The agreement should use the following lines around the line; 376.26 Exemption for leases between certified airlines and their representatives. The leasing provisions in Sections 376.12 to (l) do not apply to lease agreements between certified airlines and their representatives. [44 FR 4681, 23 January 1979. Umbedesignated at 61 FR 54707, Oct. 21, 1996. Notwithstanding the lease conditions in this section, a certified airline may lease equipment to another certified airline or a private airline may lease equipment to a certified airline under the following conditions: (a) the marking of the equipment requirements in point 376.11 (c) must be met; (b) the lessor must own or retain the equipment under a lease agreement; (c) a written agreement on equipment must be concluded between certified air carriers or between the private carrier and the approved carrier, as follows: c) (1) it must be signed by the parties or their agents. (2) It must provide that control and responsibility for the operation of the equipment be given to the taker from the date the taker takes possession and to the receipt required under item 376. 11 (b) until: ((i) possession of the equipment is returned to the rental company and the receipt required by the approved airline in accordance with Point 376.11 (b) is satisfied; or (ii) if the agreement is reached between certified carriers, possession of the equipment is returned to the lease or given to another certified airline in exchange for equipment. c) 3. A copy of the agreement must be transported in the equipment while it is in possession of the lease. c) 4.
There is nothing in this section that prohibits the use of a key lease by licensed air carriers; Private air carriers and any other entity that conducts leasing transactions in accordance with this section, when a copy of this principal lease is kept in the equipment while it is owned by the underwriter, if the principal lease is in accordance with the provisions of this section and the receipts covered in point 376.11 B are exchanged and the equipment records are established and retained in accordance with .376.11 (d). (d) licensed and private air carriers, under joint ownership and control, may, in accordance with this section, lease aircraft without meeting the requirements of paragraph (a) of this section with respect to the identification of equipment and requirements covered in paragraphs (c) and (4) (4) of this section regarding aircraft entries. The rental of equipment between these airlines is subject to all other requirements of this section. 376.11 General leasing requirements. Apart from the replacement of the equipment covered in paragraph 376.31 and the exemptions provided for in point C of these rules, the licensed carrier may only carry the authorized transport in equipment it does not possess only under the following conditions: (a) rental – there must be a written rent for the use of the equipment and the requirements of page 376.12 (b) of the supporting documents] the equipment to be attached and the indication of the date and time of the transfer of the property must be stated as follows: b) (1) When possession of the equipment is taken over by the licensed carrier, it must issue a receipt to the owner of the equipment. The receipt identified in this section can be transmitted by mail, telegraph or other similar means of communication.