YANGTZE RIVER INSURANCE BROKERS COMPANY LIMITED

Transcription

1 YANGTZE RIVER INSURANCE BROKERS COMPANY LIMITED CERTIFICATE OF INSURANCE Cert. No.: AI-YRIB Date : June 26, 2015 TO: WHOM IT MAY CONCERN THIS IS TO CERTIFY that we, YANGTZE RIVER INSURANCE BROKERS COMPANY LIMITED as the insurance broker, have issued the insurance certificate on behalf of the Insurers effecting the aviation insurance in the name of HAINAN AIRLINES COMPANY LIMITED/HNA GROUP CO., LTD. and/or BEIJING CAPITAL AIRLINES COMPANY LIMITED and/or their Associated and/or Subsidiary Companies (hereafter called the Insured ) covering its fleet of Aircraft against the following risks and up to the limits stated. INSURER: PING AN PROPERTY & CASUALTY INSURANCE COMPANY OF CHINA, LTD. (35% share of the limit) CO-INSURER: SINOSAFE GENERAL INSURANCE CO., LTD. (30% share of the limit) PICC PROPERTY AND CASUALTY COMPANY LIMITED CHINA PACIFIC PROPERTY INSURANCE COMPANY LIMITED MINAN PROPERTY AND CASUALTY INSURANCE COMPANY LIMITED BOC INSURANCE COMPANY LIMITED (5% share of the limit) INSURED: HAINAN AIRLINES COMPANY LIMITED and/or HNA GROUP CO., LTD. and/or BEIJING CAPITAL AIRLINES COMPANY LIMITED POLICY PERIOD: 12 Months from 8 th July, 2015(00.00 Local Standard Time, Beijing). GEOGRAPHICAL LIMITS: World-Wide as original, however, insurers shall be notified in advance of flights to the following countries and regions: AI-YRIB

2 (a) Algeria, Cabinda, Burundi, Central African Republic, Congo, Democratic Republic of Congo, Eritrea, Ethiopia, Ivory Coast, Liberia, Nigeria, Sierra Leone, Somalia. (b) Colombia, Ecuador, Peru. (c) Checheno / Ingushskaya, Nagorno-Karabakh, Pakistan, Yemen, Jammu & Kashmir, Nepal. (d) Sri Lanka. (e) Iran, Iraq. (f) Any country where the operation of the insured Aircraft is in breach of United Nations sanctions. COVERAGES: 1. HULL ALL RISKS (including spare parts, engines and the like not forming part of an aircraft, hereafter called Spares ) of Loss or Damage while flying and on the ground for an Agreed Value as stated below. The coverage provided under this insurance is subject to the following Deductibles each and every loss, other than in event of a Total Loss, Constructive Total Loss or Arranged Total Loss: In respect of G550 aircraft_usd25,000. In respect of Spares_USD10,000, but engine running activities to be subject to the applicable deductible for the aircraft type. 2. HULL (including Spares) WAR AND ALLIED RISKS, covering the perils excluded on the Hull All Risk Insurance by the application of War, Hi-jacking, and Other Perils Exclusion Clause (Aviation) AVN48B except paragraph (b) thereof in accordance with LSW555D policy form for an Agreed Value as stated below. Coverage includes confiscation, nationalisation, seizure, restraint, detention, appropriation, requisition for title or use by or under the authority of Government of the People s Republic of China, and is subject to an aggregate sub-limit of USD 300,000,000 (or currency equivalent). This insurance is subject to an annual aggregate limit of USD1,000,000,000. NOTE: THIS ANNUAL AGGREGATE LIMIT MAY BE REDUCED OR EXHAUSTED BY VIRTUE OF CLAIMS MADE IN RESPECT OF ANY AIRCRAFT AND SPARES INSURED UNDER THE FLEET POLICY. The coverage in respect of spares, as detailed in 1 and 2 above is for such sums as may be declared by the Insured, Subject to a limit of USD300,000,000 (or currency equivalent) any one location, not exceeding USD300,000,000 any one sending. Coverage for spares is restricted in respect of War Risks (as defined in paragraph (A) of AVN48B ) to whilst in Transit only. 3. AIRCRAFT THIRD PARTY, PASSENGER, BAGGAGE, CARGO, MAIL, and AIRLINE GENERAL THIRD PARTY (including Products) LEGAL LIABILITY, for a Combined Single Limit (Bodily Injury/Property Damage) of USD750,000,000 any one occurrence, each aircraft, unlimited in all during the currency of the policy, but in the aggregate in respect of Products. War and Allied Risks are also covered, in accordance with the Extended Coverage Endorsement (Aviation Liabilities) AVN 52E as contained in the Policy. The coverage provided by Extended Coverage Endorsement (Aviation Liabilities) AVN 52E is subject to a sub-limit of USD350,000,000 any one occurrence and in the annual aggregate except with respect to passengers to whom the full Policy limit shall apply. AI-YRIB

