Affected Aircraft definition
Examples of Affected Aircraft in a sentence
Seller hereby agrees that, provided a Replacement Notice is received within five (5) Business Days (or such shorter period agreed between Seller and Purchaser) following such termination of the Affected Aircraft, upon receipt of the Replacement Notice it shall use reasonable commercial efforts to replace the Affected Aircraft with the next substitute alternative aircraft made available by the Airframe Manufacturer that meets the Specification.
Either pursuant to the Agreement or by mutual agreement between Boeing and Buyer, in the event the scheduled month of delivery of any Aircraft is revised or Model 737 aircraft are substituted for one Aircraft such that the Affected Aircraft scheduled months of delivery are revised from those identified in paragraph 1.
Seller hereby agrees that, provided a Replacement Notice is received within five (5) Business Days (or such shorter period agreed between Seller and Purchaser) following such termination of the Affected Aircraft, upon receipt of the Replacement Notice it shall use reasonable commercial efforts to replace the Affected Aircraft with the next substitute alternative aircraft made available by the Airframe Manufacturer that meets the Airbus Delivery Condition Specification (the “Replacement Aircraft”).
Seller shall then return to Buyer the prorata portion of the unapplied First and Second (and third, if applicable) Downpayments with respect to such Affected Aircraft within five (5) business days.
If such election to terminate is made, then termination under this Section with respect to such Affected Aircraft shall terminate and discharge all obligations and liabilities of Buyer and Seller hereunder with respect to such Aircraft and all undelivered items and services to be furnished hereunder which are related thereto.
If, following such sixty-day period or ninety-day period, as the case may be, with respect to a delay under this Section 4.7, this Agreement is not terminated with respect to the Affected Aircraft in accordance with the provisions of this Section 4.7, then the time of delivery otherwise required hereunder shall be extended unless and until terminated in accordance with this Section 4.7.