Common use of Purchaser Property Clause in Contracts

Purchaser Property. 24.01 Equipment purchased for the Service(s) and paid for out of funds disbursed by the Purchaser to the Contractor pursuant to the provisions of this Contract shall be deemed to be the property of the Purchaser. Upon completion of the Service, the Contractor shall transfer such equipment to the Purchaser in accordance with the instructions of the Purchaser. Upon the completion, termination or suspension of the Service, the Contractor shall furnish to the Purchaser information in the form of inventories certified by the Contractor, in respect of the equipment referred to in this Article. 24.02 All Purchaser property, including but not limited to equipment, drawings, research, writings, data in any format (including electronic), or other information furnished to Contractor by the Purchaser for use in the performance of this Contract, shall at all times be the property of the Purchaser. Upon completion, termination or expiration of this Contract, or at such other times as the Purchaser may direct, Contractor will return to the Purchaser all such property, at Contractor's expense.