3 The coverage is subject to: AVN2000A Date Recognition Exclusion Clause AVN2001A Date Recognition Limit Coverage Clause AVN2002A Date Recognition Limit Coverage Clause SCHEDULE IDENTIFYING TERMS USED IN THIS ENDORSEMENT Aircraft Type/Equipment : G550 Registration Mark : B8108 Manufacturer s Serial No. : 5120 Engine Type : Rolls Royce BR C4-11 Engine MSNs : 15339&15342 Agreed Value : $56,210,000(However, in respect of Hull War and Allied Perils the agreed value of the Aircraft is $50,589,000 plus Total Loss Only amount $5,621,000. Overall total amount (Agreed Value plus Total Loss Only amount) equals $56,210,000.) Effective Date : July 08, 2015 The said Equipment is the subject of the following Contract(s): Contract(s): a) 委托购买合同 ( 合同号 :ZHZL(10)01ZL003-WM001) 中航国际租赁有限公司 ( 委托人 ), 金鹿航空有限公司 ( 现名为北京首都航空有限公司 )( 受托人 ), 签署日期 2010 年 1 月 22 日 b) 融资租赁合同 ( 合同号 :ZHZL(10)01ZL003) 中航国际租赁有限公司 ( 出租人 ), 金鹿航空有限公司 ( 现名为北京首都航空有限公司 )( 承租人 ), 签署日期 2010 年 1 月 22 日 c) 飞机融资借款合同 ( 合同号 : ) 中航国际租赁有限公司 ( 借款人 ), 中国工商银行股份有限公司上海市静安支行 ( 贷款行 ), 签署日期 2011 年 6 月 d) 飞机抵押合同 ( 合同号 : ) 中航国际租赁有限公司 ( 抵押人 ), 中国工商银行股份有限公司上海市静安支行 ( 抵押权人 ), 签署日期 2011 年 6 月 e) 租赁权益转让协议 ( 合同号 : ) 中航国际租赁有限公司 ( 转让方 ), 中国工商银行股份有限公司上海市静安支行 ( 受让方 ), 签署日期 2011 年 6 月 Contract Party(ies): 中国工商银行股份有限公司上海市静安支行 (as the first loss payee) 中航国际租赁有限公司 and in accordance therewith the Insurer have agreed to the following: It is noted that the Contract Party(ies) have an interest in respect of the Equipment under the Contract(s). Accordingly, with respect to losses occurring during the period from the Effective Date until the expiry of the Insurance or until the expiry or agreed termination of the Contract(s) or until the obligations under the Contract(s) are terminated by any action of the Insured or the Contract Party(ies), whichever shall first occur, in respect of the said interest of the Contract Party(ies), and in consideration of the Additional Premium, it is confirmed that the Insurance afforded by the Policy is in full force and effect and it is further agreed that the following provisions are specifically endorsed to the Policy(ies): AI-YRIB

