Document:

Exhibit 10.9

 

USE AGREEMENT

 

Certain information in this document,
marked by brackets, has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K under the Securities Act of 1933,
as amended, because it is both (i) not material and (ii) would likely cause competitive harm to the registrant if publicly
disclosed

 

THIS
USE AGREEMENT is made this 30th day of
April, 2015 between
Air Pegasus Heliport, Inc., a New York corporation whose
address is West 30th
Street and 12th Avenue, New York,
New York (“APH”)
and Flyblade, Inc., a Delaware
Corporation whose address is 499 East
34th Street, New York,
New York 10016 (“BLADE,”
and, together with APH, the
“Parties”).

 

WHEREAS,
APH operates the West 30th
Street Heliport (the ” Heliport”) pursuant
to a permit between it and
the New York State Department
of Transportation (the “NYDOT”), its
successors and assigns, dated March 25,
1996 (the “Permit”
). The Hudson River
Park Trust (the “HRPT”)
is the current successor to the NYDOT and therefore
the current Permit holder; and

 

WHEREAS,
APH has room for a
trailer to be placed on
the Heliport that is
no greater than sixteen
(16) feet wide by sixty
(60) feet long for the purpose
of serving as a lounge
to helicopter passengers that wish
to utilize the Heliport (the “Trailer”
); and

 

WHEREAS,
BLADE acts as agent of duly licensed Federal Aviation Administration
(“FAA”) and United States Department
of Transportation (“DOT”) operators whose operations are compliant with all relevant
Federal Aviation Regulations (“FAR”);
and

 

WHEREAS,
APH is willing to allow
BLADE to place the
Trailer at a specific location at the Heliport
that is mutually agreed
upon and designated
by the Parties pursuant to the terms
and conditions of this Use Agreement (the “Agreement”);

 

NOW,
THEREFORE, based on
the foregoing premises,
and in consideration
of the mutual promises set forth herein,
and other good and valuable consideration,
the receipt and sufficiency
of which is hereby acknowledged,
the Parties agree as follows:

 

1.            Recitals. The above stated Recitals are hereby incorporated by reference and shall be treated as if they were set forth within the body of this Agreement in their entirety.

 

2.            Term. This Agreement shall be coterminous with APH’ s Permit and shall be effective as of the date of HRPT’s approval as described in Paragraph 11. Notwithstanding the foregoing , BLADE shall have the right to place its Trailer at the Heliport immediately following the execution of this Agreement and at a mutually agreed upon location adjacent to helicopter landing areas described in Paragraph 7 below. BLADE understands that APH’s rights under its Permit with HRPT are on a month-to-month basis and that APH has no right to grant BLADE any use or occupancy rights beyond those provided for in the Permit. Accordingly, BLADE agrees that this Agreement shall run coterminously with the term of the Permit, and shall terminate concurrently with the same. Upon termination of this Agreement, BLADE shall, at its own cost and expense, remove the Trailer or be prepared to forfeit it.

 

    

     

    

 

3.            Monthly Use
Fee. There shall be
no monthly use fee for the [***] of this
Agreement. Beginning
on [***] of this Agreement, BLADE shall pay
APH a monthly use fee, and shall continue to make such payment on the
first day of each month thereafter for so long as this Agreement remains in effect. If BLADE
employs its own ground crew to facilitate its operations at
the Heliport the monthly use fee shall be  [***]. If BLADE
utilizes APH ground crew to facilitate its operations at
the Heliport that monthly use fee shall be the
aggregate of [***] for
APH’s ground support of BLADE-related operations at
the Heliport. For purposes of this Agreement, the
term “ground crew” is understood to be staff that
assists in the loading and unloading of passengers and baggage
from helicopters at the Heliport, and specifically excludes staff that
perform fueling or traffic direction of helicopters at the
Heliport.

