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Aircraft Purchase And Sale Agreement

Aircraft Purchase And Sale Agreement Template for Austria

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Key Requirements PROMPT example:

Aircraft Purchase And Sale Agreement

"I need an Aircraft Purchase and Sale Agreement for the acquisition of a new Boeing 787 Dreamliner from the manufacturer, with delivery scheduled for March 2025, including provisions for crew training and maintenance support, compliant with Austrian law and EU aviation regulations."

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Document background
The Aircraft Purchase And Sale Agreement is essential for documenting aircraft transactions under Austrian jurisdiction. It is used when transferring ownership of aircraft, whether new from manufacturers or used from previous owners. The agreement must comply with Austrian civil and commercial laws, EU regulations, and international aviation standards. It typically includes detailed sections covering aircraft specifications, purchase price, payment terms, delivery conditions, warranties, and regulatory requirements. The document is crucial for ensuring legal compliance, protecting both parties' interests, and facilitating smooth aircraft transfer. It must address specific Austrian legal requirements while also considering international aviation regulations and potential cross-border implications.
Suggested Sections

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

2. Background: Context of the transaction and brief description of the aircraft

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core agreement to sell and purchase the aircraft

5. Purchase Price: Agreed purchase price, currency, and payment terms

6. Deposit: Details of deposit amount, payment timing, and escrow arrangements

7. Conditions Precedent: Conditions that must be satisfied before completion

8. Pre-Delivery Inspection: Rights and procedures for aircraft inspection before delivery

9. Delivery and Transfer of Title: Process and requirements for aircraft delivery and title transfer

10. Representations and Warranties: Statements of fact and promises by both parties

11. Seller's Warranties: Specific warranties regarding aircraft condition and title

12. Indemnification: Mutual indemnification obligations and procedures

13. Insurance: Insurance requirements during delivery and transfer

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

15. Notices: Communication procedures between parties

16. Governing Law and Jurisdiction: Austrian law as governing law and jurisdiction details

17. Miscellaneous: Standard boilerplate provisions including amendments, waivers, and severability

Optional Sections

1. Financing Arrangements: Required if third-party financing is involved in the purchase

2. Export/Import Requirements: Needed for international sales requiring specific customs clearance

3. Existing Contracts: Required if aircraft has existing maintenance or lease agreements

4. Tax Provisions: Detailed tax arrangements if complex cross-border considerations apply

5. Training and Support: Include for new aircraft sales with manufacturer support

6. Maintenance Release: Required for used aircraft to address maintenance history

7. Broker Provisions: Include if aircraft brokers are involved in the transaction

8. Registration Requirements: Specific provisions if aircraft registration needs to change

9. Cape Town Convention Compliance: Required if transaction involves international interests under the Convention

Suggested Schedules

1. Aircraft Specifications: Detailed technical description of the aircraft including configuration

2. Aircraft Documents: List of all technical and maintenance documents to be delivered

3. Delivery Condition Requirements: Specific conditions the aircraft must meet at delivery

4. Form of Acceptance Certificate: Template for the technical acceptance document

5. Form of Bill of Sale: Template for the transfer of title document

6. Purchase Price Allocation: Breakdown of the purchase price for tax and accounting purposes

7. Pre-Delivery Inspection Protocol: Detailed procedures for the pre-delivery inspection

8. Required Modifications: List of modifications required before delivery

9. Warranty Assignment: Assignment of manufacturer's warranties if applicable

10. Deregistration Power of Attorney: Template for power of attorney for aircraft deregistration

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Acceptance Certificate
Acceptance Date
Aircraft
Aircraft Documents
Airframe
Airworthiness Certificate
Airworthiness Directive
Applicable Law
Aviation Authority
Bill of Sale
Business Day
Buyer
Cape Town Convention
Closing
Closing Date
Completion
Conditions Precedent
Confidential Information
Contract Price
Delivery
Delivery Date
Delivery Location
Deposit
Engines
Escrow Account
Escrow Agent
Event of Default
Export Certificate of Airworthiness
FAA
Final Inspection
Force Majeure Event
Governing Law
Governmental Authority
International Registry
Lien
Luftfahrtbehörde
Maintenance Records
Material Adverse Change
OEM
Parts
Payment Date
Pre-Delivery Inspection
Purchase Price
Registration
Regulatory Requirements
Seller
Specification
Technical Acceptance
Technical Records
Title
Transfer Documents
VAT
Warranty
Clauses
Sale and Purchase
Representations and Warranties
Payment Terms
Conditions Precedent
Deposit
Aircraft Inspection
Delivery
Title Transfer
Aircraft Registration
Insurance
Indemnification
Default
Termination
Force Majeure
Confidentiality
Assignment
Notices
Governing Law
Dispute Resolution
Export Control
Tax
Anti-corruption
Documentation Requirements
Regulatory Compliance
Technical Acceptance
Aircraft Condition
Maintenance Records
Warranties Assignment
Risk of Loss
Broker Fees
Further Assurance
Entire Agreement
Amendments
Severability
Third Party Rights
Time of Essence
Costs and Expenses
Waiver
Counterparts
Language
Relevant Industries

Aviation

Aerospace

Transportation

Manufacturing

Financial Services

Insurance

Legal Services

Aircraft Leasing

Private Aviation

Commercial Airlines

Relevant Teams

Legal

Finance

Procurement

Technical Operations

Compliance

Risk Management

Fleet Management

Commercial Operations

Insurance

Contract Administration

Relevant Roles

Chief Executive Officer

Chief Financial Officer

General Counsel

Aviation Attorney

Fleet Manager

Procurement Manager

Technical Director

Compliance Officer

Aviation Finance Manager

Risk Manager

Aircraft Engineer

Operations Director

Commercial Director

Contract Manager

Aviation Insurance Specialist

Industries
Austrian Civil Code (ABGB): Primary source of Austrian contract law governing formation, validity, and enforcement of contracts, including purchase agreements
Austrian Commercial Code (UGB): Regulates commercial transactions and business relationships between merchants, relevant for commercial aircraft sales
Austrian Aviation Act (Luftfahrtgesetz - LFG): Main national aviation law governing aircraft registration, ownership, and transfer of aircraft in Austria
EU Regulation 2018/1139: Basic regulation for civil aviation safety in the EU, including requirements for aircraft certification and registration
Cape Town Convention and Aircraft Protocol: International treaty governing security interests in aircraft equipment, which Austria has ratified
EU Export Control Regulation (Regulation (EU) 2021/821): Regulates the export of dual-use items, including certain aircraft and aviation technology
Austrian Foreign Trade Act (Außenwirtschaftsgesetz): Governs import/export regulations and international trade requirements for aircraft transactions
EU VAT Directive (2006/112/EC): Governs VAT treatment of aircraft sales and related transactions within the EU
Austrian VAT Act (Umsatzsteuergesetz): National implementation of EU VAT rules, including specific provisions for aircraft transactions
ICAO Convention on International Civil Aviation: Sets international standards for aircraft registration and transfer, which Austria must comply with as an ICAO member
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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