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Exhibit 10.60
PARTIAL ASSIGNMENT OF PURCHASE AGREEMENT
AND CONSENT (N375SK/MSN145569)
THIS PARTIAL ASSIGNMENT OF PURCHASE AGREEMENT AND CONSENT (N375SK/MSN145569)
(this "Assignment") is dated as of the ___ day of February, 2002, and is among
SOLITAIR CORP., a Delaware corporation ("Seller"), as assignor, CHAUTAUQUA
AIRLINES, INC., a New York corporation ("Buyer"), as assignee, and EMPRESA
BRASILEIRA DE AERONAUTICA S.A., a Brazilian corporation ("Embraer"), as
consenting party.
W I T N E S S E T H:
WHEREAS, pursuant to that certain Purchase Agreement No.GCT-025/98 (the
"Embraer Purchase Agreement") between Seller and Embraer, Embraer has agreed to
sell to Seller, among other things, an Embraer model EMB-145 model EMB-135 KL
aircraft, Embraer's serial number 145569 and United States Registration Number
N375SK (the "Aircraft") and two (2) Allison AE3007A1/3 engines (serial numbers
CAE312062 and CAE312065) (the "Aircraft"); and
WHEREAS, Seller wishes to assign to Buyer and Buyer is willing to accept
the assignment of, Seller's right under the Embraer Purchase Agreement to take
title to and to accept the Aircraft; and
WHEREAS, Seller and Buyer wish to accomplish such assignment pursuant to
the terms and conditions of this Assignment, and Embraer wishes to consent to
such assignments.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein and for other valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Seller and Buyer hereby agree (and
Embraer consents) as follows:
1. Seller hereby assigns and transfers to Buyer and Buyer hereby
accepts such assignment and transfer of, (a) Seller's right, upon
valid tender by the Manufacturer, to accept and take title to the
Aircraft; and (b) the following warranties and indemnities to the
extent that they relate to the Aircraft: the remaining warranties
set forth in Articles 12, 13, 14, 15 of the Embraer Purchase
Agreement and Attachments B and C of the Purchase Agreement
("Assigned Warranties").
2. In accordance with the Purchase Agreement, Seller's assignment
herein is subject to the following conditions:
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(a) Buyer is not and will not be owned, effectively controlled or
managed by any airframe manufacturer which competes with Embraer in
the thirty-seven (37) to seventy (70) seat turbo jet market; and
(b) In the event Buyer subsequently transfers the Aircraft and/or
any of Buyer's remaining rights to the Assigned Warranties with
respect to the Aircraft, to any other entity, Buyer agrees to notify
Embraer of the identity of such entity at least thirty (30) calendar
days prior to such transaction (provided that if Buyer fails to
notify Embraer within this time, Buyer may not assign its remaining
rights without Embraer's consent, which shall not be unreasonably
withheld) and provide Embraer with prior written notice of any
events under such agreement that would cause any rights thereby
assigned to revert to Buyer under such agreement; provided, however,
that, pursuant to the Embraer Purchase Agreement, Buyer shall not
transfer the Aircraft to an entity which is owned, effectively
controlled or managed by any airframe manufacturer which competes
with Embraer in the thirty-seven (37) to seventy (70) seat turbo jet
market.
3. Embraer hereby consents to the foregoing assignment by Seller to
Buyer under and pursuant to the terms and conditions of this
Assignment.
4. Buyer confirms, for Embraer's benefit, that in exercising any rights
under the Embraer Purchase Agreement or in making any claim with
respect to the Aircraft or other goods and services delivered or to
be delivered pursuant to the Embraer Purchase Agreement, the terms
and conditions of the Embraer Purchase Agreement shall apply to and
bind Buyer (and any assignee of Buyer) to the same extent as Seller.
5. Except as stated herein, nothing contained herein shall subject
Embraer to any liability to which it would not otherwise be subject
under the Embraer Purchase Agreement or modify in any respect the
rights of Embraer thereunder.
6. This Assignment (and the acknowledgement and consent to be signed by
Embraer) may be executed in separate counterparts, each of which
when so executed and delivered shall be an original and all such
counterparts shall together constitute one and the same instrument.
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7. This Assignment shall be governed by and construed in accordance
with the laws of the State of New York without reference to any
choice of law rules thereof that would result in a choice of law
other than that of New York.
SIGNATURE PAGE FOLLOWS
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IN WITNESS WHEREOF, Seller, Buyer and Embraer have caused this Partial
Assignment of Purchase Agreement and Consent (N375SK/MSN145569) to be duly
executed as of the date and year first above written.
SOLITAIR CORP., a Delaware corporation
BY:
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NAME:
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TITLE:
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CHAUTAUQUA AIRLINES, INC., a New York corporation
By:
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Name:
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Title:
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CONSENTED TO BY EMPRESA BRASILEIRA DE AERONAUTICA S.A., a
Brazilian corporation
By:
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Name:
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Title:
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By:
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Name:
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Title:
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NOTE TO EXHIBIT 10.60
The three additional Partial Assignments of Purchase Agreements and Consents
are substantially identical in all material respects to the filed Partial
Assignment of Purchase Agreement and Consent except as follows:
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TAIL NUMBER CLOSING DATE OWNER-PARTICIPANT
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N372SK December, 2001 Embraer
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N373SK December, 2001 Embraer
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N374SK December, 2001 Embraer
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</Table>