The Airplane Purchase Agreement is essential for any aircraft transaction in the United States, whether for commercial, private, or corporate use. This document ensures compliance with FAA regulations, state laws, and international aviation standards where applicable. It covers critical aspects such as aircraft specifications, purchase price, payment terms, warranties, and delivery conditions. The agreement is particularly important as aircraft transactions involve significant financial investment and complex regulatory requirements. It provides legal protection for both parties and ensures proper transfer of title and registration under U.S. aviation law.
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1. Parties: Identification of buyer and seller with full legal names and addresses
2. Background/Recitals: Context of the transaction and basic information about the aircraft
3. Definitions: Key terms used throughout the agreement
4. Aircraft Description: Detailed specifications of the aircraft including make, model, serial numbers
5. Purchase Price and Payment Terms: Price, payment schedule, deposit requirements, and payment methods
6. Delivery and Acceptance: Terms regarding delivery location, timing, and acceptance procedures
7. Title and Risk Transfer: Provisions regarding transfer of ownership and risk
8. Representations and Warranties: Statements about aircraft condition, airworthiness, and ownership
9. Closing Conditions: Requirements that must be met before completion
1. Financing Provisions: Terms related to financing arrangements when purchase involves external financing
2. International Compliance: Export/import requirements and international regulations for cross-border transactions
3. Inspection Period: Terms for pre-purchase inspection when buyer requires inspection period
4. Trade-in Provisions: Terms related to aircraft trade-ins when transaction involves trade-in aircraft
1. Aircraft Specifications Schedule: Detailed technical specifications and equipment list
2. Maintenance Records Schedule: History of maintenance, repairs, and modifications
3. Title Documents Schedule: Registration documents and proof of ownership
4. Airworthiness Certificates Schedule: Current airworthiness documentation
5. Insurance Certificates Schedule: Proof of required insurance coverage
6. Pre-Purchase Inspection Report Schedule: Results of technical inspection
7. Bill of Sale: FAA Form 8050-2 or equivalent
Relevant legal definitions
Agreement
Aircraft
Aircraft Documents
Airworthiness Certificate
Bill of Sale
Business Day
Closing
Closing Date
Delivery Date
Delivery Location
Deposit
Effective Date
Encumbrances
Engine(s)
Equipment
Escrow Agent
Escrow Agreement
FAA
Flight Hours
Force Majeure
Inspection Period
Liens
Logbooks
Maintenance Records
Material Adverse Change
Operating History
Parts
Purchase Price
Registration
Regulatory Authority
Required Documentation
Serial Number
Specifications
Technical Acceptance
Title
Transfer Documents
Warranties
Year of Manufacture
Aircraft
Aircraft Documents
Airworthiness Certificate
Bill of Sale
Business Day
Closing
Closing Date
Delivery Date
Delivery Location
Deposit
Effective Date
Encumbrances
Engine(s)
Equipment
Escrow Agent
Escrow Agreement
FAA
Flight Hours
Force Majeure
Inspection Period
Liens
Logbooks
Maintenance Records
Material Adverse Change
Operating History
Parts
Purchase Price
Registration
Regulatory Authority
Required Documentation
Serial Number
Specifications
Technical Acceptance
Title
Transfer Documents
Warranties
Year of Manufacture
Clauses
Aircraft Description
Purchase Price
Payment Terms
Deposit
Escrow
Title Transfer
Delivery
Acceptance
Pre-Purchase Inspection
Representations and Warranties
Covenants
Conditions Precedent
Closing Conditions
Risk of Loss
Insurance
Registration
Regulatory Compliance
Taxes
Indemnification
Default
Termination
Force Majeure
Confidentiality
Assignment
Governing Law
Dispute Resolution
Notices
Amendments
Entire Agreement
Severability
Counterparts
Time of Essence
Survival
Further Assurances
Purchase Price
Payment Terms
Deposit
Escrow
Title Transfer
Delivery
Acceptance
Pre-Purchase Inspection
Representations and Warranties
Covenants
Conditions Precedent
Closing Conditions
Risk of Loss
Insurance
Registration
Regulatory Compliance
Taxes
Indemnification
Default
Termination
Force Majeure
Confidentiality
Assignment
Governing Law
Dispute Resolution
Notices
Amendments
Entire Agreement
Severability
Counterparts
Time of Essence
Survival
Further Assurances
Relevant Industries
Relevant Teams
Relevant Roles
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