The Aircraft Purchase And Sale Agreement is a crucial document used in aviation transactions under German jurisdiction. It is essential when transferring ownership of aircraft between parties, whether for commercial fleet expansions, private aviation purposes, or corporate restructuring. The agreement must comply with German civil law (BGB), commercial code (HGB), and aviation regulations (LuftVG), as well as EU aviation directives and international aviation standards. This document typically includes detailed specifications of the aircraft, comprehensive technical requirements, regulatory compliance provisions, and specific closing conditions. It's particularly important in the German market due to strict regulatory oversight and specific requirements for aircraft registration and transfer of ownership under German and EU law.

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

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

3. Definitions: Defined terms used throughout the agreement, including technical aviation terms and contract-specific definitions

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

5. Purchase Price and Payment Terms: Detailed payment structure, method, currency, and timing of payments including deposits

6. Conditions Precedent: Prerequisites for closing including regulatory approvals, inspections, and documentation requirements

7. Pre-Delivery Inspection: Process and standards for technical inspection, test flights, and acceptance procedures

8. Delivery and Transfer of Title: Specifics of delivery process, location, timing, and transfer of title requirements

9. Seller's Representations and Warranties: Warranties regarding aircraft condition, ownership, airworthiness, and compliance with regulations

10. Buyer's Representations and Warranties: Warranties regarding authority, capability to complete purchase, and regulatory compliance

11. Covenants: Ongoing obligations of both parties until closing

12. Closing Procedure: Detailed steps for completion of the transaction

13. Risk and Insurance: Allocation of risk and insurance requirements before and during delivery

14. Termination: Circumstances allowing contract termination and consequences

15. Indemnification: Mutual indemnification provisions and liability allocation

16. Governing Law and Jurisdiction: German law as governing law and jurisdiction provisions

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