Common use of Upon acceptance Clause in Contracts

Upon acceptance. In accordance with this Article 2 of the General tams and provided that the obligations for payment in accordance with Article 3 of the Contract terms have been fulfilled by BUYER, tide to the HELICOPTER(S) and other SUPPLIES delivered hereunder shall be transferred to and vest In BUYER free and clear of any encumbrances, liens, privileges, claims and rights of others. BUYER shall bear, from the time of acceptance, all risks, costs and expenses relating to the HELICOPTER(S) and other SUPPLIES delivered, such as but not limited to storage charges, loss or damage, transportation, Insurance, maintenance.

Appears in 2 contracts

Sources: Framework Agreement (Integra Leasing As), Framework Agreement (Integra Leasing As)