Common use of Hangar Clause in Contracts

Hangar. c. At Closing, Million Air shall receive a credit toward payment of the Purchase Price in an amount equal to the value of all fuel, oil, counter inventories and new or yellow-tagged training aircraft parts and excluding used or obsolete parts (with appropriate documentation verifying origin and certifying air worthiness) of Alpine included in the Alpine Assets as of Closing (the "Inventory"), in exchange for which Million Air agrees to establish in favor of Alpine a credit in equivalent amount, for which Million Air agrees to provide airplane fuel to Alpine at Million Air's fueling facilities during normal business hours and subject to availability (the "Inventory Fuel Credit"). The value of the Inventory and the amount of the corresponding Inventory Fuel Credit is currently estimated at $60,000.00, and shall be determined at Closing by agreement between Alpine and Million Air. The Inventory Fuel Credit may be redeemed for airplane fuel at the cost charged to Million Air by Million Air's supplier, plus applicable taxes and fees. The Inventory Fuel Credit may be used by Alpine at Million Air's facilities in both Salt Lake City, Utah or Provo, Utah. d. Million Air shall receive a credit toward payment of the Purchase Price at Closing in the amount of One Hundred Ninety Thousand and No/100 Dollars ($190,000.00), in exchange for which Million Air agrees to establish in favor of Alpine a credit in equivalent amount, for which Million Air agrees to provide into-plane service to Alpine at Million Air's fueling facilities during normal business hours (the "Purchase Price Fueling Credit"), which may be used by Alpine at Million Air's facilities in both Salt Lake City, Utah and Provo, Utah. The Purchase Price Fueling Credit may be redeemed for into-plane fees at the rate of $.25 per gallon. If at the end of two (2) years following Closing any amount of the Purchase Price Fueling Credit is outstanding, Million Air will immediately issue a check to Alpine in the amount of the balance of the Purchase Price Fueling Credit, if any. e. Million Air shall receive a credit toward payment of the Purchase Price in the amount of Sixty Thousand and no/100 Dollars ($60,000.00), in exchange for which Million Air agrees to assign to Alpine its lease from Provo City for certain property at the Provo City Airport upon which Million Air presently maintains a Quonset building, as more particularly described on Exhibit "D" attached hereto and incorporated herein by this reference (the "Million Air Leased Property").