Document:

EX-10.65

 Exhibit 10.65 

AIRCRAFT DRY LEASE AGREEMENT 

THIS AIRCRAFT DRY LEASE AGREEMENT (this “Agreement”) is made and entered into this the 27th day of February 2015 (the “Effective Date”) between XB Partners LLC, a Delaware limited liability company (“Lessor”) and Blackstone Administrative Services
Partnership L.P., a Delaware limited partnership (“Lessee”) (collectively the “Parties”). 
 W I T N E S
S E T H: 
 WHEREAS, Lessor owns a 2005 Bombardier model CL-600-2B16 (Challenger 604) aircraft, manufacturer’s serial number
5631 aircraft, with FAA Registration number N345XB, as described more fully in Section 1.1 below (the “Aircraft”); and 

WHEREAS, Lessor desires to dry lease the Aircraft to Lessee from time to time on a non-exclusive periodic basis; and Lessee desires to
dry lease the Aircraft from Lessor from time to time. 
 NOW, THEREFORE, in consideration of the promises and the mutual covenants
and undertakings herein contained, the Parties hereto do hereby agree as follows: 
 ARTICLE 1: LEASE AND TERM 

1.1. Lease. Lessor hereby agrees to dry lease to Lessee, from time to time, and Lessee hereby agrees to dry lease from Lessor, from
time to time, one (1) 2005 Bombardier model CL-600-2B16 (Challenger 604) aircraft, manufacturer’s serial number 5631 aircraft, with FAA Registration number N345XB (the “Airframe”), equipped with two (2) GE model
CF34-3B engines bearing manufacturer’s serial numbers SNE950434 and SNE950433 (the “Engines”), together with all components, accessions, systems, appliances, parts, instruments, accessories, furnishings, and any
manufacturer’s or third-party warranties, any manufacturer service programs in connection with the Aircraft and other equipment installed thereon or attached thereto on the date hereof, all specified avionics, equipment, spare parts and loose
equipment and all logs, weight and balance documents, wiring diagrams, manuals and other records and documentation pertaining to the operation and maintenance of such aircraft in Lessor’s possession or under its control (the foregoing, together
with the Airframe and Engines, collectively, the “Aircraft”) to Lessee hereunder. Changes to the U.S. registration mark of the Aircraft shall have no effect on this Agreement. 

1.2. Term and Rental Periods. The Term of this Agreement (“Term”) shall commence on the Effective Date and shall be
effective until the last calendar day of the fifth month following the Effective Date. Lessee may dry lease the Aircraft pursuant to this Agreement for specific periods of time during the Term (“Rental Periods”). No Rental Period
shall be for more than thirty (30) days. 
 ARTICLE 2: RENTAL AND EXPENSES 

2.1. Rental Payment. Lessee agrees to pay to Lessor an hourly rental fee at a rental rate of Four Thousand U.S. Dollars ($4,000.00) per
flight hour (prorated for fractions) of operation during each Rental Period, such rate to be adjusted by mutual agreement during the Term based on fair market pricing considerations, including, but not limited to, changes in fuel prices. Such rental
fees include delays, detours, cancellations caused by 

 
weather, routing, maintenance or other similar occurrences during each Rental Period, except that Lessor, at its sole discretion, may reduce the rental fees in the event of such occurrences. In
addition, Lessee shall pay for a minimum of two (2) hours of Rental Payment on any day during the Rental Period. 
 2.2.
Positioning, Repositioning Charges. Lessee shall be responsible for accepting the Aircraft from Lessor, and returning the Aircraft to Lessor at Teterboro Airport (“Home Base”), or other airport agreed between the Parties. If
Lessee commences or ends its Rental Period at a point other than Home Base, Lessee shall, in Lessor’s sole discretion, be assessed an additional charge equivalent to Lessor’s costs in positioning the Aircraft from Home Base to the delivery
point, or repositioning the Aircraft back to Home Base from the point of return. 
 2.3. Lessee Reimbursement for Incidental Charges.
Lessee shall be responsible for all incidental charges for any flight during the Rental Period, including but not limited to, hangaring and tie down charges away from the Home Base, landing fees, federal excise taxes, airport taxes or similar
charges, customs, immigration and similar charges related to international flights; and any additional insurance premiums required for specific flights during the Rental Period. In the event any such charges are made to Lessor by service providers,
Lessee shall promptly reimburse Lessor for such costs. 
 2.4. Lessor Reimbursement for Certain Charges. Lessor has incorporated the
cost for maintenance and repairs, and fuel costs into the Rental Payment. In the event any charges for fuel or maintenance are paid directly by Lessee, Lessor shall promptly reimburse Lessee for such cost, or deduct as an offset against Rental
Payments such costs. 
 2.5. Invoicing and Payment. Lessor will send Lessee invoices for such payments as are due under this Article
for each Rental Period, using the form attached as Appendix A or other form at Lessor’s discretion. Lessee shall make payment by check or money order payable to “XB Partners LLC” payable upon receipt, or shall wire transfer funds to
the address specified on the invoice. 
 2.6. Calculation of Hours of Operation. For purposes of rental payments, hours of operation
for each Rental Period shall be calculated (1) from the time the Aircraft takes off to the time it lands, and (2) hours of operation shall include flights to return the Aircraft to Lessor at the end of Rental Period. 

2.7. Taxes. All payments, including specifically Rental Payments made by Lessee hereunder, shall be made free and clear of, and without
deduction for, any taxes, levies, imposts, duties, charges, fees, deductions, withholdings, restrictions or conditions now or hereafter imposed by any governmental or taxing authority. Taxes which the Lessee may incur while operating the Aircraft
include, but are not limited to: fuel excise taxes, airport taxes, sales and use taxes, over flight fees or taxes, and customs duties, or other foreign taxes relating to international travel. Notwithstanding the foregoing, Lessee shall only be
liable for taxes on lease payments and not on the value of the Aircraft. 