 

 4.            Ground Crew. APH shall service all Blade Helicopters (as defined in Paragraph 7 below) in the same manner APH services other Part 135 operations at the Heliport with ground crew and fueling support as necessary. BLADE may, at its discretion, employ additional ground crew to service the Blade Helicopters. APH and BLADE shall periodically assess if the presence of BLADE’s Trailer at the Heliport results in an increase of BLADE-related operations at the Heliport sufficient to necessitate an increase in ground crew. In the event the Parties make such determination, APH shall notify BLADE in writing and BLADE shall have five (5) business days to respond as to whether it wishes for APH to deploy the necessary ground crew or if BLADE elects to take responsibility for staffing additional ground crew. If BLADE elects to take responsibility for staffing any number of ground crew, as necessary, all such crew shall report to APH management for training, scheduling, and direction within fourteen (14) days of the notice contemplated in this Section.

 

 5.            Trailer Installation Expenses & Usage. Any and all expenses associated with the installation, permitting, use, maintenance, and/or removal of the Trailer or otherwise associated with the Trailer shall be the responsibility of BLADE. In the event APH is invoiced or must incur expenditures related to the Trailer it shall promptly forward demand for reimbursement to BLADE, and BLADE shall promptly reimburse APH. Failure to do so shall be a material breach of this Agreement. APH agrees to allow BLADE to tie into existing utility lines at the Heliport in order to ensure access to power and water to the Trailer. Notwithstanding the provisions contained within this Paragraph 5, the cost of the use of such utilities to provide power and water to the Trailer is incorporated into the monthly usage fee described in Paragraph 3 above. APH may use the Trailer and any amenities BLADE installs within it for any patrons utilizing APH’ s heliport facility to fly under FAR Part 91. APH may not use the Trailer for the benefit of anyone, or otherwise grant anyone access to the Trailer, who is a customer of a BLADE competitor, charter operator, or operator of scheduled or crowdsourced point to point helicopter flights. APH, from time to time and at the discretion of APH management and as agreed upon by BLADE, may request to use the Trailer for its VIP patrons flying under FAR Part 135, so long as such usage does not result in the perception of any benefit to a competitor of BLADE and BLADE is given prior notice of such request.  APH will not allow any competitor of BLADE to erect or maintain a quasi-private or branded passenger lounge at the Heliport at any time during the term during which BLADE is not in default of this Agreement.

 

    

     

    

 

6.            Discounted
Landing Fees. To the extent helicopter services sold
or brokered by BLADE benefit from discounted landing fees and any
and all other operational
fees (that is, any fee incurred
in the landing and taking off,
loading and unloading of passengers and baggage, and the operating of helicopters for
commercial purposes at the Heliport) negotiated between APH and a third party provider, all
such operations shall benefit from those pre-determined
fees or the following discounted fee structure,
whichever is less:

 

[***]

 

[***]

 

These
discounts shall be granted by APH to the third
party service provider as applicable. Landing and operations
counts used to justify discounted landing fees as
detailed herein shall reset on
each anniversary of this Agreement.

 

7.            Priority
Access. Helicopters used to provide services sold or brokered
by BLADE (“BLADE Helicopters”)
shall have priority access
to, and use of
the two landing spots most
proximate to the ramp entrance of the Trailer. APH shall ensure the
landing spots described herein are available
to BLADE Helicopters at all
times upon reasonable prior notice by BLADE of anticipated BLADE-related operations. Priority
access is not exclusive access. APH may utilize the two landing spots described
herein when not reasonably anticipated to be in use by BLADE Helicopters. There shall be
no penalty in the event said spots are not available to
BLADE Helicopters as a consequence
of concurrent high volume APH operations.

 

8.            Assignment.
BLADE shall not have any right
to assign this Agreement. APH shall have the right to assign
this Agreement. BLADE agrees that it shall
not sublease, or grant the
right to use, any
portion of the Trailer (including
the exterior) to any person or entity, without
the prior written approval of APH which APH may grant
or refuse to grant,
in its sole discretion.

