Item 1.01 Entry into a Material Definitive Agreement

On March 22, 2023, Contrail Aviation Support, LLC and Contrail Aviation Leasing, LLC (collectively "Contrail") entered into the First Amendment to Second Amendment to Master Loan Agreement and Third Amendment to Master Loan Agreement (the "Amendment") with Old National Bank ("ONB"). The Amendment amends the Master Loan Agreement dated as of June 24, 2019, as amended.

The principal revisions made in the Amendment are: (i) Section 3 of the Second Amendment was revised so that exclusion of certain gains and losses from the definition of "net income" applies through September 30, 2023, not March 31, 2023; (ii) Section 5 of the Second Amendment relating to prepayment of Term Loan G was amended to eliminate the requirement that all asset sales during the period beginning with October 1, 2022 and ending on March 31, 2023 be applied as prepayments on Term Loan G; instead, the Amendment provision now reflects the agreement that voluntary payments totaling $20,000,000 would be made by the borrower on Term Loan G no later than September 30, 2023; and, (iii) a revolving note resting period covenant was added to the Amendment whereby the outstanding principal balance on the revolving note would be paid to zero (0) for at least thirty (30) consecutive days during each annual period ending on the anniversary date of the revolving note, provided the borrower has not achieved a debt service coverage ratio of 1.10:1.

The foregoing summary of the terms of the Amendment is qualified in its entirety by reference to the form of First Amendment to Second Amendment to Master Loan Agreement and Third Amendment to Master Loan Agreement filed as Exhibit 10.1 herewith, which is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

To the extent required by Item 2.03 of Form 8-K, the information contained in Item 1.01 is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits

10.1 First Amendment to Second Amendment to Master Loan Agreement and Third Amendment to


           Master Loan Agreement, dated March 22, 2023 between Contrail Aviation Support, LLC and
           Contrail Aviation Leasing, LLC and Old National Bank.

104 Cover Page Interactive Data File (embedded within Inline XBRL document)

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