Document:

EX-10.32

 Exhibit 10.32 

EXECUTION VERSION 
 AIRCRAFT DRY
LEASE AGREEMENT 
 THIS AIRCRAFT DRY LEASE AGREEMENT (this “Lease”) is entered in effective as of July 1, 2018, by and
between QUART 2C, LLC, a Delaware limited liability company with an address at P.O. Box 420, Oyster Bay, New York 11771 (“Lessor” or “Q2C”) and MSG SPORTS & ENTERTAINMENT, LLC, a Delaware limited liability company with
an address at Two Pennsylvania Plaza, New York, New York 10121 (“Lessee” or “MSG”). 
 W I T
N E S S E T H 
 WHEREAS, Lessor is the owner of a Gulfstream Aerospace G450 aircraft,
manufacturer’s serial number 4179, United States registration N919AM, including its engines, accessories, components and parts (the “Aircraft”); and 

WHEREAS, the parties have agreed that Lessor shall lease the Aircraft to Lessee on a non-exclusive basis for use by Lessee upon the terms and
subject to the conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants,
agreements, representations and warranties set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, Lessor and Lessee, intending to be legally bound, agree as follows: 

1. Lease of Aircraft. 
 (a)
This Lease sets forth the exclusive terms and conditions under which Lessee is entitled to use the Aircraft, and Lessee shall have no right to use the Aircraft except as expressly set forth herein. Lessor shall lease the Aircraft to Lessee, and
Lessee shall lease the Aircraft from Lessor, during all Lease Periods throughout the Term (as defined in Section 12) of this Lease as provided hereunder. “Lease Periods” shall mean those times, if any, when the Aircraft is being
utilized by Lessee hereunder, with the consent of Lessor as provided in Section 1(e), for flight operations conducted by Lessee under Part 91 of the Federal Aviation Regulations (“FARs”), including any deadhead, ferry or
repositioning flights to return the Aircraft to the airport at which the Lease Period commenced or to position the Aircraft for a Lessee trip at a remote location away from Republic Airport, Farmingdale, New York (KFRG), but excluding any deadhead,
ferry and repositioning flights described in Section 1(b) below (“Lessee Flights”). Lessee’s right to use the Aircraft hereunder during the Term shall be non-exclusive and is subject in all respects to (i) Lessor’s
right to use the Aircraft at all times during the Term other than during such Lease Periods and (ii) Lessor’s right to permit other non-exclusive lessees to use the Aircraft under their operational control and possession, command and
control 
 (b) Notwithstanding the foregoing, the parties agree that if a trip by Lessee causes or will cause the Aircraft to be at a remote
location away from KFRG (“Lessee’s Location”), Lessee shall, at Lessor’s request, permit the Aircraft to be relocated from Lessee’s Location to KFRG or other location designated by Lessor (and thereafter shall be returned to
Lessee’s Location) if Lessor requires use of the Aircraft directly or for one of its affiliated non-exclusive lessees, but only if such itinerary will not unreasonably delay or interfere with any scheduled flight by Lessee. In that event,
(i) Lessee’s then-current Lease Period shall terminate effective as of initial engine start-up for the departure flight from Lessee’s Location; (ii) Lessor or its affiliated non-exclusive lessee shall pay all costs incurred
during the period in which the Aircraft is away from Lessee’s Location, including all occupied and deadhead legs to ferry the Aircraft from Lessee’s Location and back; and (iii) a new Lease Period shall begin effective as of final
engine shut-down upon return of the Aircraft to Lessee’s Location. 
 (c) Transfer of the Aircraft from Lessor to Lessee to commence a
Lease Period hereunder, and transfer of the Aircraft from Lessee to Lessor to terminate a Lease Period hereunder, shall be evidenced by the entry of appropriate notations of such transfer on the Aircraft’s logs. Upon the commencement or
termination of any Lease Period hereunder, the party transferring possession of the Aircraft shall deliver the Aircraft to the other party at KFRG or such other location as the parties may agree. In the case of a transfer of possession from Lessee
to Lessor, the Aircraft shall be in at least the same operating condition, order, repair and condition as when received by Lessee at the commencement of the Lease Period, reasonable wear and tear and maintenance events arising during the Lease
Period not caused by Lessee’s gross negligence or willful misconduct excepted. 
 (d) Subject to Aircraft and crew availability, Lessor
shall use its good faith efforts, consistent with Lessor’s approved policies, in order to accommodate the needs of Lessee, to avoid conflicts in scheduling with Lessor’s affiliated non-exclusive lessees’ use of the Aircraft, and to
enable Lessee to enjoy the benefits of this Lease; however, Lessee acknowledges and agrees that notwithstanding anything in this Lease to the contrary, Lessor shall have sole and exclusive final authority over the scheduling of the Aircraft and
Lessor’s other affiliated non-exclusive lessees’ needs for the Aircraft shall take precedence over Lessee’s rights and Lessor’s obligations under this Lease pursuant to Section 1(e).

  

 (e) Lessee shall use its reasonable efforts to give Lessor as much advance notice as
possible of Lessee’s proposed utilization hereunder. If Lessee notifies Lessor pursuant to Section 15 of Lessee’s proposed use of the Aircraft and Lessor consents thereto, the period described in such notice of proposed use may be
scheduled by Lessee (unless such intended use is cancelled by Lessee by like notice to Lessor). Notwithstanding anything herein to the contrary, all Lessee Flights approved by Lessor and scheduled by Lessee are subject to the absolute right of
Lessor to revoke such approval at any time prior to twenty four (24) hours before the scheduled departure of the initial flight of the approved itinerary, without liability, upon notice to Lessee. Any notice under this Section 1(e) may be
either written or oral, but shall be given only to or by individuals designated by each party from time to time as authorized to act on its behalf for purposes of this Section 1(e). 

2. Rent. 
 (a) Lessee shall
remit to Lessor the sum per block hour set forth on Schedule 1 hereto from time to time as Rent for the use of the Aircraft by Lessee during each Lease Period hereunder. For this purpose, a “block hour” shall be measured in hours and
tenths of hours, rounded to the nearest tenth of an hour, from the time the Aircraft moves for purposes of flight at the departure airport to the time the Aircraft comes to a stop at the arrival airport. 

(b) Not later than thirty (30) days after the end of each calendar month during the Term, Lessee shall provide to Lessor a statement
showing all use of the Aircraft during Lease Periods during that month, and a complete accounting detailing any Rent due from Lessee for that month. Notwithstanding anything in this Lease to the contrary, Lessee shall have no obligation to utilize
the Aircraft hereunder, and there shall be no Rent payable to Lessor hereunder with respect to any calendar month if Lessee does not use the Aircraft hereunder during such month. All payments of Rent due for any calendar month shall be made at
Lessor’s address set forth above, or at such other place as Lessor may designate to Lessee in writing from time to time, not later than the thirtieth (30th) day of the following month.

 (c) Not later than thirty (30) days following June 30 (the “True-Up Date”) each year during the Term, Q2C shall
provide (or cause to be provided) to MSG a statement showing the total number of hours of use of the Aircraft from July 1 of the preceding year to and including the True-Up Date. Pursuant to that certain Time Sharing Agreement, effective as of
July 1, 2018, between Q2C and MSG (the “G550 Time Sharing Agreement”) providing for the lease of MSG’s Gulfstream Aerospace GV-SP aircraft, manufacturer’s serial number 5264, United States registration N551CS (the
“G550”) by Q2C, MSG shall deliver a statement showing the total number of hours of use of the G550 by Q2C from July 1 of the preceding year to and including the True-Up Date. The parties acknowledge and agree that the expectation is
that Lessee’s use of the Aircraft pursuant to this Lease shall be greater (on a per hour basis) than Lessor’s use of the G550 pursuant to the G550 Time Sharing Agreement. In the event that the total number of hours of use of the Aircraft
by MSG during such period is greater than Q2C’s use of the G550 for such period, MSG shall remit to Lessor as Additional Rent the sum per block hour set forth on Schedule 1 hereto for such hours in excess of Q2C’s use of the G550 (the
“True-Up Hours”). In addition, the parties hereto acknowledge and agree that such Rent, including any Additional Rent, shall be permitted to be further adjusted to ensure that the arrangement is not economically unfair to the Lessor of the
Aircraft. Notwithstanding anything in this Lease to the contrary, under no circumstances shall the fees paid under this Lease by Lessee be greater than those permitted under FAR Part 91.501(d). 

3. Expenses. Lessor shall pay the entire cost of insuring, maintaining and fueling the Aircraft during the Term. Lessee shall pay the
following trip-specific costs of operating the Aircraft during Lease Periods under this Lease: 
 (a) travel expenses of crew, including
food, lodging and ground transportation; 
 (b) hangar and tie-down costs away from KFRG; 

(c) additional insurance obtained for the specific flight at the request of Lessee; 

(d) landing fees, airport taxes and similar assessments; 

(e) customs, foreign permit and similar fees directly related to the flight; 

(f) in-flight food and beverages; 

(g) passenger ground transportation; 

(h) flight planning and weather contract services; and 

(i) oil, lubricants and other additives. 

