Exhibit A
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
Aircraft.
(g) “Bank” has the meaning assigned to it in Section 4.5.
(h) “Closing” means the consummation of the transactions that this Agreement
contemplates.
(i) “Closing Date” has the meaning assigned to it in Section 2.3.
(j) “Consent” means any consent of, approval of, authorization of, notice to, or
designation, registration, declaration, or filing with any Person.
, (k) “Contract” means, with respect to any Person, any contract, lease, agreement,
license, arrangement, commitment, or understanding to which that Person is a
party or by which it or any of its properties or assets may be bound or affected.
(l) “Escrow Agent” means Harold C. Astor & Associates, an Oklahoma partnership.
(m) “Escrow Agreement” means the Escrow Agreement, dated as of August 30,
20X2, between Seller, Buyer and the Escrow Agent.
(n) “Escrow Amount” means Buyer’s delivery of $300,000 in immediately available
funds to the Escrow Agent.
(o) “Engines” means the two Rolls-Royce engines, Model Number BR710, bearing
Serial Numbers 72725 and 72726.
(p) “Laws” means all federal, state, local, or foreign laws, rules, and regulations.
(q) “Lien” means any lien, charge, encumbrance, security interest, mortgage, or
pledge.
(r) “Maintenance Agreement” means the Maintenance Agreement, dated as of
April 3, 20X0, between Greasemonkeys, Inc. and the Seller, as it may be
amended from time to time.
(s) “Note” means Buyer’s promissory note in the principal amount of $5,000,000,
payable to the order of Seller, with interest at 9% per annum and due in a single
bullet payment on December 31, 20X8.
(t) “Order” means any judgment, award, order, writ, injunction, or decree issued by
any federal, state, local, or foreign authority, court, tribunal, agency, or other
governmental authority, or by any arbitrator, to which any Person or its assets are
subject.
(u) “Person” means any individual, partnership, joint venture, corporation, trust,
unincorporated organization, government (and any of its departments or
agencies), or other entity.
(v) “Pilot Agreement” means the Pilot Agreement, dated as of May 12, 20X1,
between Ace Pilots, Inc. and the Seller, as of the date of this Agreement.
(w) “Purchase Offer” means the Purchase Offer Agreement, dated August 30, 20X2
between Seller and Buyer.
Article 2 — Purchase and Sale
2.1 Purchase and Sale. At the Closing, the Seller shall sell the Aircraft to the Buyer, and the
Buyer shall purchase the Aircraft from the Seller.
2.2 Purchase Price. The purchase price for the Aircraft is
(a) $21,000,000 consisting of:
2
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
Aircraft.
(g) “Bank” has the meaning assigned to it in Section 4.5.
(h) “Closing” means the consummation of the transactions that this Agreement
contemplates.
(i) “Closing Date” has the meaning assigned to it in Section 2.3.
(j) “Consent” means any consent of, approval of, authorization of, notice to, or
designation, registration, declaration, or filing with any Person.
, (k) “Contract” means, with respect to any Person, any contract, lease, agreement,
license, arrangement, commitment, or understanding to which that Person is a
party or by which it or any of its properties or assets may be bound or affected.
(l) “Escrow Agent” means Harold C. Astor & Associates, an Oklahoma partnership.
(m) “Escrow Agreement” means the Escrow Agreement, dated as of August 30,
20X2, between Seller, Buyer and the Escrow Agent.
(n) “Escrow Amount” means Buyer’s delivery of $300,000 in immediately available
funds to the Escrow Agent.
(o) “Engines” means the two Rolls-Royce engines, Model Number BR710, bearing
Serial Numbers 72725 and 72726.
(p) “Laws” means all federal, state, local, or foreign laws, rules, and regulations.
(q) “Lien” means any lien, charge, encumbrance, security interest, mortgage, or
pledge.
(r) “Maintenance Agreement” means the Maintenance Agreement, dated as of
April 3, 20X0, between Greasemonkeys, Inc. and the Seller, as it may be
amended from time to time.
(s) “Note” means Buyer’s promissory note in the principal amount of $5,000,000,
payable to the order of Seller, with interest at 9% per annum and due in a single
bullet payment on December 31, 20X8.
(t) “Order” means any judgment, award, order, writ, injunction, or decree issued by
any federal, state, local, or foreign authority, court, tribunal, agency, or other
governmental authority, or by any arbitrator, to which any Person or its assets are
subject.
(u) “Person” means any individual, partnership, joint venture, corporation, trust,
unincorporated organization, government (and any of its departments or
agencies), or other entity.
(v) “Pilot Agreement” means the Pilot Agreement, dated as of May 12, 20X1,
between Ace Pilots, Inc. and the Seller, as of the date of this Agreement.
(w) “Purchase Offer” means the Purchase Offer Agreement, dated August 30, 20X2
between Seller and Buyer.
Article 2 — Purchase and Sale
2.1 Purchase and Sale. At the Closing, the Seller shall sell the Aircraft to the Buyer, and the
Buyer shall purchase the Aircraft from the Seller.
2.2 Purchase Price. The purchase price for the Aircraft is
(a) $21,000,000 consisting of:
2
