ASSIGNMENT AND ASSUMPTION

SAN JOSE PURCHASE AGREEMENT

THIS ASSIGNMENT AND ASSUMPTION OF SAN JOSE PURCHASE AGREEMENT (this “Assignment”) is entered into as of this 12^th day of June, 2007, but shall only be effective as set forth below, between MAC Acquisitions LLC, a Delaware limited liability company (“Assignor”), and Macquarie FBO Holdings LLC, a Delaware limited liability company (“Assignee”).

WHEREAS, Assignor, Assignee, Allied Capital Corporation, Directional Aviation Group, LLC, Kenneth C. Ricci, David Moore and Allied Capital Corporation, as Seller Representative, entered into that certain Stock Purchase Agreement dated April 16, 2007, as amended on the date hereof (the “MAC/Macquarie SPA”);

WHEREAS, Assignor, San Jose Jet Center, Inc., a California corporation, ACM Aviation Inc., a California corporation, certain of the stockholders of ACM Aviation, Inc. and San Jose Jet Center, Inc., SJJC Aviation Services, LLC, a Delaware limited liability company, SJJC FBO Services, LLC, a Delaware limited liability company, SJJC Airline Services, LLC, a Delaware limited liability company, Jet Center Property Services, LLC, a Delaware limited liability company, ACM Property Services, LLC, a Delaware limited liability company, and ACM Aviation, LLC, a Delaware limited liability company (collectively, the “Selling Group”) entered into a Purchase Agreement dated as of the date hereof (the “San Jose Purchase Agreement”); and

WHEREAS, the parties hereto agreed to enter into this Assignment pursuant to Section 9.1 of the MAC/Macquarie SPA to assign Assignor’s rights and obligations under the San Jose Purchase Agreement to Assignee pursuant to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the terms and conditions herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

1. Assignment of Rights. Subject only to Section 4, Assignor hereby irrevocably assigns, transfers and sets over to Assignee and its permitted successors and assigns, all of Assignor’s right, title and interest and delegates all of Assignor’s duties, obligations and liabilities, in, to and under the San Jose Purchase Agreement.

2. Assumption of Obligations. Subject only to Section 4, Assignee hereby accepts the assignment of all of Assignor’s right, title and interest in, to and under the San Jose Purchase Agreement hereby assigned to it, and expressly assumes and agrees: (a) to be bound by and to abide by all of the terms and conditions of the San Jose Purchase Agreement applicable to Assignor; and (b) to pay, perform and discharge, in due course, and satisfy faithfully as the same shall become due for payment, performance or discharge, all of the liabilities and obligations of Assignor regarding the San Jose Purchase Agreement.

3. Payment of Contingent Consideration. On the Effective Date (as defined below), Assignee will pay to Assignor the Contingent Consideration (as defined in Section 1.11(a) of the MAC/Macquarie SPA) upon the consummation of the transactions contemplated by the San Jose Purchase Agreement pursuant to the terms and conditions set forth in Section 1.11(b) of the MAC/Macquarie SPA, such payment to be made absolutely and without setoff, counterclaim, reduction or condition, including any claim or demand relating to the MAC/Macquarie SPA or the transactions contemplated thereby.

4. Effective Date. The foregoing assignment and assumption of rights and obligations under the San Jose Purchase Agreement is in full force as of the date hereof and shall become effective automatically and without any further action by any of the parties hereto or their affiliates or permitted successors or assigns, on the date (the “Effective Date”) that is the earlier to occur of the following: (a) the MAC/Macquarie SPA is terminated; or (b) November 1, 2007.

5. Successors and Assigns. All of the terms and provisions of this Assignment shall be binding upon, and shall inure to the benefit of, Assignor and Assignee and their respective, permitted successors and assigns. Assignee shall not be permitted to assign any of its rights and obligations hereunder or under the San Jose Purchase Agreement to any other party without obtaining the prior written consent of the representative for the San Jose Sellers identified in Section 1.10 of the San Jose Purchase Agreement (the “San Jose Seller Representative”); provided, however, that Assignee shall be permitted to freely assign any of its rights and obligations hereunder or under the San Jose Purchase Agreement to one or more of its affiliates (a “Permitted Assignee”) but any such assignment shall not relieve Assignee of any of its rights or obligations under this Assignment or the San Jose Purchase Agreement.

6. No Effect on Purchase Agreement. Nothing contained in this Assignment shall supersede, modify, limit, eliminate or otherwise affect any of the representations and warranties, covenants, agreements or indemnities set forth in the MAC/Macquarie SPA. This Assignment is entered into and delivered pursuant to Section 9.1 of the MAC/Macquarie SPA, and nothing herein shall be construed to modify, terminate or merge any rights any party thereto may have pursuant to the terms thereof. In the event of any inconsistency or conflict between the terms of the MAC/Macquarie SPA and the terms of this Assignment, the terms of the MAC/Macquarie SPA shall prevail.

7. Acknowledgments by Assignee. Assignee hereby acknowledges and agrees that: (a) none of Assignor, its affiliates or Allied Capital Corporation in its capacity as Seller Representative under the MAC/Macquarie SPA (the “Seller Representative”) has made, or is making hereby, any representations, warranties or covenants regarding the transactions contemplated by the San Jose Purchase Agreement, the assets owned by the San Jose Sellers, the due diligence materials regarding the San Jose Sellers and their assets provided to Assignee by the Seller Representative or the ability to consummate the transactions contemplated by the San Jose Purchase Agreement; (b) it shall be solely responsible for performing its own investigation and due diligence review of the San Jose Sellers, the assets owned by the San Jose Sellers and the transactions contemplated by the San Jose Purchase Agreement; (c) the Seller Representative has not made, and is not making hereby, any statements, certifications, representations or warranties, express or implied, regarding the truth, accuracy or completeness of the due diligence materials regarding the San Jose Sellers and their assets provided by it to Assignee; and (d) none of the Sellers, the Company or the Seller Representative has or shall have any liability to Assignee for any reason regarding, directly or indirectly, the transactions contemplated by the San Jose Purchase Agreement, the assets owned by the San Jose Sellers, the due diligence materials regarding the San Jose Sellers and their assets provided to Assignee by the Seller Representative, the negotiations conducted by the Seller Representative regarding the transactions contemplated by the San Jose Purchase Agreement or the ability to consummate the transactions contemplated by the San Jose Purchase Agreement. If there is any default or breach by the San Jose Sellers under the San Jose Purchase Agreement or the transactions contemplated by the San Jose Purchase Agreement are not consummated for any reason, Assignee acknowledges and agrees that its sole recourse, if any, will be to pursue any rights and remedies available to it against the San Jose Sellers or their affiliates under the San Jose Purchase Agreement.

8. General Release and Indemnity by Assignee.

Assignee, on behalf of itself and all of its affiliates, subsidiaries, directors, officers, employees, successors and assigns (collectively, the “Releasing Parties”), hereby absolutely and forever releases, waives, acquits, satisfies and discharges the Seller Representative, Assignor, Allied Capital Corporation and each and any of their affiliates, subsidiaries, stockholders, directors, officers, employees, heirs, devisees, legatees, executors, administrators, personal and legal representatives, assigns and successors in interest, (collectively, the “Released Parties”) of and from any and all past, present or future claims, demands, rights, causes of action, judgments, executions, damages, liabilities, costs and expenses (including attorney’s fees and court costs), of every kind and nature whatsoever, now known or unknown, suspected or unsuspected, in law or in equity (collectively, “Claims”), which the Releasing Parties own or hold, or at any time heretofore has ever had, owned or held, or may hereafter have, own or hold, based upon, related to or arising out of, directly or indirectly, the transactions contemplated by the San Jose Purchase Agreement, the assets owned by the San Jose Sellers, the due diligence materials regarding the San Jose Sellers and their assets provided to Assignee by the Seller Representative, the negotiations conducted by the Seller Representative regarding the transactions contemplated by the San Jose Purchase Agreement or the ability to consummate the transactions contemplated by the San Jose Purchase Agreement. Assignee further covenants and agrees that none of the Releasing Parties shall ever institute or participate in any suit or action, at law or in equity, against the Released Parties or any of them, by reason of, or based upon, any Claim released pursuant to this Section 8. Assignee hereby agrees to indemnify and hold harmless the Released Parties from any suit or action, at law or in equity, against the Released Parties or any of them, by reason of, or based upon, any Claim released pursuant to this Section 8.

