POSSESSION AND TITLE Sample Clauses
The POSSESSION AND TITLE clause defines when legal ownership (title) and physical control (possession) of goods or property transfer from one party to another. Typically, this clause specifies the exact point—such as upon delivery, payment, or completion of certain conditions—when the buyer assumes both the rights and responsibilities associated with the goods. By clearly delineating when risk and ownership shift, the clause helps prevent disputes over liability for loss or damage and ensures both parties understand their obligations during the transaction process.
POPULAR SAMPLE Copied 1 times
POSSESSION AND TITLE. Provided that the Form A Transfer conveying the Lands from the Owner to the Village has been submitted to the Land Title Office and the Purchase Price, as adjusted, has been delivered to the Owner's Legal Representatives, in trust, the Owner will transfer to the Village good, safe holding and marketable title to the Lands and will give to the Village vacant possession of the Lands on the Closing Date free from all tenancies, judgments, liens, claims, charges, service contracts, encumbrances and legal notations other than the Permitted Encumbrances.
POSSESSION AND TITLE. Seller shall deliver possession of the Property to Buyer at closing. Title shall be conveyed to Buyer, if more than one as Joint tenants with rights of survivorship, tenants in common, Other: Prior to closing the property shall remain in the possession of Seller and Seller shall deliver the property to Buyer in substantially the same condition at closing, as on the date of this contract, reasonable wear and tear excepted.
POSSESSION AND TITLE. Possession of and title to the Business Assets shall be given and taken with effect from the close of business on the Completion Date at which time the Vendor sells, transfers and assigns the Business Assets to the Purchaser and the Purchaser shall buy and take over the Business Assets.
POSSESSION AND TITLE. The property is sold in its “AS IS, WHERE IS” condition without any warranty as to its condition whatsoever, subject to all tenants and rights of use or possession, outstanding municipal charges for sewer, water or betterment assessments/connection charges for the same and other matters of record, if any, including State and Federal tax liens having priority over the Town’s tax lien or title.
POSSESSION AND TITLE. Seller shall deliver possession of the Property to Buyer at closing. Prior to closing the property shall remain in the possession of Seller.
POSSESSION AND TITLE. 7.1 As between the Parties, Seller shall be deemed to be in exclusive control and possession of all Product to be delivered under this Agreement prior to its delivery to Buyer, and Seller shall bear the risk of loss and be responsible for any damage or injury caused by such Product prior to its delivery to Buyer. Seller shall indemnify Buyer and hold Buyer harmless from all liability and expense on account of any and all damages, claims or actions, including injury to and death of persons, arising with respect to such Product prior to its delivery to Buyer.
7.2 As between the Parties, Buyer shall be deemed to be in exclusive control and possession of all Product to be delivered under this Agreement after its delivery, and Buyer shall bear the risk of loss and be responsible for any damage or injury caused by such Product after its delivery to Buyer. Buyer shall indemnify Seller and hold Seller harmless from all liability and expense on account of any and all damages, claims or actions, including injury to and death of persons, arising with respect to such Product after its delivery to Seller.
7.3 Title to all Product sold and purchased hereunder shall pass from Seller to Buyer at the Delivery Point applicable to the sale and purchase of such Product. Delivery occurs when product exits the transport vehicle provided by Seller or when Buyer picks up product with its vehicle. Specific delivery points are as follows:
a. if via rack: coupler, at the loading rack;
b. If via pipeline, at the pipeline meter into Buyer’s terminal facility;
c. If from barge: at the outlet flange of hose if hose provided by barge, otherwise permanent discharge pipe flange; or
d. If to barge, at the inlet flange of hose if hose provided by barge, otherwise permanent loading pipe.
7.4 Seller warrants title to all Product sold and all Product delivered under this Agreement, free and clear of all liens, encumbrances, production burdens and other adverse claims whatsoever.
7.5 Prior to taking possession of Product Buyer will acknowledge receipt of Seller’s Material Safety Data Sheet (MSDS) and is aware of its contents and of the hazards in handling, storage, use and transportation of Product. Buyer will inform its employees or agents of any Product hazards or risks, and will provide a copy of each product MSDS to its handlers of the Product.
POSSESSION AND TITLE. Possession of, and title to, the Trees will be given and taken on Settlement. Subject to Settlement, the benefit of the Trees will accrue to Teal from 2.00pm on the Settlement Date.
POSSESSION AND TITLE. 18.1 As between the Parties, BP shall be deemed to be in exclusive control and possession of all unbranded fuel prior to its delivery to Customer, and BP shall bear the risk of loss and be responsible for any damage or injury caused by such unbranded fuel prior to its delivery to Customer. BP shall indemnify Customer and hold Customer harmless from all liability and expense on account of any and all damages, claims or actions, including injury to and death of persons, arising with respect to such unbranded fuel prior to its delivery to Customer.
18.2 As between the Parties, Customer shall be deemed to be in exclusive control and possession of all unbranded fuel after its delivery, and Customer shall bear the risk of loss and be responsible for any damage or injury caused by such unbranded fuel after its delivery to Customer. Customer shall indemnify BP and hold BP harmless from all liability and expense on account of any and all damages, claims or actions, including injury to and death of persons, arising with respect to such unbranded fuel after its delivery to Customer.
18.3 Title to all unbranded fuel sold and purchased through the BP Fuels eSales System shall pass from BP to Customer at the location designated in the Purchase Confirmation.
18.4 BP warrants title to all unbranded fuel sold and all unbranded fuel delivered under the BP Fuels eSales System, free and clear of all liens, encumbrances, production burdens and other adverse claims to title whatsoever.
POSSESSION AND TITLE. Subject to clause 4, full title to the Tritton Project Assets shall transfer to Nord on Completion and Nord shall take full possession of the Tritton Project Assets on Completion.
POSSESSION AND TITLE. Subject to Sections 11.01 and 11.02 of this Agreement, Seller shall deliver possession of the Property to Buyer at closing. Title shall be conveyed to Buyer. Prior to closing the property shall remain in the possession of Seller and Seller shall deliver the property to Buyer in substantially the same condition at closing, as on the date of this contract, reasonable wear and tear excepted.