A. “Accepted” has the meaning described in section X of these Terms and Conditions.
B. “Article” has the meaning found in 14 C.F.R. § 21.1(b)(2).
C. An “Authorized Release Document” means a document as described in 14 C.F.R. § 21.137(o) or 14 C.F.R. § 43.9(a) and includes corollary release documents issued under the legal authority of another national aviation authority that has entered into a bilateral aviation safety agreement with the United States.
D. The term “Authorized Repair Facility” means an appropriately-rated facility, from the Company list of authorized repair facilities, that is designated by the Company.
E. An Article is considered “Beyond Economic Repair” when the estimated cost to return the Article to overhauled condition, in Company’s sole opinion, would exceed 70% of current OEM list price for the same Article. For an Article for which there is no current OEM list price, the Article is considered “Beyond Economic Repair” when the estimated cost to return the Article to overhauled condition, in Company’s sole opinion, would exceed 70% of fair market value of an overhauled Article; in such an analysis, “fair market value” will be assessed at the reasonable discretion of Company.
F. “Company” means National Aviation Inc.
G. A “Company Exchange Transaction” means a transaction in which the Company provides an Exchange Article to the Customer and the Customer is expected to provide to Company payment plus a Serviceable Core.
H. A “Company Sales Transaction” is any sale or contemplated sale of Goods by Company to a Customer, and includes a Quote and/or a non-consummated offer of sale.
I. “Customer” means a person that has sought to do business with Company by (1) purchasing one or more Articles from Company, or (2) exchanging one or more Company Articles for appropriate Serviceable Cores, when Company has agreed to provide the named Goods to that person.
J. "Claim" has the meaning described in section XII of these Terms and Conditions.
K. “Cover Goods” are any articles offered (or provided) by Company to Customer that do not fully conform to the Customer’s Purchase Order, but that are believed to reflect acceptable replacement articles. Cover Goods shall include articles with alternative part numbers, articles subject to different revision levels, articles with different software levels than specified, and articles that vary in any way from the description in the Purchase Order.
L. "Goods" means parts, materials, tools, software, drawings, data, manuals or any items that are required to be delivered pursuant to, or in connection with, a Purchase Order.
M. “Inspection Period” has the meaning described in section VIII of these Terms and Conditions.
N. “Purchase Order” means the order issued by a Customer for the supply of Goods by Company to the Customer, which may be a written or electronic document. If accepted by Company through the use of a Sales Order, then an oral or unwritten request may also be a Purchase Order. Each Purchase Order is considered to be an offer, which may be rejected or accepted by the Company.
O. A “Repair Fee” is the Amount charged to Company by an Authorized Repair Facility to overhaul an Acceptable Core, plus all related fees and costs, like shipping, insurance, etc.
P. A “Sales Order” is any Company communication that accepts the offer made by a Customer Purchase Order.
Q. A “Transaction” may be a Company Sales Transaction or a Company Exchange Transaction, depending on the context.
R. An “Unserviceable Tag” is a document indicating that the Article to which it is attached or with which it is associated is not currently in a condition permitting it to be installed (usually by using the term “unserviceable”). The document may be in the form of a tag that is hung on the Article. An unserviceable Article may be in need of an inspection to verify airworthiness, it may be in need of repair, or it may be Beyond Economic Repair; but the Unserviceable Tag typically does not predict whether the Article is capable of being returned to a known airworthy condition.