Ownership of Tangible Property Clause Samples

The Ownership of Tangible Property clause establishes which party holds legal title to physical assets involved in a transaction or agreement. It typically specifies when ownership transfers from one party to another, such as upon delivery, payment, or completion of certain conditions, and may list specific items or categories of property covered. This clause is essential for clarifying rights and responsibilities regarding physical goods, thereby preventing disputes over possession and ensuring both parties understand when and how ownership changes hands.
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Ownership of Tangible Property. ‌ Each Collaborator shall retain title to all Tangible Property to which it had title before the Effective Date of this Agreement, aside from any exceptions stated in Appendix A. All Tangible Property developed under this Agreement with all components purchased by one Collaborator shall be the property of that Collaborator. In the case of Tangible Property containing components provided by both Collaborators, the Collaborators may, by mutual agreement, decide which Collaborator shall own the Tangible Property, or separate the Tangible Property into its components. These separated components shall remain the property of the Collaborator that purchased them, aside from any exceptions stated in Appendix A
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Ownership of Tangible Property. Each Collaborator shall retain title to its Tangible Property. All Tangible Property owned and provided by one Collaborator shall remain the property of that Collaborator. Tangible Property having any component purchased or supplied by the Government shall be the property of the Government, unless such tangible Government components reasonably can be separated from non-Government components without damage to any of the individual components comprising the Tangible Property. These separated components shall remain the property of the Collaborator that purchased them. After termination of this Agreement the parties may, by mutual consent, separate the Tangible Property into its components and the separated components shall remain the property of the Collaborator that originally owned the property.
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Ownership of Tangible Property. Mines shall retain title to all equipment and other tangible personal property purchased or fabricated by Mines with funds provided by Sponsor under this Agreement.
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Ownership of Tangible Property. Condition and Sufficiency of Assets. (a) CIT has good and valid title to all the assets reflected on the Unaudited CIT Balance Sheet or thereafter acquired, other than assets disposed of in the ordinary course of business since the Unaudited CIT Balance Sheet Date and not in violation hereof, in each case free and clear of all Encumbrances other than Permitted Encumbrances. CTL has good and valid title to all the assets reflected on the Unaudited CTL Balance Sheet or thereafter acquired, other than assets disposed of in the ordinary course of business since the Unaudited CTL Balance Sheet Date and not in violation hereof, in each case free and clear of all Encumbrances other than Permitted Encumbrances. Each of PCB Business Assets Sellers has good and valid title to all the tangible property and equipment owned by it and included in the PCB Business Assets and not in violation hereof, in each case free and clear of all Encumbrances other than Permitted Encumbrances. Except as disclosed in Schedule 4.8(a), each of the assets mentioned in this Section 4.8 (a), including CIT’s assets, CTL’s assets and all material equipment and tangible property included in the PCB Business Assets or held for PCB Business, whether owned or leased, taken as a whole, is in all material respects, in adequate operating condition (ordinary normal wear and tear excepted). (b) The PCB Business Assets together with the Camtek IP Licensed to PCB Business and the Licensed Camtek TTL to be licensed collectively constitute all of the assets necessary to operate the PCB Business by CIT, CTL, PCHK2 and their Subsidiaries in substantially the same manner as operated before the date hereof, except for (i) the Excluded Assets, (ii) assets and services as set forth in Schedule 4.8(b), (iii) the Non-Assignable Contracts. 33 (c) Schedule 4.8 (c) sets forth a true, correct and complete list of all tangible properties, equipment, assets, machines and facilities owned or held by CIT and CTL for the PCB Business as of the date hereof. (d) Schedule 4.8 (d) sets forth a true, correct and complete list of all tangible properties, equipment, assets, machines and facilities owned or held by CIT for Semiconductor Business as of the date hereof (“CIT’s Semiconductor Business Assets”). (e) Schedule 4.8 (e) sets forth a true, correct and complete list of all tangible properties, equipment, assets, machines and facilities owned or held by CTL for Semiconductor Business as of the date hereof (“CTL’s Semiconduc...
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Ownership of Tangible Property. Subject to any conflicting Prime Customer regulations or Grant provisions, title to all equipment and other personal property acquired by Seller with funds provided hereunder shall vest in ▇▇▇.
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Ownership of Tangible Property. Utah shall retain ownership of the Tangible Property but not of any material derived from Transferred Tangible Property.
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Ownership of Tangible Property. Title to all equipment and other tangible personal property which is acquired by CSM with funds provided hereunder shall vest in CSM.
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Related to Ownership of Tangible Property