  
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DRY LEASE - PAGE 2 OF 11 

 2.8. Procedure to Request Rental of Aircraft. Lessee shall make requests for rental of the
Aircraft to Lessor either orally or in writing. Requests should be made as far in advance as possible before the intended commencement of the Rental Period. 

2.9. Availability. Lessor is making the Aircraft available to Lessee for dry lease on an “as available” basis only, and makes
no guarantee or warranty with regard to Aircraft availability. Lessor will, in good faith, attempt to make the Aircraft available when it is not otherwise being used by Lessor, another lessee, or is unavailable for maintenance or other reasons. 

2.10. Non-availability or Delay Due to Unanticipated Causes. Lessor shall promptly notify Lessee in writing if the Aircraft cannot be
delivered for a Rental Period due to an unanticipated delay, such as weather or mechanical related delays. Lessor shall not be responsible for any loss, injury, damage, delay, or cancellation, or any consequential or incidental damages or costs
incurred by Lessee caused by such delay or cancellation. 
 ARTICLE 3: OPERATION OF AIRCRAFT BY LESSEE 

3.1. Operational Control. During each Rental Period, Lessee is and shall be the sole operator of the Aircraft and has sole operational
control of the Aircraft. During each Rental Period, Lessee is responsible for operating the Aircraft in accordance and compliance with all laws, ordinances and regulations relating to the possession, use, operation, or maintenance of the Aircraft,
including, but not limited to, Part 91 of the Federal Aviation Regulations (“FAR”). 
 3.2. Selection of Flight
Crew. Lessee shall select and hire its own flight crew provided that the pilots shall be professionally trained and qualified, shall be familiar with and licensed to operate the Aircraft, and shall have current medical certificates, and
recurrent training. 
 3.3. Care and Use. Lessee shall use and operate the Aircraft in a careful and proper manner. Lessee shall
operate the Aircraft in accordance with the flight manual and all manufacturer’s suggested operating procedures. Lessee shall not operate, use, or maintain the Aircraft in violation of any airworthiness certificate, license, or registration
relating to the Aircraft, or contrary to any law or regulation. 
 3.4. Limits of Operations. Lessee expressly warrants and agrees
that it shall not operate the Aircraft outside the geographic limits set forth in the Insurance Policies (defined below), or otherwise operate the Aircraft in a way that would violate or compromise the Insurance Policies. Lessee shall use the
Aircraft only for and on account of its business, and will not use the Aircraft for the purpose of providing transportation of passengers or cargo in air commerce for compensation or hire (except in accordance with the provisions of FAR 91.501), or
for any illegal purpose. 
 3.5. Documentation. Lessee shall complete required flight logs, maintenance logs, or other recording
entries required by the FAR during any Rental Period. 
 3.6. Maintenance and Repair. Lessor, at its own cost and expense, will
promptly repair or replace all parts, appliances, components, instruments, accessories, and furnishings that are installed in or attached to the Aircraft (herein called “Parts”) that may from time to time become

  
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DRY LEASE - PAGE 3 OF 11 

 
worn out, lost, stolen, destroyed, seized, confiscated, damaged beyond repair, or permanently rendered unfit for use for any reason whatsoever during a Rental Period. Further, Lessor shall
reimburse Lessee for any mechanics liens or other costs incurred by Lessee associated with non-routine repairs or maintenance made during a Rental Period, provided that: (1) such repairs shall be made by an FAA approved repair facility; and
(2) Lessor shall approve in advance such repairs or maintenance. Lessee covenants to repair any damage beyond ordinary wear and tear caused by Lessee’s use of the Aircraft. 

3.7. Right to Inspect. Lessor and its authorized representatives shall, at all reasonable times, have the right to enter the premises
where the Aircraft may be located for the purpose of inspecting and examining the Aircraft, its condition, use and operation, and the books and records of Lessee relating thereto to ensure Lessee’s compliance with its obligations under this
Lease. Notwithstanding the foregoing rights, Lessor has no duty to inspect and shall not incur any liability or obligation by reason of not making any such inspection. 

ARTICLE 4: INSURANCE AND LIABILITY 

4.1. Primary Liability and Property Damage Insurance. Lessor shall maintain in effect, at its own expense, third party Aircraft
liability insurance, passenger legal liability insurance, and property damage liability insurance during the Term in such amounts as are customary for similarly situated aircraft. Each liability policy shall be primary without right of contribution
from any other insurance that is carried by Lessee, and expressly shall provide that all the provisions thereof, except the limits of liability, shall operate in the same manner as if there were a separate policy covering each insured. 

4.2. Insurance Against Physical Damage. Lessor shall maintain in effect, at its own expense, all-risk ground and flight Aircraft hull
insurance covering the Aircraft. Any such insurance shall be during the Term for an amount customary for a similar aircraft. 
 4.3.
Lessee As Named Insured. All insurance policies carried by Lessor in accordance with this Article (the “Insurance Policies”) shall name Lessee as a named insured. 

4.4. Deductible. Any Insurance Policy carried by Lessor in accordance with this Article may be subject to a deductible amount which is
customary under policies insuring similar aircraft similarly situated. Lessor warrants and agrees that in the event of an insurable claim, Lessor will bear the costs up the deductible amount. 

