PURCHASER’S PROPERTY Sample Clauses
The "Purchaser’s Property" clause defines the rights, responsibilities, or conditions related to a property currently owned by the purchaser in a transaction. Typically, this clause outlines requirements such as the sale of the purchaser’s existing property before completing the new purchase, or it may specify disclosures or warranties about the purchaser’s property. Its core function is to address contingencies or dependencies involving the purchaser’s current property, thereby managing risk and ensuring both parties are clear on how such factors may affect the transaction.
PURCHASER’S PROPERTY. 6.1 Materials such as components, machinery, tools, models, moulds, jigs and fixtures, accessories or others which may be made available to the Supplier by the Purchaser for the purposes of the Contract shall be under the Supplier's responsibility, care and custody; the Supplier shall take out insurance against any damage that they might suffer and shall clearly mark them and record them as being the property of the Purchaser.
6.2 The Supplier agrees to refrain from using such materials other than for the purpose of the Contract; it shall keep them in good working order, except for normal wear and tear.
6.3 Any damage or deterioration that such materials may suffer due to improper use or negligence by the Supplier shall be repaired at its cost. Without prejudice to the other rights of the Purchaser, the Supplier shall return such materials upon first request.
6.4 Legal ownership in and/or the right to dispose of any such Purchaser items shall under no circumstances pass to the Supplier. Upon the Purchaser’s request, and without prejudice to Purchaser’s rights under the Contract, the Supplier, without delay, shall allow the Purchaser, and/or any third party mandated by the Purchaser, to enter any premises of the Supplier to
6.5 Ownership of toolsmanufacturedor acquired by the Supplier especially for thepurposes of the Contractsuchasmodels, moulds,jigsandfixtures, accessoriesorothers, shallbetransferred to the Purchaser at the time of their manufacture or acquisition by the Supplier. The Supplier shall return the tools to the Purchaser by the end of the performance of the Contract at the latest.
PURCHASER’S PROPERTY. 6.1. Materials such as components, machinery, tools, models, moulds, jigs and fixtures, accessories or others which may bemade available to the Supplier by the Purchaser for the purposes of the Contract shall be under the Supplier's responsibility; the Supplier shall take out insurance against any damage that they might suffer and shall clearly mark them and record them as being the property of the Purchaser.
6.2. The Supplier agrees to refrain from using such materials other than for the purpose of the Contract; it shall keep them in good working order, except for normal wear and tear.
6.3. Without prejudice to the other rights of the Purchaser, the Supplier shall return such materials upon first request.
6.4. Upon the Purchaser’s request, and without prejudice to Purchaser’s rights under the Contract, the Supplier, without delay, shall allow the Purchaser or its agent, to enter any premises of the Supplier to repossess any such Purchaser items or any part thereof.
6.5. Ownership of tools manufactured or acquired by the Supplier especially for the purposes of the Contract such as models, moulds, jigs and fixtures, accessories or others, shall be transferred to the Purchaser at the time of their manufacture or acquisition by the Supplier. The Supplier shall return the tools to the Purchaser by the end of the performance of the Contract at the latest.
PURCHASER’S PROPERTY. All property (such as materials, drawings, documents etc) issued by the Purchaser or any other individual or firm on behalf of the Purchaser in connection with the contract shall remain confidential, being the property of the Purchaser and the Bidder / Contractor shall undertake to return all such property so issued and will be responsible for any or all loss thereof and damage thereto resulting from whatever causes and shall reimburse the Purchaser the full amount of loss and damage. 212. On completion of work in any compartment / location, the contractor must ensure that the place is left in a reasonably clean state and all scrap/Rubble/Debris/refuse is transferred to nearby scrap/Garbage/refuse bins.
PURCHASER’S PROPERTY. All property (such as materials, drawings, documents etc.) issued by the Purchaser or any other individual or firm on behalf of the Purchaser in connection with the contract shall remain confidential, being the property of the Purchaser and the Bidder/Supplier/Contractor shall undertake to return all such property so issued and will be responsible for any or all loss thereof and damage thereto resulting from whatever causes and shall reimburse the Purchaser the full amount of loss and damage. On completion of work in any compartment / location of the purchaser’s premises, the Bidder/Supplier/Contractor must ensure that the place is left in a reasonably clean state and all scrap is transferred to nearby scrap-bins.
PURCHASER’S PROPERTY. All property (such as materials, drawings, documents etc.) issued by the Purchaser or any other individual or firm on behalf of the Purchaser in connection with the contract shall remain confidential, being the property of the Purchaser and the Bidder/Supplier/Contractor shall undertake to return all such property so issued and will be responsible for any or all loss thereof and damage thereto resulting from whatever causes and shall reimburse the Purchaser the full amount of loss and damage. On completion of work in any compartment / location of the purchaser’s premises, the Bidder/Supplier/Contractor must ensure that the place is left in a reasonably clean state and all scrap is transferred to nearby scrap-bins. 17. RECOVERY-ADJUSTMENT PROVISIONS Payment made under one order shall not be assigned or adjusted to any other order except to the extent agreed upon in writing by the Purchaser. During the currency of the contract, if any sum of money is payable by the Bidder / Supplier / Contractor the same shall be deducted from any sum then due or thereafter may become due to the Bidder / Supplier / Contractor under the contract or any other contract with the Purchaser. 18. INDEMNIFICATION The Bidder / Supplier / Contractor, his employees, licences, agents or Sub-Supplier / Sub-contractor, while on site of the Purchaser for the purpose of this contract, indemnifies the Purchaser against direct damage and/or injury to the property and/or the person of the Purchaser or that of Purchaser's employees, agents, SubContractors / Suppliers occurring and to the extent caused by the negligence of the Bidder / Supplier / Contractor, his employees, licensees, agents or Sub-contractor by making good such damages to the property, or compensating personal injury and the total liability for such damages or injury shall be as mutually discussed and agreed to.