4. Flight Crew. 
 (a)
Lessee shall obtain at its sole cost and expense the services of fully qualified and properly certificated flight crew to operate the Aircraft under this Lease. All flight crew provided by Lessee to operate the Aircraft during any Lease Period
hereunder shall be employees or contractors of Lessee, and Lessee shall be solely responsible for their compensation. 

  
 2 

 (b) Only fully-qualified and properly-credentialed flight crew members who are included
under the insurance coverage required to be maintained hereunder shall be permitted to operate the Aircraft during any Lease Period. All flight crew utilized by Lessee hereunder shall comply with all applicable regulations and the requirements of
all applicable operations and maintenance manuals. 
 5. Operational Control; Operations. 

(a) Lessor and Lessee intend that the lease of the Aircraft effected hereby shall be treated as a “dry lease”. Notwithstanding
anything in this Lease to the contrary, Lessee shall have complete and exclusive operational control, and complete and exclusive possession, command and control, of the Aircraft for all flights during each Lease Period under this Lease. Lessee shall
have complete and absolute control of the crewmembers in preparation for and in connection with the operation of all flights during each Lease Period under this Lease. Lessee shall have complete and exclusive responsibility for scheduling,
dispatching and flight following of the Aircraft on all flights conducted during Lease Periods under this Lease, which responsibility includes the sole and exclusive right over initiating, conducting and terminating any such flights. Lessee shall
have no operational control over any flights of the Aircraft not conducted during Lease Periods under this Lease. 
 (b) Lessee shall use and
operate the Aircraft under this Lease only in accordance with applicable manufacturers’ recommendations and airport and climatic conditions. Neither Lessee nor Lessor shall permit the Aircraft to be maintained, used or operated in violation of
any law, rule, regulation, ordinance or order of any governmental authority having jurisdiction, or in violation of any airworthiness certificate, license or registration relating to the Aircraft. 

6. Regulatory. Lessee shall obtain and maintain in full force and effect any necessary certificates, licenses, permits and
authorizations required for its use and operation of the Aircraft hereunder. Lessee agrees to conduct all operations contemplated by this Lease in compliance with all applicable provisions of the FARs, including, but not limited to, Part 91
thereof. 
 7. Records. Lessee shall maintain any records required by applicable laws, rules or regulations in connection with the
operation of the Aircraft during any Lease Period hereunder. Without limiting the generality of the foregoing, Lessee shall maintain or cause to be maintained flight log books showing the full flight time of the Aircraft during each Lease Period
hereunder, and shall keep such logs available for inspection by Lessor or its representatives at all reasonable times. Lessor shall be entitled, upon reasonable notice to Lessee, to inspect any books or records of Lessee that relate to the
Aircraft’s use hereunder. 
 8. Remote Locations. Lessee shall pay the cost of hangaring the Aircraft at remote locations during
any Lease Periods hereunder. 
 9. Insurance. 

(a) During the Term, Lessor will procure and maintain or cause to be procured and maintained at its sole cost and expense aircraft insurance
(the “Policy”) that satisfies all of the requirements of this Section 9. The Policy will provide: (i) all risk, both ground and in-flight hull, including hull war risks, insurance in an amount equal to the most recent appraised
fair market value of the Aircraft; and (ii) liability coverage covering passengers, non-passengers, third party liability (including war risk AV52) and property damage of not less than three hundred million ($300,000,000) United States dollars
for each occurrence but sublimited to twenty five million ($25,000,000) United States dollars for each occurrence and aggregate with respect to Personal Injury Liability. 

(b) The Policy will provide: (i) that Lessee and its affiliates and each of their respective members, managers, shareholders, officers,
directors, partners, employees, agents, licensees and guests are designated as additional insureds (without responsibility for premiums) with respect to the liability coverage; (ii) that the insurer waives any right of set-off and any right of
subrogation against any of the additional insureds; (iii) that no cancellation or substantial change in coverage of or failure to renew the Policy shall be effective as to the additional insureds for thirty (30) days (seven (7) days,
in the case of war risk or allied perils) after receipt by Lessee of written notice from the insurer of any such cancellation or substantial change in coverage of the policy; (iv) that all coverages will be primary, not subject to any
co-insurance clause, not contributory or subject to offset with respect to any other policies in force; (v) for a severability of interest clause providing that the Policy will operate in the same manner to give each insured the same protection
as if there were a separate policy issued to each insured except for the limit of liability; and (vii) that the “Territory” section will provide Worldwide Coverage. 

(c) On or before the date hereof, Lessor will provide Lessee with a certificate of insurance evidencing all coverages in compliance with the
requirements of this Lease. 

  
 3 

 10. Maintenance. Lessor shall, at its sole cost and expense, (i) enroll or cause
the Aircraft to be enrolled on a Federal Aviation Administration (“FAA”) approved or manufacturer-recommended maintenance and inspection program under Part 91 of the FARs, and (ii) maintain
or cause the Aircraft to be maintained in accordance with the requirements of the approved maintenance and inspection program and all applicable FAA regulations. No period of maintenance, preventive maintenance or inspection shall be delayed or
postponed for the purpose of scheduling the Aircraft, unless said maintenance or inspection can be safely conducted at a later time in compliance with all applicable laws and regulations. Lessor represents and warrants that, at all times during the
Term, the Aircraft will be in airworthy condition and current on the approved maintenance program. Lessee shall be responsible for obtaining letters of authorization in its own name as operator of the Aircraft for operations within RVSM, use
of a MEL, or any other operator specific authorization required for Lessee’s operation of the Aircraft. 
 11. Default. In
addition to the termination rights set forth in Section 12, the non-defaulting party shall have the right to terminate this Lease immediately (without prejudice to any other rights that such party may have) upon written notice to the defaulting
party in the event of any one or more of the following events of default: 
 (i) failure of the defaulting party to make payments due
hereunder within ten (10) days following notice from the non-defaulting party that such payment was not timely made when due; 
 (ii)
except as provided in Section 11(iii) – (vii), violation or default of any material term, obligation or condition of a non-monetary nature set forth in this Lease, together with a failure to cure within ten (10) days after
receipt of written notice of such violation; 
 (iii) if Lessee operates or maintains the Aircraft in violation of any law, regulation,
directive or order of any governmental authority or in violation of any provision of any insurance policy contemplated by this Lease, unless such violation can reasonably be cured, in which case Lessee shall have failed to cure such violation within
ten (10) days after receipt of written notice thereof; 
 (iv) if any representation or warranty made in this Lease by a party is or
becomes false, misleading or incorrect in any material respect; 
 (v) lapse of insurance coverage required to be kept in force hereunder;

 (vi) if a party shall make a general assignment for the benefit of creditors, or be declared insolvent or bankrupt under any bankruptcy,
insolvency or other similar law, or commence a voluntary proceeding seeking liquidation, reorganization or other relief under any such law or seeking the appointment of a receiver or liquidator over any substantial portion of its respective assets;

 (vii) assignment by a party of this Lease, except as permitted under Section 22, or any right or interest created hereunder without
the prior written consent of the other party; or 
 (viii) Lessee incurs, causes, permits, consents to, or there arises due to Lessee’s
actions or failure to act, the creation, attachment, filing or registration of any lien, mortgage, security interest or other charge or encumbrance or claim of right of others against the Aircraft, other than the creation and attachment of statutory
liens for operating costs related to Lessee Flights that arise in the ordinary course of business and that are not perfected by filing or registration against the Aircraft or the lienor asserting or retaining possession of or seizing or arresting
the Aircraft. 
 12. Term. The term of this Lease (including as it may be extended pursuant to the terms hereof, the “Term”)
shall commence on the date hereof and, unless terminated in accordance with the provisions hereof, shall remain in full force and effect for an initial term ending on June 30, 2019 and thereafter shall automatically renew for successive
one-year terms unless either party provides written notice not less than 30 days prior to the expiration of the current term. Notwithstanding the foregoing, (a) Lessor shall have the right to terminate this Lease immediately upon termination of
the G550 Time Sharing Agreement and (b) either party shall have the right to terminate this Lease (i) upon breach of the terms of this Lease by the other party as provided in Section 11, or (ii) for any reason or no reason by
written notice given to the other party not less than ten (10) days prior to the proposed termination date. 
 13. Remedies on
Default or Termination. In the event of a termination of this Lease, whether as a result of a default or the expiration of its Term, Lessee shall immediately cease its use of the Aircraft and return the Aircraft and all records pertaining
thereto to the custody of Lessor or its agents or representatives as set forth herein at such airport as Lessor and Lessee may agree. Not later than thirty (30) days after the termination of this Lease, a full accounting shall be made between
Lessee and Lessor and all accounts settled between the parties. In no event shall any termination affect the rights and obligations of the parties arising prior to the effective date of such termination. Without prejudice to or limitation or
modification of the other provisions of this Lease, in no event shall either party be liable to the other for damages relating to the loss of use of the Aircraft after the date of termination of this Lease, due to default or expiration of the Term
or otherwise. 

