Common use of Notice of Exercise and Payment of Deposit Clause in Contracts

Notice of Exercise and Payment of Deposit. 3.1 Customer shall give written notice to Boeing (Notice of Exercise) of its desire to exercise a Purchase Right. Such notice shall be accompanied by payment by electronic transfer to the account specified below of Boeing’s then standard proposal deposit for model 737-800 aircraft (Deposit) for each Purchase Right Aircraft subject to the Notice of Exercise. The Deposit will be applied against the first advance payment due for each such Purchase Right Aircraft. JPMorgan Chase ABA No. 000000000 Account No. 000-0-000000