9. Governing Law. This Assignment shall be governed by and construed in accordance with the domestic laws of the State of Delaware, without giving effect to any choice of law or conflict provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the laws of any jurisdiction other than the State of Delaware to be applied. In furtherance of the foregoing, the internal law of the State of Delaware shall control the interpretation and construction of this Assignment, even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply. Any controversy or claim arising under this Assignment shall be subject to the exclusive jurisdiction of the Court of Chancery of the State of Delaware and each party hereto submits to the jurisdiction of such court for purposes of resolving any such controversy.

10. Counterparts. The parties hereto may execute this Assignment by facsimile transmission in counterparts (neither of which need contain the signatures of both of the parties hereto), each of which shall be an original and all of which together shall constitute one and the same instrument.

11. Further Assurances. Assignor and Assignee hereby agree to execute, acknowledge and deliver such other documents and instruments and take such other actions as either party, or counsel to either party, may reasonably request to complete and perfect the assignment and assumption contemplated herein.

12. Third-Party Beneficiaries. Each legal entity comprising the Selling Group is an express third-party beneficiary of this Agreement.

[Signatures appear on next page]

IN WITNESS WHEREOF, the parties hereto have executed this Assignment and Assumption of San Jose Purchase Agreement on the date first above written.

WITNESS:	MAC ACQUISITIONS LLC

	By:	/s/ Mark Raterman
	Name:	Mark Raterman
	Title:	Director

	MACQUARIE FBO HOLDINGS LLC

	By: Macquarie Infrastructure Company Inc. d/b/a Macquarie Infrastructure Company (US), as Managing Member
Emmanuel Yapo
/s/ Emmanuel Yapo	By:	/s/ Peter Stokes
	Name:	Peter Stokes
	Title:	CEO

June 12, 2007

Macquarie Infrastructure Company Inc.

125 West 55^th Street

New York, NY 10019

Attention: Peter Stokes

Re:

Macquarie Infrastructure Company’s acquisition of Mercury Air Centers, Inc.

Amended and Restated Commitment Letter

Ladies and Gentlemen:

You have advised The Governor and Company of the Bank of Ireland (“BOI”) and Bayerische Landesbank (“BayernLB”, and together with BOI, the “Lead Arrangers”) that your subsidiary, Macquarie FBO Holdings LLC, a Delaware corporation (“MFBO”), intends to enter into a Stock Purchase Agreement with Mercury Air Centers, Inc. (“Mercury” or “Borrower”) and its stockholders pursuant to which, among other things, MFBO will acquire all of the common equity interests in Mercury (the “Acquisition”) and will execute an option (the “Call Option”) to subsequently acquire all of the preferred equity interest in Mercury. The sum of the purchase price for the Acquisition (excluding any contingent consideration related to the right of Mercury or MFBO to acquire (the "San Jose Acquisition") the membership interests in SJJC Aviation Services, LLC (“San Jose FBO”)) and the exercise price of the Call Option is $427 million, less the aggregate amount of indebtedness of Mercury that will be outstanding at financial close (approximately $100 million), subject to changes based on working capital and capital expenditure invested prior to financial close. The purchase price for both the Acquisition and the Call Option shall be financed directly by cash provided by MFBO.

You have also advised the Lead Arrangers that immediately subsequent to the Acquisition, you intend to refinance the existing indebtedness of the Borrower with a term loan facility of up to $192 million (the “Senior Term Loan Facility”). 100% of the net proceeds of the Senior Term Loan Facility will be drawn in a one-time borrowing and the proceeds shall be used to repay the existing indebtedness of the Borrower, pay related costs of the refinancing and make a one-time distribution to the preferred and ordinary shareholders of the Borrower. The net amount of contributed equity capital by MFBO to the Borrower immediately following the Acquisition and subsequent refinancing, and after the one-time distribution to the common and preferred shareholders of the Borrower shall not be less than $230.0 million. In addition, the Borrower will execute a $12.5 million working capital facility for undertaking specific capital expenditure projects and the issuance of letters of credit (the “Working Capital Facility” and together with the Senior Term Loan Facility, the “Senior Credit Facilities”). The Acquisition, financing thereof (including the subsequent refinance) and all related transactions are hereinafter collectively referred to as the “Transaction.”

In connection with the foregoing, each Lead Arranger is pleased to advise you of its commitment to provide up to 50% of the Senior Credit Facilities. BLB also agrees to act as the sole and exclusive Administrative Agent for the Senior Credit Facilities, all upon and subject to the terms and conditions set forth in this amended and restated letter agreement and in the amended and restated Loan Facilities Term Sheet attached as Exhibit A hereto and incorporated herein by this reference (the “Term Sheet” and, together with this letter agreement, this “Commitment Letter”). Each of the Lead Arrangers is further pleased to advise you of its willingness, as a lead arranger for the Senior Credit Facilities, to form a syndicate of financial institutions and institutional lenders (including the Lead Arrangers) (collectively, the “Lenders”) in consultation with you and with your prior written consent (not to be unreasonably withheld) for the Senior Credit Facilities. All capitalized terms used and not otherwise defined herein shall have the same meanings as specified therefor in the Term Sheet.

The commitment of each Lead Arranger hereunder and the undertaking of each Lead Arranger to provide the services described herein are subject to (i) the satisfaction of each of the conditions precedent specified in the Term Sheet in a manner acceptable to such Lead Arranger, and (ii) the negotiation, execution and delivery of definitive documentation (the “Credit Documentation”) for the Senior Credit Facilities consistent with the Term Sheet and otherwise satisfactory to such Lead Arranger.

The Lead Arrangers intend to commence syndication of the Senior Credit Facilities promptly upon execution of the Stock Purchase Agreement. You agree to actively assist, and following the close of the Acquisition, to cause the Borrower to actively assist, the Lead Arrangers in achieving a syndication of the Senior Credit Facilities that is satisfactory to the Lead Arrangers and you. Such assistance shall include (a) your providing and causing your advisors to provide the Lead Arrangers and the other Lenders upon request with all information reasonably deemed necessary by the Lead Arrangers to complete syndication, including, but not limited to, information and evaluations prepared by you, your affiliates and your advisors, or on your behalf, relating to the Transaction, (b) your assistance in the preparation of an Information Memorandum to be used in connection with the syndication of the Senior Credit Facilities, (c) using your commercially reasonable efforts to ensure that the syndication efforts of the Lead Arrangers benefit materially from your existing lending relationships and the existing banking relationships of Atlantic Aviation FBO Inc, and (d) otherwise assisting the Lead Arrangers in their syndication efforts, including by making your officers and advisors and the officers and advisors of Atlantic Aviation FBO Inc and, following the closing of the Acquisition, the Borrower, available from time to time to attend and make presentations regarding the business and prospects of the Borrower at one or more meetings of prospective Lenders.

It is understood and agreed that the Lead Arrangers will manage and control all aspects of the syndication in consultation with you, including decisions as to the selection of prospective Lenders (with your consent, not to be unreasonably withheld or delayed) and any titles offered to proposed Lenders, when commitments will be accepted and the final allocations of the commitments among the Lenders. It is understood that no Lender participating in the Senior Credit Facilities will receive compensation from you in order to obtain its commitment, except on the terms contained herein in the Term Sheet.

You agree that until the earlier of (a) the date on which general syndication of the Senior Credit Facilities has been completed and each Lead Arranger has reduced its commitment under the Senior Credit Facilities to a maximum final hold of $50 million (“Successful Syndication”) and (b) the date that is 90 calendar days after the launch of syndication (to be commenced no later than August 15, 2007), unless otherwise agreed to by the Lead Arrangers, there shall be no competing issues of debt securities by, or commercial bank facilities to, you, or any of your or its respective subsidiaries or affiliates for the purpose of acquiring fixed based operations (it being understood that competing issues would not include debt securities or commercial bank facilities currently outstanding). The foregoing sentence shall not limit the ability of you or any affiliate to restructure or amend any outstanding debt facility (provided that such restructuring, consent or amendment does not increase the aggregate amount of loans or commitments thereunder), or to refinance the Senior Credit Facilities in conjunction with a refinance of the existing senior debt facilities of Atlantic Aviation FBO Inc.

At any time after 45 days after the launch of syndication of the Senior Credit Facilities, the Lead Arrangers shall be entitled (unless Successful Syndication has been achieved within such 45-day period), after consultation with you, to increase the Underwriting Fee payable in respect of the Senior Credit Facilities by fifteen (15) basis points if the Lead Arrangers determine in their sole discretion that such changes are advisable in order to enhance the prospects of a Successful Syndication; provided, however, that the Lead Arrangers shall not exercise market flex with respect to the Underwriting Fee unless the Lead Arrangers would be required to pay to potential lenders upfront participation fees aggregating an amount that is in excess of 75 basis points in order to achieve Successful Syndication. You agree to enter into, and to cause your affiliates to enter into, such amendments to the Credit Documentation as may be necessary or reasonably requested by the Lead Arrangers to reflect such change to the Senior Credit Facilities made in furtherance of the immediately preceding sentence.

