The Airplane Purchase Agreement is a crucial legal instrument used for documenting the sale and purchase of aircraft in New Zealand. This document is essential when any entity or individual is looking to acquire an aircraft, whether for commercial, private, or specialized use. The agreement ensures compliance with New Zealand's aviation regulations, including the Civil Aviation Act 1990 and related rules, while also addressing commercial aspects under the Contract and Commercial Law Act 2017. It covers critical elements such as aircraft specifications, purchase price, payment terms, delivery conditions, warranties, and regulatory requirements. The document is particularly important as aircraft transactions involve significant financial commitment and complex regulatory compliance, requiring careful documentation of all terms and conditions to protect both parties' interests and ensure a smooth transfer of ownership.
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1. Parties: Identification of buyer and seller with full legal names and addresses
2. Background: Context of the transaction and brief description of the parties' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Aircraft Description: Detailed identification of the aircraft including make, model, serial numbers, and registration
5. Purchase Price: Agreed purchase price, payment terms, deposit requirements, and payment method
6. Conditions Precedent: Conditions that must be satisfied before completion of the purchase
7. Pre-Delivery Inspection: Rights and procedures for aircraft inspection before delivery
8. Delivery and Acceptance: Terms and conditions for aircraft delivery and acceptance procedures
9. Title and Risk: Transfer of title and risk provisions
10. Warranties and Representations: Warranties and representations from both parties regarding the aircraft and transaction
11. Indemnification: Mutual indemnification provisions
12. Insurance: Insurance requirements during delivery and transfer
13. Default and Termination: Events of default and termination rights
14. Governing Law and Jurisdiction: New Zealand law as governing law and jurisdiction provisions
15. General Provisions: Standard boilerplate clauses including notices, amendments, and entire agreement
1. Financing Arrangements: Required if the purchase involves external financing or specific payment structures
2. Export/Import Requirements: Needed if the aircraft is being imported into or exported from New Zealand
3. Training and Support: Include if seller is providing additional training or support services
4. Maintenance History Requirements: Detailed requirements for maintenance history if dealing with used aircraft
5. Escrow Arrangements: Terms for escrow if being used for the transaction
6. Tax Provisions: Specific tax arrangements or requirements if needed
7. Broker Provisions: Include if aircraft brokers are involved in the transaction
8. Assignment Rights: Specific assignment provisions if either party requires assignment rights
1. Aircraft Specifications: Detailed technical specifications of the aircraft
2. Equipment List: Inventory of all equipment included in the sale
3. Delivery Condition Requirements: Specific conditions the aircraft must meet at delivery
4. Required Documentation: List of all documents required for the transfer
5. Acceptance Certificate: Form of acceptance certificate to be signed at delivery
6. Insurance Requirements: Detailed insurance specifications
7. Warranty Terms: Detailed warranty terms and conditions
8. Maintenance Records: List of required maintenance records and history
9. Pre-Delivery Inspection Protocol: Detailed procedures for pre-delivery inspection
Relevant legal definitions
Acceptance Certificate
Acceptance Date
Acceptance Flight
Affiliate
Aircraft
Aircraft Documents
Airframe
Airworthiness Directive
Aviation Authority
Bill of Sale
Business Day
CAA
Closing
Closing Date
Completion
Conditions Precedent
Confidential Information
Delivery Date
Delivery Location
Deposit
Engine Manufacturer
Engines
Equipment
Escrow Account
Escrow Agent
Event of Default
Export Certificate of Airworthiness
FAA
Force Majeure Event
Governmental Authority
Inspection Period
Insurance Requirements
Law
Liens
Maintenance Records
Major Defect
Manufacturer
Material Adverse Change
Operating Documents
Parts
Pre-Delivery Inspection
Purchase Price
Registration Requirements
Regulatory Requirements
Representatives
Security Interest
Seller's Warranties
Service Bulletin
Specifications
Technical Acceptance
Title Transfer Documents
Transaction Documents
Warranty Bill of Sale
Acceptance Date
Acceptance Flight
Affiliate
Aircraft
Aircraft Documents
Airframe
Airworthiness Directive
Aviation Authority
Bill of Sale
Business Day
CAA
Closing
Closing Date
Completion
Conditions Precedent
Confidential Information
Delivery Date
Delivery Location
Deposit
Engine Manufacturer
Engines
Equipment
Escrow Account
Escrow Agent
Event of Default
Export Certificate of Airworthiness
FAA
Force Majeure Event
Governmental Authority
Inspection Period
Insurance Requirements
Law
Liens
Maintenance Records
Major Defect
Manufacturer
Material Adverse Change
Operating Documents
Parts
Pre-Delivery Inspection
Purchase Price
Registration Requirements
Regulatory Requirements
Representatives
Security Interest
Seller's Warranties
Service Bulletin
Specifications
Technical Acceptance
Title Transfer Documents
Transaction Documents
Warranty Bill of Sale
Clauses
Sale and Purchase
Purchase Price
Payment Terms
Deposit
Conditions Precedent
Pre-Delivery Inspection
Delivery
Title Transfer
Risk Transfer
Representations and Warranties
Technical Acceptance
Registration
Insurance
Regulatory Compliance
Export/Import
Documentation
Confidentiality
Force Majeure
Default
Termination
Indemnification
Assignment
Notices
Governing Law
Dispute Resolution
Amendment
Waiver
Severability
Entire Agreement
Counterparts
Third Party Rights
Time of Essence
Costs and Expenses
Further Assurance
Escrow
Tax
Broker Fees
Maintenance Records
Training
Technical Support
Warranty Claims
Purchase Price
Payment Terms
Deposit
Conditions Precedent
Pre-Delivery Inspection
Delivery
Title Transfer
Risk Transfer
Representations and Warranties
Technical Acceptance
Registration
Insurance
Regulatory Compliance
Export/Import
Documentation
Confidentiality
Force Majeure
Default
Termination
Indemnification
Assignment
Notices
Governing Law
Dispute Resolution
Amendment
Waiver
Severability
Entire Agreement
Counterparts
Third Party Rights
Time of Essence
Costs and Expenses
Further Assurance
Escrow
Tax
Broker Fees
Maintenance Records
Training
Technical Support
Warranty Claims
Relevant Industries
Aviation
Transportation
Manufacturing
Financial Services
Insurance
Legal Services
Commercial Real Estate
Tourism
Mining
Agriculture
Emergency Services
Healthcare
Relevant Teams
Legal
Finance
Procurement
Operations
Risk Management
Compliance
Technical Operations
Fleet Management
Asset Management
Insurance
Aviation Safety
Commercial Operations
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Fleet Manager
Aviation Director
Procurement Manager
Legal Counsel
Risk Manager
Technical Operations Director
Compliance Officer
Finance Director
Operations Manager
Commercial Director
Insurance Manager
Asset Manager
Maintenance Manager
Aviation Safety Officer
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