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Aircraft Operating Lease Agreement

Aircraft Operating Lease Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Aircraft Operating Lease Agreement

"I need an Aircraft Operating Lease Agreement for a Boeing 787 Dreamliner to be leased to a UAE-based commercial airline, with delivery scheduled for March 2025, including specific maintenance reserve provisions and sublease rights."

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Document background
The Aircraft Operating Lease Agreement is a crucial document used in the UAE aviation sector when one party (lessor) agrees to lease an aircraft to another party (lessee) for operational purposes while retaining ownership. This agreement is essential for airlines, private operators, and aviation businesses operating in or from the UAE, requiring compliance with UAE Civil Aviation regulations and the General Civil Aviation Authority (GCAA) requirements. The document covers all aspects of the lease relationship including financial terms, operational requirements, maintenance obligations, insurance requirements, and specific UAE regulatory compliance matters. It's particularly important in the UAE market where aircraft leasing is a common practice for fleet expansion and operational flexibility. The agreement must conform to UAE law while often incorporating international aviation standards and practices.
Suggested Sections

1. Parties: Identification of lessor and lessee with full legal names and addresses

2. Background: Context of the lease arrangement and brief description of the aircraft

3. Definitions: Comprehensive definitions of terms used throughout the agreement

4. Aircraft Description: Detailed description of the aircraft, engines, and parts

5. Lease Term and Delivery: Duration of lease, delivery conditions, and acceptance procedures

6. Rent and Payments: Rental amounts, payment schedules, and payment methods

7. Security Deposit: Terms and conditions of the security deposit or other financial security

8. Conditions Precedent: Prerequisites for lease effectiveness and aircraft delivery

9. Registration and Title: Requirements for aircraft registration and ownership rights

10. Operations and Maintenance: Operating conditions, maintenance requirements, and technical obligations

11. Insurance: Required insurance coverage and related obligations

12. Representations and Warranties: Statements of fact and assurances from both parties

13. Events of Default: Circumstances constituting default and consequences

14. Indemnities: Mutual indemnification obligations and liability provisions

15. Redelivery: Aircraft return conditions and procedures

16. Governing Law and Jurisdiction: Choice of UAE law and dispute resolution provisions

17. Miscellaneous: Standard boilerplate provisions including notices, amendments, and severability

Optional Sections

1. Sublease Provisions: Include when sublease rights are to be granted to the lessee

2. Tax Provisions: Detailed tax provisions when dealing with cross-border leasing or specific tax structures

3. Cape Town Convention Provisions: Specific provisions when the aircraft is registered under the International Registry

4. Step-In Rights: Include when there are financiers requiring direct rights under the lease

5. Quiet Enjoyment: Include when there are multiple financiers or head-lessors

6. State Immunity Waiver: Include when one party is a government entity

7. Sharia Compliance: Include when the transaction needs to be Sharia-compliant

8. Export Provisions: Include when the aircraft may need to be exported from the UAE

Suggested Schedules

1. Aircraft Specifications: Detailed technical specifications of the aircraft

2. Delivery Conditions: Specific conditions and requirements for aircraft delivery

3. Redelivery Conditions: Detailed requirements for aircraft return condition

4. Rent Payment Schedule: Detailed payment terms and schedules

5. Insurance Requirements: Specific insurance requirements and minimum coverage

6. Maintenance Reserve Payment Terms: Schedule of maintenance reserve payments and calculations

7. Form of Delivery Acceptance Certificate: Standard form for accepting aircraft delivery

8. Form of Redelivery Acceptance Certificate: Standard form for accepting aircraft redelivery

9. Permitted Sublessee Requirements: Criteria and conditions for acceptable sublessees

10. Required Documentation: List of technical and legal documents to be maintained

11. Power of Attorney: Standard form of power of attorney for aircraft registration/deregistration

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Acceptance Certificate
Additional Rent
Airframe
Aircraft
Aircraft Documents
Airworthiness Directive
Approved Maintenance Program
Aviation Authority
Base Rent
Business Day
Cape Town Convention
Certificate of Airworthiness
Delivery Date
Delivery Location
Engine
Event of Default
Export Control Laws
Final Inspection
Flight Hour
GCAA
Governing Law
Insurance Requirements
Landing Gear
Lease Period
Lease Term
Lessee
Lessor
Maintenance Program
Maintenance Records
Manufacturer
Operating License
Parts
Permitted Lien
Redelivery Conditions
Redelivery Date
Redelivery Location
Registration Requirements
Rental Payment Date
Security Deposit
Scheduled Delivery Date
Technical Acceptance Certificate
Technical Records
Total Loss
UAE
Warranty Rights
Clauses
Delivery
Acceptance
Rent Payment
Security Deposit
Registration
Insurance
Maintenance
Operations
Technical Requirements
Redelivery
Default
Termination
Force Majeure
Assignment
Subleasing
Indemnification
Liability
Title
Quiet Enjoyment
Representations
Warranties
Conditions Precedent
Documentation
Records
Inspection Rights
Payment Terms
Tax
Governing Law
Dispute Resolution
Notices
Confidentiality
Export Control
Regulatory Compliance
Environmental Compliance
Safety Standards
Maintenance Reserves
Aircraft Registration
Liens
Return Conditions
Training
Technical Support
Amendments
Severability
Entire Agreement
Third Party Rights
Time of Essence
Currency
Costs and Expenses
Relevant Industries

Aviation

Aircraft Leasing

Commercial Airlines

Private Aviation

Transportation

Aircraft Manufacturing

Aviation Finance

Aviation Insurance

Aircraft Maintenance

Relevant Teams

Legal

Finance

Operations

Technical Operations

Risk Management

Compliance

Commercial

Fleet Management

Asset Management

Treasury

Insurance

Maintenance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Fleet Manager

Aviation Lawyer

Legal Counsel

Contract Manager

Technical Director

Head of Operations

Risk Manager

Compliance Officer

Finance Director

Commercial Director

Aviation Finance Manager

Aircraft Asset Manager

Maintenance Manager

Industries
UAE Civil Aviation Law - Federal Law No. 20 of 1991: Primary aviation legislation governing civil aviation activities in the UAE, including aircraft registration requirements and operating conditions
UAE Civil Aviation Regulations (CARs): Detailed regulations implementing the Civil Aviation Law, covering technical requirements, safety standards, and operational procedures
UAE Civil Code (Federal Law No. 5 of 1985): Governs general contractual principles, obligations, and property rights applicable to lease agreements
UAE Commercial Transactions Law (Federal Law No. 18 of 1993): Regulates commercial transactions and business relationships, including commercial leasing provisions
Cape Town Convention and Aircraft Protocol: International treaty implemented in UAE law governing international interests in mobile equipment, particularly relevant for aircraft financing and leasing
UAE Registration of Aircraft Regulations: Specific regulations concerning the registration and deregistration of aircraft in the UAE national aircraft register
UAE Cabinet Resolution No. 20 of 2018: Regulations concerning aircraft operators, including requirements for economic and technical capabilities
Federal Law No. 10 of 1992 on Evidence: Governs the requirements for documentation and evidence in commercial transactions, including lease agreements
UAE Bankruptcy Law (Federal Law No. 9 of 2016): Relevant for provisions dealing with default scenarios and insolvency situations
UAE VAT Law (Federal Decree-Law No. 8 of 2017): Governs VAT implications on aircraft leasing transactions in the UAE
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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