Passing of Property Clause Samples

Passing of Property. 20.1. Without prejudice to any of SUPP’s other rights notwithstanding delivery of any goods the property/title in the goods shall remain in SUPP until the Customer has paid in cash in full therefor. If the price is payable by instalments or part only of the price has been paid to SUPP, SUPP may appropriate the payment to any part of those goods which have been so delivered and title to that part shall thereupon pass. 20.2. If such payment is overdue in whole or in part SUPP may (without prejudice to any of its other rights) recover and dispose of the goods or any of them and may enter upon the Customer’s or third parties premises for the recovery of such goods. 20.3. If any of the goods are incorporated in other goods or materials before such payment the property in the goods delivered by SUPP shall nevertheless be and remain with SUPP until such payment has been made. 20.4. The Customer agrees to deal with all goods supplied by SUPP in such a way that they are readily identifiable as the property of SUPP and all due diligence shall be taken by the Customer to protect the property against damage or loss. 20.5. Where any goods delivered under this Contract have been sold by the Customer then the Customer shall also sell as agent for SUPP and shall be trustee for SUPP of the proceeds of sale thereof until such time as SUPP shall have been paid in full for such goods.

Passing of Property. 8.1 No property in or title to the goods shall pass to the Buyer until their full price has been duty paid in cash to the Seller. Failure to pay the purchase price as aforesaid when due shall, without prejudice to any other remedies the Seller may have, entitle the Seller to repossess the goods or so much thereof as the Seller may determine from any premises where they may be stored or to which they may be attached. For the purpose of repossessing the goods or any part thereof the Buyer shall permit the Seller, its employees or agents upon such premises and the Buyer shall pay to the Seller the cost of removal and transport of the goods or any part thereof. Nothing in this Condition shall confer any right on the Buyer to return any of the goods or to refuse or delay payment. 8.2 The Buyer shall not sell, purport to sell or part with possession of the goods until the property therein shall have passed to the Buyer provided that with the prior written consent of the Seller the Buyer may contract to re-sell the goods. In any such re-sale the Buyer shall as regards the sub-purchaser act as principal but shall hold the proceeds of such re- sale in trust for the Seller in a separate bank account until the Seller has received the full purchase price due to the Seller.

Passing of Property. 5.1 The ownership of the Goods shall not pass to the Buyer until Heidelberg has received in full (in cash or cleared funds) all sums due to it in respect of: (i) the Goods; and (ii) all other sums which are or will become due from the Buyer on any account (including where applicable interest on any sums not paid on the due date) and until such payments are made the Goods are held by the Buyer as bailee for Heidelberg. 5.2 lf the Buyer shall sell or purport to sell the Goods so as to purport to pass a valid title to a third party the proceeds of such sale shall be held by the Buyer on trust for Heidelberg and if such proceeds are not paid to Heidelberg they shall be placed in a separate designated bank account. 5.3 The Goods shall be stored by the Buyer in a safe and proper manner and in such a way so as to distinguish them from goods not owned by Heidelberg and shall be separately identified in such manner as approved or directed by Heidelberg. 5.4 Until payment of the whole of the price of the goods has been made by the Buyer to Heidelberg (including interest where applicable) Heidelberg shall have the right to demand the immediate return of the Goods and the Buyer grants Heidelberg, its agents and employees an irrevocable licence at any time to enter any premises where the Goods are or may be stored in order to inspect them, or, where the Buyer’s right to possession has terminated, to recover them. 5.5 Heidelberg expressly reserves the right to trace any Goods the price of which remains unpaid or any proceeds of the purported sale of such Goods into whomsoever’s hands the same may pass. 5.6 Subject to condition 5.1 the Buyer’s right to possession of the Goods shall terminate immediately if: 5.6.1 the Buyer has a bankruptcy order made against him or makes an arrangement or composition with his creditors, or otherwise takes the benefit of any statutory provision for the time being in force for the relief of insolvent debtors, or (being a body corporate) convenes a meeting of creditors (whether formal or informal), or enters into liquidation (whether voluntary or compulsory) except a solvent voluntary liquidation for the purposes only of reconstruction or amalgamation, or has a receiver and/or manager, administrator or administrative receiver appointed of its undertaking or any part thereof or a resolution is passed or a petition presented to any court for the winding up of the Buyer or for the granting of an administrative order in respect of the Buyer, or...

Passing of Property. Property in the goods shall pass to the client upon receipt by Ampac Dental Pty Ltd of full payment of the goods.

