Common use of Periods and Seller’s Undertakings Clause in Contracts

Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item before the Aircraft in which such Item was originally installed has completed **** flying hours or **** flight cycles or within **** after the Delivery of said Aircraft, whichever shall first occur, the Seller shall, at its discretion and as promptly as practicable and with the Seller’s financial participation as hereinafter provided, either: • design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or • replace such Item.

Appears in 2 contracts

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

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Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item before the Aircraft in which such Item was has been originally installed has completed **** flying hours hours, or *has completed *** flight cycles cycles, or within **** after the Delivery of said AircraftAircraft to the Buyer, whichever shall first occur, the Seller shall, shall at its own discretion and as promptly as practicable and with the Seller’s 's financial participation as hereinafter provided, provided either: • design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or • replace such Item.:

Appears in 2 contracts

Samples: Letter Agreement (China Southern Airlines Co LTD), Letter Agreement (China Southern Airlines Co LTD)

Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item before the Aircraft in which such Item was originally installed has completed [**** **] flying hours or [**** **] flight cycles or within [**** **] after the Delivery of said Aircraft, whichever shall first occur, the Seller shall, at its discretion and as promptly as practicable and with the Seller’s financial participation as hereinafter provided, eithereither : - design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or - replace such Item.

Appears in 1 contract

Samples: A320 Neo Purchase Agreement (Azul Sa)

Periods and Seller’s Undertakings. The [***]the Seller agrees that if a Failure occurs in an Item before the Aircraft in which such Item was originally installed has completed [**** ]flying hours or [**** ]flight cycles or within [**** ] after the Delivery of said Aircraft, whichever shall first occur, the Seller shall, at its discretion and as promptly as practicable and with the Seller’s financial participation as hereinafter provided, eithereither : • design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or • replace such Item.

Appears in 1 contract

Samples: Letter Agreement (Avianca Holdings S.A.)

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Periods and Seller’s Undertakings. The Seller agrees that if a Failure occurs in an Item before the Aircraft in which such Item was originally installed has completed **** flying hours or **** *flight cycles or within **** *after the Delivery of said Aircraft, whichever shall first occur, the Seller shall, at its discretion and as promptly as practicable and with the Seller’s financial participation as hereinafter provided, either: - design and furnish to the Buyer a correction for such Item with a Failure and provide any parts required for such correction (including Seller designed standard parts but excluding industry standard parts), or - replace such Item.

Appears in 1 contract

Samples: A320 Purchase Agreement (Avolon Holdings LTD)

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