 

9.            Insurance.
BLADE shall maintain a policy or policies of comprehensive general liability
insurance with respect to its activities and use of the Trailer with
the premiums thereon fully paid on or before
due date, issued
by and binding upon an insurance
company approved by APH, such insurance to afford
minimum protection of not less than Two Million
Dollars ($2,000,000.00) combined single limit
coverage of bodily injury, property
damage or combination thereof. APH shall be listed as
an additional insured on BLADE’s
policy or policies of
comprehensive general liability insurance, and BLADE shall provide
APH with current Certificates of Insurance evidencing BLADE’s compliance with this
Paragraph. BLADE shall obtain the agreement of its
insurers to notify APH that a policy is due to expire
at least (10) days prior to such expiration. APH shall not
be required to maintain any insurance regarding the Trailer.

 

    

     

    

 

I0.       Default.

 

(a)            BLADE.
BLADE shall be in default if: (i) BLADE fails to pay
the monthly use fee when due, and such
failure continues for ten
(10) days after the due date; or (ii) BLADE defaults
in any of its other obligations under this
Agreement, and such default
continues for fourteen (14) days after BLADE has been notified
of such default in writing.
Upon BLADE’s uncured default, APH may declare this Agreement
ended and terminated by giving BLADE
written notice of such intention and BLADE shall
lose its right to access the Trailer for the
benefit of its customers and act immediately to remove
it from the Heliport without disrupting APH operations.
APH shall have, in addition
to the remedy set forth
herein, any other right or
remedy available to APH as a result
of BLADE’s default.

 

(b)            APH.
APH shall be in default if APH defaults in any
of its obligations under
this Agreement, and such default continues
for fourteen (14) days
after APH has been notified of such default in writing.
Upon APH’s uncured default, BLADE may declare this Agreement ended and terminated.
BLADE shall have, in
addition to the remedy set forth herein,
any other right or remedy available
to BLADE as a result of APH’
s default.

 

 11.          HRPT Approval. APH and BLADE understand that this Agreement is subject to the approval of the HRPT pursuant to the terms of the Permit. The dates set forth in this Agreement shall be deemed to run from the date that the HRPT grants such approval. If the HRPT does not approve this Agreement, then it shall be null and void.

 

 12.          Right of First Refusal. In the event this Agreement is terminated as a result of the Permit being terminated or revoked and BLADE is not otherwise in default of this Agreement, should APH relocate its business and operate a heliport elsewhere in Manhattan, APH agrees to work in good faith with BLADE to allow for the transfer of the Trailer to any such subsequent heliport location or for Blade to install an alternative facility consistent with the size and configuration of such subsequent heliport within the parameters of all governing permits, leases , and/or regulations. APH shall not enter into discussions or otherwise negotiate with any other FAR Part 135 operator concerning the installation of a quasi-private and/or branded passenger lounge at any subsequent APH heliport location for the period of time between the termination of the Permit and April  15 of the same or subsequent year the Permit is terminated, whichever is sooner. If in the event any subsequent APH heliport has facilities for multiple quasi-private and/or branded passenger lounges, APH shall not offer any third party use of any such lounge that is substantially similar to BLADE’-s lounge in size and configuration on terms more favorable than those offered to BLADE, including rates on landing fees, unless such terms are also offered to BLADE upon reasonable prior notice.

 

 13.          Waiver. No waiver of any default of APH or BLADE shall be construed as a waiver of a subsequent breach of the same or similar covenant, term or condition.

 

 14.          Headings. The headings used in this Agreement are for convenience of the parties only and shall not be considered in interpreting the meaning of any provision of this Agreement.

 

    

     

    

 

 15.          Regulatory Compliance and Safety Considerations. As of the date of this Agreement, BLADE shall comply with all laws, orders, ordinances and other public requirements now or hereafter enacted or adopted pertaining to the Heliport, including without limitation all of APH’s rules and regulations and all applicable FAA regulations, thus ensuring the safety and security of the Heliport’s staff and patrons and the efficiency of the Heliport’s operations. APH reserves the right to adopt any rule or regulation reasonable necessary to ensure the efficient and safe operation of the Heliport, and may serve notice of the same upon BLADE at any time as necessary in writing. Upon receipt of any such notice BLADE shall have fourteen (14) days to either (i) comply, or (ii) raise issues associated with compliance to APH. APH shall work in good faith with BLADE to resolve any aforementioned issue. APH and BLADE both further agree to comply with all laws, orders, ordinances and other public requirements now or hereafter enacted or adopted affecting the Heliport and/or its operations.

