Common use of New Engine Option Clause in Contracts

New Engine Option. 2.1.2.1 The Seller is currently developing a new engine option (the “New Engine Option” or “NEO”), applicable to the A319/A320/A321 aircraft. The specification of the A319/A320/A321 NEO Aircraft shall be derived from the current A319/A320/A321 respective Standard Specifications and based on the new Propulsion Systems, as set forth in Clause 2.3 below, and Sharklets, as well as required airframe structural modifications and Aircraft systems and software adaptations required to operate such New Engine Option Aircraft. The foregoing is currently reflected in the Irrevocable SCNs listed in Exhibit B of this Amendment N°2, the implementation of which is hereby irrevocably accepted by the Buyer.

Appears in 2 contracts

Sources: A320 Purchase Agreement (Avolon Holdings LTD), A320 Purchase Agreement (Avolon Holdings LTD)

New Engine Option. 2.1.2.1 The Seller is currently developing a new engine option (the “New Engine Option” or “NEO”), applicable to the A319/A320/A321 aircraft. The specification of the A319/A320/A321 NEO Aircraft shall will be derived from the current A319/A320/A321 respective A321-200 Aircraft Standard Specifications Specification and based on the new Propulsion Systems, as set forth in Clause 2.3 below, and Sharklets, combined with the required airframe structural adaptations, as well as required airframe structural modifications and Aircraft systems and software adaptations required to operate such New Engine Option Aircraft. The foregoing is currently reflected in the Irrevocable SCNs listed in Appendix 1 to Exhibit B of this Amendment N°2A, the implementation of which is hereby irrevocably accepted by the Buyer.

Appears in 1 contract

Sources: A320 Neo Family Purchase Agreement (Air Lease Corp)