nSeries Pass Through Certificates or any liquidity facility with respect to any<br \/>\nClass B Certificates, Refinancing Certificates or Additional Series Pass Through<br \/>\nCertificates;<\/p>\n<\/p>\n<p>(f) the taking or the omission to take any of the actions referred to in this<br \/>\nGuarantee or in the Note Purchase Agreement, the Participation Agreements, the<br \/>\nIndentures, the Guaranteed Equipment Notes or the Class A Pass Through Trust<br \/>\nAgreement;<\/p>\n<\/p>\n<p align=\"center\">3<\/p>\n<p align=\"center\">\n<hr>\n<p>(g) any failure, omission or delay on the part of, or the inability of, the<br \/>\nBeneficiaries for any reason to enforce, assert or exercise any right, power or<br \/>\nremedy conferred on such Beneficiaries or any other Person in this Guarantee or<br \/>\nin the Note Purchase Agreement, the Participation Agreements, the Indentures,<br \/>\nthe Guaranteed Equipment Notes or the Class A Pass Through Trust Agreement;<\/p>\n<\/p>\n<p>(h) the voluntary or involuntary liquidation, dissolution, merger,<br \/>\nconsolidation, sale or other disposition of all or substantially all the assets,<br \/>\nmarshaling of assets and liabilities, receivership, insolvency, bankruptcy,<br \/>\nassignment for the benefit of creditors, reorganization, arrangement,<br \/>\ncomposition with creditors or readjustment of, or other similar proceedings<br \/>\naffecting the Company or any or all of its assets, or any allegation or contest<br \/>\nof the validity of the Note Purchase Agreement, the Participation Agreements,<br \/>\nthe Indentures, the Guaranteed Equipment Notes or the Class A Pass Through Trust<br \/>\nAgreement or the disaffirmance of the Note Purchase Agreement, the Participation<br \/>\nAgreements, the Indentures, the Guaranteed Equipment Notes or the Class A Pass<br \/>\nThrough Trust Agreement in any such proceeding; it being specifically<br \/>\nunderstood, consented and agreed to, to the maximum extent permitted by<br \/>\napplicable law, that this Guarantee shall remain and continue in full force and<br \/>\neffect and shall be enforceable against the Guarantor to the same extent and<br \/>\nwith the same force and effect as if such proceedings had not been instituted,<br \/>\nand it is the intent and purpose of this Guarantee that the Guarantor shall and<br \/>\ndoes hereby waive, to the maximum extent permitted by applicable law, all rights<br \/>\nand benefits which might accrue to the Guarantor by reason of any such<br \/>\nproceedings;<\/p>\n<\/p>\n<p>(i) any event or action that would, in the absence of this clause, result in<br \/>\nthe release or discharge by operation of law of the Guarantor from the<br \/>\nperformance or observance of any obligation, covenant or agreement contained in<br \/>\nthis Guarantee;<\/p>\n<\/p>\n<p>(j) the default or failure of the Guarantor fully to perform any of its<br \/>\nobligations set forth in this Guarantee;<\/p>\n<\/p>\n<p>(k) the release, substitution or replacement of any security for the<br \/>\nperformance or observation of any of the Obligations;<\/p>\n<\/p>\n<p>(l) any assignment, transfer, lease or other arrangement by which the Company<br \/>\ntransfers possession of or loses control of the use of any Aircraft;<\/p>\n<\/p>\n<p>(m) the disposition by the Guarantor of any or all of its interest in any<br \/>\ncapital stock of the Company, or any change, restructuring or termination of the<br \/>\ncorporate structure, ownership, corporate existence or any rights or franchises<br \/>\nof the Company;<\/p>\n<\/p>\n<p align=\"center\">4<\/p>\n<p align=\"center\">\n<hr>\n<p>(n) any other circumstances which might otherwise constitute a legal or<br \/>\nequitable discharge or defense of a surety or a guarantor; or<\/p>\n<\/p>\n<p>(o) any other occurrence whatsoever, whether similar or dissimilar to the<br \/>\nforegoing.<\/p>\n<\/p>\n<p>SECTION 2.3. <u>No Waiver or Set-Off<\/u>. The Guarantor agrees that, to the<br \/>\nmaximum extent permitted by law, (<u>a<\/u>) no act of commission or omission of<br \/>\nany kind or at any time on the part of any Beneficiary, or its successors and<br \/>\nassigns, in respect of any matter whatsoever shall in any way impair the rights<br \/>\nof the Beneficiaries to enforce any right, power or benefit under this<br \/>\nGuarantee, and (<u>b<\/u>) no set-off, counterclaim, reduction, or diminution of<br \/>\nany obligation, or any defense of any kind or nature (other than performance),<br \/>\nwhich the Guarantor or the Company has or may have against any Beneficiary or<br \/>\nany assignee or successor thereof shall be available hereunder to the Guarantor.