Custody Transfer and Title Clause Samples

The 'Custody Transfer and Title' clause defines the point at which ownership and responsibility for goods or property shift from one party to another, typically from seller to buyer. In practice, this clause specifies the exact moment—such as upon delivery at a specified location or after completion of certain conditions—when the buyer assumes legal title and risk of loss or damage. By clearly establishing when custody and title pass, the clause helps prevent disputes over liability and ensures both parties understand their obligations and rights during the transaction process.
POPULAR SAMPLE Copied 7 times
Custody Transfer and Title. TLO shall be deemed to have custody of the Product being transported on the Pipelines to the Storage Facility at the time it enters the Pipeline; for other Product, TLO shall be deemed to have custody where it enters the receiving line at the Storage Facility. TRMC shall be deemed to receive custody of the Product at the time it enters the Refinery from the Pipelines. Upon re-delivery of any Product to TRMC’s account, TRMC shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product after transfer of custody. Title and risk of loss to all TRMC’s Products received in the Storage Facility, the Tanks, and the Pipelines shall remain with TRMC at all times. Both Parties acknowledge that this Agreement represents a bailment of Products by TRMC to TLO and not a consignment of Products, it being understood that TLO has no authority hereunder to sell or seek purchasers for the Products of TRMC. TRMC hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this Agreement. TRMC acknowledges that, notwithstanding anything to the contrary contained in this Agreement, TRMC acquires no right, title or interest in or to any of the Storage Facility (including the Tanks) and the Pipelines, except the right to receive, deliver, load, unload and store the Products in the Tanks and through the Pipelines as set forth herein. TLO shall retain control of the Storage Facility, including the Tanks, and the Pipelines at all times.
View SourceView Similar (19)
Custody Transfer and Title. Operator shall be deemed to have custody of the Product after it enters Operator’s fixed receiving flange and until the Product leaves the fixed delivery flange on the receiving manifold of the Tank. Upon re-delivery of any Product to Customer’s account, Customer shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product after transfer of custody. Title to all Customer’s or Customer Designee’s Products received in the Tank shall remain with Customer or Customer Designee at all times. Both Parties acknowledge that this Agreement and any Storage Facility Service Order represent a bailment of Products by Customer or Customer Designee to Operator and not a consignment of Products, it being understood that Operator has no authority hereunder to sell or seek purchasers for the Products of Customer or Customer Designee. Customer or Customer Designee hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this Agreement or any applicable Storage Facility Service Order. Customer acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Storage Facility Service Order, Customer or Customer Designee acquires no right, title or interest in or to any of the Tank or the associated Pipelines, except the right to receive, deliver and store the Products in the Tank and the associated Pipelines. Operator shall retain control of the Tank and the associated Pipelines.
View Source
Custody Transfer and Title. While MPL shall have physical custody of MPC’s Crude Petroleum and Product while in storage at the Tank Farm, at no time shall MPL acquire or be deemed to acquire title to Crude Petroleum and Product. MPC hereby warrants that it shall have good title to and the right to deliver, store and receive Crude Petroleum and Product pursuant to the terms of this Agreement. MPC acknowledges that, notwithstanding anything to the contrary contained in this Agreement, MPC acquires no right, title or interest in or to any of the Storage Tanks, except the right to store and receive Crude Petroleum and Product to, at and from the Storage Tanks as set forth herein. MPL shall retain ownership and operational control of the Tank Farm, all Storage Tanks, associated facilities and equipment used in connection with the provision of the storage services at all times.
View SourceView Similar (6)
Custody Transfer and Title. (a) Pipeline.
View SourceView Similar (2)
Custody Transfer and Title. (a) Custody. Provider shall be deemed to have custody of any Product being transported through the LAR Interconnecting Pipelines to the nominated destination at the time as the applicable Product enters the inlet flange of the applicable LAR Interconnecting Pipeline and until the time as the applicable Product enters the outlet flange of the applicable LAR Interconnecting Pipeline. Upon redelivery of any Products to Customer’s account, Customer shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Products after transfer of custody.
View Source
Custody Transfer and Title. While MTS shall have physical custody of MPC’s Product while in storage at the Cavern, at no time shall MTS acquire or be deemed to acquire title to Product (other than any Cavern Bottoms purchased by MTS pursuant to Section 14.2). MPC hereby warrants that it shall have good title to and the right to deliver, store and receive Product pursuant to the terms of this Agreement. MPC acknowledges that, notwithstanding anything to the contrary contained in this Agreement, MPC acquires no right, title or interest in or to the Cavern, except the right to deliver, receive and store Product in the Cavern as set forth herein. MTS shall retain ownership and operational control of the Cavern at all times.
View SourceView Similar (2)
Custody Transfer and Title. Operator shall be deemed to have custody of the Product after it enters Operator’s fixed receiving flange and until the Product leaves the fixed delivery flange on the receiving manifold at the Storage Facility. Upon re-delivery of any Product to PBF’s account, PBF shall become solely responsible for any loss, damage or injury to Person or property or the environment, arising out of transportation, possession or use of such Product after transfer of custody. Title to all PBF’s or PBF Designee’s Products received in the Storage Facility shall remain with PBF or PBF Designee at all times. Both Parties acknowledge that this Agreement and any Storage Facility Service Order represent a bailment of Products by PBF or PBF Designee to Operator and not a consignment of Products, it being understood that Operator has no authority hereunder to sell or seek purchasers for the Products of PBF or PBF Designee. PBF or PBF Designee hereby warrants that it shall have good title to and the right to deliver, store and receive Products pursuant to the terms of this Agreement or any applicable Storage Facility Service Order. PBF acknowledges that, notwithstanding anything to the contrary contained in this Agreement or in any Storage Facility Service Order, PBF or PBF Designee acquires no right, title or interest in or to any of the Storage Facility, except the right to receive, deliver and store the Products in the Tanks. Operator shall retain control of the Storage Facility.
View Source
Custody Transfer and Title. (a) Custody of Pipeline Receipts and Deliveries. For volumes received into the respective Terminal by pipeline, custody of the volumes shall pass to Provider at the flange where it enters such respective Terminal’s receiving line. For volumes delivered by the respective Terminal into a pipeline, custody of the volumes shall pass to Customer at the flange where it exits such respective Terminal’s delivery line.
View Source
Custody Transfer and Title 
View SourceView Similar (33)

