OUTRIGHT PURCHASE Clause Samples
The OUTRIGHT PURCHASE clause defines the terms under which one party fully acquires ownership of specified goods, assets, or property from another party. Typically, this clause outlines the purchase price, payment terms, and the point at which title and risk transfer to the buyer. For example, it may specify that upon payment, the buyer immediately becomes the legal owner and assumes all associated risks and benefits. The core function of this clause is to ensure a clear and unambiguous transfer of ownership, thereby reducing the potential for disputes over title or responsibility.
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OUTRIGHT PURCHASE. The Supplier shall enable Contracting Authorities to purchase Devices outright.
OUTRIGHT PURCHASE. 3.1 All Commercial Modules come with a license for 25 years when bought using the “outright purchase” option
3.2 All Commercial Modules bought under this option come with the ability to upgrade the Commercial Module to any newer version for free for the first 12 months after purchase.
3.2.1 After 12 months a “Yearly Upgrade Fee” will need to be purchased to have access to upgrade the module for another 12 months.
3.2.2 For all Commercial Modules with a current MSRP price of $100.00 or less will carry a yearly upgrade fee is 33% of the current MSRP price. For all Commercial Modules over $100.00 the yearly upgrade fee is 18% of the current MSRP Commercial Module price. For clarity, the MSRP price is subject to change and the yearly upgrade fee will always be based on the most current MSRP.
OUTRIGHT PURCHASE. The Contractor shall be authorized to sell vehicles on an outright purchase basis only. No financing or installment payments are a part of this agreement. Title shall transfer to the ordering entity at the time of acceptance, or when the vehicle(s) is accepted at the user's site.
OUTRIGHT PURCHASE. 3.1 All Commercial modules come with a license for 25 years when bought using the “outright purchase” option
3.2 All Commercial modules bought under this option come with the ability to upgrade the module to any newer version for free for the first 12 months after purchase.
3.2.1 After 12 months a “Yearly Upgrade Fee” will need to be purchased to have access to upgrade the module for another 12 months.
3.2.2 For all modules under $100.00 the yearly upgrade fee is 33% of the module price. For all modules over $100.00 the yearly upgrade fee is 18% of the module price.
OUTRIGHT PURCHASE. 12.1 If you have agreed with Digiquip in writing that any of the Equipment will be purchased by you then the ownership of those particular items of the Equipment will not pass to you unless Digiquip has received full payment of the Agreed Price for that Equipment. The “Agreed Price” means the price agreed between you and Digiquip in writing for those particular items of the Equipment which you have agreed to purchase outright.