<PAGE> 1
EXHIBIT 4.15
UNITED AIR LINES, INC.
SERIES A-2 EQUIPMENT NOTE DUE APRIL 1, 2011 ISSUED IN CONNECTION
WITH THE BOEING MODEL 747-422 AIRCRAFT BEARING UNITED STATES
REGISTRATION NUMBER N119UA
No. 2000-2 747-1-A-2 Date: December 14, 2000
Original Principal Amount Maturity Date
------------------------- -------------
$44,567,000 April 1, 2011
Debt Rate
7.186%
UNITED AIR LINES, INC., a Delaware corporation ("Owner") for
value received, hereby promises to pay to STATE STREET BANK AND TRUST COMPANY OF
CONNECTICUT, NATIONAL ASSOCIATION, as the Subordination Agent under the
Intercreditor Agreement, or registered assigns, the principal sum of Forty-Four
Million Five Hundred Sixty-Seven Thousand Dollars ($44,567,000) in one
installment on April 1, 2011, together with interest on the unpaid principal
amount hereof from time to time outstanding from and including the date hereof
until such principal amount is paid in full. Interest shall accrue at the Debt
Rate (calculated on the basis of a year of 360 days and 12 thirty day months)
payable in arrears on each Interest Payment Date and on the date this Equipment
Note is paid in full. Notwithstanding the foregoing, the final payment made on
this Equipment Note shall be in an amount sufficient to discharge in full the
unpaid principal amount and all accrued and unpaid interest on, and any other
amounts due under, this Equipment Note. Notwithstanding anything to the contrary
contained herein, if any date on which a payment under this Equipment Note
becomes due and payable is not a Business Day, then such payment shall not be
made on such scheduled date but shall be made on the next succeeding Business
Day and if such payment is made on such next succeeding Business Day no
additional interest shall accrue on the amount of such payment during such
extension.
For purposes hereof, the term "Indenture" means the Trust
Indenture and Mortgage (2000-2 747-1) dated as of December 14, 2000, between the
Owner and State Street Bank and Trust Company of Connecticut, National
Association (the "Indenture Trustee"), as the same may be amended or
supplemented from time to time. All other capitalized terms used in this
Equipment Note and not defined herein shall have the respective meanings
assigned in the Indenture.
This Equipment Note shall bear interest, payable on demand, at
the Past Due Rate (calculated on the basis of a year of 360 days and 12 thirty
day months) on any overdue principal amount, Make-Whole Amount, if any, and (to
the extent permitted by applicable law) any overdue
<PAGE> 2
interest and any other amounts payable hereunder which are overdue, in each case
for the period the same is overdue. Amounts shall be overdue if not paid when
due (whether at stated maturity, by acceleration or otherwise).
This Equipment Note shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose unless this Equipment
Note has been executed on behalf of the Owner by the manual or facsimile
signature of an authorized officer of the Owner, and authenticated by the
Indenture Trustee by the manual signature of an authorized officer or signatory
of the Indenture Trustee, in each case as specified in Section 2.02 of the
Indenture.
This Equipment Note is one of the Equipment Notes referred to
in the Indenture which have been or are to be issued by the Owner pursuant to
the terms of the Indenture. Reference is made to the Indenture and all
supplements and amendments thereto (a copy of which is on file with the
Indenture Trustee at its Corporate Trust Department) for a more complete
statement of the terms and provisions thereof, including a statement of the
properties thereby conveyed, pledged and assigned, the nature and extent of the
security, the respective rights thereunder of the Owner, the Indenture Trustee
and the Noteholders of the Equipment Notes, and the terms upon which the
Equipment Notes are, and are to be, executed and delivered, as well as for a
statement of the terms and conditions of the trust created by the Indenture, to
all of which terms and conditions in the Indenture each Noteholder hereof agrees
by its acceptance of this Equipment Note.
This Equipment Note is subject to redemption, refinancing,
purchase or prepayment as provided in Article 6 of the Indenture but not
otherwise.
If an Indenture Event of Default shall occur and be
continuing, the principal amount remaining unpaid of the Equipment Notes may be
declared due and payable together with accrued interest thereon in the manner
and with the effect provided in the Indenture.
As provided in the Indenture, in certain circumstances this
Equipment Note is transferable, and upon surrender of this Equipment Note for
registration of transfer at the principal corporate trust office of the
Registrar, or at the office or agency maintained for such purpose, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to
the Registrar duly executed by, the Noteholder or his attorney duly authorized
in writing, one or more new Equipment Notes of the same maturity and type and of
authorized denominations and for the same aggregate principal amount will be
issued to the designated transferee or transferees.
The Equipment Notes are issuable only as registered Equipment
Notes. As provided in the Indenture and subject to certain limitations therein
set forth, Equipment Notes are exchangeable for a like aggregate principal
amount of Equipment Notes of the same series, maturity and type and of
authorized denominations, as requested by the Noteholder surrendering the same,
upon presentation thereof for such purpose at the principal corporate trust
office of the Registrar, or at an office or agency maintained for such purpose.
