Yes, Baltia received a letter of termination from AerSale, the Seller;
Yes, the Escrow Agent shall pay to Buyer the balance of any funds held by the Escrow Agent...
The $1,000,000.00 Purchase Deposit was removed from that balance on 9/1/2017.
If Aerline had been at fault, then Baltia could have gotten the Purchase Deposit back.
a) By Buyer:
iii. upon receipt of a copy of Buyer’s written notice of termination to Seller pursuant to paragraphs 8.1(a)i. or (a)ii. above, Seller shall pay to Buyer the Purchase Deposit, and the Escrow Agent shall pay to Buyer the balance of funds held by the Escrow Agent pursuant to the Escrow Agreement, after deducting Buyer’s half of the escrow fee charged by the Escrow Agent in connection with the Escrow Agreement in the event that such half shall not have already been paid separately by Buyer.
