Flight Training Devices Sample Clauses

Flight Training Devices. The Initial Determination for Flight Training Devices will be based on the assumptions set forth below, and the Asset Values to be calculated at each of the Closing Determination and Final Determination for Flight Training Devices will be determined as set forth below. i. Each such Flight Training Device is complete with all parts, records, authorizations and indicia of title, as necessary, in all material respects. If such Flight Training Device is missing parts and Seller cannot replace such parts, then Buyer may elect to include such Flight Training Device as a Reappraisal Item or exclude such Flight Training Device from the Included Assets. If Buyer elects to exclude such item, then the Aggregate Asset Value at the Closing Determination and the Final Determination shall not include the Initial Determination with respect to such Flight Training Device. ii. Unless otherwise specified on the Tangible Asset List, such Flight Training Device is functional and in good working order. If such Flight Training Device is not functional or not in good working order (regardless of whether such condition is specified on the Tangible Asset List), then Buyer may elect to include such Flight Training Device as a Reappraisal Item or exclude such Flight Training Device from the Included Assets. If Buyer elects to exclude such item, then the Aggregate Asset Value at the Closing Determination and the Final Determination shall not include the Initial Determination with respect to such Flight Training Device. iii. The Asset Value of the Flight Training Devices at the Closing Determination and the Final Determination will be the Initial Determination and will not be subject to further adjustment unless otherwise determined by Buyer to be a Reappraisal Item.
Sample 1
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Related to Flight Training Devices

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