PASSING OF RISK AND TITLE Sample Clauses
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PASSING OF RISK AND TITLE. 13.1 All Parts are at the risk of the Customer from delivery Ex Works (Incoterms 2010) the AJW Facility. Parts Repaired are at the risk of the Customer until received by AJW Delivered Duty Paid (Incoterms 2010) AJW Facility. If the Customer loses or damages a Unit whilst in its care, custody or control, it shall be responsible for either the cost of the Repair (if the unit is BER) or shall pay the replacement value (as defined in the Exchange Order) if the Unit has to be replaced.
13.2 The Customer agrees and warrants that title to and ownership of:
(i) Parts Sold by AJW shall remain with and be vested in AJW until AJW has received from the Customer full payment in accordance with these Standard Terms;
(ii) Parts Exchanged shall remain with and be vested in AJW until AJW has received from the Customer full payment in accordance with these Standard Terms or until such time as the Exchange Unit is installed on the Customer’s aircraft (whichever is the earlier) at which point in time AJW shall pass full legal and beneficial title to the Exchange Unit to Customer and Customer shall automatically and simultaneously pass full legal and beneficial title to and ownership of the Off Unit to AJW. In the event that an Off Unit is BER, title shall transfer in accordance with Clause 3.9;
(iii) any Loan Unit shall remain at all times with AJW, free from all liens and encumbrances other than any security interest created by or through AJW and the Customer shall have no right, title or interest in or to the Loan Unit except as authorised and permitted by these Standard Terms. The Customer agrees not to sell or pledge the Loan Unit, or to allow the Loan Unit to be the subject of any lien or encumbrance.
PASSING OF RISK AND TITLE. The Goods remain at the Supplier’s risk and title will not pass to the Principal until the Goods are delivered to, inspected by, and accepted by, the Principal at the relevant Delivery Point.
PASSING OF RISK AND TITLE. 8.1 Risk of damage to and loss of the Goods passes to the Buyer on Delivery. It is the responsibility of the Buyer to insure the Goods on and from Delivery.
8.2 Title to the Goods, whether delivered in full or in instalments, passes to the Buyer only if and when the Buyer has fully paid the Seller all amounts owing to the Seller for those Goods.
8.3 Until title passes to the Buyer, the Buyer:
(a) is a bailee of the Goods;
(b) will not remove or change the manner in which the Goods have been labelled by the Seller;
(c) will store the Goods in a manner which shows clearly that they are the property of the Seller;
(d) will not modify, change, intermix or attach the Goods to any other goods or property in any way that cannot be promptly reversed without causing damage to the Goods;
(e) holds the benefit of any insurance of the Goods on trust for the Seller and in the event the Goods are lost, damaged or destroyed, will pay the proceeds of such insurance to the Seller up to any outstanding amount owed by the Buyer under the Agreement;
(f) irrevocably authorises the Seller to enter any premises where the Goods are kept to inspect and/or recover possession of the Goods; and
(g) will not encumber or grant any interest in the Goods, by means of security or otherwise, in breach of this clause 8.3 and clause 11 (Personal Property Security).
8.4 Where the Goods are sold or used before title passes to the Buyer, any proceeds resulting from such sale or use will be held by the Buyer in a separate account on trust for the Seller until any outstanding amount owed by the Buyer under this Agreement has been fully paid to the Seller.
8.5 In the event of a default by the Buyer, the Seller may, without limiting any of its other rights or remedies, demand the immediate return of the Goods to the Seller at the Buyer’s expense or payment of proceeds
PASSING OF RISK AND TITLE. 14.1. At all times during a Repair or Overhaul, title to the Components shall remain vested in the Customer subject to AJWT’s rights under clause 9.
14.2. The Customer agrees and warrants that title to and ownership of Components Sold by AJWT shall remain with and be vested in AJWT until AJWT has received from the Customer full payment in accordance with these Standard Terms.
14.3. Any Loan Unit shall remain at all times with AJWT, free from all liens and encumbrances other than any security interest created by or through AJWT and the Customer shall have no right, title or interest in or to the Loan Unit except as authorised and permitted by these Standard Terms. The Customer agrees not to sell or pledge the Loan Unit, or to allow the Loan Unit to be the subject of any lien or encumbrance.