You hereby represent, warrant and covenant that (a) all information, other than Projections (as defined below), which has been or is hereafter made available to the Lead Arrangers or the Lenders by you or any of your representatives (or on your or their behalf) or by the Borrower or any of its or your subsidiaries or representatives (or on their behalf) in connection with any aspect of the Transaction (the “Information”) is and will be complete and correct in all material respects and does not and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein not misleading in light of the circumstances under which they were made and (b) all financial projections concerning the Borrower that have been or are hereafter made available to the Lead Arrangers or the Lenders by you or any of your representatives (or on your or their behalf) or by the Borrower or any of its subsidiaries or representatives (or on their behalf) (the “Projections”) have been or will be prepared in good faith based upon reasonable assumptions (it is understood and acknowledged, however, that such Projections are based upon a number of estimates and assumptions and are subject to significant business, economic and competitive uncertainties and contingencies and that, accordingly, no assurances are given and no representations, warranties or covenants are made that any of the assumptions are correct, that such Projections will be achieved or that the forward-looking statements expressed in such Projections will correspond to actual results). You agree to furnish us with such Information and Projections as we may reasonably request and to supplement the Information and the Projections from time to time until the date of the initial borrowing under the Senior Credit Facilities (the “Closing Date”) so that the representations, warranties and covenants in the immediately preceding sentence are correct on the Closing Date. In issuing this commitment and in arranging and syndicating the Senior Credit Facilities, the Lead Arrangers are and will be using and relying on the Information.

You agree to indemnify and hold harmless each Lead Arranger, each Lender and each of its affiliates and their respective officers, directors, employees, agents, advisors and other representatives (each an “Indemnified Party”) from and against (and will reimburse each Indemnified Party as the same are incurred for) any and all third-party claims, damages, losses, liabilities and expenses (including, without limitation, the reasonable fees, disbursements and other charges of counsel) that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of (including, without limitation, in connection with any investigation, litigation or proceeding or preparation of a defense in connection therewith) (a) any aspect of the Transaction and any of the other transactions contemplated thereby, including the San Jose Acquisition, and (b) the Senior Credit Facilities and any other financings, or any use made or proposed to be made with the proceeds thereof, except to the extent such claim, damage, loss, liability or expense is found in a final, nonappealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence or willful misconduct, nor shall you be liable to any Indemnified Party hereunder for any special, indirect, consequential or punitive, damages or loss of profit incurred by such Indemnified Party. You also agree that no Indemnified Party shall have any liability (whether direct or indirect, in contract or tort or otherwise) to you or your subsidiaries or affiliates or to your or their respective equity holders or creditors arising out of, related to or in connection with any aspect of the Transaction, except to the extent of direct, as opposed to special, indirect, consequential or punitive, damages determined in a final non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence or willful misconduct. It is further agreed that each Lead Arranger shall only have liability to you (as opposed to any other person), that each Lead Arranger shall be liable solely in respect of its own commitments to the Senior Credit Facilities on a several, and not joint, basis with any other Lender and that such liability shall only arise to the extent damages have been caused by a breach of such Lead Arranger's obligations hereunder to negotiate in good faith definitive Credit Documentation consistent with the Term Sheet and otherwise satisfactory to such Lead Arranger, and, upon the successful conclusion of such negotiations, enter into such documentation, for the Senior Credit Facilities on the terms set forth herein as determined in a final non-appealable judgment by a court of competent jurisdiction. In the event that any claim or demand by a third party for which you may be required to indemnify an Indemnified Party hereunder (a “Claim”) is asserted against or sought to be collected from any Indemnified Party by a third party, such Indemnified Party shall as promptly as practicable notify you in writing of such Claim, and such notice shall specify (to the extent known) in reasonable detail the amount of such Claim and any relevant facts and circumstances relating thereto; provided, however, that any failure to give such prompt notice or to provide any such facts and circumstances shall not constitute a waiver of any rights of the Indemnified Party, except to the extent that the rights of the Indemnifying Party are actually materially prejudiced thereby.

You shall be entitled to appoint counsel of your choice at your expense to represent an Indemnified Party in any action for which indemnification is sought (in which case you shall not thereafter be responsible for the fees and expenses of any separate counsel retained by that Indemnified Party except as set forth below); provided, however, that such counsel shall be satisfactory to such Indemnified Party. Notwithstanding your election to appoint counsel to represent an Indemnified Party in any action, such Indemnified Party shall have the right to employ separate counsel (including local counsel, but only one such counsel in any jurisdiction in connection with any action), and you shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by you to represent the Indemnified Party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any such action include both the Indemnified Party and you and the Indemnified Party shall have reasonably concluded that there may be legal defenses available to it and/or other Indemnified Parties which are different from or additional to those available to you; (iii) you shall not have employed counsel to represent the Indemnified Party within a reasonable time after notice of the institution of such action; or (iv) you shall authorize the Indemnified Party to employ separate counsel at your expense. You shall not be liable for any settlement or compromise of any action or claim by an Indemnified Party affected without your prior written consent, which consent shall not be unreasonably withheld or delayed.

At the earlier of the Closing Date or the termination of this Commitment Letter, you agree to reimburse or cause the Borrower to reimburse the Lead Arrangers for all reasonable out-of-pocket costs and expenses (including, but not limited to, expenses relating to due diligence investigations, consultants’ and other professional and advisory fees, travel expenses and fees, disbursements and reasonable charges of counsel) incurred by the Lead Arrangers in connection with preparing, negotiating and/or executing the Credit Documentation and this Commitment Letter and term sheets, and carrying out the syndication of the Senior Credit Facilities, in each case whether or not incurred before or after the date of this Commitment Letter.

All payments to be made under this Commitment Letter shall be paid in U.S. dollars and in immediately available, freely transferable cleared funds to such account with such bank as each Lead Arranger notifies to the Company, and shall be paid without (and free and clear of any deduction for) set-off or counter-claim and without any deduction or withholding for or on account of tax (a "Tax Deduction") unless a Tax Deduction is required by law. If a Tax Deduction is required by law to be made, you shall pay such tax and the amount of the payment due shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required. Your obligations under this paragraph shall be subject to receipt from any foreign lender duly signed completed copies of IRS Form W-8BEN or IRS Form W-8ECI or such other evidence satisfactory to you that such foreign lender is entitled to an exemption from, or reduction of, U.S. withholding tax.

This Commitment Letter and the Term Sheet and the contents hereof and thereof are confidential and, except for the disclosure hereof or thereof on a confidential basis to your accountants, attorneys and other professional advisors retained by you in connection with the Transaction, Borrower, or as otherwise required by law or any governmental authority or in connection with any suit, action or proceeding relating to the enforcement of rights hereunder, may not be disclosed in whole or in part to any person or entity without our prior written consent; provided, however, it is understood and agreed that you may disclose this Commitment Letter (including the Term Sheet) but not the Fee Letter attached as Exhibit B to this Commitment Letter after your acceptance of this Commitment Letter, in filings with the Securities and Exchange Commission and other applicable regulatory authorities and stock exchanges. The Lead Arrangers shall be permitted to use information related to the syndication and arrangement of the Senior Credit Facilities in connection with marketing, press releases or other transactional announcements or updates provided to investor or trade publications; provided, that any press release or public announcement shall not be made without your prior written consent, not to be unreasonably withheld or delayed. The Lead Arrangers hereby notify you that pursuant to the requirements of the USA Patriot Act, Title III of Pub. L. 107-56 (signed into law October 26, 2001) (the “Act”), they are required to obtain, verify and record information that identifies you, which information includes your name and address and other information that will allow the Lead Arrangers to identify you in accordance with the Act.

You acknowledge that each Lead Arranger or its affiliates may be providing financing or other services to parties whose interests may conflict with yours. Each Lead Arranger agrees that it will not furnish confidential information obtained from you to any of its other customers and that it will treat confidential information relating to you, the Borrower and your and their respective affiliates with the same degree of care as it treats its own confidential information. Each Lead Arranger further advises you that it will not make available to you confidential information that it has obtained or may obtain from any other customer. In connection with the services and transactions contemplated hereby, you agree that each Lead Arranger is permitted to access, use and share with any of its bank or non-bank affiliates, agents, advisors (legal or otherwise) or representatives any information concerning you, the Borrower or any of your or its respective affiliates that is or may come into the possession of such Lead Arranger or any of such affiliates.