PURCHASER’S PROPERTY. Unless otherwise agreed in writing, all tools, equipment or material of every description furnished to Seller by Purchaser or specially paid for by Purchase, and any replacement thereof, or any materials affixed or attached thereto, shall be and remain the personal property of Purchaser. Such property and, whenever practical, each individual item thereof, shall be plainly marked or otherwise adequately identified by Seller as the property of the Purchaser and shall be safely stored separate and apart from Seller's property. Seller shall not substitute any property for Purchaser's orders. Such property, while in Seller's custody or control, shall be held at Seller's risk, shall be kept insured by Seller at Seller's expense in an amount equal to the replacement cost with loss payment to Purchaser and shall be subject to removal at Purchaser's written request, in which event Seller shall prepare such property for shipment and shall redeliver to Purchaser in the same condition as originally received by Seller, reasonable wear and tear excepted, all at Seller's expense.
PURCHASER’S PROPERTY. Unless otherwise agreed to in writing, all tools, equipment, documents, or other material in the Seller’s possession, which were furnished or paid for by Purchaser shall at all times be and remain the personal property of Purchaser. Seller shall properly maintain and secure Purchaser’s property at all times. Seller shall not commingle Purchaser’s property with the property of Seller or of any third party or move Purchaser’s property from Seller’s premises without Purchaser’s prior written approval. Seller assumes risk of loss or damage of Purchaser’s property while in Seller’s possession. Purchaser may enter Seller’s premises at all reasonable times to inspect its property and Seller’s records related thereto. ▇▇▇▇▇▇ agrees to only use Purchaser’s property when performing Seller’s obligations under the Agreement.
PURCHASER’S PROPERTY. Tangible or intangible property of any nature furnished to Seller by Purchaser or specifically paid for in whole or in part by Purchaser, and any replacements or attachments, are the property of Purchaser and, unless otherwise agreed in writing by Purchaser, will be used only by Seller solely to render services or provide goods to Purchaser. Seller will not substitute any property or take any action inconsistent with Purchaser's ownership of such property. While in Seller's custody or control such property will be held at Seller's risk, will be kept insured by Seller at its expense for its replacement cost with loss payable to Purchaser and will be subject to removal at Purchaser's written request, in which event Seller will prepare such property for shipment and redelivery to Purchaser in the same condition as originally received by Seller, reasonable wear and tear excepted, all at Seller's expense.
PURCHASER’S PROPERTY. (a) Unless otherwise expressly provided in this Agreement, all Special Property (hereinafter defined), and all tangible and intangible property furnished by the Purchaser to the Seller, or based on or derived from the Purchaser’s confidential or otherwise proprietary information, or produced or purchased by the Seller at the Purchaser’s expense, for use in the Seller’s performance hereunder, and any replacement thereof, is and shall remain the exclusive property of the Purchaser. For purposes of this Agreement, “Special Property” includes without limitation, any design pattern, mould, tool, die, jig, fixture, drawing, or other machine or equipment furnished or paid for by the Purchaser in connection with a purchase order.
(b) All such Special Property is to be kept in good repair and delivered to the Purchaser upon request, and shall not be used in the manufacture of any article for anyone other than the Purchaser.
(c) Special Property acquired specially for performance of a purchase order and the cost of which or for which the Purchaser is to pay the Seller as a separate item as indicated on the face of the relevant purchase order, shall upon such payment, become the property of the Purchaser.
(d) Further, all drawings, specifications, technical data or other information furnished by the Purchaser hereunder shall remain the property of the Purchaser and shall not be disclosed by the Seller to others or used for any purpose other than fulfilling the relevant purchase order.
PURCHASER’S PROPERTY. 211. All property (such as materials, drawings, documents etc) issued by the Purchaser or any other individual or firm on behalf of the Purchaser in connection with the contract shall remain confidential, being the property of the Purchaser and the Bidder / Contractor shall undertake to return all such property so issued and will be responsible for any or all loss thereof and damage thereto resulting from whatever causes and shall reimburse the Purchaser the full amount of loss and damage. 212. On completion of work in any compartment / location, the contractor must ensure that the place is left in a reasonably clean state and all scrap/Rubble/Debris/refuse is transferred to nearby scrap/Garbage/refuse bins. 213. The Purchaser would provide on demand the requisite material to be supplied as per the Contract. On completion / execution of the contract a reconciliation statement detailing quantity of material issued, quantity used for the contract, scrap generated, quantity returned to Stores and certificate regarding protection of Intellectual Property Rights will have to be submitted along with certified Invoice/s before payment/s are effected. Any excess consumption of material on account of wastage / damage, re - work not attributable to Purchaser will be suitably recovered from the Bidder / Contractor. 220. RISK PURCHASE 221. If the equipment / article / service or any portion thereof be not delivered / performed by the scheduled delivery date / period, any stoppage or discontinuation of ordered supply / awarded contract without written consent by Purchaser or not meeting the required quality standards the Purchaser shall be at liberty, without prejudice to the right of the Purchaser to recover Liquidated Damages / penalty as provided for in these conditions or to any other remedy for breach of contract, to terminate the contract either wholly or to the extent of such default. Amounts advanced or part thereof corresponding to the undelivered supply shall be recoverable from the Contractor / Bidder at the prevailing bank rate of interest.