Common use of Acceptance Testing Procedure Clause in Contracts

Acceptance Testing Procedure. Instruments manufactured by KMC shall be subjected to the ATP prior to shipment, and shall be deemed accepted by LipoScience upon meeting the requirements of the ATP, as confirmed by KMC’s written certification provided to LipoScience. Title to the Instruments, and risk of loss thereof, shall remain with KMC for so long as KMC is in possession of the Instruments, and shall transfer to LipoScience upon shipment to (i) LipoScience, (ii) LipoScience’s designated customer, or (iii) a storage facility designated by LipoScience.