The provisions of the immediately preceding eleven paragraphs shall remain in full force and effect regardless of whether any definitive documentation for the Senior Credit Facilities shall be executed and delivered, and notwithstanding the termination of this Commitment Letter or any commitment or undertaking of the Lead Arrangers hereunder; provided, however, that you shall be deemed released of your reimbursement and indemnification obligations hereunder upon the execution of all definitive documentation for the Senior Credit Facilities and the initial extension of credit thereunder.

This Commitment Letter may be executed in counterparts which, taken together, shall constitute an original. Delivery of an executed counterpart of this Commitment Letter by telecopier, e-mail or facsimile shall be effective as delivery of a manually executed counterpart thereof.

This Commitment Letter shall be governed by, and construed in accordance with, the laws of the State of New York. Each of you and the Lead Arrangers hereby irrevocably waives any and all right to trial by jury in any action, proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Commitment Letter (including, without limitation, the Term Sheet), the Transaction and the other transactions contemplated hereby and thereby or the actions of the Lead Arrangers in the negotiation, performance or enforcement hereof. The commitments and undertakings of the Lead Arrangers may be terminated by us if you fail to perform your obligations under this Commitment Letter on a timely basis.

This Commitment Letter, together with the Term Sheet, embodies the entire agreement and understanding among the Lead Arrangers and you with respect to the Senior Credit Facilities and supersedes all prior agreements and understandings relating to the specific matters hereof, including the letter agreement and term sheet among the Lead Arrangers and you regarding the Senior Credit Facilities dated April 13, 2007. However, please note that the terms and conditions of the commitment and undertakings of the Lead Arrangers hereunder are not limited to those set forth herein or in the Term Sheet. Those matters that are not covered or made clear herein or in the Term Sheet are subject to mutual agreement of the parties. No party has been authorized by the Lead Arrangers to make any oral or written statements that are inconsistent with this Commitment Letter.

This Commitment Letter is not assignable by you without our prior written consent, is assignable by us only as contemplated herein, and is intended to be solely for the benefit of the parties hereto and the Indemnified Parties. This Commitment Letter shall not be amended or modified except in writing signed by all parties hereto.

This Commitment Letter and all commitments and undertakings of the Lead Arrangers hereunder will expire at 5:00 p.m. (New York City time) on June 15, 2007 unless you execute this Commitment Letter and return it to us prior to that time. Thereafter, all commitments and undertakings of the Lead Arrangers hereunder will expire on the earlier of (a) October 22, 2007, unless the definitive documents for the financing of the Transaction have been executed and delivered, and (b) the acceptance by you or any of your affiliates of an offer for all or any substantial part of the capital stock or property and assets of the Borrower and their subsidiaries other than as part of the Transaction. In consideration of the time and resources that the Lead Arrangers will devote to the Senior Credit Facilities, you agree that, until such expiration, you will not solicit, initiate, entertain or permit, or enter into any discussions in respect of, any offering, placement or arrangement of any competing senior credit facilities for the Borrower and their subsidiaries with respect to the matters addressed in this letter.

[THE BALANCE OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

We are pleased to have the opportunity to work with you in connection with this important financing.

Very truly yours,

BAYERISCHE LANDESBANK, NEW YORK BRANCH

By:	/s/ Thomas Augustin
	Name:	Thomas Augustin
	Title:	Vice President


By:	/s/ George J. Schnepf
	Name:	George J. Schnepf
	Title:	Vice President

ACCEPTED AND AGREED TO AS OF THE DATE FIRST ABOVE WRITTEN:

MACQUARIE INFRASTRUCTURE COMPANY INC. (d/b/a Macquarie Infrastructure Company (US))

By:	/s/ Peter Stokes
	Name:	Peter Stokes
	Title:	CEO

We are pleased to have the opportunity to work with you in connection with this important financing.

	Very truly yours,

	THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND

	By:

		Name:

		Title:


	By:

		Name:

		Title:

ACCEPTED AND AGREED TO AS OF THE DATE FIRST ABOVE WRITTEN:

MACQUARIE INFRASTRUCTURE COMPANY INC. (d/b/a Macquarie Infrastructure Company (US))

By:	/s/ Peter Stokes
	Name:	Peter Stokes
	Title:	CEO

EXHIBIT A

Summary of Terms and Conditions

Amended and Restated June 12, 2007

I. The Parties

1. Borrower	Mercury Air Centers, Inc. (“Mercury”), a Delaware corporation, the owner and operator of fixed base operations at twenty-two airports.

2. Purpose	$192 million of debt will be used to refinance the outstanding debt of the Borrower, pay costs associated with the refinance and pay a one-time distribution to both the preferred and ordinary shareholders of the Borrower and an additional $12.5 million working capital facility to fund a portion of certain specific capital projects and issue letters of credit.

3. Equity Investor	All ordinary shares in Mercury are to be acquired immediately prior to the Closing by Macquarie FBO Holdings LLC (“MFBO”), a Delaware limited liability company, 100% owned by Macquarie Infrastructure Company LLC. All preferred shares of the Borrower are to be owned by Kenn Ricci, an individual.

4. Lead Arrangers	Bank of Ireland and BayernLB.

5. Senior Lenders	Lead Arrangers and other banks or financial institutions to whom the Facilities may be syndicated.

6. Working Capital Facility Loan Lenders	Lead Arrangers

7. Administrative Agent	BayernLB

8. Legal Advisor	Orrick, Herrington & Sutcliffe LLP

9. Other Consultants	Technical: Jacobs Consulting Group Environmental: Weston Solutions Inc. Insurance: Marsh USA Inc.

II. The Facilities

10. The Facilities	The Facilities will consist of the following: (i) Bridge Loan Facility of $192,000,000 (ii) Working Capital Facility of $12,500,000.

Bridge Loan Facility

11. Use of Proceeds	The Bridge Loan Facility will be used to refinance the existing debt of Borrower, pay associated costs and make a one-time distribution to both the preferred and ordinary equity investors in Borrower.

12. Bridge Loan Maturity Date	2 years from Closing Date.

13. Closing Date	On initial draw down, expected around July 31, 2007

14. Mandatory Prepayment	The Borrower shall make Mandatory Prepayments in the following situations without penalty or premium other than hedge termination obligations payable to the Hedging Banks. The Mandatory Prepayments shall be applied first to loans outstanding under the Bridge Loan Facility, then to any revolving loans that may be outstanding under the Working Capital Facility, and then to cash-collateralize any outstanding Letters of Credit. i. If any net proceeds from a sale of the Borrower's or its subsidiaries' property that is not used to purchase replacement assets exceeds $250,000, Borrower will prepay the Facilities in the amount of such excess other than with respect to the sale of any of the Borrower’s or its subsidiaries’ aircraft charter, maintenance or management business (the “Excluded Business”) within six months from closing (the “Excluded Business Divestment Period”). ii. If Borrower or any of its subsidiaries incurs debt for borrowed money that is not permitted indebtedness, 100% of the net debt proceeds will be applied to prepay the Facilities. iii. If Borrower or any of its subsidiaries sells or issues equity securities (other than any issuance or sale: to fund expansion capital expenditures, or to permit conversion of outstanding preferred shares to common shares after acquisition thereof from Ken Ricci by MFBO or any of its affiliates, or to MFBO in connection with obligation to provide additional $29 million in equity by the end of 2007, or certain intercompany issuance, or in connection with the sale of the Excluded Business during the Excluded Business Divestment Period), 100% of the net equity proceeds will be applied to prepay the Facilities.

-2-

	iv. The proceeds of any termination payment or similar compensation received from an airport authority in respect of the termination of any FBO Lease will be applied to prepay the Facilities. v. If any insurance proceeds are not used for reconstruction, such proceeds will be applied to prepay the Facilities, subject to appropriate materiality tests.

15. Optional Repayment	Repayments of the Bridge Loan Facility are permitted without penalty (subject to the payment of any break funding costs incurred including reversing interest rate hedging transactions) upon at least five business days’ written notice. Optional Repayments of the Bridge Loan Facility must be made in a minimum amount of $2,000,000 and in increments of $1,000,000. Amounts repaid under the Bridge Loan may not be redrawn.

Working Capital Facility

16. Use of Proceeds	Borrower may utilize the Working Capital Facility for Letters of Credit and to fund specific capital projects outlined in the FBO Capital Expenditure Schedule to the Purchase Agreement, other than projects designated as discretionary in such schedule.

17. Maturity Date	Bridge Loan Maturity Date.

18. Closing Date	On initial draw down of Bridge Loan Facility, expected around July 31, 2007.

19. Drawdown	Advances under the Working Capital Facility may be made, and Letters of Credit may be issued, on a revolving basis up to the full amount of the Working Capital Facility.

