Aircraft Purchase Agreement A GRADED

Aircraft Purchase Agreement This Aircraft Purchase Agreement, dated October 30, 20XX, is between Supersonic Wings Corp., a Delaware corporation (the “Seller”), and Fly-by-Night Aviation, Inc., a New York corporation (the “Buyer”). Background This Agreement provides for the sale of the Seller’s Icarus Aerospace Corporation I-800 to the Buyer. Accordingly, the parties agree as follows: Article 1 — Definitions 1.1 Defined Terms. Terms defined in the preamble have their assigned meanings, and each of the following terms has the meaning assigned to it. (a) “Agreement” means this Aircraft Purchase Agreement and all its Schedules and Exhibits, as each may be amended from time to time. (b) “Aircraft” means Airframe (as defined in Section 1.1c), equipped with the Engines (as defined in Section 1.1n), together with all appliances, avionics, furnishings, and other components, equipment, and property incorporated in or otherwise related to the Airframe or Engines. (c) “Airframe” means the Icarus Aerospace Corporation I-800 aircraft, bearing United States Registration Number N765BW and Manufacturer’s Serial Number 8181. (d) “Assigned Contracts” means the Maintenance Agreement and the Pilot Agreement. (e) “Assumed Liabilities” means, collectively, all liabilities and obligation of the Seller that arise under either (a) the Maintenance Agreement on or after the Closing Date or (b) the Pilot Agreement on or after the Closing Date. (f) “Aviation Fuel” means the gas or liquid that is used to create power to propel the