4.5. Additional Insurance for Lessee. Lessee may, at its discretion, obtain additional insurance covering its operation of the
Aircraft. 
 4.6. Certificate of Insurance. Upon request, Lessor shall deliver to Lessee a certificate of insurance evidencing the
insurance required to be maintained by Lessor under this Article. 
 4.7. Mutual Waiver of Liability Claims. Except as specifically
set forth in this Agreement, Lessor and Lessee (the “Parties”) each hereby agree that each shall hold harmless the other Party, and the other Party’s respective officers, directors, agents, employees, servants, attorneys,
insurers, coinsurers, reinsurers, indemnitors, parents, subsidiaries, affiliates, 

  
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DRY LEASE - PAGE 4 OF 11 

 
predecessors, successors, and assigns from and against any and all liabilities, obligations, losses, damages, penalties, claims, actions, suits, costs and expenses, including reasonable legal
fees and expenses, of whatsoever kind and nature including, without limitation, personal injury or death (“Liabilities”), that could be asserted by that Party against the other Party directly or indirectly (including but not limited
to claims raised against that Party by any third-party, employee, agent, or other person or entity not a party to the Agreement) arising out of the lease, sublease, possession, rental, use, condition, operation, transportation, return, storage or
disposition of the Aircraft or any part thereof (including, without limitation, Liabilities in any way relating to or arising out of latent or other defects, whether or not discoverable by a Party or any other person, injury to persons or property,
or strict liability in tort), provided, however, that neither Party shall be required to hold harmless the other Party for Liabilities resulting from the gross negligence or willful misconduct of the other Party. 

ARTICLE 5: WARRANTIES AND DISCLAIMERS 

5.1. Lessor’s Warranty. Lessor warrants that (1) the Aircraft shall be delivered to Lessee in airworthy condition;
(2) the Aircraft is properly registered in accordance with U.S. law; and (3) Lessor is a citizen of the United States of America as set forth in 49 U.S.C Section 40102(15) and the regulations thereunder. 

5.2. Lessor’s Disclaimer of Warranties. EXCEPT AS SPECIFICALLY PROVIDED HEREIN, LESSOR NEITHER MAKES NOR SHALL BE DEEMED TO HAVE
MADE AND HEREBY EXPRESSLY DISCLAIMS, AND LESSEE EXPRESSLY WAIVES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE VALUE, CONDITION, WORKMANSHIP, DESIGN, OPERATION, MERCHANTABILITY OR FITNESS FOR USE FOR A PARTICULAR PURPOSE OF THE
AIRCRAFT, AS TO THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE, AS TO THE ABSENCE OF ANY INFRINGEMENT OF ANY PATENT, TRADEMARK OR COPYRIGHT, AS TO THE ABSENCE OF OBLIGATIONS BASED ON STRICT LIABILITY IN TORT OR ANY OTHER
REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE AIRCRAFT OR ANY PART THEREOF. 
 5.3. Lessee’s
Representation Regarding Selection. Lessee represents and warrants that: (1) it has selected the Aircraft based on its own judgment and disclaims any reliance upon statements or representations not part of this Agreement; and (2) that
the Aircraft is of a size, design and capacity selected by Lessee and is suitable for Lessee’s intended use. 
 5.4. Lessee Warranty
Regarding Operation. Lessee represents and warrants that it shall only operate the Aircraft under the terms, conditions, and restrictions, as set forth in this Agreement. 

ARTICLE 6: MISCELLANEOUS 

6.1. Title. Title to the Aircraft shall remain vested in Lessor during the Lease Term and the Aircraft shall be registered at the FAA
in the name of Lessor. Lessee shall have no right, title or interest in or to the Aircraft except as expressly provided herein and shall take no action that would impair the continued registration of the Aircraft at the FAA in the name of Lessor.
Lessee 

  
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DRY LEASE - PAGE 5 OF 11 

 
shall not file or record this Agreement with the FAA. Lessee shall do or cause to be done any and all acts and things which may be required to perfect and preserve the interest and title of
Lessor to the Aircraft within any jurisdiction in which Lessee may operate the Aircraft, and Lessee shall also do or cause to be done any and all acts and things which may be required under the terms of any other agreement, treaty, convention, pact
or by any practice, customs or understanding involving any country or state in which Lessee may operate, as may be necessary or helpful, or as Lessor may reasonably request, to perfect and preserve the rights of Lessor within the jurisdiction of any
such country or state. 
 6.2. Liens. Except as provided herein, Lessee will not directly or indirectly create, incur, assume or
suffer to exist any liens on or with respect to (1) the Aircraft or any part thereof; (2) Lessor’s title thereto; or (3) any interest of Lessor therein. Lessee will promptly, at its own expense, take such action as may be
necessary to discharge any such lien. Lessee may incur the following liens: (i) the respective rights of Lessor and Lessee as herein provided; (ii) liens created by Lessor; (iii) liens for taxes either not yet due or being contested
by Lessee in good faith; and (iv) inchoate materialmen’s, mechanics’, workmen’s, repairmen’s, employees’ or other like liens arising in the ordinary course of business of Lessee, or Parties acting on behalf of Lessee
insofar as such actions relate to the Aircraft and are not inconsistent with this Agreement, not delinquent, and for the payment of which adequate reserves have been provided. 

6.3. Defaults. 
 (a) Each
of the following events shall constitute an “Event of Default” hereunder (whatever the reason for such event of default and whether it shall be voluntary or involuntary, or come about or be effected by operation of law, or be pursuant to
or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): (1) if Lessee shall fail to pay when due any sum under this Agreement and such failure shall continue
for a period of three business days after oral, facsimile, electronic mail or written notice has been given by Lessor to Lessee; (2) if Lessee shall fail to perform any covenant or agreement contained herein, and such failure shall continue for
a period of fifteen (15) calendar days after notice thereof shall have been given in writing; (3) if any representation or warranty made by Lessee in this Agreement or any agreement, document or certificate delivered by the Lessee in
connection herewith is or shall become incorrect in any material respect; (4) if Lessee shall operate the Aircraft in violation of any applicable law, regulation, rule or order of any governmental authority having jurisdiction thereof or shall
operate the Aircraft when the insurance required hereunder shall not be in effect; (5) if any proceedings shall be commenced under any bankruptcy, insolvency, reorganization, readjustment of debt, receivership or liquidation law or statute of
any jurisdiction; or (6) if any such proceedings shall be instituted against either Party and shall not be withdrawn or terminated within thirty (30) calendar days after their commencement. 

