Responsibility of Property Clause Samples

The Responsibility of Property clause defines which party is accountable for the care, custody, and control of property during the term of an agreement. Typically, this clause specifies when responsibility for loss, damage, or theft transfers from one party to another, such as from a seller to a buyer upon delivery or from a landlord to a tenant upon possession. Its core function is to clearly allocate risk and liability for the property, thereby preventing disputes over who bears the consequences of any damage or loss.
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Responsibility of Property. The Table Sponsor assumes all risks related to or arising out of Table Sponsor’s participation or presence at the Event, including without limiting all risks of theft, loss, harm, damage or injury to property or person, and in no case will CEDIA be responsible for theft, loss, or damage to the Table Sponsor’s product or Display Space. Table Sponsor agrees that it is wholly responsible for protecting its property on and away from the Display Facility. The Table Sponsor is encouraged to have guards or security cages for the Display Space and should insure their property (from the time it leaves their warehouses until it returns) at their own expense. ALL TV panels must be individually crated on their own skid. If they are not on an individual skid we will not move them. More than one TV panel can be on a skid but must be on a skid.
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Responsibility of Property. The Table Sponsor assumes all risks related to or arising out of Table Sponsor’s participation or presence at the Event, including without limiting all risks of theft, loss, harm, damage or injury to property or person, and in no case will CEDIA be
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Responsibility of Property. Responsible Party will maintain the Property at the Responsible Party’s residence set forth above. Responsible Party shall not move the Property from Responsible Party’s residence without approval from the Port Allegany School District. In the event Responsible Party intends to move or change addresses during the term of this Agreement, Responsible Party agrees to provide thirty (30) days notice and the new address within the Port Allegany School District. Failure to provide PASD advance notice of any movement of the Property from Responsible Party’s residence set forth above may result in termination of this Agreement. Responsible Party will be solely responsible for the Property until it is returned to PASD and shall take all reasonable precautions to protect the Property. Responsible Party agrees to inform PASD of any loss or damage to the Property from any cause whatsoever, except normal wear and tear, within three (3) days of the loss or occurrence of damage.
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Responsibility of Property. The Post Falls Chamber of Commerce assumes no responsibility for any property, supplies or equipment placed in the board room or attached premises by Renter, and the Post Falls Chamber of Commerce is hereby expressly released and discharged from any and all liability for any loss, injury or damage to persons, property, equipment or supplies that may be sustained during or by reason of the occupancy of the Premises. The board room shall defend, indemnify and hold harmless, the Post Falls Chamber of Commerce, its directors, officers, and employees from and against any claim, loss, expense or damage to any person or property in the board room or attached premises. Indemnification described herein shall pertain to all common area around the board room, including but not limited to the parking lot, driveways, kitchen, hall areas, and restrooms.
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Responsibility of Property. Unless otherwise specified, upon delivery to Seller or manufacture or acquisition by Seller of any materials, parts, tooling, data or other property, title to which is in Buyer. Seller assumes the risk of and shall be responsible for any loss thereof or damage thereto. In accordance with the provisions of this Order, but in any event upon completion thereof, Seller shall return such property to Buyer in the condition in which it was received except for reasonable wear and tear and except for such property as has been reasonably consumed in the performance of this Order.
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Related to Responsibility of Property

  • Operation of Property To continue to operate the Property consistent with past practices.

  • Inspection of Property The Borrower and each of its Subsidiaries will keep proper books and records in accordance with GAAP and will permit reasonable examinations of its books and records and reasonable inspections of its property (subject to reasonable procedures relating to safety and security), accompanied by personnel of the Borrower, by the Administrative Agent and any Lender and/or their respective accountants or other professional advisers; provided that such examinations and inspections (a) will occur not more frequently than once in any calendar year, with reasonable efforts to make combined visits (unless a Default or an Event of Default has occurred and is continuing in which case such examinations may occur as frequently as reasonably determined by the Administrative Agent or any Lender, with no obligation to combine visits), (b) will be at the sole expense of the Administrative Agent and/or requesting Lender, as the case may be (unless a Default or an Event of Default has occurred and is continuing in which case such examinations will be at the expense of the Borrower), (c) will be undertaken at reasonable times following the provision of written notice in advance to the Borrower, and (d) will not unduly interfere with the operations or management of the Borrower’s business. Notwithstanding anything set forth herein to the contrary, under no circumstances shall the Borrower or any Subsidiary be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter (i) that constitutes non−financial trade secrets or non-financial confidential proprietary information, (ii) in respect of which disclosure to the Administrative Agent or any Lender (or their respective Affiliates, representatives, contractors, accountants or other professionals) is prohibited by any Governmental Rule or binding confidentiality agreement with a Person that is not an Affiliate of the Borrower and that was not entered into in contemplation of this Agreement, (iii) that is subject to attorney−client or similar privilege or constitutes attorney work product, or (iv) in the case of any discussions with accountants, only if the Borrower has been given the opportunity to participate in the discussions.

