Common use of Purchaser Conditions Clause in Contracts

Purchaser Conditions. Purchaser's obligation to purchase the Aircraft shall be subject to fulfilment of each of the Purchaser Conditions Precedent on or before the Delivery Date (except to the extent that Purchaser agrees in writing in its absolute discretion to waive or defer any such condition). The Purchaser Conditions Precedent have been inserted for Purchaser's benefit and may be waived in writing, in whole or in part and with or without conditions, by Purchaser without prejudicing its right to receive fulfilment of such conditions, in whole or in part at any later time. If any of the Purchaser Conditions Precedent remain outstanding on the Final Delivery Date and are not waived or deferred in writing by Purchaser, Purchaser may at any time after close of business in New York on the Final Delivery Date terminate its obligation to purchase the Aircraft by notice, whereupon the rights and obligations of the parties hereunder shall cease and be discharged without further liability on the part of either Seller or Purchaser.

Appears in 2 contracts

Samples: Aircraft Sale (Global Aircraft Solutions, Inc.), Execution Version (Global Aircraft Solutions, Inc.)

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Purchaser Conditions. Purchaser's ’s obligation to purchase the an Aircraft shall be subject to fulfilment of each of the Purchaser Conditions Precedent for such Aircraft on or before the Delivery Date for such Aircraft (except to the extent that Purchaser agrees in writing in its absolute discretion to waive or defer any such condition). The Purchaser Conditions Precedent have been inserted for Purchaser's ’s benefit and may be waived in writing, in whole or in part and with or without conditions, by Purchaser without prejudicing its right to receive fulfilment of such conditions, in whole or in part at any later time. If any of the Purchaser Conditions Precedent with respect to an Aircraft remain outstanding on the applicable Final Delivery Date and are not waived or deferred in writing by Purchaser, Purchaser may at any time after close of business in New York on the Final Delivery Date terminate its obligation to purchase the such Aircraft by notice, whereupon the rights and obligations of the parties hereunder shall cease and be discharged without further liability on the part of either Seller or Purchaser and Seller shall return the respective Deposit to Purchaser.

Appears in 1 contract

Samples: Aircraft Lease Agreement (Allegiant Travel CO)

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Purchaser Conditions. Purchaser's ’s obligation to purchase the Aircraft shall be subject to fulfilment of each of the Purchaser Conditions Precedent on or before the Delivery Date (except to the extent that Purchaser agrees in writing in its absolute discretion to waive or defer any such condition). The Purchaser Conditions Precedent have been inserted for Purchaser's ’s benefit and may be waived in writing, in whole or in part and with or without conditions, by Purchaser without prejudicing its right to receive fulfilment of such conditions, in whole or in part at any later time. If any of the Purchaser Conditions Precedent remain outstanding on the Final Delivery Date and are not waived or deferred in writing by Purchaser, Purchaser may at any time after close of business in New York on the Final Delivery Date terminate its obligation to purchase the Aircraft by noticenotice to Seller, whereupon the rights and obligations of the parties hereunder shall cease and be discharged without further liability on the part of either Seller or Purchaser, save that Seller shall refund the Purchaser Deposit to Purchaser within five (5) Business Days of such notice.

Appears in 1 contract

Samples: Aircraft Sale & Purchase Agreement (Air T Inc)

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