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Insurance policy - Cessna Rental. (a) Throughout the Term, Owner shall cause to be provided and also preserved in full force and also impact, at Lessee's sole price as well as expense, a plan or policies of insurance giving the protection defined in this Section 7 covering all operations of the Airplane ("Insurance Coverage"). (i) Aircraft responsibility insurance policy covering all procedures of the Aircraft, which insurance coverage will: (A) include an area stipulation enough to cover all Airplane operations permitted by this Contract, with limits of not much less than Two Hundred Million United States Dollars (US $200,000,000) per event on a consolidated solitary limitation basis, covering cases for fatality, bodily injury and residential or commercial property damages, (B) checklist Lessor and also Lessee as named insureds and also list as added called insureds each of Lessee's and Owner's associates as well as their corresponding supervisors, officers, managers, employees and agents as well as Gama Aeronautics, Inc.; (C) be supported so that it is primary as well as non-contributing to any kind of other insurance that is offered to any one of the insureds.

(iii) The Insurance coverage will consist of an endorsement offering that insurance coverages under such Insurance plan will not be invalidated by any act or oversight of any person, including one more insured under the plans; provided that there is neither permission nor actual expertise by the insured celebration that such action would nullify insurance coverage under the plan and also will consist of a waiver of subrogation in support of Lessee and also its police officers, directors, managers, workers as well as agents and Gama Air travel.

All Insurance plan shall offer a severability of interest/cross liability endorsement, so regarding make sure that the insurance coverage will operate in all areas as if a different policy has been issued covering each party insured, although underwriters' overall limit of responsibility will certainly not boost. (c) Promptly adhering to the implementation of this Arrangement as well as yearly thereafter, Owner shall give Lessee with certificates of insurance coverage and recommendations confirming the effectiveness (as well as renewal, as relevant) of such Insurance plan in conformity with the insurance coverage requirements defined in this Section 7.



Restriction of Obligation. LESSOR UNDERSTANDS AND CONCURS THAT THE INSURANCE PLAN ARE OWNER'S SOLE SOLUTION AGAINST LESSEE FOR ANY AS WELL AS ALL LOSS OR DAMAGE TO THE AIRPLANE AND/OR INJURY OR DEATH OF ANY GUEST AND/OR FOR ANY AND ALSO ALL DECLARES, DAMAGES, LOSSES, EXPENDITURES AND ALSO OBLIGATIONS INCLUDING, BUT NOT LIMITED TO, DIRECT OR INDIRECT LOSS OR DAMAGES TO THE AIRCRAFT, DIMINUTION IN WORTH OF THE AIRCRAFT, LOSS OF REVENUE, REVENUES, REVENUES OR BUSINESS OPPORTUNITIES OR SPECIAL, INCIDENTAL OR CONSEQUENTIAL PROBLEMS ARISING OUT OF THIS CONTRACT OR AT ALL GOT IN TOUCH WITH THE AIRCRAFT UNDER THIS ARRANGEMENT, WHETHER ON THE GROUND OR IN THE AIR, AND ALSO THE OTHER PURCHASES PONDERED HEREBY, UNLESS SUCH DECLARES, PROBLEMS, LOSSES, EXPENDITURES OR RESPONSIBILITIES 5 ARE SOLELY THE RESULT OF LESSEE'S GROSS OVERSIGHT OR WILLFUL MISBEHAVIOR OR OWNER'S FAILURE TO MAINTAIN THE INSURANCE POLICY PLANS REQUIRED HEREUNDER.

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This Area 8 will endure any type of discontinuation of this Agreement. (a) Subject to Section 8, Lessee shall bear the threat of loss, damages or destruction of the Aircraft from the time of shipment up until the Aircraft is returned to Lessor pursuant to this Arrangement.



An Event of Loss with regard to any type of engine or APU will not, without loss of the airframe, be considered an Occasion of Loss with respect to the Airplane. This Contract might be terminated: (i) instantly upon the common permission of all events; (ii) by either party immediately upon the termination of Robert Pittman's work with Lessee for any factor; (iii) by the non-breaching event if an Event of Default has actually happened and also the breaching party has not healed within the appropriate treatment period (if any type of) given for in Section 14 of this Contract; (iv) instantly upon receipt by Lessor of the Casualty Worth adhering to an Occasion of Loss; or (v) either party complying with a resolution by an equally agreeable Dassault-authorized service facility that the Airplane is harmed to the useful content level that it is improbable that it can be made operative within sixty (60) days.

11. Depictions, More about the author Warranties and also Agreements. Lessee and Lessor each represent, warrant and also agree as complies with: (a) Due Organization. It is appropriately organized and validly existing under the laws of the territory of its company and will remain appropriately arranged and also existing in excellent standing and also is properly certified to do organization any place necessary to perform its obligations under this Agreement.

Title; No Liens; Silent Pleasure (Cessna Rental). (a) Title to the Airplane shall remain vested in Owner throughout the Term as well as the Aircraft will be signed up at the FAA for Lessor. Lessee will have no right, title or interest in or to the Airplane except as expressly provided herein and also shall take no action or fail to take any type of activity moderately requested by Owner that would certainly hinder the ongoing registration of the Airplane at the FAA for Lessor.

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An Event of Loss relative to any kind of engine or APU shall not, without loss of the airframe, be regarded an Event of Loss relative to the Airplane. 6 10. Termination. This Agreement may be ended: (i) quickly upon the shared approval of all events; (ii) by either celebration when the discontinuation of Robert Pittman's employment with Lessee for any type of factor; (iii) by the non-breaching celebration if an Event of Default has Full Report actually occurred as well as the breaching event has not healed within the applicable remedy period (if any) attended to in Area 14 of this Agreement; (iv) immediately upon invoice by Lessor of the Casualty Value adhering to an Event of Loss; or (v) either celebration adhering to a determination by an equally reasonable Dassault-authorized service facility that the Aircraft is harmed to the extent that it is improbable that it can be made operative within sixty (60) days.


11. Representations, Warranties and also Arrangements. Lessee as well as Owner each stand for, warrant and also concur as follows: (a) Due Organization. It is duly arranged and also validly existing under the legislations of the jurisdiction of its organization as well as will certainly stay properly organized and existing in excellent standing as well as is appropriately certified to do service anywhere needed to execute its obligations under this Agreement.

Title; No Liens; Peaceful Enjoyment. (a) Title to the Aircraft shall remain vested in Owner during the Term as well as the Airplane shall be registered at the FAA for Lessor. Lessee will have no right, title or passion in or to the Aircraft except as specifically given here and will take no activity or stop working to take any kind of action moderately requested by Lessor that would certainly impair the continued registration of the Airplane at the FAA for Owner.

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