 

 16.          Limitation of Rights. This Agreement shall not be construed to grant BLADE any rights or privileges that APH: (i) is prohibited from granting; or (ii) does not possess pursuant to the Permit.

 

17.        Governing
Law; Jurisdiction. This Agreement shall be
governed by and construed
under the laws of the
State of New York.

 

 18.          Facsimile Signatures. Facsimile signature shall be as binding as original signatures.

 

IN WITNESS
WHEREOF, the parties have executed this Agreement as of the day
and date first written
above.

 

	 	FLYBLADE, INC.
	 	 	 
	 	By:	/s/ Evan Licht
	 	Name:	Evan Licht
	 	Title:	General Manager
	 	 	 
	 	 	 
	 	AIR PEGASUS HELIPORT, INC.
	 	 
	 	 	 
	 	By:	/s/ Abigail Trenk
	 	Name:	Abigail Trenk
	 	Title:	PresidentExhibit 10.10

 

USE AGREEMENT

 

Certain information in this document,
marked by brackets, has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K under the Securities Act of 1933,
as amended, because it is both (i) not material and (ii) would likely cause competitive harm to the registrant if publicly
disclosed.

 

THIS
USE AGREEMENT is made this 28 day of January, 2016 between
Air Pegasus Heliport, Inc., a New York corporation whose address is West 30th Street and 12th Avenue,
New York, New York ("APH")
and Flyblade, Inc.,
a Delaware Corporation whose address is 499 East 34th
Street, New York, New York 10016 ("BLADE," and,
together with APH, the "Parties").

 

WHEREAS,
APH operates the West 30th Street Heliport (the
"Heliport") pursuant to a permit between it and
the New York State Department of Transportation
(the "NYDOT"), its successors and assigns, dated March 25, 1996 (the "Permit").
The Hudson River Park Trust (the "HRPT") is the
current successor to the NYDOT and therefore the current Permit holder; and

 

WHEREAS,
BLADE acts as agent of duly licensed Federal Aviation Administration ("FAA") and United States Department of Transportation
("DOT")
operators whose operations are compliant with all
relevant Federal Aviation Regulations ("FAR");
and

 

WHEREAS,
APH and BLADE entered into a Use Agreement, dated April 30, 2015, pursuant to which BLADE
placed a trailer at the Heliport for use as
passenger lounge (the "First
Use Agreement"); and

 

WHEREAS,
BLADE is seeking additional physical space at the Heliport;
and 

 

WHEREAS, APH
has a trailer on the northernmost end of the Heliport
which APH is willing to allow BLADE to renovate and occupy for the purpose of serving as
an office for BLADE employees that wish to utilize the Heliport (the "North Trailer")
pursuant to the terms and conditions of this Use Agreement (the
 "Agreement").

 

NOW,
THEREFORE, based on the foregoing premises, and in consideration
of the mutual promises set forth herein, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged,
the Parties agree as follows:

 

1.            Recitals.
The above stated Recitals are
hereby incorporated by reference and shall be
treated as if they were set forth within the body of this
Agreement in their entirety.

 

2.            Term.
This Agreement shall be
coterminous with APH's Permit and shall be
effective as of the date
of HRPT's approval as described in Paragraph 11.
 Notwithstanding the
foregoing, BLADE shall have the right to occupy the North Trailer
immediately following the execution of this Agreement. BLADE understands that APH's rights under its Permit with HRPT
are on a month-to-month
basis and that APH has
no right to grant BLADE
any use or occupancy rights beyond those provided for
in the Permit. Accordingly, BLADE agrees that this Agreement shall
run coterminously with
the term of the Permit, and shall terminate concurrently
with the same. Upon termination
of this Agreement, BLADE shall, at
its own cost and expense, vacate
the North Trailer.