(b) Upon the occurrence of any Event of Default Lessor may, at its option, exercise any or all remedies available at law or in equity,
including, without limitation, any or all of the following remedies, as Lessor in its sole discretion shall elect: (1) by notice in writing to terminate this Agreement immediately, whereupon all rights of the Lessee to the use or possession of
the Aircraft or any part thereof shall absolutely cease and terminate but Lessee 

  
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DRY LEASE - PAGE 6 OF 11 

 
shall remain liable as hereinafter provided; and thereupon Lessee, if so requested by Lessor, shall at its expense promptly return the Aircraft and Aircraft Documentation as required by this
Agreement or Lessor, at its option, may enter upon the premises where the Aircraft or Aircraft Documentation are located and take immediate possession of and remove the same by summary proceedings or otherwise. Lessee specifically authorizes
Lessor’s entry upon any premises where the Aircraft or Aircraft Documentation may be located for the purpose of, and waives any cause of action it may have arising from, a peaceful retaking of the Aircraft or Aircraft Documentation; or
(2) perform or cause to be performed any obligation, covenant or agreement of Lessee hereunder. Lessee agrees to pay all costs and expenses incurred by Lessor for such performance and acknowledges that such performance by Lessor shall not be
deemed to cure said Event of Default. 
 (c) Lessee shall be liable for all costs, charges and expenses, including reasonable legal fees and
disbursements, incurred by Lessor by reason of the occurrence of any Event of Default or the exercise of Lessor’s remedies with respect thereto. No remedy referred to herein is intended to be exclusive, but each shall be cumulative and in
addition to any other remedy referred to above or otherwise available to Lessor at law or in equity. Lessor shall not be deemed to have waived any default, Event of Default or right hereunder unless the same is acknowledged in writing by duly
authorized representative of Lessor. No waiver by Lessor of any default or Event of Default hereunder shall in any way be, or be construed to be, a waiver of any future or subsequent default or Event of Default. The failure or delay of Lessor in
exercising any rights granted it hereunder upon any occurrence of any such right upon the continuation or recurrence of any such contingencies or similar contingencies, and any single or partial exercise of any particular right by Lessor shall not
exhaust the same or constitute a waiver of any other right provided herein. 
 6.4 Successors and Assigns. This Agreement shall be
binding upon Lessor, Lessee, and their respective successors and assigns, except that Lessee may not assign or transfer any of its rights hereunder except with the prior written consent of Lessor. Subject to the foregoing, this Lease shall inure to
the benefit of Lessor and Lessee and their respective successors and assigns. 
 6.5. Notices. All notices and other communications
under this Agreement shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt or refusal to accept receipt) by delivery in person, by facsimile or electronic mail (with a simultaneous confirmation copy sent by
first class mail properly addressed and postage prepaid), or by a reputable overnight courier service, addressed as follows: 
  

							
	If to Lessor:		XB Partners LLC		
			Corporate Trust Center		
			1209 Orange Street		
			Wilmington, Delaware 19801		
			Attn: Mr. Jonathan D. Gray		
			Telephone:		  
		
			Facsimile:		  
		
			Email:		gray@blackstone.com		

  
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DRY LEASE - PAGE 7 OF 11 

							
	If to Lessee:		Blackstone Administrative Services Partnership, LP
			345 Park Avenue		
			New York, NY 10154		
			Attn: John A. Magliano		
			Telephone: (212) 583-5794		
			Facsimile: (212) 583-5692		
			Email: magliano@blackstone.com		

 or at such other address as either Party may designate in writing. Any notice hereunder shall be effective upon delivery. 

6.6. Entire Agreement. This Agreement constitutes the final, complete, and exclusive statement of the terms of the agreement, including
any prior written agreements between the Parties pertaining to the subject matter of this Agreement and supersede all prior and contemporaneous understandings of the Parties pertaining to the matters hereof. 

6.7. Severability. If any provision of this Agreement is found to be prohibited or unenforceable in any jurisdiction, such provision
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. Any such prohibition or unenforceability in one jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. To the extent permitted by applicable law, each Party hereto hereby waives any provision of law that renders any provision hereof prohibited or unenforceable in any respect. 

6.8. Amendments and Modifications. The terms of this Agreement shall not be waived, varied, contradicted, explained, amended or changed
in any other manner except by an instrument in writing, executed by both Parties. 
 6.9. Choice of Law. This Agreement shall in all
respects be governed by, and construed in accordance with, the laws of the State of New York (disregarding any Conflict of Laws rule which might result in the application of the laws of any other jurisdiction), including all matters of construction,
validity, and performance. 
 6.10. Force Majeure. No Party shall be liable for any failure to perform its obligations in connection
with any action described in this Agreement, if such failure results from any act of God, riot, war, civil unrest, flood, earthquake, or other cause beyond such Party’s reasonable control (including any mechanical, electronic, or communications
failure, but excluding failure caused by a Party’s financial condition or negligence). 
 6.11. Execution. This Lease may be
executed in counterparts, each of which when so executed shall be deemed to be an original, and such counterparts together shall constitute one and the same instrument. 

