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h a 'Party". WHEREAS, Seller is the owner of the legal and beneficial title to the Aircraft (as defined below); and WHEREAS, Seller desires to sell the Aircraft to Buyer, and Buyer desires to purchase the Aircraft from Seller, pursuant to the terms and conditions set forth in this Agreement, Now, therefore, in consi
sing, Buyer and Seller shall each become a "transacting user entity" (as such term is defined and used in the International Registry Procedures and International Registry Regulations) with the International Registry. Each of Buyer and Seller shall bear its own expense in doing so. (b) Cape Town Administrator. Each Party shall p
ch a Party". WHEREAS, Seller is the owner of the legal and beneficial title to the Aircraft (as defined below); and WHEREAS, Seller desires to sell the Aircraft to Buyer, and Buyer desires to purchase the Aircraft from Seller, pursuant to the terms and conditions set forth in this Agreement, Now, therefore, in consi
sing, Buyer and Seller shall each become a "transacting user entity" (as such term is defined and used in the International Registry Procedures and International Registry Regulations) with the International Registry. Each of Buyer and Seller shall bear its own expense in doing so. (b) Cape Town Administrator. Each Party shall p
complied with by Seller, on or prior to the time of the Closing, 5.3 Conditions to Seller's Obligation to Sell. The obligation of Seller to sell the Aircraft to Buyer is subject to the satisfaction by Buyer or, if applicable, the waiver by Seller of each of the following conditions on or prior to the Closing Date:
rom the International Registry, and has appointed an "administrator" (as such term is defined and used in the International Registry Procedures and International Registry Regulations). I I .3 Professional User Entity. Each party shall, as a condition to Closing, authorize Escrow Agent to act as, and shall designate Escrow Agent
Entities connected to both the Aircraft to Buyer and International Registry Regulations
the Deposit to Buyer
ORGANIZATIONthe State of New York
LOCATION
George W. Bush
PERSONthe Inspection Facility's
ORGANIZATIONthe Closing, Buyer
ORGANIZATIONAny Priority Search Certificate
ORGANIZATION
Cape Town
LOCATIONConvention
ORGANIZATION
Glenn Dubin
PERSONHERETO
ORGANIZATIONInsured Aircraft Title Service
ORGANIZATIONCape Town Convention
LOCATIONthe International Registry Procedures
ORGANIZATIONHoneywell MSP
ORGANIZATIONDM US
ORGANIZATIONMcDermott Will & Emery LLP
ORGANIZATIONWarranty Bill of Sale
PERSON
SaIlor
PERSONSellef
PERSONClosing Dato
PERSON