INDEX GUARANTY This Guaranty (this "Guaranty") is executed and delivered as of the date set forth below by the undersigned guarantor (the "Guarantor") in favor of BANC OF AMERICA LEASING & CAPITAL, LLC, located at One Financial Plaza, Fifth Floor, Providence, RI 02903-2305 ("BALC"). RANCE ACQUISITION, LLC, acting as an exchange accommodation titleholder (hereinafter referred to as the "EAT") located at Nine Damonmill Square, Suite 3A2, Concord, MA 01742-2894. WELLS FARGO BANK NORTHWEST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Owner Trustee ("Owner Trustee"), located at 299 South Main Street, Salt Lake City, Utah 84111, and AVIONEJA HOLDINGS LLC, a Delaware limited liability company, located at Go Apollo Management, L.P., 9 W. 57 Street, 43 Floor, New York, New York 10019 (Ayioneta" and together with Owner Trustee and EAT, collectively, the "Customer) have requested that BALC enter into that certain Aircraft Loan and Security Agreement (S/N 681) dated as of August 31, 2011 (as amended, supplemented or restated from time to time, and together with any and all other documents, instruments, certificates and other agreements relating thereto or entered into in connection therewith, the "Agreement), between BALC and Customer, and this Guaranty is a condition to BALC's entering into the Agreement. The term "Customer," if defined to include more than one party, shall mean "Customer and each of them" and this Guaranty shall secure payment of all of their respective Obligations (hereinafter defined) to BALC. BALC is unwilling to enter the Agreement with Customer, unless Guarantor absolutely and unconditionally guarantees to BALC the payment and performance of all such Obligations of Customer at any time owing to BALC. With knowledge that BALC will enter into the Agreement with or otherwise extend financial accommodations to Customer in reliance upon the existence of this Guaranty and the validity and enforceability of the obligati