Aircraft definition
Examples of Aircraft in a sentence
EJM shall work with Customer and the third-party service provider to ensure that the third-party pilots work under a safety-oriented program meeting all applicable regulatory and EJM requirements as is appropriate to the Aircraft.
Customer acknowledges and agrees that it will exercise operational control authority and responsibility over all flight operations conducted pursuant to the Dry Lease using the Aircraft, except when placed in another party’s possession pursuant to an agreement identified in Item 7.h of the General Schedule.
Any and all parts, materials or other items purchased by Customer and made a permanent part of the Aircraft or for which EJM is reimbursed by Customer or through funds set forth herein, including any such items held as inventory, shall be the property of Customer and any such parts, materials or items shall be delivered to Customer immediately upon termination of this Agreement.
The Parties agree that, during the Term of this Agreement and for two (2) years thereafter (or such longer time as may be required by law), they will each preserve, or cause to be preserved, their respective financial and maintenance records relating to the Aircraft.
However, EJM shall collect federal excise tax of 7.5% on payment for monthly management fees, flight activity charges, pass through charges and charges for other support services that are remitted by anyone other than (1) the registered owner of the Aircraft, (2) the lessee of the Aircraft, provided that the lease term is more than 31 days; or (3) an agent of the registered owner or lessee of the Aircraft under state law.