Related to Custody Transfer and Title

  • Transfer and Reassignment An academic staff member may, by agreement between the member and the University, be assigned to a new academic unit (Article 13.

  • DELIVERY AND TITLE A. The place of delivery for all Products sold pursuant to this Agreement shall be FOB Plant. Buyer and Buyer’s agents shall be given access to Seller’s Plant in a manner and at all times reasonably necessary and convenient for Buyer to take delivery as provided herein. Buyer shall schedule the loading and shipping of all outbound Products purchased hereunder which is shipped by rail. All labor and equipment necessary to load rail cars shall be supplied by Seller without charge to Buyer. Seller agrees to handle all Products in a good and workmanlike manner in accordance with Buyer’s reasonable requirements and in accordance with normal industry practice. Seller shall maintain the rail loading facilities in safe operating condition in accordance with normal industry standards. B. Seller shall be responsible at all times for the quantity, quality and condition of any Products in storage at the Plant. Seller shall not be responsible for the quantity, quality and condition of any of Products stored by Buyer at locations other than the Plant. C. Buyer shall give to Seller a schedule of quantities of the Products to be removed by rail with sufficient advance notice reasonably to allow Seller to provide the required services. Seller shall provide the labor, equipment and facilities necessary to meet Buyer’s loading schedule and, except for any consequential or indirect damages, shall be responsible for Buyer’s actual costs or damages resulting from Seller’s failure to do so. Buyer shall order and supply rail cars as scheduled for rail shipments. All freight charges shall be the responsibility of Buyer and shall be billed directly to Buyer. D. Buyer shall provide loading orders as necessary to permit Seller to maintain Seller’s usual production schedule, provided, however, that Buyer shall not be responsible for failure to schedule removal of the DDGS unless Seller shall have provided to Buyer production schedules as follows: Five (5) days prior to the beginning of each calendar month during the term hereof, Seller shall provide to Buyer a tentative schedule for production in the next calendar month which is to be shipped by railcar. Seller shall inform Buyer daily of inventory and production status. For purposes of this paragraph, notification will be sufficient if made by e-mail or facsimile as follows: If to Buyer, to the attention of ▇▇▇▇▇ ▇▇▇▇▇▇▇, Facsimile number ▇▇▇-▇▇▇-▇▇▇▇ or email to ▇▇▇▇▇▇▇▇@▇▇▇-▇▇▇▇▇.▇▇▇, and If to Seller, to the attention of ▇▇▇▇▇ ▇▇▇▇▇▇, Facsimile number ▇▇▇-▇▇▇-▇▇▇▇ or email to ▇▇▇▇▇.▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, Or to such other representatives of Buyer and Seller as they may designate to the other in writing. E. Title, risk of loss and full shipping responsibility shall pass to Buyer upon loading the DDGS into rail cars and delivering to Buyer of the ▇▇▇▇ of lading for each such shipment.

