SEC Contract Filing

Filing Date: 2023-12-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.14
<SEQUENCE>13
<FILENAME>ny20015054x6_ex10-14.htm
<DESCRIPTION>EXHIBIT 10.14
<TEXT>
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 <p style="margin-top: 0; margin-bottom: 0; text-align: right"><b>Exhibit 10.14</b></p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><u>PRE-DELIVERY PAYMENT AGREEEMENT</u></b></p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><b>THIS PRE-DELIVERY PAYMENT AGREEMENT</b> (this &#8220;<b>PDP Agreement</b>&#8221;) is dated effective as of October 5, 2022 (the &#8220;<b>Effective Date</b>&#8221;),
 by and between SAC LEASING V280, LLC, a Delaware limited liability company, as lender (&#8220;<b>PDP Lender</b>&#8221;), and VOLATO, INC., a Georgia corporation, as borrower (&#8220;<b>PDP Borrower</b>&#8221;).</p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><u>RECITALS</u></b></p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><b>WHEREAS</b>, PDP Borrower has entered into the Purchase Agreements with Vendor for the purchase of each of the Aircraft
 (true and correct copies of each of the Purchase Agreements, together with all amendments thereto, are attached hereto as composite <b><u>Exhibit A</u></b>); and</p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><b>WHEREAS</b>, PDP Borrower has requested that PDP Lender make certain pre-delivery or progress payments to the Vendor on
 behalf of PDP Borrower pursuant to the Purchase Agreements, subject to and in accordance with the terms and conditions set forth in this PDP Agreement.</p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><b>NOW THEREFORE</b>, in consideration of the mutual promises and covenants set forth herein and other good and valuable
 consideration, the receipt and sufficiency of which is hereby conclusively acknowledged, and in order to induce the PDP Lender to make the Pre-Delivery Payments (as such term is defined below) on behalf of PDP Borrower, the PDP Borrower and the PDP
 Lender, intending to be legally bound, hereby agree as follows:</p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">1.<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><b><u>Incorporation of
 Recitals; Defined Terms</u></b>. Each of the above recitals are true and correct in all material respects and are hereby incorporated by reference herein. Capitalized terms used but not otherwise defined herein, including capitalized terms used in
 the above recitals, shall have the meanings ascribed to them on <b><u>Annex A</u></b> to this PDP Agreement.</p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><font style="font-weight: normal">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u>Pre-Delivery Payments</u>.</b></p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in; margin-left: 0.5in">(a)<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>PDP
 Borrower hereby requests PDP Lender to make pre-delivery or progress payments (each, a &#8220;<b>Pre-Delivery Payment</b>&#8221; and collectively, the &#8220;<b>Pre-Delivery Payments</b>&#8221;) on behalf of PDP Borrower to Vendor pursuant to the Purchase Agreements as
 follows:</p>
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 <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 0.5in; margin-left: 1in">(i)<font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;</font>PDP Borrower
 requests