OWNERSHIP & RISK Clause Samples
POPULAR SAMPLE Copied 1 times
OWNERSHIP & RISK. 6.1 The risk of damage to or loss of Goods supplied by Gem will pass to the Customer when the goods are loaded on to the delivery vehicles at Gem premises. However the property in the Goods shall not pass from Gem to the Customer until:
i) The Customer shall have paid the price of the Goods including VAT in full, and
ii) No other sums whatever shall remain owing to Gem.
6.2 Until property in the Goods passes to the Customer, the Customer shall hold the Goods and each of them on a fiduciary basis as bailee for Gem. The Customer shall store the Goods (at no cost to Gem) separately from all other Goods in its possession and marked in such a way that they are clearly identified as Gem property. Notwithstanding that the Goods (or any part of them) remain the property of Gem the Customer may sell or use the Goods in the ordinary course of the Customer’s business at full market value for the account of Gem. Any such sale or dealing shall be a sale or use of Gem property by the Customer on the Customer’s own behalf and the Customer shall deal as principal when making such sales or dealings. Until property of the Goods passes from Gem the entire proceeds of sale or otherwise of the Goods shall be held in trust for Gem and shall not be mixed with other money or paid into any overdrawn bank account and shall be at all material times identified as Gem money. Gem shall be entitled to recover the price of the Goods (including VAT and all other monies due to Gem from the Customer) notwithstanding that property in any of the Goods has not passed from Gem.
6.3 Until such time as the property in the Goods passes from Gem, the Customer shall upon request deliver up such of the Goods as have not ceased to be in existence or resold to Gem. If the Customer fails to return Goods, Gem may apply to enter any premises owned, occupied or controlled by the Customer where the Goods are situated and repossess the goods.
6.4 The Customer shall not pledge or in any way charge by way of security for any indebtedness any of the Goods that are the property of Gem. Without prejudice to the other rights of Gem, if the Customer does so all sums whatever owing by the Customer shall forthwith become due and payable.
6.5 The Customer shall insure and keep insured the Goods to the full value against “all risks” to the reasonable satisfaction of Gem until the date that property in the Goods passes from Gem and shall, whenever requested by Gem, produce a copy of the policy of insurance and evidence ...
OWNERSHIP & RISK. 5.1 Subject to Clause 5.2 below, the Product shall at all times, remain the sole and exclusive property of the Company and the Customer shall have no right or interest in the Product except for the quiet possession and the right to use the Product upon the terms and conditions contained in this Agreement. Notwithstanding the foregoing, risk in the Product shall pass to the Customer on delivery of the Product to the Site.
5.2 Provided Always that there is no outstanding payment due to the Company by the Customer, the ownership of the Product shall automatically be transferred to the Customer upon expiry of the Rental Period.
OWNERSHIP & RISK. 8.1 Ownership as well as risk in the Citrus products shall pass to YYYwhen they are delivered in port to YYYby the Pack House.
8.2 The Citrus products shall be sold and delivered by YYYto third parties as purchasers thereof. YYYwill not be liable for any loss or damage suffered by XXX unless it is proven that the loss was caused by the deliberate or grossly negligent conduct of YYYor its employees which resulted in the Citrus products not being sold to third parties. Notwithstanding anything to the contrary contained herein, it is agreed that YYYshall not be liable for consequential damages suffered by XXX.
OWNERSHIP & RISK. 6.1 Dillon Bass asset ownership: Title to any assets (including any documents, raw materials, goods to be processed and tools) provided to the Supplier by (or on behalf of) Dillon Bass in connection with any Contract shall remain with Dillon Bass.
OWNERSHIP & RISK. 8.1 Risk of loss of or damage to the Goods resides with NIOA until the Goods have been made available to the Customer in accordance with the Quote and clause 5 [Delivery].
8.2 Ownership and title of Goods and/or Services will pass to the Customer upon full payment of the relevant Valid Invoice in accordance with clause 12 [Price and Payments].