20. Repayment	Repayments of the Working Capital Facility are permitted without penalty on any Interest Payment Date upon not less than three days prior written notice to the Working Capital Facility Loan Lenders. Optional Repayments of the Working Capital Facility must be made in a minimum amount of $100,000 and in increments of $50,000. All amounts outstanding under the Working Capital Facility shall be due and payable in full on the Maturity Date.

-3-

III. The Credit Facilities

21. Mandatory Debt Service	Interest, Commitment Fee, Administrative Agent’s Fee and hedging obligations payable by the Borrower will be considered Mandatory Debt Service.

22. Restricted Payments (Lock-Up)	Borrower may make quarterly distributions, including distributions to holders of preferred equity (within 35 days following each quarterly payment date) only as long as the following conditions have been met:

	i.	The DSCR for the preceding twelve month period is 1.50 or higher;
	ii.	The DSCR for the subsequent twelve month period is projected to be 1.50 or higher;
	iii.	Debt Service Reserve Account is fully funded;
	iv.	Mandatory Prepayments have been made;
	v.	No Default or Event of Default exists;
	vi.	To the extent that the concession for the Charleston FBO is not renewed by January 1, 2008, verification that the projected Site EBITDA of the Borrower (excluding contributions from the FBO at Atlanta Hartsfield) exceeds 28.75 million;
	vii.	In case a governmental authority notifies the Borrower or any of its subsidiaries of the need to remediate contamination at any of the FBOs, funds to cover the expected cleanup costs (as confirmed by the Environmental Consultant) shall have been set aside; and
	viii.	No lock-up under EBIDTDA covenant (Sec. 23 below).

	For clarification, these conditions shall not apply to the one time distribution payable to both preferred and ordinary shareholders at the closing.

-4-

23. EBITDA covenant

At each distribution date, trailing 12 month Site EBITDA (on a proforma basis, as if all facilities had been owned for the full twelve months) shall exceed the following levels:

Year Minimum EBITDA

2007 $27.10 million

2008 $28.80 million

2009 $30.50 million

Failure to achieve the Minimum EBITDA at any test date shall result in an equity lockup for 6 months. If, at the end of the six month period, the threshold is reached, then cash trapped shall be made available for distribution (subject to other distribution tests), otherwise cash will be swept to repay debt.

“Site EBITDA” shall mean the total consolidated EBITDA of Mercury before allocation of head office expenses.

24. Collateral	The Facilities are secured by a grant of first priority security interest in the following property (subject to acceptable encumbrances):
	i.	Project Revenues (including all income, revenues, all interest earned on deposits and reserves, rates, fees, charges, rentals, or other receipts derived by or related to the operations of the Borrower and its subsidiaries, and any revenues assigned to the Borrower and its subsidiaries and proceeds of the sale or other disposition of all or any part of the Borrower’s or its subsidiaries’ assets (“Project Revenues”), project accounts and cash therein, including the Debt Service Reserve Account.
	ii.	(A) Pledge of all ordinary and preferred shares of the Borrower and (B) pledge of all ordinary and preferred shares of each subsidiary of the Borrower. If such pledge is prohibited under the terms of a FBO lease and the Borrower is unable to obtain all relevant consents, then the Borrower will, if not prohibited by the applicable FBO Lease, establish a new single purpose holding company subsidiary to own the subsidiary holding such FBO Lease and pledge the shares of such new holding company subsidiary.
	iii.	Security interest in substantially all assets of the business, including, all FBO leases (subject to airport authority approval if required), all other material agreements and rights to receive Project Revenues (including fuel contracts, subleases, service agreements, employment agreements), licenses, equipment and machinery, inventory (including jet fuel) and account whether existing at the Closing Date or thereafter acquired, and the proceeds thereof. Note that under most of the FBO leases, prior consent of the airport authority is required to collaterally assign the FBO leases, and the Borrower is obligated to use commercially reasonable efforts to obtain consents from the airport authorities.

-5-

	iv.	Insurance policies and any claims or proceeds.

	Notwithstanding any of the foregoing, until the end of the Excluded Business Divestment Period, Collateral will exclude shares, membership interests and assets of the Excluded Business.

25. Hedging Requirements

Borrower is required to enter into interest rate hedges at financial close for at least 100% of the Bridge Loan Facility interest rate exposure, for the remaining term of the Bridge Loan Facility. All hedging payments will rank pari-passu with the Facilities.

Borrower will request proposals for the provision of hedges from the Lead Arrangers together with Macquarie Bank Limited. Each of the Lead Arrangers will subsequently have a right of first refusal to match the terms of the best hedging proposal provided to Borrower and thereafter act as Hedging Banks provided that such right of first refusal will only apply to up to 25% of the interest rate hedge.

Hedging Banks will be given customary rights with respect to ranking, security, voting, events of default and other terms necessary to document the relationship between Lead Arrangers, Hedging Banks and Borrower.

26. Representations and Warranties	Include:
	i.	Valid existence of Borrower;
	ii.	Authority and due authorization of Borrower;
	iii.	Validity and enforceability of loan documents (subject to standard qualifications) and non-contravention of organizational documents, laws, etc.
	iv.	No default;
	v.	Financial statements;
	vi.	Funding of pension plans and compliance with ERISA;
	vii.	Payment of taxes (subject to customary contest rights);
	viii.	No material pending or threatened uninsured litigation;

-6-

	ix.	Ownership of or leasehold interest in assets;
	x.	No breach of environmental or other laws in any material respect (subject to customary contest rights);
	xi.	No other business;
	xii.	Insurance coverage is in line with prudent market practice;
	xiii.	All consents, filings, and licenses etc. required for conduct of business have been obtained and are in full force and effect;
	xiv.	No encumbrances other than permitted encumbrances;
	xv.	No indebtedness for borrowed money other than permitted indebtedness;
	xvi.	Effectiveness, enforceability of material agreements;
	xvii.	Creation, perfection and first priority of liens (except permitted liens); all required third-party approvals therefor have been obtained and are in full force and effect
	xviii.	Solvency;
	xix.	Satisfaction of conditions precedent under Purchase and Sale Agreement between MFBO and the owners of Mercury (“PSA”);
	xx.	Due authorization and valid issuance of all outstanding equity interests of Borrower and its subsidiaries;
	xxi.	Non-deferred payment of purchase price for aviation fuel at prevailing market prices at time of delivery;
	xxii.	Accuracy of information furnished; and
	xxiii.	Environmental matters (subject to materiality qualifier)

27. Conditions Precedent

Usual and customary Conditions Precedent to closing include, but not limited to legal opinions satisfactory to Lead Arrangers, payment of all closing fees, no Default or Event of Default shall have occurred and be continuing, no Material Adverse Change (as defined below) and execution and delivery of documentation satisfactory to the Lead Arrangers, as well as closing of the Acquisition and transfer of all common equity interest in the Borrower to MFBO, and acquisition of a call option by MFBO to subsequently acquire the outstanding preferred stock of Borrower, all funded exclusively by a cash equity contribution by the Equity Investor; provided, however, that any CP as to the accuracy of representations and warranties as at the closing in all material respects (and the absence of any Default or Event of Default relating thereto) shall be limited to the accuracy of the representations and warranties in the Stock Purchase Agreement, rather than in the loan agreement, except for the following representations: (1) authorization of loan transaction, (2) enforceability of loan documents & non-contravention (3) no encumbrances, (4) limits on indebtedness, and (5) grant of security interest/perfection of liens. Total cash equity contributed by the Equity Investor in an amount such that immediately following the refinancing and after the one-time distribution to the Borrower’s preferred and common shareholders, Equity Investor’s net equity contribution shall not be less than $230.0 million. MFBO will commit to contribute additional equity capital to the Borrower (a) to supplement the Working Capital Facility and fund required capital expenditures and (b) to indemnify and hold the Borrower harmless from any damages, losses or liabilities related to the San Jose Acquisition.

-7-

“Material Adverse Change” means an event, condition or circumstance or related series thereof that results in, or could reasonably be expected to result in, a material adverse effect on the business, properties, assets, liabilities, results of operations or condition of Mercury and its subsidiaries, taken as a whole, exclusive of any effect arising from or related to: (a) any general condition affecting the industry in which Mercury is engaged; (b) the announcement or pendency of any of the transactions contemplated by the Stock Purchase Agreement; (c) any action taken by Sellers (as defined in the Stock Purchase Agreement) or Mercury at MFBO’s request pursuant to the Transaction Documents (as defined in the Stock Purchase Agreement) (d) acts of war or terrorism, other than acts of war or terrorism directly against Mercury, any subsidiary of Mercury or any of their assets, or acts of war or terrorism that have a disproportionate impact on the Mercury, any subsidiary of Mercury or any of their assets; (e) general economic, political and financial market changes; or (f) any failure to obtain any renewal or extension of the lease term regarding the real property leased from the City of Atlanta under the Atlanta Hartsfield FBO lease disclosed on clause (b)(i) of the Real Estate Schedule to the Stock Purchase Agreement, unless and solely if Mercury Air Center-Hartsfield, LLC or another affiliate of Mercury has ceased, or has undertaken affirmative actions to withdraw from, actual occupancy of such real property.

