Common use of Possessory Lien Clause in Contracts

Possessory Lien. Company shall have a possessory lien against Customer tooling and/or molded parts and/or materials as security for the failure of the Customer to pay any balance due the Company for any invoiced tooling, molded parts or specially purchased materials.

Appears in 2 contracts

Sources: Terms and Conditions of Sale, Terms and Conditions of Sale