Inspection Facility definition
Examples of Inspection Facility in a sentence
The flat rate cost of the pre-purchase inspection (the “Pre-Purchase Inspection”), the scope of which shall be identified in Exhibit B, shall be at Buyer’s pre-paid expense, and shall commence upon arrival of the Aircraft at the Inspection Facility.
If the Aircraft is not in substantially the same condition as at the time of the Pre-Purchase Inspection (other than correction or repair of any identified airworthiness discrepancies) , it will be returned to the Inspection Facility for further repairs at Seller’s expense followed by another Test Flight.
In such event, Escrow Agent shall: (i) deduct from the Deposit and pay to itself one-half of any agreed upon Escrow Fees payable to Escrow Agent; and (ii) remit the balance of the Deposit to Buyer less any amounts owed by Buyer to the Inspection Facility or to the Seller or Escrow Agent under the terms hereof (and each of the parties hereby consents and directs Escrow Agent to disburse such funds accordingly).
Seller, at its sole cost and expense, shall also cause the Inspection Facility to perform any modifications, additions of equipment, compliance of inspections and similar items (over and above the Pre-Purchase Inspection), which are required by the FAA for the purpose of importing the Aircraft and obtaining the Airworthiness Certificate.
The Inspection can be done at a Certified Inspection Facility of the broker’s choice.