LABRADOR AVIATION FINANCE REPORTS

The Managing Agent, acting on behalf of the Security Trustee, shall direct the Operating Bank (which may be the Trustee or the Security Trustee or as otherwise set forth below) in writing to establish and maintain on its books and records in the name of the Security Trustee (or in the name of the relevant Issuer Group Member but under the control of the Security Trustee) all of the following accounts: (i) a collections account relating to the Labrador Ireland Companies (the "Ireland Collections Account") and a collections account relating to the Labrador USA Companies (the "USA Collections Account" and, collectively, the "Collections Accounts"), (ii) one or more rental accounts, if required (each, a "Rental Account"), (iii) an aircraft acquisition account (the "Aircraft Acquisition Account"), (iv) a liquidity reserve account for the Notes (the "Liquidity Facility Reserve Account"), (v) a payment account for the Liquidity Facility (the "Liquidity Payment Account"), (vi) a maintenance..