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Insurance policy - Cessna Rental. (a) During the Term, Lessor shall trigger to be offered as well as maintained completely force and effect, at Lessee's sole expense as well as expenditure, a policy or policies of insurance coverage giving the coverage defined in this Section 7 covering all procedures of the Aircraft ("Insurance Plan"). (i) Aircraft responsibility insurance coverage covering all operations of the Aircraft, which protection shall: (A) include an area provision sufficient to cover all Airplane procedures allowed by this Agreement, with restrictions of not much less than Two Hundred Million US Dollars (United States $200,000,000) per incident on a mixed solitary restriction basis, covering claims for death, bodily injury and building damages, (B) checklist Lessor and Lessee as called insureds and also checklist as additional called insureds each of Lessee's and Lessor's affiliates and their respective supervisors, officers, managers, employees as well as agents and also Gama Air travel, Inc.; (C) be backed so that it is key as well as non-contributing to any other insurance that is available to any one of the insureds.

(iii) The Insurance Policies shall include an endorsement providing that protections under such Insurance plan shall not be voided by any act or oversight of anybody, including another guaranteed under the policies; supplied that there is neither approval neither actual expertise by the insured celebration that such activity would invalidate coverage under the policy and shall consist of a waiver of subrogation for Lessee as well as its policemans, directors, supervisors, staff members as well as agents and also Gama Aeronautics.

All Insurance coverage shall offer a severability of interest/cross liability endorsement, so regarding guarantee that the insurance coverage shall run in all respects as if a separate policy has actually been provided covering each event guaranteed, although underwriters' total limitation of liability will certainly not raise. (c) Immediately adhering to the execution of this Agreement as well as yearly afterwards, Owner will provide Lessee with certifications of insurance policy as well as recommendations showing the effectiveness (as well as renewal, as suitable) of such Insurance Plans in conformity with the insurance policy demands defined in this Section 7.



Restriction of Obligation. LESSOR UNDERSTANDS AND AGREES THAT THE INSURANCE POLICIES ARE LESSOR'S SOLE SOLUTION AGAINST LESSEE FOR ANY AND ALL LOSS OR DAMAGE TO THE AIRPLANE AND/OR INJURY OR DEATH OF ANY GUEST AND/OR FOR ANY AND ALL CLAIMS, PROBLEMS, LOSSES, EXPENSES AS WELL AS OBLIGATIONS INCLUDING, BUT NOT LIMITED TO, DIRECT OR INDIRECT LOSS OR DAMAGES TO THE AIRCRAFT, DECREASE IN VALUE OF THE AIRCRAFT, LOSS OF EARNINGS, REVENUES, PROFITS OR COMPANY OPPORTUNITIES OR SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS AGREEMENT OR AT ALL LINKED WITH THE AIRPLANE UNDER THIS AGREEMENT, WHETHER ON THE GROUND OR AIRBORNE, AS WELL AS THE OTHER TRANSACTIONS CONTEMPLATED HEREBY, UNLESS SUCH CLAIMS, PROBLEMS, LOSSES, EXPENDITURES OR RESPONSIBILITIES 5 ARE SOLELY THE OUTCOME OF LESSEE'S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OR LESSOR'S FAILING TO MAINTAIN THE INSURANCE COVERAGE PLANS REQUIRED HEREUNDER.

Cessna Rental - Truths

This Area 8 shall survive any type of discontinuation of this Arrangement. 9. Risk of Loss; Loss or Damage. (a) Based On Area 8, Lessee shall bear the risk of loss, damage or destruction of the Aircraft from the moment of distribution until the Aircraft is gone back to Lessor according to this Agreement.



An Event of Loss with regard to any type of engine or APU shall not, without loss of the airframe, be deemed an Event of Loss with regard to the Aircraft (Cessna Rental). 6 10. Termination. This Agreement might be ended: (i) immediately upon the common authorization of all celebrations; (ii) by either celebration right away upon the termination of Robert Pittman's employment with Lessee for any kind of factor; (iii) by the non-breaching event if an Event of Default has actually happened and the breaching event has not healed within the appropriate cure duration (if any) given for in Section 14 of this Agreement; (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 solution facility that important source the Airplane is harmed to the level that it is improbable that it can be made operative within sixty (60) days.

Depictions, Guarantees as well as Arrangements. It is properly organized and also validly existing under the laws of the territory of its organization as well as will certainly continue to be duly arranged as well as existing in great standing and also is properly certified to do business anywhere needed to do its obligations under this Agreement.

Title; No Liens; Peaceful Satisfaction (Cessna Rental). (a) Title to the Airplane will remain vested in Lessor during the Term as well as the Aircraft will be signed up at the FAA for Lessor. Lessee shall have no right, title or passion in or to the Airplane except as expressly provided here as well as shall take no activity or fall short to take any type of action moderately see here now requested by Owner that would impair the ongoing registration of the Airplane at the FAA in the name of Owner.

Cessna Rental - Truths

An Occasion of Loss relative to any type of engine or APU will not, without loss of the airframe, be regarded an Occasion of Loss relative to the Airplane. 6 10. Termination. This Arrangement may be ended: (i) right away upon the shared consent of all celebrations; (ii) by either party when the termination of Robert Pittman's employment with Lessee for any kind of reason; (iii) by the non-breaching party if an Occasion of Default has actually occurred and the breaching event has actually not treated within the suitable remedy duration (if any kind of) given for in Area 14 of this Contract; (iv) instantly upon receipt by Lessor of the Casualty Value adhering to an Event of Loss; or (v) either celebration complying with a determination by an equally agreeable Dassault-authorized service center go to this site that the Airplane is harmed to the level that it is improbable that it can be made operative within sixty (60) days.


Representations, Warranties and also Contracts. It is duly arranged as well as validly existing under the legislations of the jurisdiction of its company as well as will certainly stay duly arranged and existing in great standing and is properly qualified to do business anywhere necessary to perform its obligations under this Arrangement.

Title; No Liens; Peaceful Enjoyment. (a) Title to the Aircraft will continue to be vested in Owner throughout the Term and also 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 Airplane other than as specifically provided here and will take no action or fall short to take any action moderately requested by Owner that would harm the continued registration of the Airplane at the FAA for Lessor.

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