HANDOVER OF THE OBJECT OF PURCHASE Clause Samples

The "Handover of the Object of Purchase" clause defines the process and conditions under which the purchased item is transferred from the seller to the buyer. Typically, this clause specifies the time, place, and manner of delivery, and may outline requirements such as inspection, documentation, or the condition in which the item must be delivered. Its core function is to ensure both parties clearly understand when and how ownership and possession of the item change hands, thereby reducing the risk of disputes regarding delivery obligations or the state of the object at the time of transfer.
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HANDOVER OF THE OBJECT OF PURCHASE. 6.1 Handover and takeover of the Object of Purchase shall be realized on the basis of hand-over protocol (“Hand – over protocol”) which shall be signed during Object of Purchase setup and installation and which shall contain following information: - identification of the Seller, the Buyer and all subcontractors, if there are any, - description of the Object of Purchase, - the list of defects and deficiencies of the Object of Purchase, if there are any, and the deadlines for their removal, - the signature and the date of the hand-over. 6.2 Instructions and manuals related to all items of the Object of Purchase shall be attached to the Hand-over protocol at the latest. 6.3 If the Seller fails to duly carry out all Related Activities or if the Object of Purchase does not fully meet requirements of this Contract, the Buyer is entitled to refuse the takeover of the Object of Purchase. In such a case, the Seller shall remedy the deficiencies within thirty (30) calendar days, unless Parties agree otherwise. The Buyer is entitled (but not obliged) take over the Object of Purchase despite the above mentioned deficiencies, in particular if such deficiencies do not prevent the Buyer in the proper operation of the Object of Purchase. In such a case, the Seller and the Buyer shall list the deficiencies in the Hand-over protocol, including the manner and the date of their removal (remedy). If the Parties do not reach agreement in the Hand- over protocol regarding the date of the removal, the Seller shall remove the deficiencies within fourteen (14) calendar days. 6.4 Parties hereby exclude application of section 2126 of the Civil Code.
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HANDOVER OF THE OBJECT OF PURCHASE. 8.1 Related Activities must be performed in foe presence of representative of both Parties prior to the handover and takeover of the Object of Purchase. 8.2 Handover and takeover of the Object of Purchase shall be realized on the basis of a handover protocol, which shall contain following information ("Handover Protocol”): a) identification of the Seller, Buyer and subcontractors, if there are any, b) declaration of the Seller and Buyer that all Related Activities were carried out, c) description of foe Object of Purchase, and d) date of the signature. 8.3 If the ▇▇▇▇▇▇ does not hand over to the Buyer all above mentioned documents or if the Seller fails to duly carry out all Related Activities or if the Object of Purchase does not meet requirements of this Contract, the Buyer is entitled to refuse the takeover of the Object of Purchase. In such a case the Seller shall remedy foe deficiencies within ten (10) working days, unless Parties agree otherwise. The Buyer is entitled (but not obliged) to take over foe Object of Purchase despite the above mentioned deficiencies, in particular if such deficiencies do not prevent the Buyer in the proper operation of foe Object of Purchase. In such a case foe Seller and the Buyer shall list the deficiencies in the Handover Protocol, including foe manner and the date of their removal (remedy). If the Parties do not reach agreement in foe Handover Protocol regarding foe date of the removal or remedy, the ▇▇▇▇▇▇ shall remove the deficiencies within ten (10) working days. 8.4 In case that foe Seller notifies foe Buyer that foe Object of Purchase is eligible for handover and takeover and during the course of the handover procedure it will be ascertained that the conditions under this Contract for foe signature of the Handover Protocol are not fulfilled and based on this reason foe Buyer will refuse to sign foe Handover Protocol, then the Seller shall reimburse the Buyer for all costs that were incurred by the Buyer due to unsuccessful handover.
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HANDOVER OF THE OBJECT OF PURCHASE. 7.1 Handover and takeover of the Object of Purchase shall be realized on the basis of an acceptance protocol (“Acceptance Protocol”). 7.2 If the Object of Purchase does not meet requirements of this Contract, the Buyer is entitled to refuse the takeover of the Object of Purchase. In such a case the Supplier shall remedy the deficiencies within ten (10) working days, unless Parties agree otherwise – The Buyer will accept longer period than stated in a case the Supplier will prove, he is unable to remedy the deficiencies in 10 working days limit. The Buyer is entitled (but not obliged) to take over the Object of Purchase despite the above mentioned deficiencies, in particular if such deficiencies do not prevent the Buyer from the proper operation of the Object of Purchase. In such a case the Buyer shall list the deficiencies in the Acceptance Protocol, including the manner and the date of their removal (remedy). If the Parties do not reach agreement in the Acceptance Protocol regarding the date of the removal, the Supplier shall remove the deficiencies within ten (10) working days. 7.3 Parties exclude the application of the Section 2126 of the Civil Code.
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HANDOVER OF THE OBJECT OF PURCHASE. 7.1 Handover and takeover of the Object of Purchase shall be realized on the basis of an acceptance protocol. 7.2 If the Seller fails to duly carry out all Related Activities or if the Object of Purchase does not meet requirements of this Contract, the Buyer is entitled to refuse the takeover of the Object of Purchase. In such a case the Seller shall remedy the deficiencies within ten
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HANDOVER OF THE OBJECT OF PURCHASE. 6.1 Handover and takeover of the Object of Purchase shall be realized on the basis of a handover protocol (delivery note), which shall be signed during Object of Purchase setup and installation and which shall contain following information: - identification of the Seller, the Buyer and all subcontractors, if there are any, - description of the Object of Purchase, - the list of defects and deficiencies of the Object of Purchase, if there are any, and the deadlines for their removal, - the signature and the date of the handover. 6.2 Instructions and manuals shall be attached to the Handover protocol. 6.3 If the Seller fails to duly carry out all Related Activities or if the Object of Purchase does not meet requirements of this Contract, the Buyer is entitled to refuse the takeover of the Object of Purchase. In such a case the Seller shall remedy the deficiencies within fourteen (14) calendar days, unless Parties agree otherwise. The Buyer is entitled (but not obliged) take over the Object of Purchase despite the above mentioned deficiencies, in particular if such deficiencies do not prevent the Buyer in the proper operation of the Object of Purchase. In such a case the Seller and the Buyer shall list the deficiencies in the handover protocol, including the manner and the date of their removal (remedy). If the Parties do not reach agreement in the handover protocol regarding the date of the removal, the Seller shall remove the deficiencies within fourteen (14) calendar days. 6.4 Parties hereby exclude application of section 2126 of the Civil Code.
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Related to HANDOVER OF THE OBJECT OF PURCHASE

