1.1 (a) Subject to the provisions of this Agreement, the seller undertakes to sell and deliver the buyer and the buyer agrees to purchase and take all rights to the seller. The title and interest in and for this specific registration number – and the FAA registration number N__________; with two ________Modellmotoren bearing the manufacturer`s serial numbers, and all equipment, features, accessories, instruments and components as well as any other parts attached to them, all bulk equipment and spare parts, as well as all aircraft documents referred to in point 1.1 b) and, furthermore, described in Appendix A (all the above items are described above). which are referred to as “airplane”) together. 3.2. Authority. The seller is fully entitled to meet its obligations under this agreement and has taken all necessary steps to authorize the purchase in accordance with the terms of the agreement. This contract, duly executed, binds the seller into a legal obligation and can be implemented according to his conditions. Speaking of conclusion, the sales contract should define in detail how it will work. Many business jets are sold in “escrow closures” where an attorney (usually in Oklahoma City, Oklahoma, near the U.S. Aircraft Registry) holds all important documents and funds and, if requested, wires money and files registration documents in U.S. and international records.
(If you do not plan a fiduciary closing, there is no good reason to obtain trust funds.) However, if the closure involves the reduction of a bank pledge fee for the aircraft, the agreement may have to provide that the bank will confirm the obtaining of funds before the proceeds of the closure. If the conclusion involves the registration of the aircraft in a new jurisdiction, the agreement may provide that the deregistration occurs before the funds are wired. “Escrow Agreement” refers to the escrow agreement between the seller and the buyer. However, for transactions involving international jurisdictions outside the United States, it is necessary to make certificates that may differ from the standard in the states and contractual provisions that may seem strange to owners and purchasers of U.S. aircraft (. B for example, the lawyer of a party who acts as an agent or the seller insured after the closure as an additional insured in the buyer`s aviation policy) may be commonplace in Europe or Asia. Certain _____N________die manufacturer`s serial numbers – as well as all other devices, data, instruments, accessories, accessories, equipment or other equipment or objects installed or connected to these aircraft on these aircraft, as well as aircraft equipment and documents associated with the above parts, as defined in this aircraft purchase agreement (the agreement) between the seller and the purchase unit.