This Aircraft Lease Agreement is between an airline or aircraft owner and a company and/or individual who desires to lease an aircraft. This lease sets out the specific terms of the arrangement including a description of the aircraft, lease term and the rental amount paid under the lease. It also includes the uses for which the aircraft is leased and lessee's rights to inspect the aircraft upon delivery. It is imperative that this type of business arrangement be memorialized in writing. A written Aircraft Lease Agreement will prove invaluable in the event of disagreements, misunderstandings or litigation between the parties. This Aircraft Lease Agreement includes the following provisions: Parties: Sets forth the name of the company/individual leasing the aircraft (lessee) and the company from whom the aircraft is leased (lessor); Effective Date: Sets forth the effective date of the lease agreement; Uses of Aircraft: Sets out the uses under which the aircraft is leased and that lessor agrees to deliver aircraft to lessee at the time the agreement is entered into; Term: Sets out the specific term of the agreement (i.e., days, months or years); Rental: Amount of rental payments, due date for the payments and penalty imposed if there is a delay or default in payment terms; Lessee Covenants: Sets out the terms under which the aircraft is leased including insurance requirements and pilot certifications; Damage: Lessee agrees to immediately report any damage and agrees to pay for damages not covered by insurance; Signatures: Lessor and lessee must sign and date the agreement in the presence of witnesses. Protect your rights and your property by purchasing this attorney-prepared form. This attorney-prepared package includes: General Information Instructions and Checklist Aircraft Lease Agreement State Law Compliance: This form complies with the laws of all states