Deposit and Escrow Agent. Seller acknowledges that Buyer has deposited the amount of One Million Dollars (US$1,000,000.00) (the “Deposit”) with Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality request. Omissions are designated as [***]. A complete version of this Exhibit has been filed separately with the Securities and Exchange Commission. Insured Aircraft Title Service, Inc., ▇▇▇▇ ▇.▇. ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention ▇▇▇▇ ▇▇▇▇▇▇▇, Telephone (▇▇▇) ▇▇▇-▇▇▇▇ or (▇▇▇) ▇▇▇-▇▇▇▇, Facsimile (▇▇▇) ▇▇▇-▇▇▇▇ (the “Escrow Agent”). The Deposit shall be held in escrow by Escrow Agent, shall be non-refundable and applied towards the Purchase Price, except (i) in the event Buyer rejects the Aircraft (as provided in accordance with Section 2.3); (ii) in the event Seller refuses or fails to promptly correct, at its sole cost, the Discrepancies to the reasonable satisfaction of the Inspection Facility (as required in accordance with Section 2.4); (iii) in the event Seller fails to timely deliver the Aircraft as required hereunder to Buyer; or (iv) as otherwise provided in this Agreement. Upon the occurrence of any of the foregoing, the transactions contemplated by this Agreement (the “Transactions”) shall be terminated, and upon Buyer’s receipt of the Deposit, the provisions set forth in Section 8.2 shall apply.
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Sources: Aircraft Purchase and Sale Agreement, Aircraft Purchase and Sale Agreement (Abraxis BioScience, Inc.)