Okt 05, 2021 | Post by: schamane No Comments

Sale And Purchase Agreement For Aircraft

In accordance with this specific aircraft purchase agreement (the „Contract“) of __ _____ THAT this Contract of Sale be read in conjunction with a Contract of Sale; issued on a form in respect of the aircraft, which is suitable for the Federal Aviation Administration. The insurances, guarantees, insurances and agreements of the buyer and the seller survive the conclusion. CONSIDERING that the seller wishes to sell the aircraft to the buyer (as defined in point 1.1 a) and that the buyer wishes to purchase the aircraft from the seller under the conditions contained therein; and (b) the performance, delivery and performance of this Agreement by Seller has been duly authorized by all necessary measures on Seller`s behalf and is not contrary to or constitutes a breach of any of the Terms or constitutes a delay under any document, instrument or agreement to which Seller is a party. Seller wishes to exchange all rights, title and interest of Seller in and to the Aircraft for other aircraft of the same nature and Qualifying Use, in accordance with Section 1031 of the Internal Income Code. To this end, Seller expressly reserves the right to obtain its rights, but not its obligations under Exeter 1031 Exchange Services, LLC, a qualified intermediary, according to IRC Reg. 1.103l (k)-l (g) (4) on or before the closing date. There is no standard purchase agreement for used aircraft, although some sellers have some form of sales contract that they prefer to enter into with their customers. The requirements of the different parties with respect to the sale and purchase of used aircraft and the business details of these transactions vary widely and are discussed in more detail below. 1.1 (a) Subject to the provisions of this Agreement, Seller agrees to sell buyer and deliver it, and buyer agrees: all rights, title and interest of seller in and to such ___________________________________________N__________________________ determined with two __

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