Retention of Ownership Clause Samples

Retention of Ownership. Notwithstanding anything to the contrary herein contained, ownership of all materials brought onto the erf or building site shall remain vested in the contractor until such time as all amounts due in terms of this agreement has been paid in full.

Retention of Ownership. 7.1 The Seller retains title to all delivered Product until the purchase price has been paid in full and all claims arising from the commercial relationship with the Customer have been settled. Should there be a current account credit balance, the Seller retains ownership until the balance is settled; in respect of bills of exchange or cheques, until they are cleared in full without any reservation. 7.2 Should the retention of title expire as a result of treatment or processing, combination or merging, the Seller shall become the owner or co-owner of the resulting new item in the proportion of the value of the Product to that of the new item. The Customer shall hold the latter in safekeeping for the Seller free of charge. Should any claims arise from the loss of our reserved property or new joint ownership, these are hereby transferred to the Seller. 7.3 In the event that the Customer acts in violation of the Agreement, in particular if the agreed payment dates are not met, the Seller is entitled to withdraw from the Agreement. If the Seller withdraws from the Agreement, the Customer is obliged to return the delivered Product without undue delay. Insofar as these have become essential components of a property, the Customer undertakes to allow the Seller to dismantle the items that can be removed without significant impairment of the structure (and/or to secure that the Seller can and is permitted to enter any premises necessary to dismantle respective items) and to transfer the ownership of these items back to the Seller. Should the Customer interfere with the aforementioned rights, it shall be liable to pay damages to the Seller. Disassembly and other costs shall be borne by the Customer. 7.4 The Customer shall be entitled to process and sell the delivered items in the usual course of business. The claims against third parties arising from the further distribution are hereby assigned to the Seller as a preventive measure. The Customer is obliged to issue a confirmation proving such an assignment at the Seller’s request or to execute respective assignment. The Seller hereby accepts the assignment. 7.5 As long as the Customer meets his payment obligations, he is authorized to collect the assigned claims on behalf of the Seller. The proceeds shall be transferred to the Seller immediately. The Customer hereby authorizes the Seller to notify the third-party debtor of the assignment. 7.6 The Customer shall not be entitled to pledge or assign by way of security ...

Retention of Ownership. 5.3.1. In case of deferred payments, the Products shall remain property of the Seller until the integral payment of the Price, in the measure allowed by the law of the Country in which the Products are located. 5.3.2. The Buyer undertakes to do anything necessary to constitute a valid retention of ownership in the most extended form possible, or to constitute an equal guarantee (such as Security Interest, etc..), in favour of the Seller; the Buyer undertakes to cooperate with the Seller to implement all the necessary measures to protect the Seller’s right of ownership. The Seller is entitled to carry out all the necessary formalities in order to make the Seller’s retention of ownership right enforceable against any third party.

Retention of Ownership. 10.1 We reserve the right of ownership and the right of disposition to the delivery goods until such time as all payments from the supply agreement and any previous agreements have been received. This includes accounts receivable from checks and bills of exchange as well as those from current accounts. Should a liability related to payment by bill of exchange accrue to us in the course of the buyer's payment, then this shall in no way eliminate our retention to ownership before the possibility of us being invoked for the bill of exchange is excluded. Prior to the full and complete settlement of our aforesaid accounts receivable, the buyer shall be entitled to continue using the delivered products in the proper course of his ordinary business, unless a non-assignment agreement has been entered into with third parties for accounts receivable pursuant to point 10.4 which have been assigned to us in advance. Prior to full and complete settlement, pledging and assignment as security shall be prohibited and resale shall only be permitted for resellers in the course of their usual business, under the condition that the reseller receives payment from his customer and forwards it to us immediately. Any intervention expenses which may arise are to be born by the buyer. 10.2 In the case of attachments, confiscation or other dispositions and interference by third parties, the buyer is to notify us immediately. 10.3 In the event of behavior of the buyer which violates the agreement, in particular in the event of delayed payment, we shall be entitled, after issuing appropriate payment reminder, to reclaim the delivery goods and the buyer shall be obligated to relinquish these. 10.4 The assertion of the reservation of ownership as well as the attachment of the delivery goods by us shall not be deemed to constitute withdrawal from the agreement, provided that the German Installment Purchase Act does not apply. 10.5 The buyer at this point assigns to us all accounts receivable up to the proportionate amount of our invoice, including sales tax/VAT with all ancillary rights, which he accumulates through resale to customers or third parties. This shall also apply in cases where the buyer has placed the purchase money claim which has accrued to him through resale into a current account arranged with a customer or third party. We will accept the assignment. 10.6 In the event of connection with real estate or moveable property belonging to third parties or with processing within...

Retention of Ownership. (a) Transfer of ownership under this Chapter (VI.) shall become unconditional and definitive if and in the moment the Event of LTV Default occurs.

Retention of Ownership. Ownership of the PHI resides with the Agency and is to be returned on demand or destroyed at the Agency's option, at any time, and subject to the restrictions found within section 4.b. above.

Retention of Ownership. The transfer of ownership of the sold Product is dependent on the Buyer’s full payment of the price by the due date. The payment of the price refers to actual receipt of the principal price and its incidental charges. In case of non-payment by the due date, the Seller may request the return of the Products, at the Buyer’s expense, without prejudice to any claims for damages and interest for failure to pay all or part of the price.

Retention of Ownership. Each party shall retain its rights and interests in and to its intellectual property, and any derivatives thereof. Subject to Section 6.3, each party’s intellectual property is deemed that party’s Confidential Information. Notwithstanding anything to the contrary, no terms and conditions herein shall transfer ownership of one party’s intellectual property to the other party.

Retention of Ownership. Except for the License granted to the Licensee under this Agreement and the Order, the Licensor will retain all right, title and interest in Licensed Technology, including all worldwide technology and intellectual property and proprietary rights therein.