Common use of RISK/TITLE Clause in Contracts

RISK/TITLE. Goods are at the risk of Buyer from time of delivery. Buyer’s right to possession of Goods shall terminate immediately if: (i) Buyer has a bankruptcy order made against it or makes an arrangement or composition with his creditors, or otherwise takes the benefit of any statutory provision for the time being in force for the relief of insolvent debtors, or (being a body corporate) convenes a meeting of creditors (whether formal or informal), or enters into liquidation (whether voluntary or compulsory), except a solvent voluntary liquidation for the purpose only of reconstruction or amalgamation, or has a receiver and/or manager, administrator or administrative receiver appointed of its undertaking or any part thereof, or documents are filed with the court for the appointment of an administrator of Buyer or notice of intention to appoint an administrator is given by Buyer or its directors or by a qualifying floating charge holder (as defined in paragraph 14 of Schedule B1 to the Insolvency Act 1986), or a resolution is passed or a petition presented to any court for the winding-up of Buyer or for the granting of an administration order in respect of Buyer, or any proceedings are commenced relating to the insolvency or possible insolvency of Buyer; or (ii) Buyer suffers or allows any execution, whether legal or equitable, to be levied on its property or obtained against it, or fails to observe or perform any of its obligations under the Contract or any other contract between Seller and Buyer, or is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 or Buyer ceases to trade; or (iii) Buyer encumbers or in any way charges any of Goods. Seller shall be entitled to recover payment for Goods notwithstanding that ownership of any of Goods has not passed from Seller. While any payment for Goods remains outstanding, Seller may require return of Goods. Where Goods are not returned in a reasonable time, Buyer grants Seller an irrevocable licence at any time to enter any premises where Goods are or may be stored in order to inspect them, or, where Buyer’s right to possession has terminated, to recover them, and to sever Goods where they are attached or connected to another item without being responsible for any damage caused. Any such return or recovery shall be without prejudice to Buyer’s continuing obligation to purchase Goods in accordance with the Contract. Where Seller is unable to determine whether any goods are the Goods in respect of which Buyer’s right to possession has terminated, Buyer shall be deemed to have sold all Goods of the kind sold by Seller to Buyer in the order in which they were invoiced to Buyer. On termination of the Contract, howsoever caused, Seller’s (but not Buyer’s) rights contained in this Section 4 shall remain in effect

Appears in 1 contract

Samples: www.ametek.co.uk

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RISK/TITLE. Goods are at the risk of Buyer from time of delivery. Buyer’s right to possession of Goods shall terminate immediately if: (i) Buyer has a bankruptcy order made against it or makes an arrangement or composition with his creditors, or otherwise takes the benefit of any statutory provision for the time being in force for the relief of insolvent debtors, or (being a body corporate) convenes a meeting of creditors (whether formal or informal), or enters into liquidation (whether voluntary or compulsory), except a solvent voluntary liquidation for the purpose only of reconstruction or amalgamation, or has a receiver and/or manager, administrator or administrative receiver appointed of its undertaking or any part thereof, or documents are filed with the court for the appointment of an administrator of Buyer or notice of intention to appoint an administrator is given by Buyer or its directors or by a qualifying floating charge holder (as defined in paragraph 14 of Schedule B1 to the Insolvency Act 1986), or a resolution is passed or a petition presented to any court for the winding-up of Buyer or for the granting of an administration order in respect of Buyer, or any proceedings are commenced relating to the insolvency or possible insolvency of Buyer; or (ii) Buyer suffers or allows any execution, whether legal or equitable, to be levied on its property or obtained against it, or fails to observe or perform any of its obligations under the Contract or any other contract between Seller and Buyer, or is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 Act 1986 or Buyer ceases to trade; or (iii) Buyer encumbers or in any way charges any of Goods. Seller shall be entitled to recover payment for Goods notwithstanding that ownership of any of Goods has not passed from Seller. While any payment for Goods remains outstanding, Seller may require return of Goods. Where Goods are not returned in a reasonable time, Buyer grants Seller an irrevocable licence at any time to enter any premises where Goods are or may be stored in order to inspect them, or, where Buyer’s right to possession has terminated, to recover them, and to sever Goods where they are attached or connected to another item without being responsible for any damage caused. Any such return or recovery shall be without prejudice to Buyer’s continuing obligation to purchase Goods in accordance with the Contract. Where Seller is unable to determine whether any goods are the Goods in respect of which Buyer’s right to possession has terminated, Buyer shall be deemed to have sold all Goods of the kind sold by Seller to Buyer in the order in which they were invoiced to Buyer. On termination of the Contract, howsoever caused, Seller’s (but not Buyer’s) rights contained in this Section 4 shall remain in effectRevised 03.16.2022