ARTICLE 7: TRUTH IN LEASING 

7.1. Representation Regarding Maintenance. DURING THE LAST TWELVE MONTHS THE AIRCRAFT HAS BEEN MAINTAINED AND INSPECTED UNDER FEDERAL
AVIATION REGULATION PART 91 AND UNDER PART 135 (AS OF 15 MARCH 

  
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DRY LEASE - PAGE 8 OF 11 

 
2013). LESSOR HEREBY CERTIFIES THAT THE AIRCRAFT COMPLIES WITH THE MAINTENANCE AND INSPECTION REQUIREMENTS CONTAINED IN THE ABOVE LISTED FEDERAL AVIATION REGULATION FOR LESSEE’S USE OF THE
AIRCRAFT UNDER THIS LEASE. 
 7.2. Representation Regarding Operational Control. LESSEE, WHOSE NAME AND ADDRESS APPEAR HEREIN, IS
RESPONSIBLE FOR OPERATIONAL CONTROL OF THE AIRCRAFT UNDER THE LEASE. LESSEE HEREBY CERTIFIES THAT IT UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH THE FEDERAL AVIATION REGULATIONS APPLICABLE TO THE AIRCRAFT. 

7.3. Information from FAA. LESSEE UNDERSTANDS THAT AN EXPLANATION OF FACTORS BEARING ON OPERATIONS CONTROL AND PERTINENT FEDERAL
AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE, GENERAL AVIATION DISTRICT OFFICE, OR AIR CARRIER DISTRICT OFFICE. 

7.4. FAA Notification: in accordance with FAR 91.23. The Parties shall take the following actions upon execution of this Agreement:
(1) a copy of this Agreement shall be placed aboard the Aircraft; (2) a copy of this agreement will be mailed to the FAA Aircraft Registration Branch, Attn: Technical Section, P.O. Box 25724, Oklahoma City, OK 73125 within 24 hours of
execution; and (3) the FAA will be notified at least 48 hours prior to the first flight of any aircraft under this Agreement. 

(Signature page follows) 

  
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DRY LEASE - PAGE 9 OF 11 

 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed in their names
and on their behalf by their duly authorized officers, effective as of the Effective Date. 
  

							
			XB Partners LLC		
			
			As Lessor		
				
			By:		 /s/ Hamilton E. James
		
				
			Name:		Hamilton E. James		
				
			Title:		Manager		
			
			Blackstone Administrative Services Partnership, LP		
			
			As Lessee		
				
			By:		 /s/ John Magliano
		
				
			Name:		 John Magliano
		
				
			Title:		 Managing Director
		

  
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DRY LEASE - PAGE 10 OF 11 

 APPENDIX A 

XB Partners LLC 
  

											
									 	INVOICE	  
			To		  
						
					  
						
					  
						
					
									 	Date:                     	  

 Payable: Payable upon receipt 

Ref Contract: Aircraft Dry Lease Agreement between XB Partners LLC and Blackstone Administrative Services Partnership, LP
(“Lease”) dated [            ].[    ], 2015. 

Rental Period:              to
             
  

					
	 Description
	  	Amount	 
		
	1. Rental Payment	  	 	$            	  
	 Rental Fee ($ [        ] per flight hour of operation x
         hours)
	  			
		
	2. Other Costs: (see paragraph 2.3 of Lease)	  	 	$            	  
		
	 Description
	  	Cost	 
		  			
		  			
		  			
		  			
		  			
		  	  
	  
	 
		
	 TOTAL THIS INVOICE
		$	            	  

  
 BLACKSTONE
DRY LEASE - PAGE 11 OF 11EX-10.66

 Exhibit 10.66 

[GSO Form of SMD Agreement] 

As of [Date] 
 [Name] 

Dear [Name]: 
 We are pleased to confirm the
terms relating to your continuing to be a Senior Managing Director (“SMD”) of the Firm (as defined below in this paragraph) effective as of the date hereof (the “Effective Date”). This letter (as from time to time
amended in accordance with its terms and including for all purposes its Schedules, this “SMD Agreement”) set forth the terms of your status as an SMD of, and your association with, Blackstone (as defined below in this paragraph).
“Blackstone” or “Blackstone Entities” means The Blackstone Group L.P. (the “Firm”) and its current and future Affiliates (as defined in Schedule A); provided that the terms
“Blackstone” and “Blackstone Entities” do not include any investment fund affiliated with a Blackstone Entity or any portfolio company or underlying investment of any such investment fund affiliated with a Blackstone Entity. The
limited liability company agreement, limited partnership agreement, or other governing agreement, of any Blackstone Entity, in each case now or hereafter in existence and as amended and/or restated, is herein called such Blackstone Entity’s
“Governing Agreement.” “Active Member” of a Blackstone Entity means a Person who is (i) a SMD and (ii) an active member or partner (excluding a withdrawn, retaining withdrawn or deceased member or partner)
of such Blackstone Entity. In the event the provisions of this SMD Agreement conflict with the provisions of the Non-Competition Agreement (as defined below), the provisions of this SMD Agreement shall prevail. 

1. Title; Reporting. 

(a) While you are associated with Blackstone under this SMD Agreement, and have not given, or been given, notice of termination of such
association, you will be an SMD of the Firm and you, will serve as a member of the Executive Committee of Blackstone. 
 (b) During your
association with Blackstone under this SMD Agreement you will report directly to Hamilton E. James, President and Chief Operating Officer of the Firm, or any successor as President (“HEJ”). 

(c) Subject in each case to compliance with all applicable Blackstone internal procedures and policies governing the exchange of information
between business groups, (i) you will have reasonable access to other firm groups that may assist the Business (as defined below) from time to time as you may reasonably request and (ii) you will make reasonably available yourself and such
other members of the personnel involved in the Business to provide insight and advice to other firm groups with respect to matters related to the Business and Blackstone’s other businesses from time to time as Blackstone may reasonably request.