  
 4 

 14. Cross Indemnities; LIMITATION ON LIABILITY. 

(a) Without limiting their respective obligations hereunder, each party (in each case, the “Indemnitor”) hereby indemnifies and holds
harmless the other party and its affiliates and their respective officers, directors, partners, employees, shareholders, members and managers (in each case, collectively, the “Indemnitee”) for any claim, damage, loss, or reasonable
expense, including reasonable attorneys’ fees (an “Indemnified Loss”), resulting from bodily injury or property damage arising out of the ownership, maintenance or use of the Aircraft which results from the gross negligence or willful
misconduct of such party; provided, however, that neither party will be liable for any Indemnified Loss to the extent: 
 (i) Such loss is
covered by the insurance policies described in Section 9 (the “Policies”); 
 (ii) Such loss is covered by the Policies but
the amount of such loss exceeds the policy limits specified by Lessor; 
 (iii) Such loss consists of expenses incurred in connection with
any loss covered in whole or in part by the Policies but such expenses are not fully covered by the Policies; or 
 (iv) Such loss is caused
by the gross negligence or willful misconduct of the Indemnitee. 
 (b) Each party agrees to look to the insurance required to be maintained
under Section 9 prior to seeking indemnification from the other party hereunder. 
 (c) LIMITATION ON LIABILITY. EACH PARTY
ACKNOWLEDGES AND AGREES THAT: (I) THE PROCEEDS OF INSURANCE TO WHICH IT IS ENTITLED; (II) ITS RIGHTS TO INDEMNIFICATION FROM THE OTHER PARTY UNDER SECTIONS 14(a) and 17; AND (III) ITS RIGHT TO DIRECT DAMAGES ARISING IN CONTRACT
FROM A BREACH OF THE OTHER PARTY’S OBLIGATIONS UNDER THIS LEASE; ARE THE SOLE REMEDIES FOR ANY DAMAGE, LOSS, OR EXPENSE ARISING OUT OF THIS LEASE OR THE TRANSACTIONS CONTEMPLATED HEREBY. EXCEPT AS EXPRESSLY SET FORTH IN THIS SECTION 14(c),
EACH PARTY WAIVES ANY RIGHT TO RECOVER ANY DAMAGE, LOSS OR EXPENSE ARISING OUT OF THIS LEASE OR THE TRANSACTIONS CONTEMPLATED HEREBY. IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR OR HAVE ANY DUTY FOR INDEMNIFICATION OR CONTRIBUTION TO THE OTHER
PARTY FOR ANY CLAIMED INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR FOR ANY DAMAGES FOR LOSS OF USE, REVENUE, PROFIT, BUSINESS OPPORTUNITIES AND THE LIKE, OR FOR DEPRECIATION OR DIMINUTION IN VALUE OF THE AIRCRAFT OR
INSURANCE DEDUCTIBLE, EVEN IF THE PARTY HAD BEEN ADVISED, OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES. 
 NOTWITHSTANDING ANYTHING IN
THIS LEASE TO THE CONTRARY, NEITHER PARTY SHALL HAVE ANY LIABILITY TO THE OTHER PARTY FOR ITS PERFORMANCE OR FAILURE TO PERFORM ANY OF ITS OBLIGATIONS UNDER THIS LEASE (INCLUDING, WITHOUT LIMITATION, IN THE CASE OF ITS NEGLIGENCE) EXCEPT IN THE CASE
OF ITS GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 
 (d) The provisions of this Section 14 shall survive the termination or expiration of
this Lease. 
 15. Notices. All notices or other communications delivered or given under this Lease shall be in writing and shall be
deemed to have been duly given if hand-delivered, sent by certified or registered mail, return receipt requested, or nationally-utilized overnight delivery service, Portable Document Format (“PDF”) or confirmed facsimile transmission, as
the case may be. Such notices shall be addressed to the parties at the addresses set forth above, or to such other address as may be designated by any party in a writing delivered to the other in the manner set forth in this Section 15. Notices
sent by certified or registered mail shall be deemed received three (3) business days after being mailed. All other notices shall be deemed received on the date delivered. Routine communications may be made by e-mail to Lessor at
Rluthra@kglfo.com and to Lessee at joseph.yospe@msg.com or fax to Lessor at (212) 465-3923 and to Lessee at (212) 465-6148. 
 16.
Relationship of Parties. The relationship of the parties created by this Lease is strictly that of lessor and lessee. Nothing in this Lease is intended, nor shall it be construed so as, to constitute the parties as partners or joint venturers
or as principal and agent. 
 17. Taxes. Lessor shall pay all taxes, assessments and charges imposed by any Federal, state, municipal
or other public authority upon or relating to the ownership of the Aircraft during the Term (other than any taxes, fines or penalties imposed upon Lessor as a result of a breach of this Lease by Lessee). Lessee shall pay all taxes, assessments, and
charges imposed by any Federal, state, municipal or other public authority upon or relating to the rental, use or operation of the Aircraft by Lessee during the Lease Periods (including any sales or use tax imposed by the State of New York on any
lease payment hereunder), other than income taxes of Lessor. Lessee shall also be liable for any federal excise tax imposed under Internal Revenue Code Section 4261 if such tax is applicable to any or all amounts paid (or deemed to be paid) by
Lessee to Lessor hereunder. Lessee shall pay such tax to Lessor within thirty (30) days after receipt of Lessor’s written invoice therefor. Each party agrees to indemnify and hold the other harmless against any and all liabilities, costs
and expenses (including attorneys’ fees) resulting from a breach of its respective undertaking hereunder. 
  

  
 5 

 18. Governing Law. This Lease shall be governed by and construed in accordance with
the laws of the State of New York, determined without regard to its conflicts of laws principles. If any provision of this Lease conflicts with any statute or rule of law of the State of New York or is otherwise unenforceable, such provision shall
be deemed null and void only to the extent of such conflict or unenforceability and shall be deemed separate from and shall not invalidate any other provision of this Lease. 

19. Venue. Any legal action, suit or proceeding arising out of or relating to this Lease or the transactions contemplated hereby may be
instituted in any state or federal court in the State of New York. Each party waives any objection which such party may now or hereinafter have to the laying of the venue in New York County, New York in any such action, suit or proceeding, and
irrevocably submits to the jurisdiction of any such court in any such action, suit or proceeding. 
 20. Amendment. This Lease shall
not be modified or amended or any provision waived except by an instrument in writing signed by authorized representatives of the parties. 

21. Counterparts. This Lease may for all purposes be executed in several counterparts, each of which shall be deemed an original, and
all such counterparts, taken together, shall constitute the same instrument, even though all parties may not have executed the same counterpart of this Lease. Each party may transmit its signature by confirmed facsimile or PDF transmission, and such
signatures shall have the same force and effect as an original signature. 
 22. Successors and Assigns; Third-Party Beneficiaries.
Neither party shall have the right to assign this Lease without the prior written consent of the other party; provided, however, that (i) Lessor shall have the right, upon notice to Lessee, to assign this Lease to any other direct or indirect
wholly-owned subsidiary of Lessor provided any such assignments hereunder and the resulting ownership and operational structure are consistent with applicable FARs, and (ii) Lessee shall have the right, upon notice to Lessor, to assign this
Lease to any entity controlling, controlled by, or under common control with, The Madison Square Garden Company. This Lease shall be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns, and
shall inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors and permitted assigns. This Lease shall not be construed to create any third-party beneficiary rights in any person not a party hereto
(or a successor to or permitted assign of any such party). 
 23. Integration. This Lease sets forth the entire agreement between the
parties with respect to the subject matter hereof and supersedes any and all other agreements, understandings, communications, representations or negotiations, whether oral or written, between the parties with respect to the lease of the Aircraft.
There are no other agreements, representations or warranties, whether oral or written, express or implied, relating to the lease of the Aircraft that are not expressly set forth in this Lease. 

24. Legal Fees and Other Costs and Expenses. In the event of any dispute, litigation or arbitration between the parties with respect to
the subject matter of this Lease, the unsuccessful party to such dispute, litigation or arbitration shall pay to the successful party all costs and expenses, including, without limitation, reasonable attorneys’ fees, incurred therein by the
successful party, all of which shall be included in and as a part of the judgment or award rendered in such dispute, litigation or arbitration. For purposes of this Lease, the term “successful party” shall mean the party which achieves
substantially the relief sought, whether by judgment, order, settlement or otherwise. 
 25. WAIVER OF JURY TRIAL. EACH PARTY HEREBY
KNOWINGLY AND VOLUNTARILY WAIVES ITS RIGHTS TO A JURY TRIAL IN ANY ACTION, SUIT OR PROCEEDING RELATING TO, ARISING UNDER OR IN CONNECTION WITH THIS LEASE AND ANY OTHER DOCUMENT, AGREEMENT OR INSTRUMENT EXECUTED AND/OR DELIVERED IN CONNECTION WITH
THE FOREGOING. 
 26. TRUTH IN LEASING. TRUTH IN LEASING STATEMENT UNDER SECTION 91.23 OF THE FEDERAL AVIATION REGULATIONS: 

(a) LESSOR HEREBY CERTIFIES THAT THE AIRCRAFT HAS BEEN MAINTAINED AND INSPECTED UNDER FAR PART 91 DURING THE 12-MONTH PERIOD PRECEDING THE
DATE OF EXECUTION OF THIS LEASE. THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FAR PART 91 FOR ALL OPERATIONS TO BE CONDUCTED DURING LEASE PERIODS UNDER THIS LEASE. 

