Common use of Time Share Clause in Contracts

Time Share. Lessee shall pay Time Share Lessor for each flight conducted under this Agreement (as determined in accordance with Section 6.2 of this Agreement) an amount equal to Time Share Lessor’s aggregate incremental costs for such flight, calculated on the same basis used by Time Share Lessor from time to time to determine the aggregate incremental cost of personal aircraft use for purposes of disclosure in Time Share Lessor’s proxy statement issued in connection with its annual meeting of shareholders (the “Proxy Calculation”); provided, however, that in no event shall Time Share Lessee pay to Time Share Lessor an amount in excess of the maximum amount of expense reimbursement permitted in accordance with Section 91.501(d) of the FAR, which expenses include and are limited to: 6.1.1 fuel, oil, lubricants, and other additives; 6.1.2 travel expenses of the crew, including food, lodging and ground transportation; 6.1.3 hangar and tie down costs away from the Aircraft’s Operating Base; 6.1.4 insurance obtained for the specific flight; 6.1.5 landing fees, airport taxes and similar assessments; 6.1.6 customs, foreign permit, and similar fees directly related to the flight; 6.1.7 in-flight food and beverages; 6.1.8 passenger ground transportation; 6.1.9 flight planning and weather contract services; and 6.1.10 an additional charge equal to 100% of the expenses listed in Section 6.1.1.