 

     

     

    

 

3.            Monthly Use Fee. There shall
be no monthly use fee for the first [***] of this Agreement. Beginning on the [***]
of this Agreement, BLADE shall pay
APH a monthly use fee of no more than [***] and
shall continue to make such payment on the first day of each month thereafter for so long as this Agreement remains in
effect. The Parties acknowledge that the current estimates of BLADE's renovations equal [***]. BLADE
is responsible for all internal and external maintenance and repair of the North Trailer. BLADE shall not place any signage on
the North Trailer without the prior approval of APH.

 

 4.             [Intentionally Deleted].

 

5.            Trailer
Renovation & Usage. Any and all expenses associated with the renovation of the North Trailer or otherwise associated
with the North Trailer
shall be the responsibility of BLADE. APH agrees to allow BLADE to tie into existing utility lines and telephone and communication
lines at the Heliport in order to ensure access to power and water to the North Trailer. Notwithstanding
the provisions contained within this
Paragraph 5, the cost of the use of such
utilities to provide power and water to the North
Trailer is incorporated into the monthly usage fee described in Paragraph 3 above.
BLADE will designate a renovated
and enclosed area within the North Trailer
as a locker room and
television lounge for use by APH employees, and additionally APH will have access to BLADE's 12-person conference room accompanied
by its audio/visual
equipment when not in use by BLADE, such access not to be unreasonably withheld,
within the North Trailer. APH may not use the North Trailer for
the benefit of anyone,
or otherwise grant anyone
access to the North Trailer, who is a customer of a BLADE competitor, charter
operator, or operator of
scheduled or crowdsourced
point to point helicopter flights. As set forth in the First Use Agreement,
APH will not allow any competitor of BLADE to erect or
maintain a quasi-private or branded passenger lounge at the Heliport at any time during the term during which
BLADE is not in default of this Agreement.

 

6.            First
Use Agreement.
APH and BLADE agree that the terms and
conditions of the First Use Agreement
remain in full force and effect and nothing contained in this Agreement shall be deemed to alter or amend the
First Use Agreement.

 

7.            Assignment.
BLADE shall not
have any right to assign this
Agreement. APH shall have the right to assign this Agreement. BLADE
agrees that it shall not sublease, or
grant the right to use, any portion of the North Trailer (including the
exterior) to any person or entity, without the
prior written approval of APH which APH may grant or refuse
to grant, in its sole
discretion.

 

8.           Insurance. BLADE shall maintain
a policy or policies of comprehensive general liability
insurance with respect to its activities and use of the North Trailer with
the premiums thereon fully paid on or before due date, issued
by and binding upon an insurance company approved by
APH, such insurance to afford minimum
protection of not less than Two Million Dollars ($2,000,000.00)
combined single limit coverage of
bodily injury, property damage or combination
thereof. APH shall be
listed as an additional insured on BLADE's
policy or policies of comprehensive general liability insurance, and
BLADE shall provide APH with current Certificates of Insurance evidencing BLADE's
compliance with this Paragraph. BLADE shall obtain the agreement of its insurers to notify APH that a policy is due to expire
at least (10) days prior to such expiration. APH
shall not be required to maintain any insurance regarding the North Trailer.

 

     

     

    

 

 9.            Default.

 

(a)            BLADE.
BLADE shall be in default if: (i) BLADE fails to pay the
monthly use fee when due, and
such failure continues for ten (10) days after the due date; or
(ii) BLADE defaults in any of its other obligations under this Agreement,
and such default continues for fourteen (14) days after BLADE has been notified
of such default in writing via certified mail, return
receipt requested. Upon BLADE's uncured default, APH
may declare this Agreement ended and terminated by giving BLADE written notice of such intention and BLADE shall lose its right
to access the North Trailer for the benefit of its employees and customers.
APH shall have, in
addition to the remedy set
forth herein, any other right or remedy available to APH as a result of BLADE'
s default.