-8-

	From the date of the Stock Purchase Agreement through the Closing, MFBO shall promptly notify the Lead Arrangers in writing of any notice from the Sellers of any development causing a breach of any of the representations and warranties in Articles III or IV of the Stock Purchase Agreement (attaching a copy of such notice from the Sellers). Upon receipt of such notice, Lead Arrangers may terminate the lending commitment if, as a result of such development, any of the Sellers or the Company is in breach, in any material respect, of its representations or warranties under the Stock Purchase Agreement; provided, that if Lead Arrangers fail to exercise such termination right within ten (10) Business Days after receiving such notification, the Lenders shall be deemed to have accepted that such written notice from the Sellers shall be deemed to have amended the Schedules to the Stock Purchase Agreement and to have qualified the representations and warranties contained in the Stock Purchase Agreement for purposes of determining the accuracy of representations and warranties at closing.

28. Undertakings	Positive and negative undertakings given by the Borrower in customary form for transactions of this nature, including without limitation appropriate materiality tests, permitted exceptions and, where appropriate, de minimis provisions. Borrower shall use commercially reasonable efforts to transfer the Excluded Business to an unrelated third party during the Excluded Business Divestment Period. If such transfer is not consummated within such period, the Borrower shall arrange for the transfer of the Excluded Business and related assets, to a sufficiently capitalized separate subsidiary in a manner that minimizes the exposure of the Borrower or any of its other subsidiaries to liability relating to the conduct of the Excluded Business.

29. Events of Default	Include:

	i.	Non-payment (with 3 Business Days grace for interest and other non-principal amounts);
	ii.	(a) Failure by MFBO to make required equity contributions to fund capital expenditures required to be made by the Borrower or its subsidiaries, or to indemnify the Borrower and its subsidiaries for losses related to the San Jose Acquisition (with 10 Business Days grace period), or (b) default by any loan party in performance or breach of other obligations or undertakings under any Loan Document including the Financing Documents not remedied within a 30-day remedy period for affirmative covenants (extendible for an additional period of up to 60 days if remedy cannot be accomplished in original 30 days and is being diligently pursued and extension does not result in a material adverse effect);

-9-

	iii.	Any representation or warranty being untrue in any respect which will have a material adverse effect on the Borrower's ability to comply with its obligations under the Loan Documents;
	iv.	Cross-default with respect to any other debt (other than in respect of any subordinated debt) subject to materiality threshold;
	v.	Bankruptcy and insolvency events;
	vi.	Failure to pay unstayed and uninsured judgments within 30 days (with appropriate materiality qualification);
	vii.	Cessation or material change of business;
	viii.	Security ceases to be effective as first priority security (subject to permitted liens);
	ix.	Any insurance required is terminated, ceases to be valid or is amended so as to have a material adverse impact on the Project unless similar cover replaces such insurance;
	x.	Nationalization, condemnation or government taking that causes an inability of the Borrower to perform its obligations under the Financing Documents;
	xi.	Required authorizations are revoked or terminated that causes an inability of the Borrower to perform its obligations under the Financing Documents;
	xii.	Failure to comply with applicable law that could reasonably be expected to result in a material adverse effect on the Borrower;
	xiv.	Failure to comply with environmental laws that could reasonably be expected to result in a material adverse effect on the Borrower;
	xv.	Backward DSCR is less than or equal to 1.20 as of the end of any quarter;
	xvi	Change of control;
	xvii.	Failure to perform any material contract (subject to contest rights and 30 day remedy period or longer period (up to additional 60 days) if remedy cannot be accomplished in 30 days and is being diligently pursued and extension does not result in a material adverse effect); provided that failure on the part of a party other than the Borrower or its subsidiaries is an Event of Default only if such failure has material adverse effect;

-10-

	xviii.	Inappropriate use or withdrawal of funds in project accounts;
	xix.	Default under the subsidiary guaranty or any other security agreement;
	xx.	Any Financing Document ceases to be in full force and effect or any equity securities are not subject to first priority, perfected lien;
	xxi.	Any reportable ERISA event;
	xxii.	Any material contract ceases to be in full force and effect, or is terminated prior to the scheduled expiration date, or any material provision thereof is declared null and void;
	xxiii.	Abandonment of business at any airport for 30 days;
	xxiv.	Any event of condition involving financial impact in excess of $10 million that could have a material adverse effect;
	xxv.	A refinance of the Senior Debt facility provided to Atlantic Aviation FBO Inc.
	xxvi.	Failure by MFBO to make an additional equity contribution in the Borrower of at least $29 million by December 31, 2007 (either directly or through the exercise of the call option on all preferred shares in Borrower)

	An Event of Default in (xvii), (xxii) or (xxiii) above that affects an FBO or FBOs (other than the five largest FBO contributors of EBITDA) may be cured prior to acceleration of the Loans by prepayment of that portion of the Bridge Loans that corresponds to the highest of the projected, actual or preceding three-year average EBITDA contribution of the affected FBO(s). Such prepayment will release the affected FBO(s) from the Financing Documents. This method of cure may be exercised only once during the term of the Loans, and only if the proportional EBITDA contribution of the affected FBO(s) does not exceed 5% of aggregate EBITDA.

	Sale of the Excluded Business shall not be an Event of Default.

IV. Interest Rate and Fees

30. Interest Rate	The Facilities will bear interest at one, two, three or six month LIBOR plus the Applicable Margin.

31. Applicable Margin	170 bps

-11-

32. Interest Payment Date	Interest will be paid in arrears on the last day of each Interest Period, except in the case of a six months interest period, where interest will also be paid three months from the start of the Interest Period.

33. Interest Period	One, two, three or six months.

34. Default Rate	Interest Rate plus 2% per annum.

35. Commitment Fee	0.50% per annum of the undrawn portion of the Facilities payable on any Interest Payment Date. The Commitment Fee will accrue in arrears from the Closing Date.


V. Flow of Funds

36. Priority of Payments	Following each Interest Payment Date, after payment of operating expenses, taxes and required capital expenditures, and the retention/refunding of reserves for contingencies and the payment of items reasonably expected to be due and payable prior to the next Interest Payment Date, the following distributions shall be made in the following order of priority:

	i.	Fees and expenses due to the Lead Arrangers and Senior Lenders;
	ii.	Interest on the Bridge Loan Facility and the Working Capital Facility as well as any hedging obligations;
	iii.	Mandatory Repayment;
	iv.	Mandatory Prepayments;
	v.	any required payments to the Debt Service Reserve Account;
	v.	Optional Repayment and any hedging termination obligations payable as a result of such repayment;
	vi.	any payments (if applicable) to the Distribution Reserve Account
	v.	Distributions to Equity Investors.

37. Debt Service Reserve Account

Borrower shall maintain a Debt Service Reserve Account in an amount equal to three months of Mandatory Debt Service payable under the Facilities. The Debt Service Reserve Account shall be fully funded on the Closing Date. Alternatively, a letter of credit by a financial institution rated at least A-/A3 may be posted for the benefit of the Senior Lenders on the Closing Date.

-12-

VI. Ratios

38. Debt Service Coverage Ratio	The Debt Service Coverage Ratio (“DSCR”) for a particular period will be calculated on a quarterly basis as the ratio of (a) Net Cash Flow for the twelve-month period ending on the respective calculation date to (b) Mandatory Debt Service for the twelve-month period ending on the respective calculation date.

39. Net Cash Flow	“Net Cash Flow” means, in respect of any period, (a) aggregate Project Revenues received during such period plus additional equity contributions during such period not used to pay for expansion capital expenditures, less (b) the operating expenses, maintenance capital expenditure and taxes paid during such period, but excluding any expansion capital expenditures funded with distributed amounts or equity contributions or financed with permitted debt, non-cash charges, interest and principal payments on the loans, distributions, investments, costs paid by insurance proceeds, and employee phantom stock ownership plan payments..

VII. General

40. Reporting requirements of the Borrower	i.	Annual audited financial statements no later than 90 days after close of each fiscal year;
	ii.	Quarterly financial statements no later than 45 days after close of each fiscal quarter;
	iii.	Contemporaneously with delivery of (i) and (ii): a compliance certificate stating that an Event of Default has not occurred, or if an EoD has occurred and is continuing, a statement of proposed cure remedies and a certificate stating all expansion capital expenditures during the previous quarter and the source of funds for such expenditures;
	iv.	Monthly operating reports no later than 30 days after close of each month; and
	v.	DSCR certificate no later than 30 days after the close of each fiscal quarter, certifying the DSCR for the twelve-month period.