  • SALE AND PURCHASE OF THE SALE SHARES 2.1 Subject to the terms and conditions contained in this Agreement, the Vendor shall as the legal and beneficial owner sell and the Purchaser shall, in reliance on the Warranties, purchase the Sale Shares free from all Encumbrances and together with all rights attaching thereto as at the Completion Date.

  • Sale and Purchase of the Shares On the basis of the representations, warranties and agreements contained in, and subject to the terms and conditions of, this Agreement: (a) The Company agrees to sell to each of the Underwriters, and each of the Underwriters agrees, severally and not jointly, to purchase from the Company, at a price of $_____ per share (the "Initial Price"), the number of Firm Shares set forth opposite the name of such Underwriter under the column "Number of Firm Shares to be Purchased from the Company" on Schedule I to this Agreement, subject to adjustment in accordance with Section 10 hereof. (b) The Company grants to the several Underwriters an option to purchase, severally and not jointly, all or any part of the Option Shares at the Initial Price. The number of Option Shares to be purchased by each Underwriter shall be the same percentage (adjusted by the Representatives to eliminate fractions) of the total number of Option Shares to be purchased by the Underwriters as such Underwriter is purchasing of the Firm Shares. Such option may be exercised only to cover over-allotments in the sales of the Firm Shares by the Underwriters and may be exercised in whole or in part at any time on or before 12:00 noon, New York City time, on the business day before the Firm Shares Closing Date (as defined below), and from time to time thereafter within 30 days after the date of this Agreement, in each case upon written, facsimile or telegraphic notice, or verbal or telephonic notice confirmed by written, facsimile or telegraphic notice, by the Representatives to the Company no later than 12:00 noon, New York City time, on the business day before the Firm Shares Closing Date or at least two business days before the Option Shares Closing Date (as defined below), as the case may be, setting forth the number of Option Shares to be purchased and the time and date (if other than the Firm Shares Closing Date) of such purchase.