 

(b)            APH.
APH shall be in default if APH defaults in any of its obligations under this Agreement,
and such default continues for fourteen (14) days after APH has been notified
of such default in writing.
Upon APH's uncured default,
BLADE may declare this Agreement ended and terminated.
BLADE shall have, in
addition to the remedy set forth herein, any other right or remedy available to BLADE as a result of APH's default.

 

10.            HRPT
Approval. APH and BLADE understand that this Agreement may be subject to the approval of the HRPT pursuant to the
terms of the Permit.

 

11.
            Right of First Refusal. In the event this Agreement is
terminated as a result of the Permit being terminated or revoked and BLADE
is not otherwise in default of this Agreement,
should APH relocate its business and operate a heliport elsewhere in Manhattan,
APH agrees to use its best efforts to work with BLADE to allow,
for a lease term of [***],
a designated and exclusive office space in any
such subsequent heliport location or for Blade to install an alternative
facility consistent
with the size and configuration of such subsequent heliport within the parameters of all governing permits,
leases, and/or regulations. APH shall not enter into discussions or otherwise
negotiate with any other FAR Part 135 operator concerning the installation of a quasi-private and/or branded office or passenger
lounge at any subsequent APH heliport location for the period of time between the termination of the Permit
and April 15 of the same
or subsequent year the Permit is terminated, whichever
is sooner. If in the
event any subsequent APH heliport has facilities
for multiple offices or quasi-private
and/or branded passenger lounges, APH
shall not offer any third party use of any such office or lounge that is substantially similar to BLADE's
lounge in size and configuration
on terms more favorable than those offered to BLADE, including
rates on landing fees,
unless such terms are
also offered to BLADE upon
reasonable prior notice.

 

 12.          Waiver. No waiver of any default of APH or BLADE shall be construed as a waiver of a subsequent breach of the same or similar covenant, term or condition.

 

     

     

    

 

13.            Headings.
The headings used in
this Agreement are for convenience
of the parties only and
shall not be
considered in interpreting the meaning of any
provision of this
Agreement.

 

14.            Regulatory
Compliance and Safety Considerations.
As of the date of this
Agreement, BLADE shall
comply with all laws,
orders, ordinances and other public requirements now or hereafter enacted
or adopted pertaining to the Heliport,
including without limitation
all of APH's rules and
regulations and all applicable FAA regulations, thus
ensuring the safety
and security of the
Heliport's staff and patrons and the
efficiency of the Heliport'
s operations. APH reserves
the right to adopt any
rule or regulation reasonable
necessary to ensure the
efficient and safe operation
of the Heliport, and
may serve notice of
the same upon
BLADE at any time as necessary in
writing. Upon receipt
of any such notice BLADE shall
have fourteen (14) days
to either (i) comply,
or (ii) raise issues
associated with compliance to APH. APH shall work in
good faith with BLADE
to resolve any aforementioned
issue. APH and
BLADE both further agree
to comply with all laws,
orders, ordinances and other
public requirements now or hereafter
enacted or adopted affecting the
Heliport and/or its operations.

 

15.            Limitation
of Rights.
This Agreement shall
not be construed
to grant BLADE any
rights or privileges
that APH: (i) is
prohibited from granting;
or (ii) does not
possess pursuant to the Permit.

 

 16.            Governing Law; Jurisdiction. This Agreement shall be governed by and construed under the laws of the State of New York.

 

 17.            Facsimile Signatures. Facsimile signature shall be as binding as original signatures.

 

[remainder
of page intentionally
left blank; signature
page follows]

 

     

     

    

 

IN WITNESS WHEREOF, the parties have executed
this Agreement as of the day and date first written above.

 

	 	FLYBLADE, INC.
	 	 
	 	 
	 	/s/ Evan Licht
	 	Name: Evan Licht 
	 	Title: General Manager
	 	 
	 	 
	 	AIR PEGASUS HELIPORT, INC.
	 	 
	 	 
	 	/s/ Abigail Trenk
	 	Name:Abigail Trenk
	 	Title: President

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