41. Governing Law

The documentation is governed by New York law, venue shall be in New York County, and contains a waiver of jury trial.

-13-

Delaware		001-32385		20-6196808
(State or other jurisdiction of incorporation)		Commission File Number		(IRS Employer Identification No.)

Delaware		001-32384		43-2052503
(State or other jurisdiction of incorporation)		Commission File Number		(IRS Employer Identification No.)

125 West 55^th Street, New York, New York		10019
(Address of Principal Executive Offices)		(Zip Code)

Facility 1
Term	Detail and Comment
Borrower	Mercury
Facilities	§ $192.0 million bridge term loan facility § $12.5 million capital expenditure revolving facility
Interest rate	LIBOR plus 1.70%
Maturity	2 years from closing date
Guarantor	None

Facility 2
Term	Detail and Comment
Borrower	SJJC
Facilities	§ $80.0 million bridge term loan facility § $5.0 million capital expenditure revolving facility
Interest rate	LIBOR plus 1.70%
Maturity	2 years from closing date
Guarantor	Macquarie FBO Holdings LLC

	Not Applicable
	(Former name or former address, if changed since last report)

Amount	Start date	End date	Fixed rate
$144 million	Sep 28, 2007	Sep 28, 2009	4.9925%
$48 million	Sep 28, 2007	Sep 28, 2009	5.0175%

Interest rate margin:	§ For the first six months following close, 2% for LIBOR loans or 1% for base rate loans. § Thereafter, 2.5% and 1.25% until the SJJC tranche is repaid. § 1.25% and 0.25% following repayment of the SJJC tranche.
Debt Covenant	The Borrower and the Guarantor shall agree not to incur additional debt until SJJC tranche has been repaid or terminated.
Maximum Leverage Ratio	Increasing to a maximum of 6.8x for the quarters ending June 30, 2007 through maturity and reverting to 5.6x when SJJC tranche has been repaid or terminated.


	MACQUARIE INFRASTRUCTURE COMPANY TRUST

Date: June 18, 2007	By:	/s/ Peter Stokes
		Name: Peter Stokes
		Title: Regular Trustee


	MACQUARIE INFRASTRUCTURE COMPANY LLC

Date: June 18, 2007	By:	/s/ Peter Stokes
		Name: Peter Stokes
		Title: Chief Executive Officer

		MERCURY AIR CENTERS, INC.

		By:	/s/ Mark F. Raterman
		Name:	Mark F. Raterman
		Title:	Director

		ALLIED CAPITAL CORPORATION, as the Seller Representative

		By:	/s/ Mark F. Raterman
		Name:	Mark F. Raterman
		Title:	Director

		Page

ARTICLE I PURCHASE AND SALE OF MEMBERSHIP INTERESTS		2

1.1	PURCHASE AND SALE.	2
1.2	PURCHASE PRICE.	2
1.3	CLOSING.	4
1.4	PHYSICAL INVENTORY	4
1.5	CLOSING PRORATIONS AND CLOSING COSTS.	5
1.6	PRE-CLOSING WORKING CAPITAL ADJUSTMENT.	6
1.7	POST-CLOSING WORKING CAPITAL ADJUSTMENT.	6
1.8	GAAP ACCOUNTING.	7
1.9	ACQUIROR CONSENTS.	8
1.10	SELLER REPRESENTATIVE.	8

ARTICLE II REPRESENTATIONS & WARRANTIES OF SELLER AND THE BENEFICIAL OWNERS		9

2.1	ORGANIZATION AND EXISTENCE.	9
2.2	EXECUTION AND EFFECT OF AGREEMENT.	9
2.3	FINANCIAL STATEMENTS; LIABILITIES.	10
2.4	CAPITALIZATION.	10
2.5	INVENTORY.	11
2.6	PERSONAL PROPERTY.	11
2.7	TAX MATTERS.	12
2.8	PRODUCTS AND SERVICES.	13
2.9	INTELLECTUAL PROPERTY.	14
2.10	PERMITS; COMPLIANCE WITH LAWS.	15
2.11	REAL PROPERTY; LEASES OF REAL PROPERTY.	15
2.12	INSURANCE.	17
2.13	CONTRACTS.	17
2.14	NO VIOLATION.	19
2.15	LITIGATION; ORDERS.	19
2.16	THIRD PARTY AND GOVERNMENTAL CONSENTS.	20
2.17	ENVIRONMENTAL MATTERS.	20
2.18	EMPLOYEES; CONSULTANTS; LABOR MATTERS.	21
2.19	BUSINESS CONDUCT.	22
2.20	TRANSACTIONS WITH AFFILIATES.	23
2.21	NO BROKERS.	24
2.22	CUSTOMERS AND VENDORS.	24
2.23	EMPLOYEE BENEFIT PLANS; ERISA.	24
2.24	CAPITAL EXPENDITURES.	25
2.25	CERTAIN PAYMENTS.	25
2.26	BUSINESS ACTIVITY RESTRICTIONS.	26
2.27	ACCOUNTS RECEIVABLE.	26
2.28	OPERATIONS OF JET CENTER ENTITIES.	26
2.29	NO SIGNIFICANT ITEMS EXCLUDED.	26

ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE ACQUIROR		27

3.1	ORGANIZATION AND EXISTENCE.	27
3.2	EXECUTION AND EFFECT OF AGREEMENT.	27
3.3	NO VIOLATION.	27
3.4	LITIGATION.	27
3.5	CONSENTS.	28
3.6	NO BROKERS.	28

ARTICLE IV COVENANTS		28

4.1	FILINGS AND OTHER ACTIONS.	28
4.2	HSR ACT.	29
4.3	CONDUCT OF BUSINESS PENDING CLOSING.	29
4.4	NO SHOP.	31
4.5	NOTIFICATION OF CERTAIN MATTERS.	32
4.6	TRANSFER/ASSIGNMENT OF MEMBERSHIP INTERESTS.	33
4.7	NONCOMPETE.	33
4.8	FURTHER ASSURANCES.	34
4.9	POST-CLOSING COVENANTS.	35
4.10	EMPLOYEE MATTERS.	35
4.11	HANGAR F CONSTRUCTION.	36
4.12	DUE DILIGENCE.	36
4.13	AIRCRAFT MANAGEMENT, AIR CHARTER AND MAINTENANCE.	36
4.14	ACM AVIATION NAME.	36
4.15	NOTIFICATION REGARDING CERTAIN EVENTS.	37

ARTICLE V CONDITIONS TO THE CLOSING		37

5.1	CONDITIONS TO OBLIGATIONS OF EACH PARTY TO EFFECT THE CLOSING.	37
5.2	ADDITIONAL CONDITIONS TO OBLIGATIONS OF THE SELLER TO EFFECT THE CLOSING.	38
5.3	ADDITIONAL CONDITIONS TO THE OBLIGATIONS OF THE ACQUIROR TO EFFECT THE CLOSING.	38
5.4	EFFECT OF CLOSING; WAIVER.	40

ARTICLE VI		41

INDEMNIFICATION; REMEDIES		41

6.1	OBLIGATIONS OF THE SELLER AND THE BENEFICIAL OWNERS.	41
6.2	OBLIGATIONS OF THE ACQUIROR.	42
6.3	PROCEDURE FOR CLAIMS.	42
6.4	SURVIVAL.	43
6.5	INDEMNITY PAYMENTS.	44
6.6	LIMITATIONS ON INDEMNIFICATION OBLIGATIONS UNDER ARTICLE VI.	45
6.7	REMEDIES.	45
6.8	TREATMENT OF INDEMNIFICATION PAYMENTS.	46

ARTICLE VII TERMINATION		46

7.1	TERMINATION.	46
7.2	CONSEQUENCES OF TERMINATION.	47

ARTICLE VIII GENERAL PROVISIONS		48

8.1	COOPERATION.	48
8.2	PRESS RELEASES; CONFIDENTIALITY.	48
8.3	EXPENSES.	49
8.4	AMENDMENTS AND WAIVERS.	49
8.5	SUCCESSORS AND ASSIGNS.	50
8.6	THIRD PARTY BENEFICIARIES.	51
8.7	CHOICE OF LAW.	51
8.8	JURISDICTION; SERVICE OF PROCESS.	51
8.9	NOTICES.	51
8.10	SEVERABILITY.	53
8.11	ENTIRE AGREEMENT.	53
8.12	CONSTRUCTION.	53
8.13	TITLES AND SUBTITLES.	53
8.14	COUNTERPARTS.	53
8.15	RELEASE BY SELLER, JET CENTER ENTITIES AND BENEFICIAL OWNERS.	54

If to the Acquiror, to:	With a copy to (which shall not constitute notice):

MAC Acquisitions LLC 355 Richmond Road Richmond Heights, OH 44143 Fax: (216) 289-6932 Attn: Kenneth C. Ricci	DLA Piper US LLP 1200 Nineteenth Street, N.W. Washington, DC 20036-2412 Fax: (202) 223-2085 Attn: Anthony H. Rickert, Esq.

