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Insurance - Cessna Rental. (a) During the Term, Lessor shall cause to be supplied and preserved in complete pressure as well as result, at Lessee's single expense as well as cost, a plan or policies of insurance coverage giving the coverage described in this Section 7 covering all operations of the Aircraft ("Insurance Policies"). (i) Airplane responsibility insurance covering all procedures of the Aircraft, which protection shall: (A) include an area arrangement sufficient to cover all Airplane operations allowed by this Agreement, with restrictions of not less than 2 Hundred Million US Dollars (United States $200,000,000) per incident on a mixed single restriction basis, covering insurance claims for fatality, bodily injury and also property damages, (B) list Lessor and also Lessee as named insureds as well as list as extra called insureds each of Lessee's and Lessor's associates and their corresponding supervisors, policemans, supervisors, employees and representatives and also Gama Aviation, Inc.; (C) be supported so that it is main and also non-contributing to any other insurance policy that is available to any of the insureds.


(iii) The Insurance policy Plans shall include a recommendation giving that coverages under such Insurance coverage will not be voided by any act or carelessness of anybody, consisting of another insured under the policies; offered that there is neither approval neither real expertise by the insured party that such action would void protection under the policy as well as shall consist of a waiver of subrogation for Lessee and its officers, directors, managers, employees and agents and Gama Aviation.


All Insurance Policies shall offer for a severability of interest/cross liability recommendation, so regarding make certain that the insurance shall run throughout as if a different plan has actually been provided covering each celebration insured, although underwriters' total restriction of responsibility will certainly not boost. (c) Without delay complying with the implementation of this Arrangement and also every year after that, Owner will offer Lessee with certifications of insurance as well as endorsements evidencing the effectiveness (and also renewal, as relevant) of such Insurance coverage in compliance with the insurance policy requirements defined in this Area 7.






Restriction of Liability. LESSOR UNDERSTANDS AND CONCURS THAT THE INSURANCE POLICIES ARE OWNER'S SOLE TREATMENT AGAINST LESSEE FOR ANY AS WELL AS ALL LOSS OR DAMAGES TO THE AIRCRAFT AND/OR INJURY OR FATALITY OF ANY GUEST AND/OR FOR ANY AS WELL AS ALL DECLARES, PROBLEMS, LOSSES, EXPENDITURES AS WELL AS LIABILITIES INCLUDING, BUT NOT LIMITED TO, DIRECT OR INDIRECT LOSS OR DAMAGE TO THE AIRCRAFT, DECREASE IN VALUE OF THE AIRPLANE, LOSS OF EARNINGS, REVENUES, EARNINGS OR BUSINESS OPPORTUNITIES OR SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS AGREEMENT OR AT ALL GOT IN TOUCH WITH THE AIRPLANE UNDER THIS CONTRACT, WHETHER ON THE GROUND OR IN THE AIR, AND THE OTHER PURCHASES CONTEMPLATED HEREBY, UNLESS SUCH ASSERTS, DAMAGES, LOSSES, EXPENDITURES OR OBLIGATIONS 5 ARE SOLELY THE RESULT OF LESSEE'S GROSS OVERSIGHT OR WILLFUL TRANSGRESSION OR LESSOR'S FAILING TO PRESERVE THE INSURANCE COVERAGE REQUIRED HEREUNDER.

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This Area 8 will endure any discontinuation of this Contract. 9. Risk of Loss; Loss or Damage. (a) Based On Section 8, Lessee will bear the danger of loss, damage or damage of the Airplane from the moment of delivery till the Airplane is returned to Lessor according to this Arrangement.




An Event of Loss relative to any type of engine or APU will not, without loss of the airframe, be deemed an Occasion of Loss with respect to the Aircraft (Cessna Rental). 6 10. Discontinuation. This Contract might be terminated: (i) promptly upon the common permission of all parties; (ii) by either party immediately upon the termination of Robert Pittman's work with Lessee for any type of factor; (iii) by the non-breaching celebration if an Event of Default has taken place and the breaching event has not healed within the applicable treatment period (if any type of) offered in Section 14 of this Arrangement; (iv) immediately upon receipt by Owner of the Casualty Value complying with an Event of Loss; or (v) either celebration following a determination by a mutually agreeable Dassault-authorized service facility that the Airplane is harmed to the degree that it is improbable that it can be made operative within sixty (60) days.


11. Depictions, Service Warranties and Contracts. Lessee and also Lessor each stand for, call for as well as concur as complies with: (a) Due Company. It is duly organized as well as validly existing under the legislations of the territory of its organization and will stay appropriately organized as well as existing in good standing and also is appropriately certified to do company any place necessary to perform its additional reading obligations under this Arrangement.


Title; No Liens; Quiet Enjoyment (Cessna Rental). (a) Title to the Aircraft will remain vested in Lessor throughout the Term and the Airplane shall be signed up at the FAA in the name of Lessor. Lessee shall have no right, title or passion in or to the like this Airplane other than as specifically provided herein as well as shall take no action or stop working to take any type of action moderately requested by Owner that would certainly hinder the ongoing registration of the Airplane at the FAA for Owner.

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An Event of Loss with respect to any type of engine or APU shall not, without loss of the airframe, be considered an Event of Loss with respect to the Airplane. This Contract might be terminated: (i) instantly upon the shared approval of all events; (ii) by either celebration promptly upon the termination of Robert Pittman's employment with Lessee for any type of reason; (iii) by the non-breaching party if an Occasion of Default has actually occurred as well as the breaching celebration has not treated within the appropriate treatment period (if any type of) provided for in Section 14 of this Agreement; (iv) immediately upon receipt by Lessor of the Casualty Value adhering to an Occasion of Loss; or (v) either event following a determination by an equally reasonable Dassault-authorized service facility that the Airplane is damaged to the degree that it is unlikely that it can be made operative within sixty (60) days.




11. Depictions, Service Warranties and Agreements. Lessee and Lessor each stand for, require and also concur as complies with: (a) Due Organization. It is duly arranged and validly existing under the laws of the jurisdiction of its organization and will certainly stay appropriately arranged as well as existing in good standing and is appropriately certified to do company anywhere necessary to do its obligations under this Agreement.


Title; No Liens; Peaceful Satisfaction. (a) Title to the Aircraft will remain vested in Owner throughout the Term and also the Airplane shall be registered at the FAA for Lessor. Lessee shall have no right, title or rate of interest in or to the Aircraft except as expressly given herein and will take no action or stop working to take any action reasonably asked visit this page for by Owner that would hinder the continued enrollment of the Airplane at the FAA for Lessor.