  • Transfer and Encumbrance The L-C shall also provide that Landlord may, at any time and without notice to Tenant and without first obtaining Tenant’s consent thereto, transfer (one or more times) all or any portion of its interest in and to the L-C to another party, person or entity, regardless of whether or not such transfer is from or as a part of the assignment by Landlord of its rights and interests in and to this Lease. In the event of a transfer of Landlord’s interest in under this Lease, Landlord shall transfer the L-C, in whole or in part, to the transferee and thereupon Landlord shall, without any further agreement between the parties, be released by Tenant from all liability therefor, and it is agreed that the provisions hereof shall apply to every transfer or assignment of the whole of said L-C to a new landlord. In connection with any such transfer of the L-C by Landlord, Tenant shall, at Tenant’s sole cost and expense, execute and submit to the Bank such applications, documents and instruments as may be necessary to effectuate such transfer and, Tenant shall be responsible for paying the Bank’s transfer and processing fees in connection therewith; provided that, Landlord shall have the right (in its sole discretion), but not the obligation, to pay such fees on behalf of Tenant, in which case Tenant shall reimburse Landlord within ten (10) days after Tenant’s receipt of an invoice from Landlord therefor.

  • Transfer and Ownership of Warrants (a) The Warrants may only be transferred on the register kept by the Warrant Agent at the Warrant Agency by the holder or its legal representatives or its attorney duly appointed by an instrument in writing in form and execution satisfactory to the Warrant Agent only upon: (a) in the case of a Warrant Certificate, surrendering to the Warrant Agent at the Warrant Agency the Warrant Certificate representing the Warrants to be transferred together with a duly executed transfer form as set forth in Schedule “A” (together with a declaration for removal of U.S. Legend or opinion of counsel, if required by Section 2.8(a)); (b) in the case of Book Entry Only Warrants, in accordance with procedures prescribed by the Depository under the book entry registration system; (c) in the case of DRS Advices, in accordance with the procedures prescribed by the Warrant Agent; and (d) upon compliance with: (i) the conditions herein; (ii) such reasonable requirements as the Warrant Agent may prescribe; and (iii) all applicable securities legislation and requirements of regulatory authorities; and, in the case of (a) or (c) above, such transfer shall be duly noted in such register by the Warrant Agent. Upon compliance with such requirements, the Warrant Agent shall issue to the transferee a Warrant Certificate or DRS Advice, as applicable. Transfers within the systems of the Depository are not the responsibility of the Warrant Agent and will not be noted on the register maintained by the Warrant Agent. (b) If a Warrant Certificate tendered for transfer bears the U.S. Legend set forth in Section 2.8(a), the Warrant Agent shall not register such transfer unless the transferor has provided the Warrant Agent with the Warrant Certificate and: (A) the transfer is made to the Corporation; (B) the transfer is made outside of the United States in a transaction meeting the requirements of Rule 904 of Regulation S, and is in compliance with applicable local laws and regulations, and the transferor delivers to the Warrant Agent and the Corporation a declaration substantially in the form set forth in Schedule “C” to this Warrant Indenture, or in such other form as the Corporation may from time to time prescribe, together with such other evidence of the availability of an exemption or exclusion from registration under the U.S. Securities Act (which may, without limitation, include an opinion of counsel, of recognized standing reasonably satisfactory to the Corporation) as the Corporation may reasonably require; (C) the transfer is made pursuant to the exemption from the registration requirements of the U.S. Securities Act provided by (i) Rule 144A thereunder, if available, or (ii) Rule 144 thereunder, if available, and in each case in accordance with any applicable state securities or “blue sky” laws; (D) the transfer is in compliance with another exemption from registration under the U.S. Securities Act and applicable state securities laws; or (E) the transfer is made pursuant to an effective registration statement under the U.S. Securities Act and any applicable state securities laws; provided that, it has prior to any transfer pursuant to Sections 2.12(b)(C)(ii) or 2.12(b)(D) furnished to the Warrant Agent and the Corporation an opinion of counsel or other evidence in form and substance reasonably satisfactory to the Corporation to such effect. In relation to a transfer under (C)(ii) or (D) above, unless the Corporation and the Warrant Agent receive an opinion of counsel, of recognized standing, or other evidence reasonably satisfactory to the Corporation in form and substance, to the effect that the U.S. Legend set forth in subsection 2.8(a) is no longer required on the Warrant Certificates representing the transferred Warrants, the Warrant Certificates received by the transferee will continue to bear the U.S. Legend set forth in Section 2.8(a). (c) Subject to the provisions of this Indenture, Applicable Legislation and applicable law, the Warrantholder shall be entitled to the rights and privileges attaching to the Warrants, and the issue of Common Shares by the Corporation upon the exercise of Warrants in accordance with the terms and conditions herein contained shall discharge all responsibilities of the Corporation and the Warrant Agent with respect to such Warrants, and neither the Corporation nor the Warrant Agent shall be bound to inquire into the title of any such holder.

  • Position and Title 1You are employed on a full time basis in the position described at Item 3 of the Schedule.