Common use of Customer Insurance Clause in Contracts

Customer Insurance. If StandardAero is providing Services on Customer’s Equipment, Customer shall, at its expense, procure, maintain and keep in full force and effect “all risks” Hull Physical Damage and Spares insurance, including War and Allied Perils, to protect the value of the Equipment and/or Rental Asset. Additionally, Customer shall, at its expense, for the same duration, procure, maintain and keep in full force and effect an aviation general liability and aircraft liability policy with minimum limits of $200,000,000 USD per occurrence, and will name StandardAero as an additional insured. All Customer policies will be endorsed to waive any and all rights of subrogation against StandardAero and include a breach of warranty clause in favor of StandardAero. Before Services commence, Customer will provide StandardAero with Certificates of Insurance evidencing the above insurance coverages and providing that the insurance may not be cancelled without thirty (30) days prior written notice to StandardAero. Customer acknowledges that StandardAero is not liable for loss of Customer’s aircraft or other damage to property, personal injury or death of any person, while the aircraft is in flight unless such occurrence is solely caused by a product or component improperly repaired by StandardAero under the terms of this Agreement. For purposes of this clause, the term "in flight" is defined as the time period commencing when the aircraft moves forward in taking off or attempting to take-off for air transit, while in the air and until the aircraft comes to rest after landing or, the landing run having been safely completed, and power is applied for taxiing. Furthermore, StandardAero shall not be liable for damage to the aircraft and/or Equipment while in the care, custody or control of StandardAero if such damage was a result of an Act of God or reasons beyond the control of StandardAero unless such damage is due to the negligence or misconduct of StandardAero.

Customer Insurance. If StandardAero is providing Services on Customer’s Equipment, Customer shall, at its expense, procure, maintain and keep in full force and effect “all risks” Hull Physical Damage and Spares insurance, including War and Allied Perils, to protect the value of the Equipment and/or Rental Asset. Additionally, Customer shall, at its expense, for the same duration, procure, maintain and keep in full force and effect an aviation general liability and aircraft liability policy with minimum limits of $200,000,000 USD per occurrence, and will name StandardAero as an additional insured. All Customer policies will be endorsed to waive any and all rights of subrogation against StandardAero and include a breach of warranty clause in favor of StandardAero. Before Services commence, Customer will provide StandardAero with Certificates of Insurance evidencing the above insurance coverages and providing that the insurance may not be cancelled without thirty (30) days prior written notice to StandardAero. Customer acknowledges that StandardAero is not liable for loss of Customer’s aircraft or other damage to property, personal injury or death of any person, while the aircraft is in flight unless such occurrence is solely caused by a product or component improperly repaired by StandardAero under the terms of this Agreement. For purposes of this clause, the term "in flight" is defined as the time period commencing when the aircraft moves forward in taking off or attempting to take-take- off for air transit, while in the air and until the aircraft comes to rest after landing or, the landing run having been safely completed, and power is applied for taxiing. Furthermore, StandardAero shall not be liable for damage to the aircraft and/or Equipment while in the care, custody or control of StandardAero if such damage was a result of an Act of God or reasons beyond the control of StandardAero unless such damage is due to the negligence or misconduct of StandardAero.

Customer Insurance. If StandardAero is providing Services on Customer’s Equipment, Customer shall, at its expense, procure, maintain and keep in full force and effect “all risks” Hull Physical Damage and Spares insurance, including War and Allied Perils, to protect the value of the Equipment and/or Rental Asset. Additionally, Customer shall, at its expense, for the same duration, procure, maintain and keep in full force and effect an aviation general liability and aircraft liability policy with minimum limits of $200,000,000 USD per occurrence, and will name StandardAero as an additional insured. All Customer policies will be endorsed to waive any and all rights of subrogation against StandardAero and include a breach of warranty clause in favor of StandardAero. Before Services commence, Customer will provide StandardAero with Certificates of Insurance evidencing the above insurance coverages and providing that the insurance may not be cancelled without thirty (30) days prior written notice to StandardAero. Customer acknowledges that StandardAero is not liable for loss of Customer’s aircraft or other damage to property, personal injury or death of any person, while the aircraft is in flight unless such occurrence is solely caused by a product or component improperly repaired by StandardAero under the terms of this Agreement. For purposes of this clause, the term "in flight" is defined as the time period commencing when the aircraft moves forward in taking off or attempting to take-take- off for air transit, while in the air and until the aircraft comes to rest after landing or, the landing run having been safely completed, and power is applied for taxiing. Furthermore, StandardAero shall not be liable for damage to the aircraft and/or Equipment while in the care, custody or control of StandardAero if such damage was a result of an Act of God or reasons beyond the control of StandardAero unless such damage is due to the negligence or misconduct of StandardAero.