Aircraft Purchase Agreement Template for Austria

The Aircraft Purchase Agreement is a critical legal document used when transferring ownership of an aircraft between parties under Austrian jurisdiction. It combines elements of Austrian commercial law, EU aviation regulations, and international aviation treaties to create a comprehensive framework for aircraft transactions. The agreement is essential for both commercial and private aircraft sales, requiring careful attention to regulatory compliance, technical specifications, and risk allocation. It must address specific requirements of the Austrian Aviation Act (Luftfahrtgesetz), EU regulations, and the Cape Town Convention while including detailed provisions for aircraft inspection, delivery, warranties, and post-sale obligations. This document is particularly important given Austria's position within the EU aviation framework and its role as a hub for international aviation transactions.

1. Parties: Identification of seller and buyer with full legal names and addresses

2. Background: Context of the transaction, identification of the aircraft, and purpose of the agreement

3. Definitions: Definitions of technical terms, industry terminology, and other key terms used throughout the agreement

4. Sale and Purchase: Core transaction terms including purchase price, payment terms, and basic obligations

5. Aircraft Description: Detailed description of the aircraft, engines, and other components included in the sale

6. Purchase Price and Payment: Detailed payment terms, deposit requirements, payment method, and currency

7. Conditions Precedent: Conditions that must be satisfied before closing, including technical inspections and regulatory approvals

8. Pre-Delivery Inspection: Process and requirements for technical inspection of the aircraft before delivery

9. Delivery: Time, location, and process for aircraft delivery and transfer of title

10. Representations and Warranties: Seller's and buyer's representations regarding authority, aircraft condition, and regulatory compliance

11. Covenants: Ongoing obligations of both parties before and after closing

12. Risk and Insurance: Allocation of risk and insurance requirements during the transaction process

13. Indemnification: Mutual indemnification provisions for various risks and liabilities

14. Default and Termination: Events of default, remedies, and termination rights

15. Governing Law and Jurisdiction: Choice of Austrian law and jurisdiction provisions

16. Miscellaneous: Standard boilerplate provisions including notices, amendments, and severability