If the Proposed Amendments are not implemented for either Debenture, it is more likely that a “mandatory trigger event” and, consequently, a “mandatory deferral event” will occur under such Debenture. Therefore, it is more likely that ILFC will be required, pursuant to the terms of the Debentures, to defer interest payments on a Debenture if the Proposed Amendments are not implemented for such Debenture. The success of each consent solicitation is not dependent on the success of the other consent solicitation and the Proposed Amendments could become effective for only one Debenture and not the other Debenture.Each consent solicitation will expire at the earlier of (i) 5:00 P.M., New York City Time, on the first date on which the required consents for such consent solicitation have been received by such time, but no earlier than 5:00 P.M., New York City Time, on July 25, 2013 and (ii) 5:00 P.M., New York City Time, on July 31, 2013, unless extended or earlier terminated by ILFC in its sole discretion. Consents may not be revoked once delivered, except under the limited circumstances described in the Consent Solicitation Statement, dated July 23, 2013. ILFC has the right to extend, amend or terminate either or both consent solicitations at any time prior to the effectiveness of the Proposed Amendments relating to the applicable Debenture. If the Proposed Amendments are not effected for either Debenture, such Debenture and the underlying ECAPS will remain in effect in their present form. If the Proposed Amendments are effected for either or both Debentures, they will bind all holders and any subsequent holders of the applicable series of ECAPS, whether or not such holders consented to the amendments. Regardless of the outcome of the consent solicitations, and whether or not the Proposed Amendments are effected, the ECAPS and the Debentures will continue to be outstanding and the Debentures will continue to accrue interest as provided in the Debentures and the indenture governing the Debentures. The Proposed Amendments will not alter ILFC’s obligation to pay the principal of the Debentures or alter the stated interest rate, maturity date or redemption provisions of the Debentures.