Common use of Periods and Seller’s Undertakings Clause in Contracts

Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item [*] after the delivery of said Aircraft to the Buyer, the Seller shall at its reasonable discretion and as promptly as practicable and with the Seller’s financial participation as hereinafter provided either: 12.2.2.1 design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or, 12.2.2.2 replace such Item.

Appears in 2 contracts

Samples: Purchase Agreement (Avianca Holdings S.A.), Purchase Agreement (Avianca Holdings S.A.)

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Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item [*] within * years after the delivery of said Aircraft to the Buyer, whichever shall first occur, the Seller shall at its reasonable own discretion and as promptly as practicable and with the Seller’s 's financial participation as hereinafter provided either: 12.2.2.1 design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or, 12.2.2.2 replace such Item.

Appears in 1 contract

Samples: Purchase Agreement (Tam S.A.)

Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item [before the Aircraft in which such Item has been originally installed has completed *] after **** the delivery Delivery of said Aircraft to the Buyer, whichever shall first occur, the Seller shall at its reasonable own discretion and as promptly as practicable and with the Seller’s financial participation as hereinafter provided either: 12.2.2.1 design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or, 12.2.2.2 replace such Item.

Appears in 1 contract

Samples: Purchase Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.)

Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item before the Aircraft in which such Item has been originally installed has completed [***] after the delivery Delivery of said Aircraft to the Buyer, , the Seller shall at its reasonable own discretion and as promptly as practicable and with the Seller’s financial participation as hereinafter provided either: 12.2.2.1 design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or, 12.2.2.2 replace such Item.

Appears in 1 contract

Samples: Purchase Agreement (Latam Airlines Group S.A.)

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Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item [*] **** after the delivery Delivery of said Aircraft to the BuyerAircraft, whichever shall first occur, the Seller shall shall, at its reasonable discretion and as promptly as practicable and with the Seller’s financial participation as hereinafter provided provided, either: 12.2.2.1 design : ***** Confidential portions of the material have been omitted and furnish to filed separately with the Buyer a correction for such Item with a Failure Securities and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or, 12.2.2.2 replace such ItemExchange Commission.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Frontier Group Holdings, Inc.)

Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item [***] after the delivery Delivery of said the Aircraft to the Buyerin which such Item was originally installed, the Seller shall shall, at its reasonable discretion and as promptly as practicable and with the Seller’s financial participation as hereinafter provided provided, either: 12.2.2.1 : • design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or, 12.2.2.2 or • replace such Item.

Appears in 1 contract

Samples: Purchase Agreement (China Southern Airlines Co LTD)

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