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Aircraft LLC Operating Agreement
"Need an Aircraft LLC Operating Agreement for a three-member partnership acquiring a private jet for business use, with specific provisions for cost-sharing and priority scheduling between members based in London and Manchester."
1. Parties: Details of LLC members and their respective interests
2. Background: Context of the LLC formation and aircraft operation purpose
3. Definitions: Key terms used throughout the agreement including relevant regulatory references
4. Company Formation: Details of LLC structure, registration, and compliance with Companies Act 2006
5. Capital Contributions: Members' financial commitments and capital structure
6. Management Structure: Governance and decision-making processes for the LLC
7. Aircraft Operations: Operating procedures and compliance with CAA regulations and Air Navigation Order
8. Financial Provisions: Cost sharing, revenue distribution, and accounting practices
9. Regulatory Compliance: Compliance obligations under UK aviation law and international standards
10. Term and Termination: Duration of the agreement and termination provisions
1. Interstate Operations: Provisions for international flights and compliance with foreign regulations
2. Financing Arrangements: Terms of external financing and related obligations
3. Charter Operations: Rules and requirements for third-party charter operations
4. Environmental Compliance: Additional provisions for environmental regulations and emissions standards
1. Schedule 1 - Aircraft Specifications: Detailed technical information about the aircraft including registration details
2. Schedule 2 - Member Capital Contributions: Detailed breakdown of financial commitments from each member
3. Schedule 3 - Operating Procedures: Detailed operational protocols and safety procedures
4. Schedule 4 - Maintenance Schedule: Required maintenance and inspection schedules per CAA requirements
5. Schedule 5 - Insurance Requirements: Details of required insurance coverage and minimum liability limits
6. Schedule 6 - Regulatory Compliance Checklist: Comprehensive list of applicable regulations and compliance requirements
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