(b) LESSEE HEREBY CERTIFIES THAT IT IS RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT DURING ALL LEASE PERIODS UNDER THIS LEASE. 

(c) EACH OF LESSOR AND LESSEE CERTIFIES THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS.

  
 6 

 (d) EACH OF LESSOR AND LESSEE UNDERSTANDS THAT AN EXPLANATION OF THE FACTORS BEARING ON
OPERATIONAL CONTROL AND THE PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. 

Instructions for Compliance with “Truth In Leasing” Requirements are attached hereto as Schedule 2. 

(SIGNATURE PAGE FOLLOWS) 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have executed this Aircraft Dry Lease Agreement this
29th day of June, 2018, effective as of the date first written above. 
  

			
	LESSOR:
	
	QUART 2C, LLC
		
	By:	 	/s/ James L. Dolan
		 	Name: James L. Dolan
		 	Title: Managing Member
	
	LESSEE:
	
	MSG SPORTS & ENTERTAINMENT, LLC
		
	By:	 	/s/ Donna Coleman
		 	Name: Donna Coleman
		 	Title: EVP & Chief Financial Officer

  
 8 

 SCHEDULE 1 

Rent per block hour: An amount equal to actual fuel costs for each Lessee flight during such Lease Period (including any deadheads, ferry and repositioning
flights). For this purpose, a flight shall be measured in hours and tenths of hours from the time the Aircraft moves for purposes of flight at the departure airport to the time the Aircraft comes to stop at the arrival airport. 

Additional Rent per block hour for True-Up Hours: An amount to be determined to cover variable costs (e.g., maintenance, support, etc.) of the Aircraft for
such True-Up Hours (less any amounts previously paid for such True-Up Hours). 

  
 S-1 

 SCHEDULE 2 

INSTRUCTIONS FOR COMPLIANCE WITH “TRUTH IN LEASING” REQUIREMENTS 

1. Mail a copy of this Lease to the following address via certified mail, return receipt requested, immediately upon execution of this Lease (14 C.F.R. 91.23
requires that the copy be sent within twenty-four (24) hours after it is signed): 
 Federal Aviation Administration 

Aircraft Registration Branch 
 ATTN: Technical Section 

P.O. Box 25724 
 Oklahoma City, Oklahoma 73125 

2. Telephone or fax the nearest Flight Standards District Office at least forty-eight (48) hours prior to the first flight made under this Lease. 

3. Carry a copy of this Lease in the Aircraft at all times when the Aircraft is being operated under this Lease. 

  
 S-2EX-10.33

 Exhibit 10.33 

AIRCRAFT SUPPORT SERVICES AGREEMENT 
 THIS
AIRCRAFT SUPPORT SERVICES AGREEMENT (this “Agreement”) is entered into effective as of December 17, 2018 by and between MSG SPORTS & ENTERTAINMENT, LLC a Delaware limited liability company with an
office at 2 Pennsylvania Plaza, New York 10121 (“MSG”), on the one hand; and the following operators as follows: Charles F. Dolan, Thomas C. Dolan, Deborah Dolan-Sweeney, Patrick F. Dolan, Marianne Dolan Weber, and Kathleen M.
Dolan, each an individual, with their address at c/o Dolan Family Office, LLC, 340 Crossways Park Drive, Woodbury, New York 11797 (each a “Client,” and collectively, “Client” or “Clients” as
appropriate), on the other hand. 
 MSG will act as Clients’ agent to support Clients’ operation of the aircraft described below (the
“Aircraft”) in accordance with the terms and conditions of this Agreement. 
 SPECIFIC TERMS 

 

	I.	 Aircraft Identification 

 

	 	•	 	 Aircraft Make and
Model:                Gulfstream Aerospace GV-SP (G550) 

 

	 	•	 	 Manufacturer’s Serial Number:        5043 

 

	 	•	 	 Aircraft Registration Number:          N107VS

  

	II.	 Agency Fee and Flight Support Personnel Costs 

Monthly Agency Fee: $14,584 

Flight Support Personnel Costs: As set forth in Section 2.1 of the General Terms below. 

 

	III.	 Term 

  

			
	Effective Date:	  	December 17, 2018

			
		
	Expiration Date of the Term:	  	June 30, 2019; and thereafter shall automatically renew for successive one-year terms unless either party provides written notice not less than 30 days prior to the expiration of the
current term.

  

	IV.	 Notices 

  

			
	 To   Charles F. Dolan,

Thomas C. Dolan,
 Patrick
F. Dolan, or
 Deborah Dolan-Sweeney:
  

c/o Dolan Family Office LLC
 340 Crossways Park Drive

Woodbury, NY 11797
 Attn: Dennis H. Javer

Telephone:    (516) 226-1188

Fax:    (516) 226-1155

Email:    officer@dfollc.com
	  	 To MSG:
  

MSG Sports & Entertainment, LLC
 c/o The Madison Square
Garden Company
 2 Pennsylvania Plaza
 New York, New York
10121
 Attention: Phil Stang
 Telephone: (212) 465-5930
 Fax: (212) 465-6011

Email: Phil.Stang@msg.com

		
		  	and
		
	 To   Marianne Dolan Weber, or
Kathleen M. Dolan,

 
 c/o MLC Ventures, LLC

34 Acorn Lane
 Yorktown Heights, NY 10598

Attn: Rich Baccari
 Telephone:    (914) 804-5478
 Email:    rich@rgbcpa.com
	  	 MSG Sports & Entertainment, LLC
 c/o
The Madison Square Garden Company
 Hangar 5 Republic Airport

Farmingdale, New York 11735
 Attention: Phil Stang

Telephone: (212) 465-5900

Email: Phil.Stang@msg.com

			
		
		  	and
		
	 All Notices to any Client shall also include a Notice to:

Aero Law Group
 11120 NE 2nd Street Suite 100
 Bellevue, Washington 98004-8332

Attn: Nathan R. Pietila
 Telephone:    (425) 456-1800
 Email:    pietilanr@law.aero
	  	 MSG Sports & Entertainment, LLC
 c/o
The Madison Square Garden Company
 2 Pennsylvania Plaza
 New
York, New York 10121
 Attn: General Counsel
 Telephone: (212) 465-6000
 Fax: (516) 908-4195

  

	V.	 Aircraft Operating Base 

The Aircraft will be based at Republic Airport, Hangar 5, Farmingdale, New York or such other location as Clients and MSG may mutually
agree (the “Operating Base”). 
 GENERAL TERMS 
  

	1.	 Support 

  

	1.1.	 Primary Staff. The parties acknowledge that the primary staff (pilots and/or mechanics) for the Aircraft
(the “Primary Staff”) shall be employed by Clients or an affiliate of Client, and supervised by both Clients and MSG. The Primary Staff shall also from time to time perform scheduling of the Aircraft, oversee maintenance of the
Aircraft and perform certain other administrative services. MSG shall perform such services as set forth below to the extent not performed by the Primary Staff, or upon request of Clients. Any costs associated with the Primary Staff shall be the
responsibility of Clients and shall be paid in accordance with Section 8.5; provided, that, Clients may elect to have MSG bear the cost of such Primary Staff, to be billed in accordance with Section 8.5 and “Exhibit D –
Allocation Agreement Among Owner and Operator to the Non-Exclusive Aircraft Dry Lease Agreement” between the Clients. 

 

	1.2.	 Support Services. In consideration of the fees paid by Client, MSG will act as Clients’ agent to
perform the following functions on behalf of Clients: 

  

	 	(a)	 Employment or engagement and supervision of supervisory, flight and maintenance personnel for the Aircraft,
except that MSG shall only be responsible for general operational oversight of the Primary Staff; 

  

	 	(b)	 Aircraft maintenance at the Operating Base, maintenance coordination at contract facilities, and related
maintenance support functions; 

  

	 	(c)	 Advice regarding insurance for the Aircraft; 

 

	 	(d)	 FAA liaison and compliance, record keeping and reporting; 

 

	 	(e)	 Aircraft hangar facilities (including office and shop facilities) at the Operating Base (at Client’s
request) and other airport locations, as required; 

  

	 	(f)	 Record keeping, reporting, budgeting, payment on behalf of Clients of Aircraft-related invoices to the extent
not paid directly by Clients and other administrative requirements; 

  

	 	(g)	 Aircraft, passenger, and Flight Support Personnel (as defined in Section 2.1) scheduling support services
for Clients and Clients’ passengers; 

  

	 	(h)	 Negotiation and management of third-party contracts necessary for the operation of the Aircraft; and

  

	 	(i)	 Supervision, on behalf of Clients, of the operation and maintenance of the Aircraft by Clients.

