Opinion ID: 741530
Heading Depth: 2
Heading Rank: 2

Heading: Tax opinion of Hawaiian counsel

Text: 11 Section 3.15 of the contract provides that: 12 Buyer's obligations hereunder to purchase the Aircraft and assume the Seller's interest in the Lease Documents shall be subject to fulfillment of the following conditions precedent to the reasonable satisfaction of Buyer: 13 3.15 Opinion of Hawaiian Counsel. An opinion of counsel mutually acceptable to both Buyer and Seller that the agreed upon location of the Aircraft at the time of the Closing on the Closing Date will permit the transaction completed by this Agreement not to be subject to taxation by the State of Hawaii. 14 According to Section 1.4(k) of the contract, this opinion of counsel did not have to be provided until the closing of the sale: 15 Seller's and USAI's Actions. Subject to the terms and conditions hereof, at the Closing Seller and USAI shall take the following actions: 16 (k) execute and deliver all other instruments, certificates and other documents, and take all other actions, as are required, in the reasonable opinion of Buyer, to be executed and delivered or taken by Seller and USAI on or before the date of the Closing in order to consummate the transactions contemplated hereby. 17 (emphasis added). The Hawaiian tax opinion is a document required to close; as such under Section 1.4(k) it is due at the closing. Because the sale never closed, USL was never obligated to deliver the opinion. USL's failure to deliver the opinion, then, did not discharge Wien's duty to perform under the contract. Mr. Doust's testimony to the effect that USL should have provided Wien with a copy of the letter as soon as USL received it is not enough to create a triable issue of fact on this point. Therefore, we affirm the district court's grant of summary judgment in favor of USL's declaratory relief claim on this issue.