\n<\/p>\n<\/p>\n<p>SECTION 2.4. <u>Waiver of Notice; Expenses<\/u>. The Guarantor hereby<br \/>\nexpressly waives notice from the Beneficiaries of their acceptance and reliance<br \/>\non this Guarantee. The Guarantor further waives, to the maximum extent permitted<br \/>\nby law, any right that it may have (<u>a<\/u>) to require the Beneficiaries to<br \/>\ntake action or otherwise proceed against the Company, (<u>b<\/u>) to require the<br \/>\nBeneficiaries to proceed against or exhaust any security granted by the Company<br \/>\nor (<u>c<\/u>) to require the Beneficiaries otherwise to enforce, assert or<br \/>\nexercise any other right, power or remedy that may be available to the<br \/>\nBeneficiaries. The Guarantor agrees to pay all costs, expenses and fees,<br \/>\nincluding all reasonable attorneys&#8217; fees and expenses, that may be incurred by<br \/>\nthe Beneficiaries in enforcing or attempting to enforce this Guarantee or<br \/>\nprotecting the rights of the Beneficiaries following any default on the part of<br \/>\nthe Guarantor hereunder, whether the same shall be enforced by suit or<br \/>\notherwise.<\/p>\n<\/p>\n<p>SECTION 2.5. <u>Subrogation of Guarantor; Subordination<\/u>. Notwithstanding<br \/>\nany payment or payments made by the Guarantor, the Guarantor agrees that it will<br \/>\nnot enforce, by reason of subrogation, contribution, indemnity or otherwise, any<br \/>\nrights the Beneficiaries may have against the Company until all of the<br \/>\nObligations shall have been finally, indefeasibly and unconditionally paid in<br \/>\nfull. Any claim of the Guarantor against the Company arising from payments made<br \/>\nby the Guarantor by reason of this Guarantee shall be in all respects<br \/>\nsubordinated to the final, indefeasible, unconditional, full and complete<br \/>\npayment or discharge of all of Obligations.<\/p>\n<\/p>\n<p>SECTION 2.6. <u>Reinstatement<\/u>. This Guarantee shall continue to be<br \/>\neffective, or be automatically reinstated, as the case may be, if at any time<br \/>\npayment, or any part thereof, made by or on behalf of the Company or the<br \/>\nGuarantor in respect of any of the Obligations is rescinded or must otherwise be<br \/>\nrestored or returned by the Beneficiaries for any reason whatsoever, whether<br \/>\nupon the insolvency, bankruptcy, dissolution, liquidation or reorganization of<br \/>\nthe Company, or upon or as a result of the appointment of<\/p>\n<\/p>\n<p align=\"center\">5<\/p>\n<p align=\"center\">\n<hr>\n<p>a receiver, intervenor or conservator of, or trustee or similar officer for<br \/>\nthe Company or any substantial part of its properties, or otherwise, all as<br \/>\nthough such payment had not been made.<\/p>\n<\/p>\n<p>SECTION 2.7. <u>Rights to Proceed Against the Guarantor<\/u>. In the event of<br \/>\na default in any payment of any Obligation owed to any Beneficiaries,<br \/>\nnotwithstanding anything herein to the contrary, such Beneficiaries shall have<br \/>\nthe right to institute any proceeding, judicial or otherwise, to enforce their<br \/>\nrights under this Guarantee without first instituting a legal proceeding against<br \/>\nthe Company or any other Person.<\/p>\n<\/p>\n<p align=\"center\">ARTICLE III<\/p>\n<p align=\"center\">\n<p align=\"center\"><u>Covenants of the Guarantor<\/u><\/p>\n<p align=\"center\">\n<p>SECTION 3.1. <u>Consolidation or Merger of the Guarantor<\/u>. The Guarantor<br \/>\nmay merge or consolidate with or into any other Person or sell, convey, transfer<br \/>\nor otherwise dispose of all or substantially all of its assets to any Person,<br \/>\nif: (<u>a<\/u>) (<u>i<\/u>) in the case of a merger or consolidation, the<br \/>\nGuarantor is the surviving Person or (<u>ii<\/u>) in the case of a merger or<br \/>\nconsolidation where the Guarantor is not the surviving Person and in the case of<br \/>\nany such sale, conveyance, transfer or other disposition, the resulting,<br \/>\nsurviving or transferee Person is organized and existing under the laws of the<br \/>\nUnited States or a State thereof and such Person expressly assumes by<br \/>\nsupplemental agreement all the obligations of the Guarantor under the Class A<br \/>\nPass Through Trust Agreement and this Guarantee; and (<u>b<\/u>) the Guarantor<br \/>\nshall have delivered to the Class A Pass Through Trustee and each Loan Trustee<br \/>\nan Officer&#8217;s Certificate and an Opinion of Counsel, each stating that such<br \/>\nmerger, consolidation, sale, conveyance, transfer or other disposition complies<br \/>\nwith this Section 3.1 and that all conditions precedent herein provided for<br \/>\nrelating to such transaction have been complied with. In the event of the<br \/>\nassumption by a successor Person of the obligations of the Guarantor as provided<br \/>\nin clause (a)(ii) of the immediately preceding sentence, such successor Person<br \/>\nshall succeed to and be substituted for the Guarantor hereunder and under the<br \/>\nClass A Pass Through Trust Agreement, and all such obligations of the Guarantor<br \/>\nshall terminate.