Total Loss prior to Sale. If an Aircraft suffers a Total Loss prior to the Sale of that Aircraft, relevant Seller shall as soon as reasonably practicable after having been notified by Lessee of the same notify Buyer in writing and this Agreement shall terminate in as far as it relates to that Aircraft and none of the parties will have any further obligation or liability to the others in respect of that Aircraft except in respect of any breach of its obligations under any Sale Document prior to such termination, any obligations expressed to survive such termination and the obligation of Seller to make any payment to the Buyer in accordance with Article 3.2 but this Agreement shall continue in full force and effect for the remaining Aircraft.
Appears in 4 contracts
Samples: Aircraft Lease Agreement, Aircraft Sale Agreement, Aircraft Lease Agreement (Air T Inc)
