Total Loss or Material Damage before Delivery. 7.1.1 If before Delivery the Aircraft suffers a Total Loss or Material Damage, the Seller shall notify the Buyer in writing thereof as soon as practicable after being notified of such event and, with effect from the date of such Total Loss or Material Damage, the Seller's obligation to sell and the Buyer's obligation to purchase the Aircraft shall terminate.
Appears in 4 contracts
Samples: Of Purchase Agreement, Aerlift Purchase Agreement, Aircraft Sale and Purchase Agreement (Aerocentury Corp)