No service charge shall be made for any such registration of
transfer or exchange, but the Registrar may require payment of a sum sufficient
to cover any tax or other governmental charge
<PAGE> 3
payable in connection therewith. Prior to due presentment for registration of
transfer or exchange of this Equipment Note, the Owner, the Indenture Trustee,
the Paying Agent and the Registrar may deem and treat the person in whose name
this Equipment Note is registered as the absolute owner hereof for the purpose
of receiving payment of the principal of and interest on this Equipment Note and
for all other purposes whatsoever whether or not this Equipment Note be overdue,
and neither the Owner, the Indenture Trustee, the Paying Agent nor the Registrar
shall be affected by notice to the contrary.
The Noteholder of this Equipment Note, by accepting the same, (a)
agrees to and shall be bound by each provision applicable to it in the
Indenture, the Note Purchase Agreement, the Participation Agreement and each
other Operative Document, (b) authorizes and directs the Indenture Trustee on
his behalf to take such action as may be necessary or appropriate to effectuate
the subordination as provided in the Indenture and (c) appoints the Indenture
Trustee his attorney-in-fact for such purpose.
AS PROVIDED IN THE INDENTURE, THE INDENTURE AND THIS EQUIPMENT
NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE
OF ILLINOIS WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PROVISIONS OF THE
STATE OF ILLINOIS.
* * *
<PAGE> 4
IN WITNESS WHEREOF, the Owner has caused this Equipment Note
to be duly executed.
UNITED AIR LINES, INC.
By: /s/ JEFFREY T. KAWALSKY
------------------------------------
Title: Assistant Treasurer
---------------------------
<PAGE> 5
INDENTURE TRUSTEE'S CERTIFICATE OF AUTHENTICATION
This is one of the Equipment Notes referred to in the within-mentioned
Indenture.
STATE STREET BANK AND TRUST
COMPANY OF CONNECTICUT,
NATIONAL ASSOCIATION,
as Indenture Trustee
By: /s/ RUTH A. SMITH
--------------------------------
Authorized officer and signatory
<PAGE> 6
SCHEDULE A-2
<TABLE>
<CAPTION>
AIRCRAFT
REGISTRATION
AIRCRAFT TYPE NUMBER PRINCIPAL AMOUNT MATURITY
------------- ------------ ---------------- ----------
<S> <C> <C> <C>
A319-131 N809UA $ 9,786,000 01-Apr-11
A319-131 N810UA 9,797,000 01-Apr-11
A319-131 N811UA 9,797,000 01-Apr-11
A319-131 N812UA 9,797,000 01-Apr-11
A319-131 N813UA 9,848,000 01-Apr-11
A319-131 N814UA 9,848,000 01-Apr-11
A319-131 N815UA 9,848,000 01-Apr-11
A319-131 N816UA 9,858,000 01-Apr-11
A319-131 N817UA 9,858,000 01-Apr-11
A319-131 N818UA 9,868,000 01-Apr-11
A319-131 N828UA 10,489,000 01-Apr-11
A319-131 N829UA 11,148,000 01-Apr-11
A320-232 N437UA 11,027,000 01-Apr-11
A320-232 N438UA 11,062,000 01-Apr-11
A320-232 N439UA 11,072,000 01-Apr-11
A320-232 N440AU 11,087,000 01-Apr-11
A320-232 N447UA 11,750,000 01-Apr-11
A320-232 N450UA 11,750,000 01-Apr-11
B747-422 N119UA 44,567,000 01-Apr-11
B747-422 N120UA 44,639,000 01-Apr-11
B747-422 N121UA 44,640,000 01-Apr-11
B757-222 N591UA 13,500,000 01-Apr-11
B757-222 N592UA 13,520,000 01-Apr-11
B757-222 N593UA 13,535,000 01-Apr-11
B757-222 N594UA 13,555,000 01-Apr-11
B757-222 N589UA 14,886,000 01-Apr-11
B757-222 N590UA 14,906,000 01-Apr-11
B757-222 N595UA 15,608,000 01-Apr-11
B777-200ER N784UA 34,146,000 01-Apr-11
B777-200ER N785UA 34,224,000 01-Apr-11