<\/p>\n<\/p>\n<p align=\"center\">ARTICLE IV<\/p>\n<p align=\"center\">\n<p align=\"center\"><u>Notices<\/u><\/p>\n<p align=\"center\">\n<p>SECTION 4.1. <u>Notices<\/u>. All notices required under the terms and<br \/>\nconditions of this Guarantee shall be in writing and in English, and any such<br \/>\nnotice may be given by United States registered or certified mail, return<br \/>\nreceipt requested, overnight courier service or facsimile, and any such notice<br \/>\nshall be effective when received (or, if delivered by facsimile, upon completion<br \/>\nof transmission and confirmation by the sender (by a telephone call to a<br \/>\nrepresentative of the recipient or by machine confirmation) that such<br \/>\ntransmission was received), to the Guarantor addressed to it at AMR Corporation,<br \/>\nMD<\/p>\n<\/p>\n<p align=\"center\">6<\/p>\n<p align=\"center\">\n<hr>\n<p>5566, P.O. Box 619616, Dallas\/Fort Worth Airport, Texas 75261-9616,<br \/>\nAttention: Treasurer. The Guarantor, by notice to the Beneficiaries, may<br \/>\ndesignate additional or different addresses for subsequent notices or<br \/>\ncommunications.<\/p>\n<\/p>\n<p align=\"center\">ARTICLE V<\/p>\n<p align=\"center\">\n<p align=\"center\"><u>Miscellaneous<\/u><\/p>\n<p align=\"center\">\n<p>SECTION 5.1. <u>Evidence of Compliance with Conditions Precedent<\/u>. The<br \/>\nGuarantor shall provide the Class A Pass Through Trustee with such evidence of<br \/>\ncompliance with such conditions precedent, if any, provided for in this<br \/>\nGuarantee that relate to the matters set forth in Section 314(c) of the Trust<br \/>\nIndenture Act. Any certificate or opinion required to be given by an officer<br \/>\npursuant to Section 314(c)(1) may be given in the form of an Officer&#8217;s<br \/>\nCertificate.<\/p>\n<\/p>\n<p>SECTION 5.2. <u>Remedies Not Exclusive<\/u>. No remedy herein conferred upon<br \/>\nor reserved to the Beneficiaries is intended to be exclusive of any other<br \/>\navailable remedy or remedies, but, to the maximum extent permitted by law, each<br \/>\nand every such remedy shall be cumulative and shall be in addition to every<br \/>\nother remedy given under this Guarantee or now or hereafter existing at law or<br \/>\nin equity. No delay or omission to exercise any right or power accruing upon any<br \/>\ndefault, omission or failure of performance hereunder shall impair any such<br \/>\nright or power or shall be construed to be a waiver thereof, but any such right<br \/>\nor power may be exercised from time to time and as often as may be deemed<br \/>\nexpedient. In order to entitle the Beneficiaries to exercise any remedy reserved<br \/>\nto them in this Guarantee, to the maximum extent permitted by applicable law, it<br \/>\nshall not be necessary to give any notice. In the event any provision contained<br \/>\nin this Guarantee should be breached, and thereafter duly waived, such waiver<br \/>\nshall be limited to the particular breach so waived and shall not be deemed to<br \/>\nwaive any other breach hereunder. To the maximum extent permitted by applicable<br \/>\nlaw, no waiver, amendment, release or modification of this Guarantee shall be<br \/>\nestablished by conduct, custom or course of dealing, but solely by an instrument<br \/>\nin writing duly executed by the parties to this Guarantee.<\/p>\n<\/p>\n<p>SECTION 5.3. <u>Amendments; Entire Agreement; Counterparts; Successors and<br \/>\nAssigns<\/u>. Neither this Guarantee nor any of the terms hereof may be<br \/>\nterminated, amended, supplemented, waived or modified orally, but only by an<br \/>\ninstrument in writing signed by the party against which the enforcement of the<br \/>\ntermination, amendment, supplement, waiver or modification is sought. This<br \/>\nGuarantee constitutes the entire agreement, and supersedes all prior agreements<br \/>\nand understandings, both written and oral, between the parties with respect to<br \/>\nthe subject matter hereof and may be executed simultaneously in several<br \/>\ncounterparts, each of which shall be deemed an original, and all of which<br \/>\ntogether shall constitute one and the same instrument. To the maximum extent<br \/>\npermitted by applicable law, this Guarantee shall be binding upon the successors<br \/>\nand permitted assigns of the Guarantor and shall inure to the benefit of, and<br \/>\nshall be<\/p>\n<\/p>\n<p align=\"center\">7<\/p>\n<p align=\"center\">\n<hr>\n<p>enforceable by, each of the Beneficiaries and its respective successors and<br \/>\npermitted assigns.