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Insurance - Cessna Rental. (a) Throughout the Term, Owner will trigger to be provided as well as maintained completely pressure and also impact, at Lessee's single expense and also expense, a plan or policies of insurance policy supplying the coverage explained in this Section 7 covering all operations of the Airplane ("Insurance Plan"). (i) Aircraft obligation insurance covering all operations of the Airplane, which insurance coverage shall: (A) consist of an area provision sufficient to cover all Aircraft procedures allowed by this Arrangement, with limitations of not less than Two Hundred Million United States Dollars (United States $200,000,000) per occurrence on a combined solitary limitation basis, covering cases for fatality, bodily injury and residential or commercial property damage, (B) list Owner and also Lessee as named insureds and listing as extra called insureds each of Lessee's and Lessor's associates and also their respective directors, officers, managers, staff members and also representatives and Gama Aviation, Inc.; (C) be backed to make sure that it is main and non-contributing to any other insurance coverage that is offered to any one of the insureds.

(iii) The Insurance coverage will have a recommendation giving that insurance coverages under such Insurance plan shall not be voided by any act or carelessness of any person, including another insured under the plans; given that there is neither authorization neither real understanding by the insured celebration that such action would void insurance coverage under the plan as well as shall include a waiver of subrogation in favor of Lessee and also its police officers, supervisors, managers, employees and also representatives and also Gama Aeronautics.

All Insurance plan shall offer a severability of interest/cross obligation endorsement, so regarding make certain that the insurance coverage shall operate throughout as if a separate policy has been released covering each celebration insured, although underwriters' general limit of responsibility will not increase. (c) Without delay complying with the execution of this Agreement and also every year thereafter, Owner shall give Lessee with certifications of insurance policy as well as recommendations confirming the effectiveness (as well as renewal, as relevant) of such Insurance policy Policies in conformity with the insurance needs specified in this Area 7.



Limitation of Liability. OWNER UNDERSTANDS AS WELL AS AGREES THAT THE INSURANCE COVERAGE ARE OWNER'S SOLE TREATMENT 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 ALL ASSERTS, DAMAGES, LOSSES, EXPENSES 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 ARRANGEMENT OR AT ALL GOT IN TOUCH WITH THE AIRPLANE UNDER THIS AGREEMENT, WHETHER ON THE GROUND OR AIRBORNE, AND THE VARIOUS OTHER DEALS CONTEMPLATED HEREBY, UNLESS SUCH ASSERTS, DAMAGES, LOSSES, EXPENDITURES OR LIABILITIES 5 ARE SOLELY THE OUTCOME OF LESSEE'S GROSS CARELESSNESS OR WILLFUL MISCONDUCT OR OWNER'S FAILURE TO KEEP THE INSURANCE COVERAGE POLICIES REQUIRED HEREUNDER.

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This Area 8 will endure any kind of termination of this Contract. (a) Subject to Area 8, Lessee will birth the threat of loss, damages or devastation of the Aircraft from the time of delivery until the Aircraft is returned to Lessor pursuant to this Contract.



An Event of Loss relative to any kind of engine or APU will not, without loss of the airframe, be deemed an Event of Loss with regard to the Aircraft (Cessna Rental). 6 10. Termination. This Contract might be ended: (i) when the common consent of all events; (ii) by either party quickly upon the termination of Robert Pittman's employment with Lessee for any type of reason; (iii) by the non-breaching celebration if an Occasion of Default has happened and also the breaching event has actually not healed within the applicable cure duration (if any) supplied for in Area 14 of this Contract; (iv) immediately upon invoice by Owner of the Casualty Worth complying with an Occasion of Loss; or (v) either event adhering to a resolution by an equally reasonable Dassault-authorized solution center that the Airplane is harmed to the level that it is unlikely that it can be made operative within sixty (60) days.

Depictions, Warranties as well as Arrangements. It is properly arranged and validly existing under important site the laws of the jurisdiction of its company as well as will remain duly organized and also existing in great standing and also is duly qualified to do business anywhere required to do its responsibilities under this Agreement.

Title; No Liens; Quiet Enjoyment (Cessna Rental). (a) Title to the Airplane shall continue to be vested in Owner throughout the Term and also the Airplane shall be registered at the FAA in the name of Owner. Lessee will have no right, title or interest in or to the Airplane except as specifically provided herein as well as will take no activity or stop working to take any action reasonably requested by Owner that would hinder the continued registration of the Airplane at the FAA for Owner.

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An Occasion of Loss with regard to any type of engine or APU will not, without loss of the airframe, be deemed an Event of Loss with regard to the Airplane. 6 10. Discontinuation. This Agreement may be terminated: (i) immediately upon the common consent additional info of all celebrations; (ii) by either celebration immediately upon the termination of Robert Pittman's employment with Lessee for any type of factor; (iii) by the non-breaching party if an Event of Default has happened as well as the breaching celebration has actually not treated within the relevant cure period (if any) offered for in Section 14 of this Contract; (iv) immediately upon invoice by Owner of the Casualty Worth adhering to an Occasion of Loss; or (v) either party following a resolution by a mutually agreeable Dassault-authorized solution center that the Airplane is harmed to the degree that it is unlikely that it can be made operative within sixty (60) days.


11. Representations, Guarantees and Arrangements. Lessee as well as Owner each stand for, necessitate as well as agree as adheres to: (a) Due Company. informative post It is duly organized as well as validly existing under the laws of the territory of its company as well as will stay duly organized as well as existing in good standing as well as is properly qualified to do business wherever necessary to perform its responsibilities under this Contract.

Title; No Liens; Silent Pleasure. (a) Title to the Airplane shall remain vested in Lessor throughout the Term as well as the Aircraft shall be signed up at the FAA for Lessor. Lessee shall have no right, title or interest in or to the Aircraft other than as specifically provided herein as well as will take no activity or fail to take any type of activity moderately asked for by Lessor that would hinder the ongoing enrollment of the Airplane at the FAA in the name of Lessor.

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