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Document Preview Aircraft Lease Agreement |
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Title: |
Aircraft Lease Agreement |
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Entities: |
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Date: |
2004 |
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Size: |
Preview shows 8KB of 125KB total |
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Price: |
$65 |
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ID: |
#301318 |
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*AIRC1998*
AIRCRAFT LEASE AGREEMENT
dated as of ______________("Agreement")
This Agreement (together with all supplements, annexes, exhibits and schedules
hereto hereinafter referred to as the "LEASE") is between AVN AIR, LLC, with an
office at 44 OLD RIDGEBURY ROAD, DANBURY, CONNECTICUT 06810 (together with its
successors and assigns, if any "LESSOR") and MHS CONSULTING CORPORATION, a
corporation organized and existing under the laws of the State of Wisconsin with
its mailing address and chief place of business at 7711 CARONDELET AVENUE, SUITE
800, ST. LOUIS, MO 63105 (hereinafter called "LESSEE").
1. LEASING:
(a)Subject to the terms and conditions set forth below, Lessor agrees
to lease to Lessee, and Lessee agrees to lease from Lessor, the aircraft,
including the airframe, engines, and all appurtenant equipment (together
hereinafter the "AIRCRAFT") described in Annex A.
(b)Lessor shall purchase the Aircraft from the manufacturer or supplier
thereof ("SUPPLIER") and lease it to Lessee if on or before the Last Delivery
Date (specified in Annex B) Lessor receives each of the following documents in
form and substance reasonably satisfactory to Lessor: (i) a copy of this Lease
executed by Lessee, (ii) unless Lessor shall have delivered its purchase order
for the Aircraft or received a bill of sale for the Aircraft in the name of
Lessor (and in form and substance satisfactory to Lessor), the Purchase
Document(s) Assignment and Consent in the form of Annex C, with copies of the
purchase order or other purchase documents attached thereto; (iii) copies of
insurance policies or such other evidence of insurance which complies with the
requirements of Section 10, (iv) evidence that the Aircraft has been duly
certified as to type and airworthiness by the Federal Aviation Administration
("FAA"); (v) evidence that Insured Aircraft Title Service, or such other escrow
agent reasonable acceptable to Lessor, has received in escrow the executed bill
of sale and AC Form 8050-1 Aircraft Registration Form (except for the pink copy
which shall be available to be placed on the Aircraft upon acceptance thereof),
and an executed duplicate of this Lease all in proper form for filing with the
FAA; (vi) a copy of a resolution of Lessee's board of directors authorizing this
Lease in the form of Annex D; (vii) a completed inspection and/or survey with
respect to the Aircraft in accordance with the requirements set forth in the
Certificate of Acceptance; and (viii) such other documents as Lessor may
reasonably request. Lessor's obligation to lease the Aircraft hereunder is
further conditioned upon (1) the cost to Lessor of the acquisition of the
Aircraft not exceeding the Capitalized Lessor's Cost stated on Annex A; (2) upon
delivery of the Aircraft, Lessee's execution and delivery to Lessor of a
Certificate of Acceptance in the form of Annex E; and (3) successful filing of
all necessary documents with the FAA.
(c)Lessor hereby appoints Lessee its agent for inspection and
acceptance of the Aircraft from the Supplier. Once the Certificate of Acceptance
has been signed, and the Commencement Date has occurred, the Aircraft shall be
deemed to have been delivered to, and accepted by, Lessee for lease hereunder,
{PAGE}
2. TERM, RENT AND PAYMENT:
(a) The rent ("RENT") payable under this Lease and Lessee's right to
use the Aircraft shall commence on the date Insured Aircraft Title Service files
with the FAA the executed bill of sale and Aircraft Registration Form and Lessee
executes the Certificate of Acceptance ("COMMENCEMENT DATE"). The term ("TERM")
of this Lease shall commence on the Commencement Date and shall continue, unless
earlier terminated pursuant to the provisions of this Lease, until and including
the Expiration Date stated in Annex B. If any Term is extended or renewed, the
word "Term" shall be deemed to refer to all extended or renewal Terms, and all
provisions of this Lease shall apply during any such extension or renewal Terms,
except as may be otherwise specifically provided in writing.
(b) Rent shall be paid to Lessor by Lessee at its address stated above,
except as otherwise directed by Lessor. Rent payments shall be in the amount,
payable at such intervals and due in accordance with the provisions of Annex B.
(Each payment of Rent is hereinafter referred to as a "RENT PAYMENT".) If one or
more Advance Rent is payable, such Advance Rent shall be (i) set forth on Annex
B and due in accordance with the provisions of Annex B, and (ii) when received
by Lessor, applied to the first Basic Term for Rent Payment as set forth on
Annex B and the balance, if any, to the final Rent Payment(s), in inverse order
of maturity. In no event shall any Advance Rent or any other Rent Payment be
refunded to Lessee. If Rent is hot paid within ten (10) days of its due date,
Lessee agrees to pay a late charge of four cents ($.04) per dollar on, and in
addition to, the amount of such Rent but not exceeding the lawful maximum, if
any.
3. RENT ADJUSTMENT:
Intentionally left blank
4. TAXES AND FEES: (a) If permitted by law, Lessee shall report and pay
promptly all taxes, fees and assessments due, imposed, assessed or levied
against the Aircraft (or purchase, ownership, delivery, leasing, possession, use
or operation thereof), this Agreement (or any rents or receipts hereunder),
Lessor or Lessee, by any domestic or foreign governmental entity or taxing
authority during or related to the term of this Agreement, including, without
limitation, all license and registration fees, and all sales, use, personal
property, excise, gross receipts, stamp, value added, custom duties, landing
fees, airport charges, navigation service charges, route navigation charges or
other taxes, imposts, duties and charges, together with any penalties, fines or
interest thereon (collectively "TAXES"). Notwithstanding the foregoing, Lessee
shall have no liability for Taxes imposed by any domestic or foreign
governmental entity or political subdivision thereof which are on or measured by
the net income, capital, net worth or franchise of Lessor or similar conduct of
business taxes, except as provided in Section 14(c) hereof. Lessee shall (i)
reimburse Lessor upon receipt of written request for reimbursement for any Taxes
charged to or assessed against Lessor, (ii) on request of Lessor, submit to
Lessor written evidence of Lessee's payment of Taxes, (iii) on all tax reports
or returns show Lessor as the owner of the Aircraft, and (iv) send a copy to
Lessor of any tax reports or returns showing Lessor as the owner.
Notwithstanding anything in this Lease to the contrary, Lessee shall have no
liability with respect to: Taxes imposed as a result of the transfer or other
disposition of the Aircraft by Lessor to anyone other than Lessee; Lessor's
gross negligence or willful misconduct; any act or omission of Lessor in breach
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