 2. Distributions; Annual Draw; Benefits; Other Investments. 

(a) Annual Salary/Draw. Effective as of your Effective Date, you initially will be entitled to take a draw at the annual rate of
$350,000 (prorated for any portion of a calendar year in which you are not associated with Blackstone), payable in equal monthly installments against, first, your annual cash bonus and, thereafter, your allocable share of income from Blackstone
Entities. You understand and agree that (x) the amounts and types of your distributions, compensation, profit sharing and benefits remain at all times subject to the sole discretion of Blackstone and are subject to change at any time; and
(y) Blackstone may alter, amend, modify, discontinue or supplement any and all compensation, profit sharing, benefits, policies and programs at any time in its sole discretion. 

 (b) Benefits. You will also receive health care insurance and other benefits related to
such health care insurance comparable to those provided to all SMDs. You hereby acknowledge that, as an SMD, you may be responsible for the payment of premiums and/or similar payments associated with such insurance and other benefits. You will also
receive all other benefits generally available to SMDs of Blackstone from time to time (excluding Stephen A. Schwarzman (“SAS”)), but excluding benefits that are generally available only to SMDs (excluding SAS) within a particular
business or group or one or more geographic regions (including, for example, all SMDs based outside of the United States), including five weeks of annual vacation (prorated for any calendar year in which you are an SMD for less than the entire
calendar year). 
 (c) Units. During your association with Blackstone (in any capacity) and until the expiration of all transfer
restrictions applicable to any interests you may have in any Blackstone entity, including limited partner interests or units you may hold of Blackstone Holdings (as defined in the SMD Non-Competition and Non-Solicitation Agreement, attached hereto
as Schedule B (the “Non-Competition Agreement”)) or The Blackstone Group L.P., respectively, and received pursuant to the terms of the Original Acquisition Agreement or the New Acquisition Agreement (collectively the
“Units”), you agree (on behalf of yourself and any and all estate planning vehicles, partnerships or other legal entities controlled by or affiliated with you that hold Units (“Affiliated Vehicles”)) that all Units
held by you and all such Affiliated Vehicles will only be held, to the extent that such Units of other SMDs generally are so held (excluding SAS), excluding any SMDs who are excluded as a result of their association with (or location within) a
particular business or group or one or more geographic regions (including, for example, all SMDs based outside of the United States)), in an account at Blackstone’s equity plan administrator or otherwise administered by such administrator,
subject in each case to the terms of the Original Acquisition Agreement, the New Acquisition Agreement and any other agreement pursuant to which you receive such Units. 

3. Fund-of-Funds; Side-by-Side Investments. While you remain associated with Blackstone: 

(a) Funds of Funds. You will have the opportunity, but not the obligation, to invest personally in Blackstone’s fund of funds
investment products managed by Blackstone Alternative Asset Management L.P. (or its successor, “BAAM”) or such other Blackstone product offered generally to the SMDs of Blackstone from time to time (excluding SAS), but excluding
products that are generally offered only to SMDs (excluding SAS) within one or more particular businesses, groups or geographic regions (including, for example, all SMDs based outside of the United States) as long as you serve as an SMD, subject to
the same limitations on exclusions from management fees or incentive fees (in whole or in part) that are applicable to such other SMDs with respect to such investments; provided that you invest an amount in such investment products that is
reasonably consistent with amounts invested therein by other similarly-situated SMDs, as determined by Blackstone. 
 (b) Side-by-Side
Allocations. You will be allocated side-by-side investment opportunities (“SBS”) for each election period (subject to pro-ration for any portion of an annual election period in which you are not an SMD). For each annual election
period, the aggregate amount of such allocation shall be divided among the Blackstone funds available to SMDs generally for SBS in proportion, as nearly as practicable, to the amounts of SBS available through the respective funds for such period.
Your allocations shall be made available only if you can demonstrate to Blackstone that you are a “qualified purchaser” as defined under the Securities Act of 1933, as amended. You understand and agree that the amount of your SBS shall
remain at all times subject to the sole discretion of Blackstone and is subject to change at any time, and Blackstone otherwise may alter, amend or discontinue all or any aspect of its SBS program at any time in its sole discretion. 

  
 2 

 (c) Financing Program. Unless otherwise prohibited by applicable law, for so long as the
facilities are available to Blackstone SMDs generally, you will be eligible for consideration to participate in the programs whereby one or more banks provide financing to Blackstone’s SMDs to assist them in funding their general partner
commitments (as described below) and/or optional side-by-side investments that the SMDs elect to make. Your eligibility and your choice to participate in this program is subject to your meeting the relevant bank’s applicable underwriting
requirements. 
 (d) General Partner Commitments. You will be obligated to invest your allocable pro rata share of the Mandatory
Commitment (as defined in the New Acquisition Agreement) on the same basis as other GSO SMDs generally. 
 4. Governing Agreements;
Non-Competition. 
 (a) You acknowledge and agree that you have received and reviewed and are subject to all applicable provisions of
the Blackstone compliance policies, including the Compliance Policies and Procedures Manual, Investment Adviser Compliance Policies and Procedures and its related supplements, and USA Patriot Act Anti-Money Laundering Policies, as well as
Blackstone’s Code of Business Conduct and Ethics (including the Code of Ethics for Financial Professionals, if applicable), GSO Capital Compliance Manual (for GSO SMDs) and the Employee Handbook and Business Continuity Plan (or in the case of
UK-based SMDs, the U.K. AML Manual and U.K. Compliance Manual), a current copy of each of which has been made available to your counsel (collectively, the “Blackstone Compliance Policies”). 

(b) You acknowledge that you have executed the Non-Competition Agreement and agree that the terms thereof are incorporated herein by
reference. 
 (c) You agree to comply with the confidentiality restrictions set forth in the Non-Competition Agreement. 