  

	1.3.	 Part 91 Operations. All flight operations by Clients under this Agreement will be conducted under Part
91 of the Federal Aviation Regulations, as amended (the “FAR’s”), and in accordance with any other laws and rules pertaining to the operation of the Aircraft. Clients acknowledge that services to be provided by MSG to Clients
under this Agreement are intended to assist Clients in the operation by Clients of its Aircraft under Part 91 of the FAR’s in the conduct of Clients’ business, and shall be undertaken by MSG consistent with such intentions and only for
such purposes. 

  
 2 

	1.4.	 Operational Control. It is understood that Client leases the Aircraft to MSG pursuant to a non-exclusive Aircraft Dry Lease Agreement (the “Lease”). Pursuant to the Lease and in compliance with Part 91 of the FAR’s, at all times during the Term of this Agreement, each Client or, when
MSG is using the Aircraft, MSG, will have and retain exclusive operational control, and exclusive possession, command and control, of the Aircraft. Subject to Section 5 hereof, each Client or MSG, when MSG is using the Aircraft, will have and
retain complete and exclusive responsibility for scheduling, dispatching and flight following of the Aircraft on all of its flights conducted under the Lease and this Agreement, which responsibility includes the sole and exclusive right over
initiating, conducting and terminating any such flights, subject to the pilot-in-command’s authority for all safety-of-flight matters. Each Client or, when MSG is using the Aircraft, MSG will have complete and absolute control of the crewmembers in preparation for and in connection with the operation of all of its
flights conducted under the Lease and this Agreement. 

  

	2.	 Personnel 

  

	2.1.	 Support Services Personnel and Flight Support Personnel. On behalf of Clients, MSG shall obtain
the services of a fully-qualified (i) support services staff, including flight administration, accounting and dispatch personnel, for the Aircraft (“Support Services Personnel”) and (ii) pilots (“Pilots”),
mechanics and flight attendants for the Aircraft (the Primary Staff, Pilots, mechanics and flight attendants, collectively, the “Flight Support Personnel” and, together with the Support Services Personnel, the
“Personnel”). Personnel will be appropriately certified, rated and trained as required by the FAR’s and the insurance required by Section 9. All Personnel (other than Primary Staff) will be employed by MSG and carried on
MSG’s payroll, and MSG shall be responsible for and shall timely pay and withhold all payroll and employment-related taxes (including, without limitation, Social Security, Medicare and unemployment taxes) relating to such Personnel who are MSG
employees, and shall timely file returns with respect to such taxes with proper taxing authorities. Clients shall reimburse MSG in accordance with Section 8.5 for the entire cost of (a) salary, benefits and employer payroll taxes and
(b) all training and testing, as applicable, of two (2) Pilots, one (1) flight attendant, one and one half (1 1⁄2) maintenance personnel, and
one half (1⁄2) administrative personnel (the costs set forth in this sentence shall collectively be referred to as “Flight Support Personnel
Costs”). To the extent MSG’s expenses for Flight Support Personnel Costs increase or decrease, the Flight Support Personnel Costs shall be increased or decreased by the same percentage amount. Clients will also reimburse MSG for
third-party fees (e.g., fees payable to recruiters or similar fees) paid in connection with retention of its allocated percentage of Flight Support Personnel being hired by MSG to support the Aircraft, with such allocated percentage determined by
comparing to the total flight support personnel hired by MSG pursuant to the Related Agreements (as defined in Section 13.10 below) and Clients’ Flight Support Personnel who are MSG Employees. 

 

	2.2.	 Availability. Flight Support Personnel will be available, as required, to support the flight schedule of
the Aircraft. If Flight Support Personnel are unable to support a requested flight due to such circumstances as sickness, training, vacation, personal emergency, or crew duty limits, MSG will use commercially reasonable efforts to obtain the
services of substitute personnel, on behalf of Clients, meeting the standards set forth in this Agreement. Clients acknowledge that the services of substitute qualified personnel may be utilized, as required, to support the Aircraft’s flight
schedule, and that applicable FAR’s, Clients’ operations and other manuals, and MSG’s crew duty limits will be used to determine when Flight Support Personnel relief is required. Clients will be allocated incremental out-of-pocket cost of substitute personnel as follows: 33% of substitute pilot costs; 33% of substitute flight attendant costs; and 25% of substitute maintenance costs; and
such amounts shall be paid in accordance with Section 8.5. 

  

	2.3.	 Monitoring and Reviews. On behalf of Clients, MSG will monitor the qualifications and performance of
Flight Support Personnel through a process of record keeping, performance reviews, direct supervision and flight checks. Client will provide reasonable access to the Aircraft, subject to Client’s prior permission, for Support Services Personnel
to conduct required training and flight checks to observe Flight Support Personnel performance. 

  

	2.4.	 Termination or Replacement. MSG reserves the right to terminate or replace Personnel who are MSG
employees for any reason. If the credentials or performance of any Personnel who are MSG employees are or become unsatisfactory to Clients, MSG agrees that upon notice to that effect from Clients, it shall consider in good faith whether to replace
such Personnel with another qualified individual. 

  

	3.	 Flight Support Personnel Training and Qualification 

 

	3.1.	 Training. MSG, on behalf of Clients, will conduct or contract for training for Flight Support Personnel
that meets or exceeds the requirements of the FAR’s governing the type of operation being conducted. Training will include, but not be limited to: 

  

	 	(a)	 Pilots: (i) initial aircraft qualification, if required; (ii) Aircraft-specific recurrent
training; (iii) policy and procedures recurrent training; (iv) emergency situations training; and (v) professional qualifications enhancement training, as required, such as cockpit resource management, international operations, and
cabin medical safety. 

  

	 	(b)	 Mechanics: (i) initial aircraft qualification, if required; (ii) biennial Aircraft-specific
recurrent training; and (iii) biennial system-specific recurrent training (engines, avionics, etc.). 

  

  
 3 

	 	(c)	 Flight Attendants: (i) initial qualification training, if required; (ii) policy and procedures
training; (iii) cabin medical training; and (iv) emergency situations training. 

  

	3.2.	 Training Flights. Clients shall make available at their expense a reasonable amount of Aircraft time to
accomplish Pilot including Primary Staff, as applicable training, proficiency checks and line checks as required by Clients’ operations and other manuals and the FAR’s; provided, however, that simulators shall be used to the extent
practicable. In addition to required FAA pilot checkrides, Support Services Personnel will observe line operation of Flight Support Personnel to confirm crew performance and adherence to MSG’s company procedures and the requirements of the
operations and other manuals. Client will provide reasonable access to the Aircraft, subject to Client’s prior permission, for Support Services Personnel to conduct this observation. MSG will maintain a current training record for Flight
Support Personnel documenting satisfactory completion of FAA and MSG training and currency requirements. 

  

	4.	 Aircraft Maintenance 

 

	4.1.	 Maintenance Program. On Clients’ behalf and at Clients’ expense, MSG will cause the Aircraft
to be enrolled in an FAA-approved inspection program or the manufacturer’s recommended maintenance program under Part 91 of the FAR’s, and will conduct, contract for and/or supervise Aircraft
maintenance services to cause the Aircraft to be maintained in accordance with the requirements of the approved inspection program and the FAR’s. 

  

	4.2.	 Minimum Equipment List. On Clients’ behalf, MSG will obtain an FAA approved Minimum Equipment List
(MEL) for the Aircraft. Any costs associated with the MEL shall be the responsibility of Clients and shall be paid in accordance with Section 8.5. 

  

	4.3.	 Records. On Clients’ behalf, MSG will maintain records on the Aircraft, engines and systems in
accordance with the applicable FAR’s, the requirements of the maintenance and other manuals and MSG’s maintenance procedures, all subject to the terms of Section 6.3. 

 

	4.4.	 Maintenance Scheduling. Clients will cooperate with MSG to schedule all maintenance requirements. MSG
will schedule maintenance, to the extent practicable, to minimize conflicts with Clients’ use of the Aircraft. MSG will keep Clients apprised of the Aircraft’s maintenance schedule. 

 

	4.5.	 Maintenance Service Plan. On Clients’ behalf, MSG shall provide any periodic reports required in
order to maintain in full force and effect any maintenance service plan covering the Aircraft or any of its equipment. Clients shall maintain each such program contract in full force and effect. All amounts payable under such contracts shall be the
responsibility of Clients and shall be paid in accordance with Section 8.5. 

  

	4.6.	 Appointment as Agent. Clients appoint MSG as their agent for the purpose of executing, for and on behalf
of Clients, any documentation required in connection with any maintenance program, maintenance service plan and/or maintenance inspection agreements as may be necessary in order for MSG to fulfill its maintenance obligations under this Agreement.
Except in the case of MSG’s gross negligence or willful misconduct, Clients agree to indemnify and hold MSG harmless from and against any claims, damages, losses and expenses arising pursuant to any maintenance program, maintenance service plan
and/or maintenance inspection agreements entered into in accordance with the terms of this Agreement. 