PASSING OF RISK AND TITLE. 13.1. All Parts are at the risk of the Customer from delivery Ex Works (Incoterms 2010) the AP&S Facility. Parts Repaired are at the risk of the Customer until received by AP&S Delivered Duty Paid (Incoterms 2010) the AP&S Facility.
13.2. The Customer agrees and warrants that title to and ownership of Parts Sold by AP&S shall remain with and be vested in AP&S until AP&S has received from the Customer full payment in accordance with these Standard Terms and the Credit Agreement.
PASSING OF RISK AND TITLE. The passing of risk and title takes place at Delivery. The passing of risk and title shall take place:
1) when the SAT has been passed in accordance with the test management plan and the acceptance test procedures, and the SATC has been signed by both Parties
2) when all the associated documentation pertaining to the Deliverables have been delivered, including training material, NATO codification numbers, etc.
PASSING OF RISK AND TITLE a) The risk in the Product and your Property shall pass to you on delivery as set forth herein. Subject to this Section full legal, beneficial and equitable title to the Product shall remain vested in us (even though they have been delivered and risk has passed to you) until we give written notice to you to pass legal and beneficial ownership of the Product to you or, if earlier: (a) payment in full, in cash or cleared funds, for all the Product has been received by us; and (b) all other money payable by you to us on any other account or under the Contract or any other contract or order has been received by us.
b) Until full legal, beneficial and equitable title to and property in the Product passes to you: (a) you shall hold the Product on a fiduciary basis as our bailee and shall store the
c) We hereby authorise you to use and/or sell the Product in the normal course of your business and to pass good title in the Product to your purchasers, if they are purchasers in good faith without notice of our rights. This right shall automatically cease if any sum owed to us by you is not paid when due. If you sell the Product prior to paying the full price thereof: (i) you shall hold the proceeds of sale on trust for us; and (ii) title to the Product shall pass from us to you immediately prior to you entering into a contract for the sale of the Product.
d) Our rights and remedies set forth herein are in addition to and shall not in any way prejudice, limit or restrict any of our other rights or remedies under the Contract or in law or equity. We shall be entitled to maintain an action against you for the price of the Product notwithstanding that legal, equitable and beneficial title to and property in the Product has not passed to you.
PASSING OF RISK AND TITLE. 3.1. The risk and property in the Fixtures and Fittings shall not pass to the Purchaser until the Completion Date
3.2. Notwithstanding anything hereinbefore contained to the extent that any of the Assets hereby agreed to be sold are the subject of a lease and/or hire agreements and cannot effectively be transferred to the Purchaser except with the consent of or by an agreement of novation with one or more third parties the obligation of the Vendor to transfer the same shall be conditional upon the consent of such third parties being received or (as the case may be) such novation being effected and until such consent has been received or such novation has been effected the Purchaser shall pending the transfer thereof perform all the obligations of the Vendor under such lease or hire agreement and indemnify the Vendor against all liabilities thereunder
PASSING OF RISK AND TITLE. Passing of Risk and Title of the FRB shall take place when the:
1) SAT has been passed in accordance with the test management plan and the a c- ceptance test procedures, and the SATC has been signed by DALO for the FRB,
2) when all the associated documentation pertaining to the FRB as applicable or all the Deliverables have been delivered, including Training material, NATO codifica- tion numbers, maintenance and service instructions, Initial Package of Spare Parts and Other Items etc., and
3) the Partial Delivery of the Deliverables has taken place in accordance with clause
PASSING OF RISK AND TITLE. The and risk in the Product shall pass to the Registered Member upon delivery of the same to the or if the Registered Member fails to take delivery of the Product (otherwise than by reason of any cause beyond the Registered Member's reasonable control or the Order Recipient's fault), when the Order Recipient has tendered delivery of the Product. Notwithstanding anything stated herein, the title to the Product shall only passed to the Registered Owner upon delivery of the same to the Registered Owner and payment of total purchase price by the Registered Owner in full.