Common use of Project Materials Clause in Contracts

Project Materials. 6.4.1 [insert name of counter-party] shall maintain a comprehensive inventory of the equipment, software and materials purchased for the Project (“Project Materials”) and ensure the Project Materials are kept in a good and serviceable condition, fair wear and tear excepted. 6.4.2 [insert name of counter-party] shall also bear the risk and cost of all repairs in relation to the Project Materials and ensure that the [insert name of counter-party] PIs and their Project team use the Project Materials with proper care during the Term. 6.4.3 [insert name of counter-party] shall not sell, dispose of, mortgage, pledge, encumber, hire-out, sub-let, part with possession of or otherwise deal in any way with the Project Materials or any part thereof, subject to Clause 6.4.