Appears in 1 contract

Samples: www.finetubes.co.uk

RISK/TITLE. Goods are at the risk of Buyer from time of delivery. Buyer’s right to possession of Goods shall terminate immediately if: (i) Buyer has a bankruptcy order made against it or makes an arrangement or composition with his creditors, or otherwise takes the benefit of any statutory provision for the time being in force for the relief of insolvent debtors, or (being a body corporate) convenes a meeting of creditors (whether formal or informal), or enters into liquidation (whether voluntary or compulsory), except a solvent voluntary liquidation for the purpose only of reconstruction or amalgamation, or has a receiver and/or manager, administrator or administrative receiver appointed of its undertaking or any part thereof, or documents are filed with the court for the appointment of an administrator of Buyer or notice of intention to appoint an administrator is given by Buyer or its directors or by a qualifying floating charge holder (as defined in paragraph 14 of Schedule B1 to the Insolvency Act 1986), or a resolution is passed or a petition presented to any court for the winding-up of Buyer or for the granting of an administration order in respect of Buyer, or any proceedings are commenced relating to the insolvency or possible insolvency of Buyer; or (ii) Buyer suffers or allows any execution, whether legal or equitable, to be levied on its property or obtained against it, or fails to observe or perform any of its obligations under the Contract or any other contract between Seller and Buyer, or is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 or Buyer ceases to trade; or (iii) Buyer encumbers or in any way charges any of Goods. Seller shall be entitled to recover payment for Goods notwithstanding that ownership of any of Goods has not passed from Seller. While any payment for Goods remains outstanding, Seller may require return of Goods. Where Goods are not returned in a reasonable time, Buyer grants Seller an irrevocable licence at any time to enter any premises where Goods are or may be stored in order to inspect them, or, where Buyer’s right to possession has terminated, to recover them, and to sever Goods where they are attached or connected to another item without being responsible for any damage caused. Any such return or recovery shall be without prejudice to Buyer’s continuing obligation to purchase Goods in accordance with the Contract. Where Seller is unable to determine whether any goods are the Goods in respect of which Buyer’s right to possession has terminated, Buyer shall be deemed to have sold all Goods of the kind sold by Seller to Buyer in the order in which they were invoiced to Buyer. On termination of the Contract, howsoever caused, Seller’s (but not Buyer’s) rights contained in this Section 4 shall remain in effect.

Appears in 1 contract

Samples: www.ametektest.com

RISK/TITLE. Goods are at the risk of Buyer from time of delivery. Buyer’s right to possession of Goods shall terminate immediately if: (i) Buyer has a bankruptcy order made against it or makes an arrangement or composition with his creditors, or otherwise takes the benefit of any statutory provision for the time being in force for the relief of insolvent debtors, or (being a body corporate) convenes a meeting of creditors (whether formal or informal), or enters into liquidation (whether voluntary or compulsory), except a solvent voluntary liquidation for the purpose only of reconstruction or amalgamation, or has a receiver and/or manager, administrator or administrative receiver appointed of its undertaking or any part thereof, or documents are filed with the court for the appointment of an administrator of Buyer or notice of intention to appoint an administrator is given by Buyer or its directors or by a qualifying floating charge holder (as defined in paragraph 14 of Schedule B1 to the Insolvency Act 1986), or a resolution is passed or a petition presented to any court for the winding-up of Buyer or for the granting of an administration order in respect of Buyer, or any proceedings are commenced relating to the insolvency or possible insolvency of Buyer; or (ii) Buyer suffers or allows any execution, whether legal or equitable, to be levied on its property or obtained against it, or fails to observe or perform any of its obligations under the Contract or any other contract between Seller and Buyer, or is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 Act 1986 or Buyer ceases to trade; or (iii) Buyer encumbers or in any way charges any of Goods. Seller shall be entitled to recover payment for Goods notwithstanding that ownership of any of Goods has not passed from Seller. While any payment for Goods remains outstanding, Seller may require return of Goods. Where Goods are not returned in a reasonable time, Buyer grants Seller an irrevocable licence at any time to enter any premises where Goods are or may be stored in order to inspect them, or, where BuyerXxxxx’s right to possession has terminated, to recover them, and to sever Goods where they are attached or connected to another item without being responsible for any damage caused. Any such return or recovery shall be without prejudice to Buyer’s continuing obligation to purchase Goods in accordance with the Contract. Where Seller is unable to determine whether any goods are the Goods in respect of which BuyerXxxxx’s right to possession has terminated, Buyer Xxxxx shall be deemed to have sold all Goods of the kind sold by Seller to Buyer in the order in which they were invoiced to Buyer. On termination of the Contract, howsoever caused, Seller’s (but not Buyer’s) rights contained in this Section 4 shall remain in effect.