(d) Subject to Section 5.5 of the Agreement of Limited Partnership of The Blackstone Group L.P., you acknowledge and agree that becoming
a party to this SMD Agreement does not afford you any rights with respect to the management and/or operation of Blackstone. 
 5.
Termination; Resignation. 
 (a) You acknowledge and agree that Blackstone may terminate your service at any time for any reason, or
for no reason at all with or without Cause; provided, however, that Blackstone shall provide you with notice at least ninety days prior to the date of the termination of your service during which Blackstone may elect to place you on paid
leave for all or part of such ninety-day period; provided further that during such ninety-day period, you shall continue to receive your base draw and, subject to applicable law and the applicable benefit’s governing documents, benefits,
subject to (x) offset against any other payments payable to you under this SMD Agreement or the New Acquisition Agreement and (y) the payment of benefits-related premiums, but shall not, except as otherwise provided herein, receive or
participate in any profit sharing or bonus arrangements (including participation in the carried interest program). 
 (b) Notwithstanding
the foregoing, you acknowledge and agree that Blackstone may terminate your services hereunder for Cause in accordance with the terms of Schedule A hereto, including the provision of notice and opportunity to cure. 

  
 3 

 (c) You agree to provide Blackstone with notice of your intention to terminate your service with
Blackstone at least ninety days prior to the date of such termination (the “Notice Period”). Notice pursuant to this Section 5(c) shall be provided to any of the Chief Executive Officer, Chief Operating Officer or Chief Legal
Officer of Blackstone. During the Notice Period, you shall perform any and all duties consistent with your prior duties as directed by Blackstone, in its sole discretion. 

(d) You shall be placed on garden leave status for a period commencing on the day following the conclusion of the ninety-day Notice Period and
continuing for ninety days thereafter (the “Garden Leave Period”). During the Garden Leave Period, you shall continue to receive your base draw and, subject to applicable law and the applicable benefit’s governing documents,
benefits, subject to the payment of related premiums, but shall not receive or participate in any profit sharing or bonus arrangements (including participation in the carried interest program). During the Garden Leave Period, you shall not be
required to carry out any duties for or on behalf of Blackstone. You agree that you will not enter into any employment or other business relationship with any other employer or otherwise prior to the conclusion of the Garden Leave Period.
Blackstone, in its sole discretion, may waive all or any portion of the Garden Leave Period. If the Garden Leave Period is waived in its entirety, your termination shall become effective as of the end of the Notice Period; if the Garden Leave Period
is waived in part, your termination shall become effective at the end of the so modified Garden Leave Period. 
 (e) The provisions of
Sections 5(c) and 5(d) shall not be applicable in instances in which your service with Blackstone is terminated by Blackstone with or without Cause. 

6. Arbitration; Venue. Any dispute, controversy or claim between you and Blackstone, or any of its respective members, partners,
officers, employees or agents, arising out of or concerning the provisions of this SMD Agreement, your service with Blackstone or otherwise concerning any rights, obligations or other aspects of your relationship with Blackstone, shall be finally
resolved in accordance with the provisions of Section VII of the Non-Competition Agreement. Without limiting the foregoing, you acknowledge that a violation on your part of this SMD Agreement would cause irreparable damage to Blackstone.
Accordingly, you agree that Blackstone will be entitled to injunctive relief for any actual or threatened violation of this SMD Agreement in addition to any other remedies it may have. 

7. Successors and Assigns. This SMD Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
predecessors, successors, assigns, heirs, executors, administrators and personal representatives, and each of them, whether so expressed or not, and to the extent provided herein, the affiliates of the parties and Blackstone. This SMD Agreement is
not assignable by you without the prior consent of Blackstone, and any attempted assignment of this SMD Agreement, without such prior consent, shall be void. 

8. Entire Agreement. This SMD Agreement (including the Schedules attached hereto, which is incorporated herein by reference and made a
part hereof) embodies the complete agreement and understanding among the parties with respect to the subject matter hereof and thereof and supersedes and terminates any prior understandings, agreements, term sheets or representations, written or
oral, which may have related to the subject matter hereof or thereof in any way, except for any (i) Governing Agreements or other governing agreements of the general partners or managing members (collectively, “General
Partners”) of Blackstone sponsored investment funds; (ii) any guarantees executed by you prior to the date hereof for the benefit of any limited partners or General Partners of any Blackstone sponsored investment fund in respect of any
“clawback” obligation to such Blackstone sponsored investment fund; and (iii) the Original Acquisition and the New Acquisition Agreement. 

  
 4 

 9. No Implied Duty. Except as otherwise expressly provided in this SMD Agreement, neither
the Blackstone Entities nor any of their members, partners or affiliates will be under any duty, express or implied, of any kind or nature whatsoever to have revenues, earnings, income or carried interest distributions of any particular amount or at
any particular level such that you will be entitled to compensation, earnings, income or distributions of any particular amount, to cause any amount to be available for distribution to any person, or to distribute any amount to any person, or to
maintain your profit sharing percentage at, or raise your profit sharing percentage to, any level, or to retain you as a member or partner of any Blackstone Entity for any period of time or through any particular date that may be necessary to
entitle you to receive any amount. 
 10. Headings. The section headings in this SMD Agreement are for convenience of reference only
and shall in no event affect the meaning or interpretation of this SMD Agreement. 
 11. Modification, Waiver or Consent in Writing.
This SMD Agreement may not be modified or amended except by a writing signed by each of the parties hereto. No waiver of this SMD Agreement or of any promises, obligations or conditions contained herein, or consent granted hereunder, shall be valid
unless in writing and signed by the party against whom such waiver or consent is to be enforced. No delay on the part of any person in exercising any right, remedy or power hereunder shall operate as a waiver thereof, nor shall any waiver on the
part of any person of any such right, remedy or power, nor any single or partial exercise of any such right, remedy or power, preclude any further exercise thereof or the exercise of any other right, remedy or power. 

