Default of Buyer. 9.01. The occurrence of one or more of the following events shall constitute a default by Buyer hereunder: (a) Buyer's failure to accept delivery of the Aircraft upon tender thereof in the condition and at the time required by and otherwise in accordance with this Agreement; or (b) Buyer's failure to observe or perform any material obligation of Buyer under this Agreement. 9.02. If any such default should occur and Buyer does not cure default within ten (10) days after written request from Seller to do so, it shall constitute a "Buyer's Event of Default" hereunder. Upon the occurrence of a Buyer's Event of Default, Seller, without prejudice to any other remedy Seller may have against Buyer for damages to Seller resulting from Buyer's Event of Default, may, by written notice to Buyer, terminate this Agreement.
Appears in 7 contracts
Samples: Aircraft Purchase Agreement (American Income Partners Iv a L P), Aircraft Purchase Agreement (American Income Partners Iv B Lp), Aircraft Purchase Agreement (American Income Partners Iii-B Limited Partnership)