  • Removal of Property Upon expiration or earlier termination of this Lease, Tenant may remove its personal property, office supplies and office furniture and equipment if (a) such items are readily moveable and are not attached to the Premises; (b) such removal is completed prior to the expiration or earlier termination of this Lease; (c) no Event of Default exists at the time of such removal; and (d) Tenant immediately repairs all damage caused by or resulting from such removal. All other property in the Premises and any Tenant Alterations (including, wall-to-wall carpeting, paneling, wall covering, lighting fixtures and apparatus or wiring for Telecommunication Facilities or any other article affixed to the floor, walls, ceiling or any other part of the Premises or Building) shall become the property of Landlord and shall remain upon and be surrendered with the Premises; provided, however, at Landlord’s sole election, upon written notice by Landlord to Tenant at the time Tenant submits the plans and specifications for the Tenant Alterations to Landlord for its approval, Tenant shall be obligated, at its sole cost and expense, to remove at the end of the Lease Term or earlier termination of this Lease all (or such portion as Landlord shall designate) of the Removal Alterations (hereinafter defined) (including Telecommunication Facilities), repair any damages resulting from such removal and return the Premises to the same condition as existed prior to the installation of such Removal Alterations, reasonable wear and tear excepted. As used herein, the term “Removal Alterations” means any Tenant Alterations (including all Telecommunications Facilities and/or cabling in the Premises or running between the Premises and any other portion of the Building) (i) which Landlord, in response to a Removal Inquiry (hereinafter defined) by Tenant, indicated to Tenant must be removed by Tenant at the end of the Term; or (ii) with respect to which Tenant did not deliver a Removal Inquiry to Landlord at the time Tenant sough Landlord’s approval of such Tenant Alteration (in accordance with the provisions of this paragraph 4.7). As used herein, the term “Removal Inquiry” means an inquiry by Tenant, made to Landlord contemporaneously with Tenant’s request for approval of any Tenant Alternation, as to whether or not such Alteration must be removed by Tenant at the end of the Lease Term. Tenant waives all rights to any payment or compensation for such Tenant Alterations (including Telecommunication Facilities). If Tenant shall fail to remove any of its property from the Premises, Building or Land at the expiration or earlier termination of this Lease, Landlord may, at its option, remove and store such property at Tenant’s expense without liability for loss of or damage to such property, such storage to be for the account and at the expense of Tenant. Tenant shall pay all reasonable, actual and documented costs incurred by Landlord within fifteen (15) Business Days after demand for such payment. If Tenant fails to pay the cost of storing any such property, Landlord may, at its option, after it has been stored for a period of thirty (30) days or more, sell or permit to be sold, any or all such property at public or private sale (and Landlord may become a purchaser at such sale), in such manner and at such times and places as Landlord in its sole discretion may deem proper, and Landlord shall apply the proceeds of such sale: first, to the cost and expense of such sale, including reasonable attorneys’ fees actually incurred; second, to the payment of the costs or charges for storing any such property; third, to the payment of any other sums of money which may then be or later become due Landlord from Tenant under this Lease; and, fourth, the balance, if any, to Tenant.

  • Identity Of Property a. The Purchaser shall admit the identity of the Property purchased with that described in the Proclamation of Sale and such other documents such as muniments offered by the Auctioneer as to the title to the Property upon the evidence afforded by the comparison of the description in the particulars and muniments respectively and with that described in the Security Documents without requiring any further proof. b. The Purchaser shall accept the area shown in the particulars of the Proclamation of Sale or Conditions of Sale or Memorandum. The Assignee shall not be liable to the Purchaser for any discrepancy(ies) appearing after the sale concerning the identity of the Property purchased or the area shown in the particulars of the Conditions of Sale. c. Upon issuance of the strata/individual title to the Property, if the land or floor area is found to exceed that as described and additional payment is imposed for the excess area by the Developer and/or relevant authorities, then such additional payment shall be borne and paid solely by the Purchaser. d. If the land or floor area of the Property is found to be less then that as described, any claim for the reduced area shall be undertaken solely by the Purchaser against the Developer and/or such other party and the auction sale herein shall not be annulled and neither the Assignee, the Assignee’s Solicitors nor the Auctioneer shall be liable thereof for such claim.

  • Operation of Properties The Borrower will and will cause each Subsidiary to operate its Properties or cause such Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance in all material respects with all Governmental Requirements.