  

	5.	 Flight Scheduling 

 

	5.1.	 Services. On behalf of Clients, MSG will perform the following services related to scheduling by Clients
of the Aircraft: 

  

	 	(a)	 Assist Client in scheduling the Aircraft; 

 

	 	(b)	 Receive trip notices from Client and produce an itinerary for each trip giving the pertinent details of the
trip; 

  

	 	(c)	 Arrange ground transportation requirements for Aircraft passengers; 

 

	 	(d)	 Schedule Flight Support Personnel; 

 

	 	(e)	 Arrange for Aircraft catering per Client’s request; 

 

	 	(f)	 Arrange for landing permits, clearances, and ground handling for domestic and international destinations;

  

	 	(g)	 Coordinate the Aircraft’s movements to support Client’s travel schedule; and 

 

	 	(h)	 In the event that the Aircraft is unavailable for Client’s use or upon specific request by Client, seek
trip conflict resolution with all parties. When this is not feasible arrange for chartering of substitute aircraft with Client’s approval. 

  

	5.2.	 Hours of Service. MSG will provide the above-listed services twenty-four (24) hours per day, seven
(7) days per week. 

  

	5.3.	 Client Information. Clients will give MSG the most up-to-date and complete information available on the Aircraft’s proposed travel schedule. MSG agrees to hold in confidence any information that it may gain regarding Clients’ travel, business and
security arrangements, subject in all respects to applicable laws and regulations. 

  

  
 4 

	6.	 Records and Administration 

 

	6.1.	 Record Keeping. MSG will maintain facilities and personnel at its office for Aircraft record keeping,
operations supervision, scheduling assistance, and accounting support. On behalf of Client, MSG will keep all flight, passenger, maintenance, operational, logbook, tax, and cost records up to date and in accordance with all of the requirements of
the FAR’ s, good accounting practices, and all other applicable laws and regulations. 

  

	6.2.	 Reports. MSG will supply Clients with monthly reports summarizing financial and flight activity and such
other information as Clients may reasonably request, including, but not limited to, providing a year-end accounting of aircraft usage as may be required by any aircraft dry lease agreement (or comparable
agreement). 

  

	6.3.	 Record Retention. All records pertaining to the Aircraft and the performance of services hereunder will
be open for inspection and audit by Clients at MSG’s office upon not less than five (5) days’ written notice throughout the Term, and for the period ending four (4) years after the termination or expiration hereof or for so long
as such records are required to be retained in accordance with MSG’s records retention policy, whichever is later. MSG will not destroy such records prior to the time when Clients’ right to inspect and audit terminates. The provisions of
this Section 6.3 will survive the termination or expiration of this Agreement. 

  

	7.	 Hangar at Operating Base 

 

	7.1.	 Hangarage. MSG will provide Clients with appropriate hangar space (including office and shop space,
internet access and access to telephones) at the Aircraft’s Operating Base (as specified in Section V of the Specific Terms) for the Aircraft. Clients shall be responsible for their pro rata share of the total cost of MSG’s hangar rent and
hangar maintenance/janitorial costs (including any taxes and other fees payable under the hangar lease, such as utilities) based on the square footage required for all of Clients’ aircraft (whether or not such aircraft is under management by
MSG) compared to the total square footage of all aircraft of Clients, MSG and clients of Related Agreements, for hangarage maintained by MSG at the Operating Base (the “Hangar Fee”). To the extent MSG’s rent and/or other lease
payments increase or decrease, the Hangar Fee shall be increased or decreased by the same percentage amount. In the event there is a change in circumstances relating to hangarage, the parties agree negotiate in good faith to readjust the total cost
to make such cost equitable to all parties. 

  

	7.2.	 Provisioning. MSG will provision the Operating Base to support the operation and maintenance of the
Aircraft. 

  

	8.	 Fees, Expenses, Deposits and Billing Procedures 

 

	8.1.	 Agency Fee: Staff Costs; Hangar Fee. The Monthly Agency Fee to be charged to Clients specified in
Section II of the Specific Terms, the Flight Support Personnel Costs, and the Hangar Fee will be billed to and payable by Clients in monthly installments in advance. The Monthly Agency Fee shall be increased each December during the term of this
Agreement, commencing with the calendar month ending December 31, 2019, by 4% or such higher amount as mutually agreed between Clients and MSG. 

  

	8.2.	 Insurance Expense: Taxes. Clients shall pay directly the cost of the insurance coverage required to be
maintained by Clients under Section 9; provided, that, Clients may elect to have MSG bear the cost of such insurance, to be billed in accordance with Section 8.5 and “Exhibit D – Allocation Agreement Among Owner and Operator to
the Non-Exclusive Aircraft Dry Lease Agreement” between the Clients. Clients shall be responsible for the payment of any Federal, state, local or other governmental taxes, charges or assessments imposed
in connection with this Agreement, other than income or franchise taxes imposed on MSG, and shall reimburse MSG for any such tax, charge or assessment which is imposed on it by any governmental agency. Clients shall be responsible to MSG for one
hundred percent (100%) of any IRC Section 4261 Federal Transportation Excise Taxes (including any penalties or interest) if imposed by the Internal Revenue Service with respect to any services provided or payments made under this Agreement. The
provisions of this Section 8.2 will survive the termination or expiration of this Agreement. 

  

	8.3.	 Operating Expenses. Clients shall be responsible for all Operating Expenses relating to the Aircraft (to
be paid in accordance with Section 8.5) which shall be passed through without markup and net of all available discounts and credits. “Operating Expenses” include, but are not limited to, the following items attributable to each
Clients’ specific trip expenses: 

  

	 	(a)	 Fuel, oil, and additives; 

 

	 	(b)	 Replacement and consumable parts (including shipping costs and core charges for parts and components),
maintenance labor (other than the cost of maintenance labor performed by Flight Support Personnel), and third-party service fees for technical support of the Aircraft; 

 

	 	(c)	 Engine, auxiliary power unit and airframe maintenance service plan fees, as applicable, and all other expenses
under Section 4; 

  

	 	(d)	 Landing, parking, handling, customs, airways and overflight fees, hangarage fees at locations other than the
Operating Base, deicing fees, and computer flight plans; 

  
 5 

	 	(e)	 Navigation, operations, and maintenance publications; 

 

	 	(f)	 Catering, supplies, and in-flight entertainment materials;

  

	 	(g)	 Personnel travel expenses incurred in support of Client’s operation of the Aircraft;

  

	 	(h)	 Communications charges and outside computer services related to Aircraft operations and maintenance;

  

	 	(i)	 Passenger ground transportation; and 

 

	 	(j)	 Substitute flight support personnel in accordance with Section 2.2. 

 

	8.4.	 Non-recurring Expenses.
Non-recurring Expenses relating specifically to the Aircraft and as set forth in Section 5.1(h) shall be the responsibility of Clients (to be paid in accordance with Section 8.5) and shall be passed
through without markup and net of all available discounts and credits. “Non-recurring Expenses” include, but are not limited to, such items as Aircraft paint and refurbishing, major
maintenance items such as engine overhaul and airframe modifications, maintenance ground support equipment, initial spare parts provisioning and inventories, office and shop equipment, and communications and computer equipment, at the Operating
Base. 

  

	8.5.	 Payment of Expenses. To the extent reasonably practicable, Clients will pay all amounts for which it is
responsible under this Agreement directly to the applicable vendor, supplier or provider. Promptly after execution of this Agreement, Clients agree to maintain with MSG an appropriate agreed-upon advance deposit, to be applied by MSG against any
amounts payable by Clients under this Agreement. To the extent MSG incurs any such expenses on Client’s behalf, MSG will use the funds available pursuant to the advance deposit to pay such expenses, and within twenty (20) days after the
end of each calendar month during the Term, commencing with the calendar month ending January 31, 2019, MSG will issue invoices detailing all charges reasonably and properly incurred on Client’s behalf pursuant to the terms of this
Agreement for that calendar month and the amount required to replenish the advance deposit to the agreed amount. Invoices will be due thirty (30) days from date of receipt. All goods, support services, parts, labor, fuel, materials and any
other items purchased by MSG on behalf of Client will be passed on to Client at MSG’s actual cost, with no markup, rebate, commission or other fee received or retained by MSG. MSG will attempt to secure discounts on all purchases made on behalf
of Client, and such discounts will be included in any charges from MSG to Client. MSG will be provided with a copy of Exhibit D – Allocation Agreement Among Owner and Operator to the Non-Exclusive
Aircraft Dry Lease Agreement between the Clients and will invoice each Client in accordance with its allocated share. 

  

	8.6.	 Severance of Personnel. In the event that (a) this Agreement is terminated by Clients, including,
but not limited to, termination pursuant to Section 10.1(c) below, (b) Client suspend their flights of the Aircraft for a period longer than three (3) months, or (c) this Agreement is not renewed in accordance with its terms,
then Clients shall be responsible to reimburse MSG for any amounts paid to Personnel in accordance with MSG’s then effective severance policy whose employment by MSG is terminated as a result thereof. The provisions of this Section 8.6
will survive the termination or expiration of this Agreement. 