8.3 NIOA reserves its rights in relation to the Goods and/or Services until full payment has been made of the relevant Valid Invoice in accordance with clause 12 [Price and Payments]. These rights include:
(a) ownership of the Goods;
(b) to enter the Customer’s premises (or the premises of any associated company or agent where the Goods are located) without liability for trespass or any resulting damage and retake possession of the Goods; and
(c) subject to, and in accordance with, the Personal Property Securities Act 1999 (‘PPSA’), to keep or resell any Goods repossessed pursuant to paragraph (b) above.
8.4 The Customer consents to NIOA, at NIOA’s sole discretion, registering its security interest on the Personal Property Securities Register, and agrees to do all things necessary, in a timely manner, to facilitate such registration. The Customer waives its rights to receive any notice under the PPSA (including notice of verification statement) unless the notice is required by that Act and cannot be excluded.
8.5 Until title in the Goods has passed to the Customer, the Customer agrees not to in any way assign, charge, lease or otherwise deal with the Goods in such a manner as to create a security interest over the Goods in favour of the Customer or any third party.
OWNERSHIP & RISK. 10.1 Notwithstanding anything to the contrary express or implied in this Agreement, the parties agree that the Supplier retains full title to the Goods and title will not at any time pass to the Client until the Purchase Price for the Goods and all other amounts owing in respect of the Goods are paid to the Supplier.
10.2 The risk of loss of, or damage to the Goods passes to the Client on the delivery of the Goods to the Client’s nominated Delivery Address.
OWNERSHIP & RISK. Ownership risk in the Bike is formally transferred to you upon your election to purchase the Bike and making the payment contemplated above.
OWNERSHIP & RISK. 2.4.1 Each of the Goods shall become the property of the Purchaser, free of all liens and encumbrances, on the earlier of the following:
2.4.1.1 When the Supplier receives the payment for manufacture and storage of the Goods contemplated in clause 4.2.1.1
2.4.1.2 when the Supplier receives payment for the Delivery of the Goods in accordance with clause 4.2.1.2; or
2.4.1.3 Delivery of such Goods.
2.4.2 Without derogating from clause 2.4.1 the Purchaser shall, before making payment of any amount to the Supplier for any Goods, be entitled to require the Supplier to provide a certificate signed by the Supplier (and the applicable subcontractor, if any) confirming that ownership in such Goods has passed to the Supplier and/or will pass to the Purchaser, free of all liens and/or other encumbrances, against payment. The Purchaser shall be entitled to withhold payment of any such amount pending the receipt of such certificate.
2.4.3 The risk in the Goods shall (without relieving the Supplier from any guarantee or warranty undertaking or other responsibility or obligation in terms of this Supply Agreement) pass to the Purchaser on Delivery to the Delivery Place.
OWNERSHIP & RISK. 4.1 All goods shall be at the Purchaser’s sole risk as soon as the Purchaser or the delivery agent has taken delivery of the goods at the Seller’s premises.
4.2 The Seller shall not be responsible for any damage whatsoever caused to any goods as a result of inadequate and/or improper loading or offloading, transportation, installation, tampering with the goods or negligence by the Purchaser or any delivery agent (or any person acting on their behalf or instruction).
4.3 Any goods returned to the Seller for any reason shall be at the sole risk of the Purchaser at all times and the Seller shall be at liberty to store the same otherwise than on its premises or deliver the same to such subcontractors as may need to carry out any part of work required in respect of the goods.
4.4 Notwithstanding anything to the contrary contained herein, ownership in all goods sold to the Purchaser by the Seller, as contemplated herein, shall remain solely and exclusively vested in the Seller until payment for such goods has been made in full.
4.5 If the Purchaser fails to make full payment of all amounts due to the Seller in terms hereof by the due date for such payments, the Seller shall be entitled, without prejudice to any rights which it may have in law, to enter the premises of the Purchaser or to trace the goods to such premises at which they may be located and to take possession of the goods
OWNERSHIP & RISK. 5.1 Unencumbered ownership of goods shall pass to the Buyer upon delivery thereof to the Buyer, provided that if all or a part of the price thereof is paid prior to such delivery, then ownership shall pass when such payment is made irrespective of the location of such goods.
5.2 Subject to clause 11.1 and irrespective of the basis on which the price is calculated, risk in respect of goods shall remain with the Supplier until full and complete delivery thereof to the Buyer is made.