12. Blackstone Partnership Agreement. This SMD Agreement shall be treated as part of the Blackstone Partnership Agreement for purposes
of Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations. The amounts payable hereunder shall be paid to you in your capacity as a member or partner of the applicable Blackstone Entity and shall
be appropriately reflected on your IRS Schedule(s) K-1. The parties do not intend to create an employer-employee relationship hereby and no amounts payable hereunder shall be treated as compensation paid to an employee for tax or other purposes. You
covenant and agree that you will pay all U.S. federal, state, local and foreign taxes on the amounts payable hereunder that are required by law to be paid by you. 

13. Governing Law. This SMD Agreement shall be governed by and construed in accordance with the laws of the State of New York
applicable to agreements made and to be performed entirely within such State. 
 14. Counterparts. This SMD Agreement may be executed
in any number of counterparts, each of which shall be an original and all of which shall constitute one and the same instrument. 
 15.
Notices. Any notice, consent, demand, request, or other communication given to any Person in connection with this SMD Agreement shall be in writing and shall be deemed to have been given to such Person (x) when delivered personally to
such person or entity or (y), provided that a written acknowledgment of receipt is obtained, five days after being sent by prepaid certified or registered mail, or two days after being sent by a nationally recognized overnight courier, to the
address (if any) specified below for such Person (or to such other address as such Person shall have specified by ten days’ advance notice given in accordance with this Section 15). 

 

			
	If to Blackstone:		The Blackstone Group L.P.
			345 Park Avenue
			New York, New York 10154
			Attn: Stephen A. Schwarzman
			Chairman and Chief Executive Officer

  
 5 

			
		
			and
		
			Hamilton E. James
			President and Chief Operating Officer
		
			with a copy to:
		
			Simpson Thacher & Bartlett LLP
			425 Lexington Avenue
			New York, New York 10017
			Attn: Gregory T. Grogan
		
	If to you:		The address of your principal residence as it appears in Blackstone’s records, with a copy to you (during your association with Blackstone under this SMD Agreement) at your Blackstone office in New York City:
		
	If to one of your beneficiaries:		The address most recently specified by you or the beneficiary.

  
 6 

 WHEREOF, the parties hereto have duly executed this Senior Managing Director Agreement as of the
date first above written. 
  

							
	BLACKSTONE HOLDINGS I L.P.
		
	By:		Blackstone Holdings I/II GP Inc., its general partner
			
			By:		  

					Name:		Stephen A. Schwarzman
					Title:		Chairman and Chief Executive Officer

  
 [Signature Page to
SMD Agreement] 

			
	By:		  

			(Please sign above)
	
	Print Name: [Name]

  
 [Signature Page to
SMD Agreement] 

 Schedule A 

Defined Terms 
  

	1.	“Affiliate” shall mean, with respect to any Person, any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with such
first Person. The term “control” (including its correlative meanings “controlled by” and “under common control with”) means possession, directly or indirectly, of power to direct or cause the direction of management or
policies (whether through ownership of securities or other ownership interests, by contract, or otherwise). 

  

	2.	“Business” shall mean, to the extent agreed in writing by you and Blackstone to constitute a part of the “Business”, any businesses the day-to-day management of which is supervised by Bennett
J. Goodman, Doulgas I. Ostrover and J. Albert (Tripp) Smith III. 

  

	3.	“Cause” shall mean the occurrence or existence of any of the following as determined fairly, reasonably, on an informed basis and in good faith by Blackstone: (i) (w) any breach by you of any
provision of the Non-Competition Agreement, (x) any material breach of any rules or regulations of Blackstone applicable to you, (y) your deliberate failure to perform your duties to Blackstone, or (z) your committing to or engaging
in any conduct or behavior that is or may be harmful to Blackstone in a material way; provided that, in the case of any of the foregoing clauses (w), (x), (y) and (z), Blackstone has given you written notice (a “Notice of
Breach”) within fifteen days after Blackstone becomes aware of such action and you fail to cure such breach, failure to perform or conduct or behavior within fifteen days after receipt by you of such Notice of Breach from Blackstone (or
such longer period, not to exceed an additional fifteen days, as shall be reasonably required for such cure, provided that you are diligently pursuing such cure); (ii) any act of fraud, misappropriation, dishonesty, embezzlement or similar
conduct against Blackstone; or (iii) conviction (on the basis of a trial or by an accepted plea of guilty or nolo contendere) of a felony or crime (including any misdemeanor charge involving moral turpitude, false statements or misleading
omissions, forgery, wrongful taking, embezzlement, extortion or bribery), or a determination by a court of competent jurisdiction, by a regulatory body or by a self-regulatory body having authority with respect to securities laws, rules or
regulations of the applicable securities industry, that you individually have violated any applicable securities laws or any rules or regulations thereunder, or any rules of any such self-regulatory body (including, without limitation, any licensing
requirement), if such conviction or determination has a material adverse effect on (A) your ability to function as an SMD, taking into account the services required of you and the nature of Blackstone’s business or (B) the business of
Blackstone. 

  

	4.	“Investment Advisers Act” shall mean the U.S. Investment Advisers Act of 1940, as amended, and the rules and regulations of the SEC thereunder. 

 

	5.	“New Acquisition Agreement” shall mean that certain Acquisition Agreement by and among GSO Holdings I L.L.C. and the GSO Equity Participants named therein, dated December 30, 2011.

  

	6.	“Original Acquisition Agreement” shall mean that certain Acquisition Agreement by and among Blackstone, the other acquirers named therein, GSO Capital Partners LP and the GSO Equity Participants named
therein, dated March 3, 2008. 

  

	7.	“Person” shall mean any individual, corporation, company, partnership (limited or general), limited liability company, joint venture, association, trust, unincorporated organization or other entity.

  

	8.	“SEC” shall mean the United States Securities and Exchange Commission. 

 Schedule B 

Non-Competition Agreement 

[Distributed Separately]

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