Allied Capital Corporation 1919 Pennsylvania Avenue, N.W. Washington, DC 20006-3434 Fax: (202) 721-6101 Attn: Mark F. Raterman	Macquarie FBO Holdings LLC 125 West 55th Street, 22nd Floor New York, NY 10014 Fax: (212) 231-1717 Attn: Peter Stokes

	Pillsbury Winthrop Shaw Pittman LLP 1650 Tysons Blvd. Suite 1400 McLean, VA 22102 Fax: (703) 770-7901 Attn: Craig E. Chason, Esq. David J. Charles, Esq.

WITNESS:		SELLER:

		[INSERT APPLICABLE NAME]


		By:
		Name:
		Title:

		BUYER:

		[INSERT APPLICABLE NAME]


		By:
		Name:
		Title:

If to the Seller, to:	With a copy to (which shall not constitute notice):

Barry Fernald, Seller Representative 14344 Evans Lane Saratoga, CA 95070 Fax: (408) 378 5450	Hopkins & Carley, A Law Corporation The Letitia Building 70 S. First Street San Jose, CA 95113-2406 Fax: (408) 998-4790 Attn: Clarence A. Kellogg Jr., Esq.

	Groom & Cave, LLP 1570 The Alameda, Suite 100 San Jose, CA 95126 Fax: (408) 286-3423 Attn: Michael P. Groom, Esq.

If to the Beneficial Owners, to:	With a copy to (which shall not constitute notice):

ACM Aviation, Inc. c/o The Yellowstone Jetcenter 456 Gallatin Field Road Belgrade, Montana 59714 Fax: (408) 286-3423 Attn: A.C. Markkula, Jr.	Hopkins & Carley, A Law Corporation The Letitia Building 70 S. First Street San Jose, CA 95113-2406 Fax: (408) 998-4790 Attn: Clarence A. Kellogg Jr., Esq.

San Jose Jet Center, Inc. 1250 Aviation Avenue San Jose, CA 95110 Fax: (408) 297-2760 Attn: Barry Fernald	Groom & Cave, LLP 1570 The Alameda, Suite 100 San Jose, CA 95126 Fax: (408) 286-3423 Attn: Michael P. Groom, Esq.

WITNESS:	MAC Acquisitions LLC
	By: Mercury Air Centers, Inc., Sole Stockholder
	By:	/s/ Mark Raterman
	Name:	Mark Raterman
	Title:	Director

		SAN JOSE JET CENTER, INC.

		By:	/s/ Daniel P. Ryan
		Name:	Daniel P. Ryan
		Title:	Director

		SJJC AVIATION SERVICES, LLC, a Delaware limited liability company

		By:	Board of Directors of San Jose Jet Center, Inc., a California corporation


/s/ Dan Ryan	By:	/s/ Barry [ILLEGIBLE]
		Chairman of the Board,
		Authorized Representative

	SJJC AVIATION SERVICES, LLC, a Delaware limited liability company


/s/ Linday Boyd	By:	/s/ Dan Ryan
		Dan Ryan
		Manager

	JET CENTER PROPERTY SERVICES, LLC, a Delaware limited liability company


/s/ Linday Boyd	By:	/s/ Dan Ryan
		Dan Ryan
		Manager

	ACM AVIATION, LLC, a Delaware limited liability company


/s/ Linday Boyd	By:	/s/ Dan Ryan
		Dan Ryan
		Manager

	ACM PROPERTY SERVICES, LLC, a Delaware limited liability company


/s/ Linday Boyd	By:	/s/ Dan Ryan
		Dan Ryan
		Manager

	SJJC FBO SERVICES, LLC, a Delaware limited liability company


/s/ Linday Boyd	By:	/s/ Dan Ryan
		Dan Ryan
		Manager

WITNESS:			BENEFICIAL OWNERS:


/s/ Susan Greenbach			/s/ James Blair
Susan Greenbach			James Blair

Very truly yours,

THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND


By:	/s/ Peter O’Neill

	Name:	Peter O’Neill

	Title:	Senior Vice President

By:	/s/ Deirdre Murphy

	Name:	Deirdre Murphy

	Title:	Vice President

I. The Parties

1. Borrower	Macquarie FBO Holdings LLC (“MFBO”) a Delaware limited liability company which is acquiring SJJC Aviation Services, LLC (“San Jose FBO”), a Delaware LLC, the owner and operator of fixed base operations at Mineta San Jose International Airport (the “Acquisition”) pursuant to :

	(1)	an amendment to the Stock Purchase Agreement for Mercury Air Centers Inc (“Mercury”), dated April 16, 2007 (as amended, the “Mercury SPA”);
	(2)	a purchase agreement for Mercury’s acquisition of San Jose FBO (the “SJJC SPA”); and
	(3)	an assignment agreement for the assignment of the SJJC SPA from Mercury to MFBO (“Assignment Agreement”).

	Immediately following the Acquisition, San Jose FBO shall assume all indebtedness and all obligations of the Borrower with respect to the Facilities.

2. Purpose	$80 million Bridge Loan Facility will be used to acquire 100% of the membership interests in San Jose FBO (the “Membership Interests”) and pay costs associated with the Acquisition. An additional $5.0 million Working Capital Facility will be used to fund a portion of the costs of certain specific capital projects and issue letters of credit (the “Letters of Credit”).

3. Equity Investor and Guarantor	MFBO

4. Lead Arrangers	Bank of Ireland and BayernLB.

5. Senior Lenders	Lead Arrangers and other banks or financial institutions to whom the Facilities may be syndicated.

6. Working Capital Facility Loan Lenders	Lead Arrangers

7. Administrative Agent	BayernLB

8. Legal Advisor	Orrick, Herrington & Sutcliffe LLP

9. Other Consultants	Technical: Jacobs Consulting Group Environmental: Weston Solutions Inc. Insurance: Marsh USA Inc.

II. The Facilities

10. The Facilities	The Facilities will consist of the following: (i) Bridge Loan Facility of $80,000,000 (ii) Working Capital Facility of $5,000,000.

Bridge Loan Facility

11. Use of Proceeds	The Bridge Loan Facility will be used to acquire 100% of the Membership Interests.

12. Bridge Loan Maturity Date	2 years from Closing Date.

13. Closing Date	On initial draw down, expected around August 31, 2007, and no later than November 15, 2007.

14. Mandatory Prepayment	The Borrower shall make mandatory prepayments in the following situations without penalty or premium other than hedge termination obligations payable to the Hedging Banks. The mandatory prepayments shall be applied first to loans outstanding under the Bridge Loan Facility, then to any revolving loans that may be outstanding under the Working Capital Facility, and then to cash-collateralize any outstanding Letters of Credit.

	i.	If any net proceeds from a sale of the Borrower’s or any of its subsidiaries’ property that is not used to purchase replacement assets exceeds $250,000, Borrower will prepay the Facilities in the amount of such excess, other than with respect to the sale of the Borrower’s aircraft charter, maintenance and management business (the “Excluded Business”) within six months from closing (the “Excluded Business Divestment Period”).

	ii.	If the Borrower or any of its subsidiaries incurs debt for borrowed money that is not permitted indebtedness, 100% of the net debt proceeds will be applied to prepay the Facilities.

	iii.	If the Borrower or any of its subsidiaries sells or issues equity securities (other than any issuance or sale to fund required or expansion capital expenditures or certain intercompany issuance, or in connection with the sale of the Excluded Business during the Excluded Business Divestment Period, 100% of the net equity proceeds will be applied to prepay the Facilities.

	iv.	The proceeds of any termination payment or similar compensation received from an airport authority in respect of the termination of any of the FBO leases will be applied to prepay the Facilities.

	v.	If any insurance proceeds are not used for reconstruction, such proceeds will be applied to prepay the Facilities, subject to appropriate materiality tests.

Year	Minimum EBITDA	Minimum EBITDA after
	before Supermarine	Supermarine Acquisition
	Acquisition

2007	$82,128,000	$88,338,000
2008	$88,293,000	$94,893,000
2009	$95,611,000	$103,000,000