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Insurance coverage - Cessna Rental. (a) During the Term, Owner shall trigger to be provided as well as maintained completely pressure as well as effect, at Lessee's single expense as well as cost, a plan or policies of insurance coverage giving the protection described in this Section 7 covering all procedures of the Airplane ("Insurance Coverage"). (i) Aircraft responsibility insurance coverage covering all procedures of the Aircraft, which protection will: (A) consist of a region arrangement sufficient to cover all Airplane operations allowed by this Contract, with restrictions of not much less than 2 Hundred Million United States Dollars (US $200,000,000) per event on a consolidated solitary restriction basis, covering insurance claims for death, physical injury as well as residential property damages, (B) listing Owner and also Lessee as called insureds and also listing as added named insureds each of Lessee's as well as Lessor's affiliates as well as their respective directors, police officers, supervisors, staff members and agents as well as Gama Air travel, Inc.; (C) be backed to ensure that it is main as well as non-contributing to any type of various other insurance that is readily available to any of the insureds.

(iii) The Insurance Plans shall consist of an endorsement providing that insurance coverages under such Insurance plan shall not be nullified by any kind of act or neglect of any individual, consisting of an additional guaranteed under the plans; supplied that there is neither consent neither real expertise by the insured event that such action would certainly invalidate coverage under the plan as well as shall consist of a waiver of subrogation in support of Lessee as well as its police officers, directors, managers, workers and representatives and Gama Air travel.

All Insurance coverage shall supply for a severability of interest/cross obligation recommendation, so as to make sure that the insurance policy shall run throughout as if a different policy has actually been provided covering each event guaranteed, although experts' overall limit of responsibility will certainly not enhance. (c) Without delay following the implementation of this Agreement and also yearly afterwards, Lessor shall offer Lessee with certificates of insurance and also recommendations confirming the effectiveness (and revival, as suitable) of such Insurance plan in compliance with the insurance requirements defined in this Area 7.



Constraint of Liability. OWNER UNDERSTANDS AND AGREES THAT THE INSURANCE COVERAGE POLICIES ARE OWNER'S SOLE TREATMENT AGAINST LESSEE FOR ANY AND ALL LOSS OR DAMAGES TO THE AIRPLANE AND/OR INJURY OR DEATH OF ANY PASSENGER AND/OR FOR ANY AND ALSO ALL CLAIMS, DAMAGES, LOSSES, COSTS AND ALSO RESPONSIBILITIES INCLUDING, BUT NOT LIMITED TO, DIRECT OR INDIRECT LOSS OR DAMAGES TO THE AIRPLANE, DECREASE IN WORTH OF THE AIRPLANE, LOSS OF INCOME, REVENUES, PROFITS OR ORGANIZATION OPPORTUNITIES OR SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS CONTRACT OR IN ANY WAY GOT IN TOUCH WITH THE AIRCRAFT UNDER THIS CONTRACT, WHETHER ON THE GROUND OR AIRBORNE, AND THE VARIOUS OTHER DEALS CONSIDERED HEREBY, UNLESS SUCH DECLARES, PROBLEMS, LOSSES, EXPENDITURES OR RESPONSIBILITIES 5 ARE SOLELY THE RESULT OF LESSEE'S GROSS OVERSIGHT OR WILLFUL MISCONDUCT OR OWNER'S FAILING TO MAINTAIN THE INSURANCE COVERAGE REQUIRED HEREUNDER.

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



An Occasion 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) right away upon the common approval of all parties; (ii) by either celebration immediately upon the discontinuation of Robert Pittman's employment with Lessee for any kind of reason; (iii) by the non-breaching celebration if an Occasion of Default has taken place and the breaching event has not cured within the relevant remedy duration (if any) offered for in Area 14 of this Agreement; (iv) instantly upon invoice by Owner of the Casualty Value complying with an Event of Loss; or (v) either party complying with a resolution by a mutually acceptable Dassault-authorized solution center that the Airplane is damaged to the degree that it is unlikely that it can be made operative within sixty (60) days.

11. Representations, Guarantees and also Arrangements. Lessee and also Lessor each represent, call for and also concur as follows: (a) Due Company. It is appropriately arranged and also validly existing see this under the regulations of the jurisdiction of its organization and will certainly remain duly organized and existing in great standing as well as is appropriately certified to do business wherever required to perform its responsibilities under this Contract.

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

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An Event of Loss with regard to any engine or APU will not, without loss of the airframe, be considered an Occasion of Loss with regard to the Airplane. This Contract may be ended: (i) right away upon the mutual permission of all events; (ii) by either celebration immediately upon the termination of Robert Pittman's work with Lessee for any kind of factor; (iii) by the non-breaching event if an Event of Default has actually happened and the breaching party has not healed within the appropriate cure period (if any type of) supplied for in Area 14 of this Contract; (iv) instantly upon invoice by Owner of the Casualty Value following an Occasion of Loss; or (v) either party complying with a resolution by a mutually reasonable Dassault-authorized solution center that the Aircraft is harmed to the degree that it is unlikely that it can be made operative within sixty (60) anchor days.


Depictions, Warranties and Arrangements. It is appropriately arranged as well as validly existing under the laws of the territory of its company and will certainly remain properly organized and also existing in great standing and also is appropriately qualified to do organization wherever needed to do its responsibilities under this Contract.

Title; No Liens; Quiet Satisfaction. (a) Title to the Aircraft will continue to be vested in Lessor throughout the Term and the Aircraft will be registered at the FAA in the name of Owner. Lessee will have no right, go right here title or rate of interest in or to the Airplane except as expressly given herein and shall take no activity or fail to take any type of activity reasonably requested by Owner that would harm the ongoing enrollment of the Aircraft at the FAA for Owner.

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