  

	8.7.	 Post Termination Expenses. Within ninety (90) days after the termination or expiration of this
Agreement, a full accounting shall be made between the parties and all accounts settled between them. In no event shall any termination affect the rights and obligations of the parties arising prior to the effective date of such termination. From
and after the date of the expiration or termination of this Agreement, Clients will promptly reimburse MSG upon receipt of invoices from time to time until all remaining Aircraft expenses reasonably and properly incurred by MSG on Clients’
behalf pursuant to the terms of this Agreement are paid. The provisions of this Section 8.7 will survive the termination or expiration of this Agreement. 

 

	8.8.	 Overdue Amounts. Overdue amounts payable pursuant to this Agreement shall bear interest at a monthly
rate equal to the lesser of 1% or the highest lawful rate allowable under applicable law. The provisions of this Section 8.8 will survive the termination or expiration of this Agreement. 

 

	9.	 Insurance and Indemnity 

 

	9.1.	 General. During the Term of this Agreement, and notwithstanding anything in this Agreement to the
contrary, Clients will procure and maintain or cause to be procured and maintained at its sole cost and expense aircraft insurance (the “Client’s Insurance Policy”) that satisfies all of the requirements of this Section 9.
Clients shall provide: (i) all risk, both ground and in-flight hull, including hull war risks, insurance in an amount equal to the most recent appraised fair market value of the Aircraft; and
(ii) liability coverage covering passengers, non-passengers, third party liability (including war risk AV52) and property damage of not less than two hundred fifty million ($250,000,000) United States
dollars for each occurrence but sublimited to twenty five million ($25,000,000) United States dollars for each occurrence and aggregate with respect to Personal Injury Liability. Clients will work with MSG to coordinate the Client’s Insurance
Policy. 

  
 6 

	9.2.	 Policy Provisions. Client’s Insurance Policy will provide that: 

 

	 	(a)	 MSG and its affiliates and each of their respective members, managers, shareholders, officers, directors,
partners, employees, agents, licensees and guests are designated as additional insureds (without responsibility for premiums) with respect to the liability coverage; 

 

	 	(b)	 The insurer waives any right of set-off and any right of subrogation
against any of the additional insureds; 

  

	 	(c)	 No cancellation or substantial change in coverage of or failure to renew the Client’s Insurance Policy
shall be effective as to the additional insureds for thirty (30) days (seven (7) days, in the case of war risk or allied perils) after receipt by MSG of written notice from the insurer of any such cancellation or substantial change in
coverage of the policy; 

  

	 	(d)	 All coverages will be primary, not subject to any co-insurance clause,
not contributory or subject to offset with respect to any other policies in force; 

  

	 	(e)	 The insurance will include a severability of interest clause providing that Client’s Insurance Policy will
operate in the same manner to give each insured the same protection as if there were a separate policy issued to each insured except for the limit of liability; and 

 

	 	(f)	 The “Approved Pilots” section will require any appropriately rated two pilot flight crew consisting
of pilots approved by the Chief Pilot of the Named Insured or MSG Aviation, LLC or their designee, and the “Territory” section will provide Worldwide Coverage 

 

	9.3.	 Certificate of Insurance. On or before the Effective Date, Clients will provide or cause to be provided
to MSG a certificate of insurance evidencing all coverages in compliance with the requirements of this Agreement. 

  

	9.4.	 MSG Insurance. At all times during the Term, MSG, at its own cost and expense, shall maintain (or cause
to be maintained) the following insurance: 

  

	 	(a)	 Workers’ compensation insurance and employer’s liability insurance that provides applicable statutory
benefits for all of MSG’s employees including, without limitation, Personnel who are employees of MSG, performing services pursuant to this Agreement and includes broad form all-states coverage; and

  

	 	(b)	 On airport premises automobile liability insurance in an amount not less than two million ($2,000,000) United
States dollars combined single-limit. 

  

	 	(c)	 Clients and their affiliates and each of their respective members, managers, shareholders, officers, directors,
partners, employees, agents, licensees and guests shall be named as an additional insured on the insurance coverages set forth in Section 9.4(b). The policies described in this Section 9.4 shall be primary and not excess, contributory or
contingent. On or before the Effective Date, MSG shall cause its insurer to provide Clients with insurance certificates showing all coverages in compliance with this Section 9.4. 

 

	9.5.	 Cross Indemnities. Without limiting the respective obligations of MSG and Clients (each, a
“Party”), each Party (in each case, the “Indemnitor”) hereby indemnifies and holds harmless the other Party and its affiliates and their respective officers, directors, partners, employees, shareholders, members and
managers (in each case, collectively, the “Indemnitee”) for any claim, damage, loss, or reasonable expense, including reasonable attorneys’ fees (an “Indemnified Loss”), resulting from bodily injury or property
damage arising out of the ownership, maintenance or use of the Aircraft which results from gross negligence or willful misconduct of such Party; provided, however, that neither Party will be liable for any Indemnified Loss to the extent:

  

	 	(a)	 Such loss is covered by the insurance policies described in this Paragraph 9 (the “Policies”);

  

	 	(b)	 Such loss is covered by the Policies but the amount of such loss exceeds the policy limits specified by
Clients; 

  

	 	(c)	 Such loss consists of expenses incurred in connection with any loss covered in whole or in part by the Policies
but such expenses are not fully covered by the Policies; or 

  

	 	(d)	 Such loss is caused by the gross negligence or willful misconduct of the Indemnitee. 

  
 7 

	9.6.	 LIMITATION ON LIABILITY. EACH PARTY ACKNOWLEDGES AND AGREES THAT: (I) THE PROCEEDS OF INSURANCE TO
WHICH IT IS ENTITLED; (II) ITS RIGHTS TO INDEMNIFICATION FROM THE OTHER PARTY UNDER SECTION 9.5; AND (III) ITS RIGHT TO DIRECT DAMAGES ARISING IN CONTRACT FROM A BREACH OF THE OTHER PARTY’S OBLIGATIONS UNDER THIS AGREEMENT, ARE THE
SOLE REMEDIES FOR ANY DAMAGE, LOSS, OR EXPENSE A RISING OUT OF THIS AGREEMENT OR THE SERVICES PROVIDED (OR OMITTED TO BE PROVIDED) HEREUNDER OR CONTEMPLATED HEREBY. EXCEPT AS EXPRESSLY SET FORTH IN THIS SECTION 9.6, EACH PARTY WAIVES ANY RIGHT
TO RECOVER ANY DAMAGE, LOSS OR EXPENSE ARISING OUT OF THIS AGREEMENT OR THE SERVICES PROVIDED HEREUNDER OR CONTEMPLATED HEREBY. IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR OR HAVE ANY DUTY FOR INDEMNIFICATION OR CONTRIBUTION TO THE OTHER PARTY FOR
ANY CLAIMED INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, OR FOR ANY DAMAGES CONSISTING OF DAMAGES FOR LOSS OF USE, REVENUE, PROFIT, BUSINESS OPPORTUNITIES AND THE LIKE, OR FOR DEPRECIATION OR DIMINUTION IN VALUE OF THE
AIRCRAFT, OR INSURANCE DEDUCTIBLE, EVEN IF THE PARTY HAD BEEN ADVISED, OR KNEW OR SHOULD HAVE KNOWN, OF THE POSSIBILITY OF SUCH DAMAGES. 

  

	9.7.	 Survival. The provisions of Sections 9.5 and 9.6 will survive the termination or expiration of this
Agreement. 

  

	10.	 Duration, Notification, and Termination 

 

	10.1.	 Term. The Term of this Agreement is specified in Section III of the Specific Terms. At any time during
the Term, either party may request that the parties engage in good faith discussions with respect to changes desired by such party in the terms of this Agreement, and if such new terms have not been agreed to by the parties within thirty
(30) days after the date of such request, then either party may terminate this Agreement upon written notice given at least ninety (90) days prior to the effective date of such termination. Notwithstanding the foregoing, this Agreement
shall be terminable in accordance with the following provisions: 

  

	 	(a)	 This Agreement shall terminate, upon written notice from either party to the other, in the event of a total
loss or destruction of the Aircraft, damage to the Aircraft that causes it, in the reasonable opinion of such party, to be irreparable, or theft of the Aircraft. 

 

	 	(b)	 This Agreement shall terminate, effective on not less than ninety (90) days’ prior written notice
from MSG to Client, if MSG will no longer operate a flight support department as of such effective date (which notice shall be given by MSG to Client as soon as reasonably practicable after MSG becomes aware that such is or will become the case).

  

	 	(c)	 MSG acknowledges and agrees that nothing in this Agreement shall affect in any way the right of the owner of
the Aircraft to sell it. In the event that the owner of the Aircraft enters into an agreement to sell the Aircraft, Client shall promptly notify MSG to that effect. This Agreement shall terminate effective as of the later to occur of (i) the
closing of the sale of the Aircraft, or (ii) ninety (90) days after such written notice by Client to MSG; provided, that, if Client purchases a new aircraft, Client may provide written notice to MSG of its intent not to terminate this Agreement
and continue operating under the terms provided herein, subject to reasonable adjustments of fees, allocation of flight support personnel, hangar costs, etc., based on any different needs of such new aircraft. 

