Common use of Hangarage Clause in Contracts

Hangarage. MSG will provide Clients with appropriate hangar space (including office and shop space, internet access and access to telephones) at the Aircraft’s Operating Base (as specified in Section V of the Specific Terms) for the Aircraft. Clients shall be responsible for their pro rata share of the total cost of MSG’s hangar rent and hangar maintenance/janitorial costs (including any taxes and other fees payable under the hangar lease, such as utilities) based on the square footage required for all of Clients’ aircraft (whether or not such aircraft is under management by MSG) compared to the total square footage of all aircraft of Clients, MSG and clients of Related Agreements, for hangarage maintained by MSG at the Operating Base (the “Hangar Fee”). To the extent MSG’s rent and/or other lease payments increase or decrease, the Hangar Fee shall be increased or decreased by the same percentage amount. In the event there is a change in circumstances relating to hangarage, the parties agree negotiate in good faith to readjust the total cost to make such cost equitable to all parties.