Lease of Aircraft. Pursuant to and in accordance with the provisions of FAR [Section 91.501(c)(l)], Lessor hereby agrees to lease the Aircraft from time to time to Lessee, as the case may be, on a time sharing, non-continuous and non-exclusive basis, and Lessee hereby agrees to lease the Aircraft from time to time from Lessor on a time sharing, non-continuous and non-exclusive basis, during the Term (as defined in Article 2) and subject to the terms and conditions herein contained.
WHEREAS, Lessee desires to lease said Aircraft and flight crew from Lessor on a time-sharing basis, as defined in [Section 91.501(c)(1)] of the Federal Aviation Regulations ("FAR").
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