Common use of Operational Expenses Clause in Contracts

Operational Expenses. No charge, assessment or fee is to be made by either Party for its respective Aircraft use. Quarterly, the parties shall direct the aircraft manager of each Aircraft to calculate and provide a written report to each party showing the number of hours operated under this Agreement (i) during the most recently ended quarter, (ii) for the then- current calendar year-to-date and (iii) during the Term of this Agreement. If in any calendar year one party has leased the other party’s Aircraft for a greater number of hours than the other party, those hours will be carried forward into the subsequent calendar year or years of this Agreement for purposes of this reconciliation.

Operational Expenses. No charge, assessment or fee is to be made by either Party for its respective Aircraft use. Quarterly, the parties shall direct the aircraft manager of each Aircraft to calculate and provide a written report to each party showing the number of hours operated under this Agreement (i) during the most recently ended quarter, (ii) for the then- then-current calendar year-to-date and (iii) during the Term of this Agreement. If in any calendar year one party has leased the other party’s Aircraft for a greater number of hours than the other party, those hours will be carried forward into the subsequent calendar year or years of this Agreement for purposes of this reconciliation.

Operational Expenses. No charge, assessment or fee is to be made by either Party for its respective Aircraft use. Quarterly, the parties shall direct the aircraft manager of each Aircraft to calculate and provide a written report to each party showing the number of hours operated under this Agreement (i) during the most recently ended quarter, (ii) for the then- then-current calendar year-to-date and (iii) during the Term of this Agreement. If in any calendar year one party has leased the other party’s Aircraft for a greater number of hours than that the other party, those hours will be carried forward into the subsequent next calendar year or years of this Agreement for purposes of this reconciliation.

Operational Expenses. No charge, assessment or fee is to be made by either Party for its respective Aircraft use. Quarterly, the parties shall direct the aircraft manager of each Aircraft to calculate and provide a written report to each party showing the number of hours operated under this Agreement (i) during the most recently ended quarter, (ii) for the then- then-current calendar year-to-date and (iii) during the Term of this Agreement. If in any calendar year one party has leased the other party’s Aircraft for a greater number of hours than the other party, those hours will be carried forward into the subsequent next calendar year or years of this Agreement for purposes of this reconciliation.