Only if Aersale messed up.
2.2 Purchase Price; Purchase Deposit . The consideration payable for purchase of the Shares is Six Million Five Hundred Thousand dollars
($6,500,000), plus an amount equal to the sum of the Deposits (together, the " Purchase Price "). Immediately prior to Closing, Buyer will transfer to the Escrow Agent the remaining balance of funds, which, together with the Purchase Deposit, will be sufficient to fully pay the Purchase Price to Seller. Seller and Buyer acknowledge that the Purchase Deposit has been paid into escrow with the Escrow Agent, and that it is non-refundable and payable to Seller in all circumstances other than those specified in Section 8.1, and immediately upon execution of this Agreement, Seller and Buyer shall instruct Escrow Agent in writing to release the Purchase Deposit to Seller by wire transfer as specified in Section 2.3 below.
Refundable if terminated by the Buyer: if any Order restraining, prohibiting or enjoining Seller from consummating the Transaction shall have been entered and such Order shall have become a final Order at any time before the earlier of the Closing or October 31, 2017;
Or: at any time after October 31, 2017, if the Closing shall not have occurred solely because there shall have been a material breach by Seller of any of its representations, warranties, covenants, obligations or agreements contained in this Agreement, which breach would result in the failure to satisfy one or more of the conditions set forth in Section 7.1 , and such breach shall be incapable of being cured or, if capable of being cured, shall not have been cured within fifteen (15) days after written Notice thereof shall have been received by Seller, and in any event not cured on or before October 31;
The 15 days to cure any breach is probably where the November 15 drop dead date is coming from.
AI
