Aircraft Purchase Agreement
This Aircraft Purchase Agreement, dated October 30, 20XX, is between Supersonic Wings
Corp., a Delaware corporation (the
... [Show More] “Seller”), and Fly-by-Night Aviation, Inc., a New York corporation
(the “Buyer”).
Background
This Agreement provides for the sale of the Seller’s Icarus Aerospace Corporation I-800 to the
Buyer.
Accordingly, the parties agree as follows:
Article 1 — Definitions
1.1 Defined Terms. Terms defined in the preamble have their assigned meanings, and each
of the following terms has the meaning assigned to it.
(a) “Agreement” means this Aircraft Purchase Agreement and all its Schedules and
Exhibits, as each may be amended from time to time.
(b) “Aircraft” means Airframe (as defined in Section 1.1c), equipped with the
Engines (as defined in Section 1.1n), together with all appliances, avionics,
furnishings, and other components, equipment, and property incorporated in or
otherwise related to the Airframe or Engines.
(c) “Airframe” means the Icarus Aerospace Corporation I-800 aircraft, bearing
United States Registration Number N765BW and Manufacturer’s Serial Number
8181.
(d) “Assigned Contracts” means the Maintenance Agreement and the Pilot
Agreement.
(e) “Assumed Liabilities” means, collectively, all liabilities and obligation of the
Seller that arise under either (a) the Maintenance Agreement on or after the
Closing Date or (b) the Pilot Agreement on or after the Closing Date.
(f) “Aviation Fuel” means the gas or liquid that is used to create power to propel the
Aircraft.
(g) “Bank” has the meaning assigned to it in Section 4.5.
(h) “Closing” means the consummation of the transactions that this Agreement
contemplates.
(i) “Closing Date” has the meaning assigned to it in Section 2.3.
(j) “Consent” means any consent of, approval of, authorization of, notice to, or
designation, registration, declaration, or filing with any Pers [Show Less]