Appears in 1 contract

Samples: www.ametekinterconnect.com

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RISK/TITLE. Goods are at the risk of Buyer from time of delivery. Buyer’s right to possession of Goods shall terminate immediately if: (i) Buyer has a bankruptcy order made against it or makes an arrangement or composition with his creditors, or otherwise takes the benefit of any statutory provision for the time being in force for the relief of insolvent debtors, or (being a body corporate) convenes a meeting of creditors (whether formal or informal), or enters into liquidation (whether voluntary or compulsory), except a solvent voluntary liquidation for the purpose only of reconstruction or amalgamation, or has a receiver and/or manager, administrator or administrative receiver appointed of its undertaking or any part thereof, or documents are filed with the court for the appointment of an administrator of Buyer or notice of intention to appoint an administrator is given by Buyer or its directors or by a qualifying floating charge holder (as defined in paragraph 14 of Schedule B1 to the Insolvency Act 1986), or a resolution is passed or a petition presented to any court for the winding-up of Buyer or for the granting of an administration order in respect of Buyer, or any proceedings are commenced relating to the insolvency or possible insolvency of Buyer; or (ii) Buyer suffers or allows any execution, whether legal or equitable, to be levied on its property or obtained against it, or fails to observe or perform any of its obligations under the Contract or any other contract between Seller and Buyer, or is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 or Buyer ceases to trade; or (iii) Buyer encumbers or in any way charges any of Goods. Seller shall be entitled to recover payment for Goods notwithstanding that ownership of any of Goods has not passed from Seller. While any payment for Goods remains outstanding, Seller may require return of Goods. Where Goods are not returned in a reasonable time, Buyer grants Seller an irrevocable licence at any time to enter any premises where Goods are or may be stored in order to inspect them, or, where Buyer’s right to possession has terminated, to recover them, and to sever Goods where they are attached or connected to another item without being responsible for any damage caused. Any such return or recovery shall be without prejudice to Buyer’s continuing obligation to purchase Goods in accordance with the Contract. Where Seller is unable to determine whether any goods are the Goods in respect of which Buyer’s right to possession has terminated, Buyer shall be deemed to have sold all Goods of the kind sold by Seller to Buyer in the order in which they were invoiced to Buyer. On termination of the Contract, howsoever caused, Seller’s (but not Buyer’s) rights contained in this Section 4 shall remain in effectineffect.

Appears in 1 contract

Samples: www.ametektest.com

RISK/TITLE. Goods are at the risk of Buyer from time of delivery. Buyer’s right to possession of Goods shall terminate immediately if: (i) Buyer has a bankruptcy order made against it or makes an arrangement or composition with his creditors, or otherwise takes the benefit of any statutory provision for the time being in force for the relief of insolvent debtors, or (being a body corporate) convenes a meeting of creditors (whether formal or informal), or enters into liquidation (whether voluntary or compulsory), except a solvent voluntary liquidation for the purpose only of reconstruction or amalgamation, or has a receiver and/or manager, administrator or administrative receiver appointed of its undertaking or any part thereof, or documents are filed with the court for the appointment of an administrator of Buyer or notice of intention to appoint an administrator is given by Buyer or its directors or by a qualifying floating charge holder (as defined in paragraph 14 of Schedule B1 to the Insolvency Act 1986), or a resolution is passed or a petition presented to any court for the winding-up of Buyer or for the granting of an administration order in respect of Buyer, or any proceedings are commenced relating to the insolvency or possible insolvency of Buyer; or (ii) Buyer suffers or allows any execution, whether legal or equitable, to be levied on its property or obtained against it, or fails to observe or perform any of its obligations under the Contract or any other contract between Seller and Buyer, or is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 Act 1986 or Buyer ceases to trade; or (iii) Buyer encumbers or in any way charges any of Goods. Seller shall be entitled to recover payment for Goods notwithstanding that ownership of any of Goods has not passed from Seller. While any payment for Goods remains outstanding, Seller may require return of Goods. Where Goods are not returned in a reasonable time, Buyer grants Seller an irrevocable licence license at any time to enter any premises where Goods are or may be stored in order to inspect them, or, where BuyerXxxxx’s right to possession has terminated, to recover them, and to sever Goods where they are attached or connected to another item without being responsible for any damage caused. Any such return or recovery shall be without prejudice to Buyer’s continuing obligation to purchase Goods in accordance with the Contract. Where Seller is unable to determine whether any goods are the Goods in respect of which BuyerXxxxx’s right to possession has terminated, Buyer Xxxxx shall be deemed to have sold all Goods of the kind sold by Seller to Buyer in the order in which they were invoiced to Buyer. On termination of the Contract, howsoever caused, Seller’s (but not Buyer’s) rights contained in this Section 4 shall remain in effect.

Appears in 1 contract

Samples: innovative-measurement-technology.co.uk

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