Custody and Title Sample Clauses
The "Custody and Title" clause defines which party holds physical possession (custody) of goods and which party legally owns (holds title to) those goods at various stages of a transaction. In practice, this clause specifies when and how ownership and responsibility for the goods transfer from seller to buyer, such as upon delivery, shipment, or payment. By clearly allocating both risk and ownership, the clause helps prevent disputes over loss, damage, or liability during the transfer process.
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Custody and Title. Section 11.1 Possession, title, and risk of loss to the NGLs shall pass from Customer to Processor and vest in Processor at the inlet flange connection at the Delivery Point(s) and possession , title, and risk of loss to the Products shall pass from Processor to Customer and vest in Customer at the inlet flange connection at the Exchange Point(s). Upon receipt of the NGLs or Products, as the case may be, the receiving party will be deemed to have exclusive ownership and control of said NGLs or Product and shall be responsible for any injuries or damages caused thereby.
Custody and Title. Control of, title, and risk of loss to the NGL’s shall pass from Pioneer to KHLP and vest in KHLP at the inlet flange connection at the Delivery Points. Upon acceptance of the NGL’s, KHLP will be deemed to have exclusive ownership and control of said NGL’s and shall be responsible for any injuries or damages caused thereby, except to the extent caused by the acts or omission of the Pipelines, Pioneer and/or their agents. Prior to delivery at the Delivery Points, Pioneer will be deemed to have exclusive ownership and control of said NGL’s and shall be responsible for any injuries or damages caused thereby, except to the extent caused by the acts or omissions of KHLP and/or its agents.
Custody and Title. Possession, title, and risk of loss to the NGL's shall pass from Seller to Buyer and vest in Buyer at the inlet flange connection at the Delivery Point. Upon receipt of the NGL's. Buyer will be deemed to have exclusive ownership and control of said NGL's and shall be responsible for any injuries or damages caused thereby, except to the extent such injuries or damages are caused by the actions or omissions of Seller and/or its agents.
Custody and Title. R▇▇▇▇▇▇ will not have custody of or title to any Client assets. All Client assets will be held by the trustee or custodian designated by the Client. The Client will notify R▇▇▇▇▇▇ prior to any change to such trustee or custodian.
Custody and Title. RIIS will not have custody of or title to any assets of the Funds. All assets of the Funds will be held by the trustee or custodian designated by the Client, with the exception of certain Collateral to support derivative positions, as permitted by the Investment Company Act. The Client will notify RIIS prior to any change to such trustee or custodian.
Custody and Title