B777-200ER N787UA 32,972,000 01-Apr-11
B777-200ER N789UA 34,504,000 01-Apr-11
B777-200ER N790UA 34,504,000 01-Apr-11
B777-200ER N791UA 34,504,000 01-Apr-11
B777-200ER N793UA 34,600,000 01-Apr-11
B777-200ER N797UA 36,135,000 01-Apr-11
B777-200ER N798UA 36,135,000 01-Apr-11
</TABLE>
<PAGE> 7
SCHEDULE B
<TABLE> AIRCRAFT
<CAPTION> REGISTRATION
AIRCRAFT TYPE NUMBER PRINCIPAL AMOUNT MATURITY
------------- ------------- ---------------- ----------
<S> <C> <C> <C>
A319-131 N809UA $ 3,551,000 01-Oct-09
A319-131 N810UA 3,555,000 01-Oct-09
A319-131 N811UA 3,714,000 01-Oct-09
A319-131 N812UA 3,714,000 01-Oct-09
A319-131 N813UA 3,734,000 01-Oct-09
A319-131 N814UA 3,734,000 01-Oct-09
A319-131 N815UA 3,734,000 01-Oct-09
A319-131 N816UA 3,737,000 01-Oct-09
A319-131 N817UA 3,737,000 01-Oct-09
A319-131 N818UA 3,741,000 01-Oct-09
A319-131 N828UA 3,799,000 01-Oct-09
A319-131 N829UA 4,030,000 01-Oct-09
A320-232 N437UA 4,010,000 01-Oct-09
A320-232 N438UA 4,023,000 01-Oct-09
A320-232 N439UA 4,027,000 01-Oct-09
A320-232 N440UA 4,221,000 01-Oct-09
A320-232 N447UA 4,455,000 01-Oct-09
A320-232 N450UA 4,455,000 01-Oct-09
B747-422 N119UA 16,141,000 01-Oct-09
B747-422 N120UA 16,168,000 01-Oct-09
B747-422 N121UA 16,168,000 01-Oct-09
B757-222 N591UA 4,922,000 01-Oct-09
B757-222 N592UA 5,172,000 01-Oct-09
B757-222 N593UA 5,177,000 01-Oct-09
B757-222 N594UA 5,185,000 01-Oct-09
B757-222 N589UA 5,668,000 01-Oct-09
B757-222 N590UA 5,675,000 01-Oct-09
B757-222 N595UA 5,664,000 01-Oct-09
B777-200ER N784UA 12,419,000 01-Oct-09
B777-200ER N785UA 12,447,000 01-Oct-09
B777-200ER N787UA 11,992,000 01-Oct-09
B777-200ER N789UA 13,138,000 01-Oct-09
B777-200ER N790UA 13,138,000 01-Oct-09
B777-200ER N791UA 13,138,000 01-Oct-09
B777-200ER N793UA 13,174,000 01-Oct-09
B777-200ER N797UA 13,114,000 01-Oct-09
B777-200ER N798UA 13,114,000 01-Oct-09
</TABLE>
<PAGE> 8
SCHEDULE C
<TABLE>
<CAPTION>
AIRCRAFT
REGISTRATION
AIRCRAFT TYPE NUMBER PRINCIPAL AMOUNT MATURITY
------------- ------------ ---------------- -----------
<S> <C> <C> <C>
A319-131 N809UA $ 1,983,000 01-Oct-05
A319-131 N810UA 1,985,000 01-Oct-05
A319-131 N811UA 2,037,000 01-Oct-05
A319-131 N812UA 2,037,000 01-Oct-05
A319-131 N813UA 2,047,000 01-Oct-05
A319-131 N814UA 2,047,000 01-Oct-05
A319-131 N815UA 2,047,000 01-Oct-05
A319-131 N816UA 2,049,000 01-Oct-05
A319-131 N817UA 2,049,000 01-Oct-05
A319-131 N818UA 2,051,000 01-Oct-05
A319-131 N828UA 2,082,000 01-Oct-05
A319-131 N829UA 2,172,000 01-Oct-05
A320-232 N437UA 2,284,000 01-Oct-05
A320-232 N438UA 2,291,000 01-Oct-05
A320-232 N439UA 2,293,000 01-Oct-05
A320-232 N440UA 2,357,000 01-Oct-05
A320-232 N447UA 2,442,000 01-Oct-05
A320-232 N450UA 2,442,000 01-Oct-05
B747-422 N119UA 8,847,000 01-Oct-05
B747-422 N120UA 8,861,000 01-Oct-05
B747-422 N121UA 8,861,000 01-Oct-05
B757-222 N591UA 2,862,000 01-Oct-05
B757-222 N592UA 2,944,000 01-Oct-05
B757-222 N593UA 2,948,000 01-Oct-05
B757-222 N594UA 2,952,000 01-Oct-05
B757-222 N589UA 3,163,000 01-Oct-05
B757-222 N590UA 3,168,000 01-Oct-05
B757-222 N595UA 3,162,000 01-Oct-05
B777-220ER N784UA 7,070,000 01-Oct-05
B777-220ER N785UA 7,087,000 01-Oct-05
B777-220ER N787UA 6,827,000 01-Oct-05
B777-220ER N789UA 7,333,000 01-Oct-05
B777-220ER N790UA 7,333,000 01-Oct-05
B777-220ER N791UA 7,333,000 01-Oct-05
B777-220ER N793UA 7,353,000 01-Oct-05
B777-220ER N797UA 7,320,000 01-Oct-05
B777-220ER N798UA 7,320,000 01-Oct-05
</TABLE>