<\/p>\n<\/p>\n<p>SECTION 5.4. <u>No Implied Third Party Beneficiaries<\/u>. This Guarantee<br \/>\nshall not be deemed to create any right in any Person except a Beneficiary and<br \/>\nshall not be construed in any respect to be a contract in whole or in part for<br \/>\nthe benefit of any other Person.<\/p>\n<\/p>\n<p>SECTION 5.5. <u>Severability<\/u>. To the maximum extent permitted by<br \/>\napplicable law, any provision of this Guarantee which is prohibited or<br \/>\nunenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective<br \/>\nto the extent of such prohibition or unenforceability without invalidating the<br \/>\nremaining provisions hereof, and any such prohibition or unenforceability in any<br \/>\njurisdiction shall not invalidate or render unenforceable such provision in any<br \/>\nother jurisdiction.<\/p>\n<\/p>\n<p>SECTION 5.6. <u>Governing Law<\/u>. THIS GUARANTEE HAS BEEN DELIVERED IN THE<br \/>\nSTATE OF NEW YORK AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE<br \/>\nLAW OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY<br \/>\nAND PERFORMANCE. This Guarantee is subject to the Trust Indenture Act, and if<br \/>\nany provision hereof limits, qualifies or conflicts with a provision of the<br \/>\nTrust Indenture Act that is required by the Trust Indenture Act to be a part of<br \/>\nand govern this Guarantee, the latter provision shall control. If any provision<br \/>\nof this Guarantee modifies or excludes any provision of the Trust Indenture Act<br \/>\nthat may be so modified or excluded, the latter provision shall be deemed to<br \/>\napply to this Guarantee as so modified, or to be excluded, as the case may be,<br \/>\nwhether or not such provision of this Guarantee refers expressly to such<br \/>\nprovision of the Trust Indenture Act.<\/p>\n<\/p>\n<p align=\"center\"><em>[Remainder of page left intentionally blank.]<\/em><\/p>\n<p align=\"center\">\n<p align=\"center\">8<\/p>\n<p align=\"center\">\n<hr>\n<p>IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be executed in<br \/>\nits corporate name, as of the date first above written.<\/p>\n<\/p>\n<table style=\"width: 100%;\" width=\"100%\" cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"48%\"><\/td>\n<td width=\"1%\"><\/td>\n<td width=\"1%\"><\/td>\n<td width=\"35%\"><\/td>\n<td width=\"15%\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\"><\/td>\n<td colspan=\"3\">\n<p>AMR CORPORATION<\/p>\n<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td valign=\"top\">\n<p>By:<\/p>\n<\/td>\n<td colspan=\"2\">\n<p>\/s\/ Isabella D. Goren<\/p>\n<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td valign=\"top\">\n<p>Name:<\/p>\n<\/td>\n<td>\n<p>Isabella D. Goren<\/p>\n<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td valign=\"top\">\n<p>Title:<\/p>\n<\/td>\n<td>\n<p>Senior Vice President and <br \/>\nChief Financial Officer<\/p>\n<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\"><\/td>\n<td colspan=\"3\">\n<p>ACCEPTED:<\/p>\n<p>U.S. BANK TRUST NATIONAL <br \/>\nASSOCIATION, as Pass Through Trustee <br \/>\nunder the Class A Pass Through Trust <br \/>\nAgreement, as Subordination Agent, as <br \/>\nLoan Trustee and in its individual capacity <br \/>\nas set forth herein<\/p>\n<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td valign=\"top\">\n<p>By:<\/p>\n<\/td>\n<td colspan=\"2\">\n<p>\/s\/ Alison D.B. Nadeau<\/p>\n<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td valign=\"top\">\n<p>Name:<\/p>\n<\/td>\n<td>\n<p>Alison D.B. Nadeau<\/p>\n<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td valign=\"top\">\n<p>Title:<\/p>\n<\/td>\n<td>\n<p>Vice President<\/p>\n<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6693],"corporate_contracts_industries":[9521],"corporate_contracts_types":[9560,9565],"class_list":["post-41045","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-amr-corp","corporate_contracts_industries-transportation__air","corporate_contracts_types-finance","corporate_contracts_types-finance__guaranty"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/41045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=41045"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=41045"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=41045"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=41045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}