  • Ownership of the Leased Property Lessee acknowledges that the Leased Property is the property of Lessor and that Lessee has only the right to the possession and use of the Leased Property upon the terms and conditions of this Lease.

  • Ownership of Company Property The Company’s assets shall be deemed owned by the Company as an entity, and the Member shall have no ownership interest in such assets or any portion thereof. Title to any or all such Company assets may be held in the name of the Company, one or more nominees or in “street name”, as the Member may determine.

  • Ownership of the Property (a) The parties hereto intend that (i) for financial accounting purposes with respect to the Lessee, the Lessor Trust will be treated as the owner and lessor of an undivided interest in each Property and the Lessee will be treated as the lessee of the Property leased by it hereunder and (ii) for federal and all state and local income tax purposes, state real estate and commercial law and bankruptcy purposes, (A) the Lease will be treated as a financing arrangement, (B) the Certificate Holders and the Lenders will be deemed lenders making loans to the Lessee in an amount equal to the sum of the Certificate Holder Amounts and the outstanding principal amount of the Loans, which loans are secured by the Property and (C) the Lessee will be treated as the owner of each Property and will be entitled to all tax benefits ordinarily available to an owner of properties like each Property for such tax purposes. Nevertheless, the Lessee acknowledges and agrees that none of the Administrative Agent, the Agent Certificate Holder, the Arranger or any Participant has made any representations or warranties to the Lessee concerning the tax, accounting or legal characteristics of the Operative Documents and that the Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Documents as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein. (b) It is the intent of the parties hereto that this Lease grants a security interest and mortgage, as the case may be, on each Property to the Lessor Trust for the benefit of the Agent Certificate Holder, and the other Participants to secure the performance of the Lessee under and payment of all amounts under the Lease and the other Operative Documents all as more specifically set forth in Section 5 of each Lease Supplement.

  • Ownership of Improvements All modifications, alterations and improvements made or added to the Leased Premises by Tenant (other than Tenant’s inventory, equipment, movable furniture, wall decorations and trade fixtures) shall be deemed real property and a part of the Leased Premises, but shall remain the property of Tenant during the Lease, and Tenant hereby covenants and agrees not to grant a security interest in any such items to any party other than Landlord. Any such modifications, alterations or improvements, once completed, shall not be altered or removed from the Leased Premises during the Lease Term without Landlord’s written approval first obtained in accordance with the provisions of Paragraph 6.1 above. At the expiration or sooner termination of this Lease, all such modifications, alterations and improvements other than Tenant’s inventory, equipment, movable furniture, wall decorations and trade fixtures, shall automatically become the property of Landlord and shall be surrendered to Landlord as part of the Leased Premises as required pursuant to Article 2, unless Landlord shall require Tenant to remove any of such modifications, alterations or improvements in accordance with the provisions of Article 2, in which case Tenant shall so remove same. Landlord shall have no obligations to reimburse Tenant for all or any portion of the cost or value of any such modifications, alterations or improvements so surrendered to Landlord. All modifications, alterations or improvements which are installed or constructed on or attached to the Leased Premises by Landlord and/or at Landlord’s expense shall be deemed real property and a part of the Leased Premises and shall be property of Landlord. All lighting, plumbing, electrical, heating, ventilating and air conditioning fixtures, partitioning, window coverings, wall coverings and floor coverings installed by Tenant shall be deemed improvements to the Leased Premises and not trade fixtures of Tenant.

  • Ownership of Equipment Any equipment purchased by or furnished to the Grantee by the State under this grant agreement is provided on a loan basis only and remains the property of the State.