 

	10.2.	 Effect of Termination. In the event of a termination of this Agreement, whether as a result of a default
or the expiration of its Term, MSG shall immediately cease its performance hereunder and return the Aircraft at Client’s expense to the custody of Client or its agents or representatives at any airport in the northeastern United States
designated in writing by Client along with all maintenance records, flight logs, manuals, ledgers, etc.; provided, that, MSG agrees that it will continue to provide Client space at the Operating Base for Client’s Aircraft for the lesser of
twelve (12) months from the effective date of such termination, or such time period that MSG retains control of the Operating Base pursuant to an underlying sublease (or comparable agreement), at the same cost as the Hangar Fee provided for
hereunder. Client and MSG agree that in the event of termination, the parties will negotiate in good faith terms of a separate sublease (or comparable agreement) for Client’s Aircraft to be stored at the Operating Base. 

 

	10.3.	 Notices. All notices or other communications delivered or given under this Agreement shall be in writing
and shall be deemed to have been duly given if hand-delivered, sent by certified or registered mail, return receipt requested, or nationally-utilized overnight delivery service, Portable Document Format (“PDF”) or confirmed
facsimile transmission, as the case may be. Such notices shall be addressed to the parties at the addresses set forth in Section IV of the Specific Terms, or to such other address as may be designated by any party in a writing delivered to the other
in the manner set forth in this Section 10.3. Notices sent by certified or registered mail shall be deemed received three (3) business days after being mailed. All other notices shall be deemed received on the date delivered. Routine
communications may be made by e-mail or fax to the addresses set forth herein. 

  

	10.4.	 Default. In addition to the termination provisions set forth in Section 10.1 above, this Agreement
may be terminated immediately by the party not in default (without prejudice to any other rights that such party may have) upon written notice to the defaulting party in the event of any of the following (each, an “Event Default”):

  

	 	(a)	 failure of the defaulting party to make payments due hereunder within ten (10) business days of a notice
from the non-defaulting party that such payment was not timely made when due; 

  
 8 

	 	(b)	 except as provided in Section 10.4(c)-(f), violation or default of any term, obligation or condition of a non-monetary nature set forth in this Agreement, together with a failure to cure within ten (10) days after receipt of written notice of such violation; 

 

	 	(c)	 breach of any material warranty or provision, or falsity of any material representation, made by Clients or MSG
in connection with this Agreement; 

  

	 	(d)	 if the Aircraft is operated by or maintained in violation of any law, regulation, directive or order of any
governmental authority or in violation of any provision of any insurance policy contemplated by this Agreement, unless such violation can reasonably be cured, in which case the defaulting party shall have failed to cure such violation within ten
(10) days after receipt of written notice thereof; 

  

	 	(e)	 lapse of insurance coverage required to be kept in force by the defaulting party; or 

 

	 	(f)	 if MSG or Clients shall make a general assignment for the benefit of creditors, or be declared insolvent or
bankrupt under any bankruptcy, insolvency or other similar law, or commence a voluntary proceeding seeking liquidation, reorganization or other relief under any such law or seeking the appointment of a receiver or liquidator over any substantial
portion of their respective assets. 

  

	11.	 Force Majeure 

 

	11.1.	 General. Neither party will be deemed to be in breach of its obligations hereunder or have any liability
for any delay, cancellation, or damage arising in whole or in part from any act of God, act of nature, acts of civil or military authority, civil unrest, war, terrorism, strike or labor dispute, mechanical failure, lack of essential supplies or
parts, or for any cause, whether similar or dissimilar to any of the foregoing, beyond the reasonable control of such party. The time required for any performance hereunder shall be extended by the duration of any such event(s).

  

	12.	 Liens 

  

	12.1.	 No Liens. MSG shall ensure that no liens, attachments, levies or executions are created or placed
against the Aircraft by MSG or third parties as a result of MSG’s acts or omissions other than third-party liens to be discharged in the ordinary course of business. MSG shall notify Clients promptly upon learning of any liens against the
Aircraft and will forthwith satisfy, bond off or discharge any such liens caused by the acts or omissions of MSG or the breach of MSG of its obligations under this Agreement. 

 

	13.	 Miscellaneous 

 

	13.1.	 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of New York, determined without regard to its conflicts of laws principles. If any provision of this Agreement conflicts with any statute or rule of law of the State of New York or is otherwise unenforceable, such provision shall be deemed
null and void only to the extent of such conflict or unenforceability and shall be deemed separate from and shall not invalidate any other provision of this Agreement. 

 

	13.2.	 Headings. Captions and paragraph headings in this Agreement are inserted only as a matter of
convenience, and in no way define, limit, extend or interpret the scope of this Agreement or of any particular section. 

  

	13.3.	 Modification. This Agreement shall not be modified or amended or any provision waived except by an
instrument in writing signed by authorized representatives of the parties. 

  

	13.4.	 Successors and Assigns. Neither party shall have the right to assign this Agreement without the prior
written consent of the other party; provided, however, that MSG shall have the right, upon notice to Clients, to assign this Agreement to any affiliate of The Madison Square Garden Company. This Agreement shall be binding upon the parties hereto and
their respective heirs, executors, administrators, successors and assigns, and shall inure to the benefit of the parties hereto and their respective heirs, executor’s administrators, successors and permitted assigns. 

 

	13.5.	 Counterparts. This Agreement may for all purposes be executed in several counterparts, each of which
shall be deemed an original, and all such counterparts, taken together, shall constitute the same instrument, even though all parties may not have executed the same counterpart of this Agreement. Each party may transmit its signature by confirmed
facsimile or PDF transmission, and such signatures shall have the same force and effect as an original signature. 

  

	13.6.	 Venue. Any legal action, suit or proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby may be instituted in any state or federal court in the State of New York. Each party waives any objection which such party may now or hereinafter have to the laying of the venue in New York County, New York in any
such action, suit or proceeding, and irrevocably submits to the jurisdiction of any such court in any such action, suit or proceeding. 

  

  
 9 

	13.7.	 Integration. This Agreement sets forth the entire agreement between the parties with respect to the
subject matter hereof and supersedes any and all other agreements, understandings, communications, representations or negotiations, whether oral or written, between the parties with respect to the support services for the Aircraft. There are no
other agreements, representations or warranties, whether oral or written, express or implied, relating to the support services for the Aircraft that are not expressly set forth in this Agreement. 

 

	13.8.	 No Partnership or Joint Venture. Nothing contained in this Agreement will in any way create any
partnership or joint venture relationship between MSG and Clients or be construed as evidence of the intention of the parties to constitute such. 

  

	13.9.	 WAIVER OF JURY TRIAL. EACH PARTY HEREBY KNOWINGLY AND VOLUNTARILY WAIVES ITS RIGHTS TO A JURY TRIAL IN
ANY ACTION, SUIT OR PROCEEDING RELATING TO, ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT AND ANY OTHER DOCUMENT, AGREEMENT OR INSTRUMENT EXECUTED AND/OR DELIVERED IN CONNECTION WITH THE FOREGOING. 

 

	13.10.	 Related Agreements. The parties hereto acknowledge and agree that the terms reflected in this Agreement,
including but not limited to the allocation of certain expenses and fees, are based on the assumption that, in addition to this Agreement, MSG is party to Aircraft Support Services Agreements providing for substantially similar services as those
covered herein with each of JD & the Straight Shot, LLC and Brighid Air, LLC (each such current agreement, or any future amended, restated or replacement agreement, a “Related Agreement”). In the event that any such Related
Agreement is terminated or otherwise expires, and this Agreement shall continue, the parties will work in good faith to revise the terms of this Agreement to reflect updated terms, including but limited to allocation of certain expenses and fees, to
ensure that the terms are equitable to the parties to this Agreement and any remaining Related Agreement. In addition, the parties hereto acknowledge and agree that in the event that factors cause the terms of this Agreement to be economically
unfair to one party, the parties will work together in good faith to adjust these terms to achieve a more equitable arrangement. 

(the remainder of this page has been left blank) 

  
 10 

 IN WITNESS WHEREOF, the parties have executed this Aircraft Support Services Agreement as of the Effective
Date shown in Section III of the Specific Terms. 
  

									
		 	CHARLES F. DOLAN	 		 	MSG SPORTS & ENTERTAINMENT, LLC
					
		 	/s/ Charles F. Dolan	 		 	By:	 	/s/ Donna Coleman
		 	THOMAS C. DOLAN	 		 	 Name:    Donna Coleman

Title:      EVP & Chief Financial Officer

					
		 	/s/ Thomas C. Dolan	 		 		 	
					
		 	DEBORAH DOLAN-SWEENEY	 		 		 	
					
		 	/s/ Deborah Dolan-Sweeney	 		 		 	
					
		 	PATRICK F. DOLAN	 		 		 	
					
		 	/s/ Patrick F. Dolan	 		 		 	
					
		 	MARIANNE DOLAN WEBER	 		 		 	
					
		 	/s/ Marianne Dolan Weber	 		 		 	
					
		 	KATHLEEN M. DOLAN	 		 		 	
					
		 	/s/ Kathleen M. Dolan	 		 		 	

  
 11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]