No Conditional Sales Agreements Clause Samples
The "No Conditional Sales Agreements" clause prohibits the parties from entering into sales contracts where ownership of goods is contingent upon the fulfillment of certain conditions, such as full payment. In practice, this means that all sales must be completed outright, with title and ownership transferring immediately upon sale, rather than being delayed until specific conditions are met. This clause ensures clear and immediate transfer of ownership, reducing the risk of disputes over title and simplifying the transaction process.
No Conditional Sales Agreements. Contractor shall not make, cause to be made, or permit, any contract for materials or equipment of any kind or nature whatsoever to be used in connection with the Work on a conditional sales or any other basis whereby the title to the equipment or materials does not pass to the Owner upon delivery to the Site or incorporation in the Project, free and clear of any lien, financing arrangement, or other impediment to title.
No Conditional Sales Agreements. Design-Builder shall not make, cause to be made, or permit, any contract for materials or equipment of any kind or nature whatsoever to be used in connection with the Work on a conditional sales or any other basis whereby the title to the equipment or materials does not pass to the Owner upon delivery to the Site or incorporation in the Project, free and clear of any lien, financing arrangement, or other impediment to title.
No Conditional Sales Agreements. CM/GC shall not make, cause to be made, or permit, any contract for materials or equipment of any kind or nature whatsoever to be used in connection with the Work on a conditional sales or any other basis whereby the title to the equipment or materials does not pass to the Owner upon delivery to the Site or incorporation in the Project, free and clear of any lien, financing arrangement, or other impediment to title.
No Conditional Sales Agreements. CMR shall not make, cause to be made, or permit, any contract for materials or equipment of any kind or nature whatsoever to be used in connection with the Work on a conditional sales or any other basis whereby the title to the equipment or materials does not pass to the Board upon delivery to the Site or incorporation in the Project, free and clear of any lien, financing arrangement, or other impediment to title.
No Conditional Sales Agreements. Construction Manager shall not make or cause to be made, or permit, any contract for materials or equipment of any kind or nature whatsoever to be used in connection with the Work on a conditional sales or any other basis whereby the title to the equipment or materials does not pass to the Owner upon payment by the Owner for incorporation in the Project, free and clear of any lien, financing arrangement, or other impediment to title.