4 1. Under the Hull, Hull War and Aircraft Spares Insurances 1.1 In respect of any claim on Equipment that becomes payable on the basis of a Total loss, settlement (net of any relevant Policy Deductible) shall be made to, or to the order of the Contract Party(ies). In respect of any other claim, settlement (net of any relevant policy deductible) shall be made with such party(ies) as may be necessary to repair the Equipment unless otherwise agreed after consultation between the Insurer and the Insured and, where necessary under the terms of the Contract, the Contract Party(ies). Such payments shall only be made provided they are in compliance with all applicable laws and regulations The Insurer shall be entitled to the benefit of salvage in respect of any property for which a claims settlement has been made. 2. Under the Legal Liability Insurance 2.1. Subject to the provision of this Endorsement, the Insurance shall operate in all respects as if a separate Policy had been issued covering each party insured hereunder, but this provision shall not operate to include any claim howsoever arising in respect of loss or damage to the Equipment insured under the Hull or Spares insurance of the Insured. Notwithstanding the foregoing the total liability of the Insurer in respect of any and all Insureds shall not exceed the limits of liability stated in the Policy The Insurance provided hereunder shall be primary and without right of contribution from any other insurance which may be available to the Contract Party(ies) This Endorsement does not provide coverage for the Contract Party(ies) with respect to claims arising out of their legal liability as manufacturer, repairer, or servicing agent of the Equipment. 3. Under all Insurances 3.1 The Contract Party(ies) are included as Additional Insured(s). 3.2 The coverage afforded to each Contract Party by the Policy in accordance with this Endorsement shall not be invalidated by any act or omission (including misrepresentation and non-disclosure) of any other person or party which results in a breach of any term condition or warranty of the Policy PROVIDED THAT the Contract Party so protected had not caused, contributed to or knowingly condoned the said act or omission. 3.3 The provisions of the Endorsement apply to the Contract Party(ies) solely in their capacity as financier(s)/lessor(s) in the identified Contract(s) and not in any other capacity. Knowledge that any Contract Party may have or acquire or actions that it may take or fail to take in that other capacity (pursuant to any other contract or otherwise) shall not be considered as invalidating the cover afforded by this Endorsement. 3.4 The Contract Party(ies) shall have no responsibility for premium and the Insurer shall waive any right of set-off or counterclaim against the Contract Party(ies), except in respect of outstanding premium in respect of the Equipment. AI-YRIB

5 3.5 Upon payment of any loss or claim to or on behalf of any Contract Party(ies), the Insurer shall to the extent and in respect of such payment be thereupon subrogated to all legal and equitable rights of the Contract Party(ies) indemnified hereby (but not against any Contract Party). The Insurer shall not exercise such rights without the consent of those indemnified, such consent not to be unreasonably withheld. At the expense of the insurer such Contract Party(ies) shall do all things reasonably necessary to assist the Insurer to exercise the said rights. 3.6 Except in respect of any provision for Cancellation or Automatic Termination specified in the Policy or any endorsement thereof, cover provided by this Endorsement may only be cancelled or materially altered in a manner adverse to the Contract Party(ies) by the giving of not less than THIRTY (30) days notice (but seven (7) days or such lesser period as may be customarily available on respect of War and Allied Perils) in writing to THE LESSOR. Notice shall be deemed to commence from the date such notice is given by the Insurer. Such notice will NOT, however, be given at normal expiry date of the Policy or any endorsement. EXCEPT AS SPECIFICALLY VARIED OR PROVIDED BY THE TERMS OF THIS ENDORSEMENT: 1. THE CONTRACT PARTY(IES) ARE COVERED BY THE POLICY SUBJECT TO ALL TERMS, CONDITIONS, LIMITATIONS, WARRANTIES, EXCLUSIONS AND CANCELLATION PROVISIONS THEREOF. 2. THE POLICY SHALL NOT BE VARIED BY ANY PROVISIONS CONTAINED IN THE CONTRACT(S) WHICH PURPORT TO SERVE AS AN ENDORSEMENT OR AMENDMENT TO THE POLICY. In addition the Insurer agreed: To include a 50/50 clause (in accordance with AVS103) Subject always to the Provisions of AVN67B and the terms, conditions, limitations, exclusions and cancellation provisions of the relative Policy(ies). THE POLICY NUMBER IS WHICH EXPIRES AT MIDNIGHT JULY 7, 2016, BEIJING LOCAL STANDARD TIME. Su Mei Yang Authorized Signature AI-YRIB