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Aircraft Joint Ownership Agreement
"Need an Aircraft Joint Ownership Agreement for three companies sharing a Cessna Citation business jet, with equal ownership shares and priority scheduling for our CEO during weekdays, to be effective from March 2025."
1. Parties: Identification of all joint owners and their contact details
2. Background: Context of the agreement and brief description of the aircraft
3. Definitions: Key terms used throughout the agreement
4. Ownership Structure: Details of ownership shares and title registration
5. Operating Costs and Expenses: Cost sharing arrangements and payment terms
6. Use and Scheduling: Rules for aircraft usage and booking system
7. Maintenance and Repairs: Responsibilities for maintaining airworthiness
8. Insurance: Required coverage and cost sharing
9. Management and Decision Making: Procedures for joint decisions and management
10. Term and Termination: Duration and termination provisions
1. Hangar and Storage: Storage arrangements and costs for the aircraft when not in use
2. Pilot Requirements: Specific pilot qualification requirements and minimum standards for aircraft operation
3. Revenue Sharing: Arrangements for sharing any charter revenue if aircraft is used commercially
4. First Right of Refusal: Rights and procedures regarding sale of ownership shares to existing co-owners
1. Schedule 1 - Aircraft Specification: Detailed description of aircraft including registration number, make, model, and equipment
2. Schedule 2 - Operating Procedures: Detailed procedures for scheduling and operating the aircraft
3. Schedule 3 - Maintenance Schedule: Detailed maintenance requirements and schedule
4. Schedule 4 - Cost Allocation: Detailed breakdown of cost sharing arrangements
5. Schedule 5 - Insurance Certificates: Copies of insurance documentation
6. Schedule 6 - Owner Information: Detailed contact information and ownership shares
Authors
Aircraft
Airworthiness Certificate
Annual Budget
Applicable Law
Available Hours
Base Airport
Business Day
CAA
Commencement Date
Common Costs
Completion Date
Confidential Information
Direct Operating Costs
Emergency Maintenance
Fixed Costs
Flight Hours
Force Majeure Event
Hangar
Insurance Policies
Joint Management Committee
Maintenance Program
Maintenance Reserve
Operating Costs
Operational Control
Ownership Interest
Ownership Share
Permitted Airport
Pilot in Command
Planned Maintenance
Purchase Price
Qualified Pilot
Registry
Regulatory Authority
Scheduled Maintenance
Security Interest
Service Provider
Term
Territory
Transfer
Unscheduled Maintenance
Usage Fee
Variable Costs
Ownership Structure
Purchase Price and Payment
Registration and Title
Aircraft Usage Rights
Scheduling and Operations
Operating Costs
Fixed Costs
Variable Costs
Cost Sharing
Maintenance Obligations
Insurance Requirements
Hangar and Storage
Management Committee
Decision Making
Pilot Requirements
Safety Standards
Regulatory Compliance
Limitations on Use
Transfer Restrictions
Right of First Refusal
Sale of Aircraft
Dispute Resolution
Force Majeure
Confidentiality
Representations and Warranties
Indemnification
Liability
Default and Remedies
Assignment
Amendments
Notices
Governing Law
Jurisdiction
Entire Agreement
Severability
Third Party Rights
Waiver
Further Assurance
Counterparts
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