PASSING OF TITLE. 27.1 To the extent already paid for by the Managers using funds specifically provided by the Owners for such a purpose, title to any goods, materials or supplies purchased by the Managers for use in the performance of this Agreement shall belong to the Owners. 27.2 Upon termination of this Agreement all such goods, materials or supplies in the hands of the Managers shall be delivered to the Vessel or if requested by the Owners the Managers shall sell or dispose of such goods, materials or supplies at such price, terms and conditions as may be approved by the Owners and remit the proceeds thereof less any expenses incurred in selling or disposing of such goods to an account of the Owners, to be advised separately in writing to the Managers.
Appears in 3 contracts
Sources: Standard Ship Management Agreement (Scorpio Tankers Inc.), Standard Ship Management Agreement (Scorpio Tankers Inc.), Standard Ship Management Agreement (Scorpio Tankers Inc.)
PASSING OF TITLE. 27.1 34.1 To the extent already paid for by the Managers using funds specifically provided by the Owners for such a purpose, title to any goods, materials or supplies purchased by the Managers for use in the performance of this Agreement shall belong to the Owners.
27.2 34.2 Upon termination of this Agreement all such goods, materials or supplies in the hands of the Managers shall be delivered to the Vessel or if requested by the Owners the Managers shall sell or dispose of such goods, materials or supplies at such price, terms and conditions as may be approved by the Owners and remit the proceeds thereof less any expenses incurred in selling or disposing of such goods to an account of the Owners, to be advised separately in writing to the Managers.
Appears in 3 contracts
Sources: Master Agreement, Master Agreement (Scorpio Tankers Inc.), Master Agreement (Scorpio Tankers Inc.)
PASSING OF TITLE. 27.1 35.1 To the extent already paid for by the Managers using funds specifically provided by the Owners for such a purpose, title to any goods, materials or supplies purchased by the Managers for use in the performance of this Agreement shall belong to the Owners.
27.2 35.2 Upon termination of this Agreement all such goods, materials or supplies in the hands of the Managers shall be delivered to the Vessel or if requested by the Owners the Managers shall sell or dispose of such goods, materials or supplies at such price, terms and conditions as may be approved by the Owners and remit the proceeds thereof less any expenses incurred in selling or disposing of such goods to an account of the Owners, to be advised separately in writing to the Managers.
Appears in 2 contracts
Sources: Ship Management Agreement (Scorpio Tankers Inc.), Master Agreement (Scorpio Bulkers Inc.)
PASSING OF TITLE. 27.1 To the extent already paid for by the Managers using funds specifically provided by the Owners for such a purpose, title to any goods, materials or supplies purchased by the Managers for use in the performance of this Agreement shall belong to the Owners.
27.2 Upon termination of this Agreement all such goods, materials or supplies in the hands of the Managers shall be delivered to the Vessel or if If requested by the Owners the Managers shall sell or dispose of such goods, materials or supplies at such price, terms and conditions as may be approved by the Owners and remit the proceeds thereof less any expenses incurred Incurred in selling or disposing of such goods to an account of the Owners, to be advised separately in writing to the Managers.
Appears in 1 contract