Passing of Property. The Property in the goods shall notwithstanding delivery to Purchaser remain in Seller until Purchaser has paid the full price as well as all other sums whatsoever due to Seller. If at any time payment of the price of any other sums due to Seller is overdue, Seller may by its servants or agents enter upon Purchaser's premises and recover and dispose of the goods and Purchaser shall make no claim against Seller in respect of such entry or disposal. Purchaser may in the ordinary course of business mix the goods with other objects or convert the goods into other objects whether by the process of manufacture or otherwise and whether or not such mixture or conversion renders the goods unidentifiable. In that event, the property in the mixture or the converted goods as the case may be shall forthwith pass to Seller and remain with Seller from the moment of mixture or conversion until Purchaser has paid all sums whatsoever due to Seller, and the provisions of the above sub-clauses shall apply to any such mixture or converted goods as if it or they were the goods themselves.

Passing of Property. 4.1 Until You make full payment for all goods and services and for all other amounts owing to Us: (a) title in all goods remains vested in Us; (b) You must hold the goods as fiduciary bailee and agent for Us; (c) You must hold the proceeds of sale of the goods on trust for Us in a separate account with a bank to whom You have not given security however failure to do so will not affect Your obligation as trustee; (d) in addition to our rights under the PPSA, We may enter any premises and remove the goods and for this purpose You irrevocably licence Us to enter such premises and also indemnify Us from and against all costs, claims, demands or actions by any party arising from such action; and (e) We retain a lien over any Vehicle which entitles Us to sell any Vehicle in Our possession, subject to providing 14 days written notice to You, by treaty or public auction as We deem suitable, and allocate the proceeds to satisfy any amounts owing. 4.2 You acknowledge that We have a statutory right to sell or dispose of uncollected goods pursuant to and within the meaning of the Australian Consumer Law and Fair Trading Act 2012 (Vic) or Disposal of Uncollected Goods Act 1968 (Tas) (as applicable).

Passing of Property. 1. Notwithstanding delivery, the property in the Product shall remain vested in Seller until Buyer has paid in full the price for such Product and all other Product sold and delivered by Seller to Buyer. 2. In the period in which the property in the Product remains vested in Seller, Buyer holds the Product as bailee for Seller. During such a period Buyer shall keep the Product separate from any other Product in its possession and insured against all risks to their full replacement value at Buyer's expense. During such period Buyer shall have the right to use or sell the Product. 3. The rights to use and sell the Product granted to Buyer in Clause VI.2 may be terminated on written notice by Seller in the event of payment of any invoice becoming overdue and it shall automatically terminate without need of any notice in the event that a proceeding for suspension of payments, controlled administration, insolvency, bankruptcy, liquidation, winding-up, (or the equivalent under any jurisdiction) is initiated by or against Buyer, or Buyer enters into an arrangement with its creditors for its debts. Upon termination of such rights: (a) all sums owed by Buyer to Seller shall become immediately due and payable; (b) Seller shall be entitled to retake possession of the Product and/or to resell the Product, and for any such purposes it may enter Buyer's premises or seek an order by a competent authority to this effect. 4. In the event that the Product are processed or otherwise mixed with, or affixed to other Product to form a new product or other articles, upon manufacture of such new product or article the property therein shall be vested in Seller pro-rata, on the basis of the value of the Product over the value of such new product or article, and in respect of each such new product or article the provisions of Clauses VI.2 and VI.3 shall apply mutatis mutandis. 5. If the retention of title and the security stipulated in this Clause VI is not valid or only valid to a limited extent according to the applicable law, the rights of Seller under this Clause VI shall be valid and enforceable to the maximum extent possible under the applicable law.

Passing of Property. Title to and risk in the Goods will pass to us on delivery to us at the place specified in the Purchase Order or as otherwise specified in accordance with the Incoterm listed on the Purchase Order, without prejudice to any right to inspect, test and reject Goods which may accrue to us under these Terms. Upon delivery, we will have good title to the Goods, free and clear of all interests including any security interests or retention of title rights.

Passing of Property. 6.1 Notwithstanding delivery, all equipment, software, goods or services (“Customer Equipment”) supplied by us will remain our absolute property until you have paid for them in full and for all other equipment or Services previously supplied by us. In addition, where Services are subject to a transfer fee or other fixed charges such as domain names then no transfer or action will occur until you have paid that fee or charge in full and for all other equipment or Services previously supplied by us. 6.2 You will store the equipment in such a way that they are readily identifiable as our property and not sell, transfer or otherwise part with possession thereof to a third party. We shall be entitled, immediately after giving notice of our intention to repossess, to enter upon any premises with such transport as may be necessary and repossess any equipment to which we have title upon this clause. You will take all due care of all equipment and insure such equipment and indemnify us for any loss whatsoever suffered or incurred by us arising out of any failure to take such due care or insure the equipment. 6.3 Any costs reasonably incurred by us in recovering the equipment will be paid in full by you.