General Terms and Conditions:
Seller Escrow Hold‐Back Authorization
Seller authorizes Aero‐Space Reports (Escrow Agent) to hold back the amount of $ US Dollars (“Hold‐Back Amount”) from Seller’s proceeds for a period of thirty (30) days after the date of closing.
The Hold‐Back Amount shall first be applied to the cost of the post‐closing Post‐Closing Inspection and then to the expenses of the correction of any airworthiness discrepancies.
At the expiration of the thirty (30) days after the date of the closing, Escrow Agent shall release any balance of the Hold‐ Back Amount to Seller.
Date of Closing:
(“Purchaser”) hereby acknowledges delivery and acceptance of that certain [manufacturer] [model] aircraft bearing manufacturer’s serial number and U.S. registration number (the “Aircraft”) from (“Seller”), at o’clock (am / pm) local time on the day of
, 2020, at , pursuant to the terms and conditions of the Aircraft Purchase Agreement dated as of , 2019, between Purchaser and Seller (the “Agreement”). Purchaser hereby acknowledges thatthe Aircraft satisfies all of the requirements, terms and conditions of the Agreement. By reason of the execution anddelivery by Purchaser of this Aircraft Delivery Receipt, it is conclusively presumed that (i) Purchaser has approved andaccepted the Aircraft and the Aircraft Documents (as defined in the Agreement) “as is, where is” in its then‐currenttechnical condition and state of repair, with all faults, limitations and defects (whether hidden or apparent), regardlessof cause; and (ii) except for Seller’s warranty of title to the Aircraft and representations and warranties contained in theAgreement and the Warranty Bill of Sale, Seller has not made with respect to the condition of the Aircraft anyrepresentation, warranty or guaranty of any kind, express or implied, whether arising in law, in equity, in contract, or in tort, including, without limitation, any implied warranty of merchantability, airworthiness, design, condition, orfitness for a particular use.
TOTAL TIME AIRFRAME: hours cycles TOTAL TIME ENGINES:
Engine : hours cycles Engine : hours cycles APU hours cycles
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