Common use of Sale of Covered Aircraft Clause in Contracts

Sale of Covered Aircraft. New Agreement with Purchaser. In the event the Client de- termines to sell the Covered Aircraft during the term of this Agreement, the Client shall provide written notice to AEPC™ at least ten (10) days prior to the date of closing of such sale. Such notice shall include the name, telephone number, email address, and address of the Purchaser, the Covered Aircraft and Airframe Operating Hours as of the closing date, and any other information reasonably requested by AEPC™. If the Client is in full compliance with the terms and conditions of this Agreement at the time of sale, the Purchaser’s creditworthiness is acceptable to AEPC™, the Purchaser is acceptable to AEPC™, and the Purchaser desires to maintain enrollment in the Program, AEPC™ and the Client shall take all necessary steps to arrange for the execution and delivery of a new agreement between AEPC™ and the Purchaser. The new agreement will be subject to the then-current AEPC™ terms and conditions, including the then current Hourly Rate and Transfer Fee, and shall be entered into on or before the closing date of such sale. The beginning Account Balance under such new agreement shall be equal to the amount of the Account Balance at the conclusion of this Agreement, calculated as described in Exhibit A. In addition, this Agreement shall be terminated, and neither AEPC™ nor the Client shall have any further obligations under this Agreement, effective as of the date AEPC™ and the Purchaser enter into the new term agreement.

Sale of Covered Aircraft. New Agreement with Purchaser. In the event the Client de- termines to sell the Covered Aircraft during the term of this Agreement, the Client shall provide written notice to AEPC™ at least ten (10) days prior to the date of closing of such sale. Such notice shall include the name, telephone number, email address, and address of the Purchaser, the Covered Aircraft and Airframe Airframe/Engine(s) Operating Hours as of the closing date, and any other information reasonably requested by AEPC™. If the Client is in full compliance with the terms and conditions of this Agreement at the time of sale, the Purchaser’s creditworthiness is acceptable to AEPC™, the Purchaser is acceptable ac- ceptable to AEPC™, and the Purchaser desires to maintain enrollment in the Program, AEPC™ and the Client shall take all necessary steps to arrange for the execution and delivery de- livery of a new agreement between AEPC™ and the Purchaser. The new agreement will be subject to the then-current AEPC™ terms and conditions, including the then current Hourly Rate and Transfer Fee, and shall be entered into on or before the closing date of such sale. The beginning Account Balance under such new agreement shall be equal to the amount of the Account Balance at the conclusion of this Agreement, calculated as described in Exhibit A. In addition, this Agreement shall be terminated, and neither AEPC™ nor the Client shall have any further obligations under this Agreement, effective as of the date AEPC™ and the Purchaser enter into the new term agreement.

Sale of Covered Aircraft. New Agreement with Purchaser. In the event the Client de- termines to sell the Covered Aircraft during the term of this Agreement, the Client shall provide written notice to AEPC™ at least ten (10) days prior to the date of closing of such sale. Such notice shall include the name, telephone number, email address, and address of the Purchaser, the estimated Covered Aircraft and Airframe Engine Operating Hours as of the closing date, and any other information reasonably requested by AEPC™. If the Client is in full compliance with the terms and conditions of this Agreement at the time of sale, the Purchaser’s creditworthiness is acceptable to AEPC™, the Purchaser is acceptable ac- ceptable to AEPC™, and the Purchaser desires to maintain enrollment in the Program, AEPC™ and the Client shall take all necessary steps to arrange for the execution and delivery de- livery of a new agreement between AEPC™ and the Purchaser. The new agreement will be subject to the then-current AEPC™ terms and conditions, including the then current Hourly Rate and Transfer Fee, and shall be entered into on or before the closing date of such sale. The beginning Account Balance under such new agreement shall be equal to the amount of the Account Balance at the conclusion of this Agreement, calculated as described in Exhibit A. In addition, this Agreement shall be terminated, and neither AEPC™ nor the Client shall have any further obligations under this Agreement, effective as of the date AEPC™ and the Purchaser enter into the new term agreement.