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Insurance policy - Cirrus Rental. (a) During the Term, Lessor will trigger to be given and also maintained in full pressure and impact, at Lessee's sole cost and also cost, a policy or policies of insurance providing the insurance coverage explained in this Section 7 covering all operations of the Airplane ("Insurance Plan"). (i) Airplane responsibility insurance coverage covering all procedures of the Aircraft, which insurance coverage will: (A) include an area stipulation sufficient to cover all Airplane procedures permitted by this Arrangement, with limitations of not less than Two Hundred Million US Dollars (US $200,000,000) per incident on a consolidated single limitation basis, covering claims for fatality, physical injury as well as residential property damages, (B) checklist Owner as well as Lessee as named insureds and list as added called insureds each of Lessee's and also Owner's associates as well as their corresponding supervisors, police officers, supervisors, workers as well as agents and also Gama Aviation, Inc.; (C) be supported to make sure that it is key and non-contributing to any kind of various other insurance policy that is readily available to any of the insureds.




(iii) The Insurance plan will contain an endorsement supplying that coverages under such Insurance coverage Plans will not be voided by any type of act or oversight of anyone, consisting of another insured under the plans; offered that there is neither authorization nor actual expertise by the insured celebration that such action would certainly void insurance coverage under the policy as well as will include a waiver of subrogation for Lessee as well as its policemans, supervisors, supervisors, employees and also agents as well as Gama Aeronautics.

All Insurance coverage Plans will offer a severability of interest/cross obligation recommendation, so regarding guarantee that the insurance will run in all respects as if a separate plan has been released covering each event insured, although underwriters' total restriction of obligation will not boost. (c) Quickly adhering to the implementation of this Agreement as well as each year thereafter, Lessor shall offer Lessee with certificates of insurance coverage as well as endorsements confirming the performance (and renewal, as appropriate) of such Insurance plan in compliance with the insurance requirements defined in this Area 7.

Restriction of Responsibility. OWNER UNDERSTANDS AND ALSO AGREES THAT THE INSURANCE PLAN ARE LESSOR'S SOLE REMEDY AGAINST LESSEE FOR ANY AND ALSO ALL LOSS OR DAMAGES TO THE AIRCRAFT AND/OR INJURY OR DEATH OF ANY GUEST AND/OR FOR ANY AS WELL AS ALL DECLARES, PROBLEMS, LOSSES, COSTS AND RESPONSIBILITIES INCLUDING, BUT NOT LIMITED TO, DIRECT OR INDIRECT LOSS OR DAMAGE TO THE AIRCRAFT, DIMINUTION IN WORTH OF THE AIRPLANE, LOSS OF REVENUE, REVENUES, EARNINGS OR SERVICE OPPORTUNITIES OR SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF THIS AGREEMENT OR BY ANY MEANS GOT IN TOUCH WITH THE AIRPLANE UNDER THIS AGREEMENT, WHETHER ON THE GROUND OR AIRBORNE, AS WELL AS THE VARIOUS OTHER DEALS CONTEMPLATED HEREBY, UNLESS SUCH CLAIMS, PROBLEMS, LOSSES, EXPENSES OR OBLIGATIONS 5 ARE SOLELY THE OUTCOME OF LESSEE'S GROSS CARELESSNESS OR WILLFUL TRANSGRESSION OR LESSOR'S FAILING TO KEEP THE INSURANCE COVERAGE REQUIRED HEREUNDER - Cirrus Rental.

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This Section 8 will survive any type of discontinuation of this Arrangement. (a) Topic to Area 8, Lessee will birth the danger of loss, damages or damage of the Airplane from the time of Extra resources shipment up until the Aircraft is returned to Lessor pursuant to this Contract.

An Event of Loss with regard to any engine or APU will not, without loss of the airframe, be considered an Event of Loss with regard to the Airplane. This Agreement may be terminated: (i) promptly upon the common consent of all events; (ii) by either party instantly upon the discontinuation of Robert Pittman's work with Lessee for any reason; (iii) by the non-breaching celebration if an Event of Default has actually happened and also the breaching celebration has actually not healed within the relevant remedy period (if any type of) offered for in Area 14 of this Contract; (iv) instantly upon receipt by Lessor of the Casualty Worth following an Event of Loss; or (v) either celebration complying with a decision by a mutually agreeable Dassault-authorized service center that the Airplane is harmed to the level that it is improbable that it can be made operative within sixty (60) days.


Representations, Service Warranties as well as Contracts. It is properly arranged as well as validly existing under the regulations of the jurisdiction of its company and will continue to be duly organized and also find here existing in excellent standing as well as is duly qualified to do organization wherever required to perform its commitments under this Agreement.

Title; No Liens; Silent Enjoyment. (a) Title to the Aircraft will remain vested in Lessor during the Term as well as the Airplane will be registered at the FAA for Owner. Lessee will have no right, title or rate of interest in or to the Airplane except as expressly supplied here and shall take no activity or fall short to take any activity fairly requested by Owner that would hinder the continued registration of the Aircraft at the FAA in the name of Lessor.

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An Occasion of Loss with respect to any type of engine or APU will not, without loss of the airframe, be considered an Event of Loss with respect to the Airplane. 6 10. Termination. This Arrangement might be terminated: (i) right away upon the common authorization of all parties; (ii) by either celebration quickly upon the termination of Robert Pittman's work with Lessee for any type of reason; (iii) by the non-breaching event if an Occasion of Default has occurred and also the breaching event has not cured within the relevant treatment duration (if any type of) attended to in Section 14 of this Agreement; (iv) automatically upon receipt by Lessor of the Casualty Worth complying with an Event of Loss; or (v) either celebration following a decision by an equally acceptable Dassault-authorized service center check my source that the Airplane is harmed to the level that it is unlikely that it can be made operative within sixty (60) days.

11. Depictions, Warranties and Contracts. Lessee as well as Owner each stand for, warrant and agree as adheres to: (a) Due Organization. It is duly arranged and validly existing under the regulations of the jurisdiction of its organization as well as will certainly remain appropriately arranged and also existing in good standing and is properly certified to do business anywhere essential to perform its obligations under this Contract.

Title; No Liens; Peaceful Pleasure. (a) Title to the Airplane shall remain vested in Owner throughout the Term and the Airplane shall be registered at the FAA for Lessor. Lessee will have no right, title or passion in or to the Airplane other than as specifically supplied herein and also shall take no activity or fall short to take any type of action moderately requested by Owner that would certainly impair the ongoing registration of the Airplane at the FAA in the name of Owner.

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