RETENTION OF TITLE AND SECURITY Sample Clauses

RETENTION OF TITLE AND SECURITY. Except as otherwise provided herein, the Seller's title to the Property and any substitutions hereof shall remain in the Seller until the Purchaser receives delivery of the Seller's deed. In addition thereto, the Purchaser hereby grants to the Seller a security interest in all condemnation awards and insurance proceeds relating to the Property and all of the rights, titles, and interests in the Personal Property conveyed by this contract and subsequently acquired by Purchaser in substitution thereof as security for the performance of the Purchaser's obligations herein, and the Purchaser hereby assigns to the Seller all rents and security deposits derived from or relating to the Property and, except for the initial partial month's and last month's rent, covenants not to collect any rents which are attributable to more than one month of the unexpired lease term. The Purchaser agrees to deliver to the Seller such further assurances and UCC financing statements and statements of continuation which the Seller requests to further evidence, perfect, or confirm its rights under this agreement. The Purchaser agrees with the Seller that it shall comply with the terms of all leases of the Property, and shall, upon written request, promptly notify the Seller of any alleged defaults therein by the Purchaser or any tenant. After all sums evidenced by this contract due to the Seller have been paid, the Seller shall deliver its fulfillment deed and bill of sale to the Purchaser in the form and subject to the exceptions agreed to herein. In the event any escrow account is established for this contract, said deed and bill of sale shall be executed and placed with the escrow agent promptly following the opening of said account with instructions to deliver them to the Purchaser when entitled thereto.
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RETENTION OF TITLE AND SECURITY. 7.1 All Goods delivered will remain the exclusive property of Zuidberg until such time as the Client has complied with all of its obligations arising from or in connection with the Agreement or Agreements, including claims relating to penalties, interest and costs. Until that time the Client undertakes to store the Goods delivered by Zuidberg separate from other goods and clearly marked as Zuidberg property and to take out and maintain sufficient insurance.
Sample 1
RETENTION OF TITLE AND SECURITY. 9.1 XSPlatforms retains the ownership of all goods delivered and yet to be delivered to Purchaser, until the purchase price is completely paid for all these goods. Furthermore, the retained ownership applies for the claims which XSPlatforms could acquire against Purchaser due to Purchaser's failure to observe one or several of its other obligations vis-à-vis XSPlatforms, including collection costs, interests and fees. As long as the property of the delivered goods has not transferred to Purchaser, Purchaser may not use, consume, sell, pledge or grant any other right to a third party, other than within the normal business operations of Purchaser. Delivered goods that have become the property of Purchaser through payment and other goods that are at XSPlatforms's disposal, will be applied as security for the claims that XSPlatforms might have against Purchaser by whatever virtue (reserved right of pledge without ownership). On XSPlatforms's first request, Purchaser undertakes to cooperate to establish of a right of pledge on claims that Purchaser acquires or will acquire by virtue of onwards supply of goods to its own purchasers. Purchaser hereby authorises XSPlatforms to enter Purchaser’s premises to take possession of the goods to which the retention of title applies.
Sample 1
RETENTION OF TITLE AND SECURITY. 11.1. The Customer acknowledges that the purpose of this clause is to protect Westland if the Customer commits or suffers an act of insolvency or default in payment. Westland retains title to the Goods, pending receipt of payment, to the maximum extent permitted by law. Notwithstanding such retention of title until receipt of payment in full, the Customer will be responsible for risk of loss or damage to the Goods according to the relevant shipping terms. Westland reserves all rights and remedies it may have under applicable law to recover the Goods sold and delivered to the Customer if the Customer does not pay for such Goods by the payment due date. This includes the right to divert Goods on the water, or to enter upon the Customer’s premises and remove such Goods. Such rights are cumulative and not in substitution for any other rights that Westland may have in the circumstances.
Sample 1
RETENTION OF TITLE AND SECURITY. 6.1. Notwithstanding delivery of the Goods to the Purchaser, all right title and interest in the Goods remains with Kincrome until the Purchaser has made full payment to Kincrome of all and any amounts due and payable to Kincrome by the Purchaser ("Outstanding Amount").
Sample 1

Related to RETENTION OF TITLE AND SECURITY

  • Retention of Title Supplied Goods shall remain Seller’s property until fulfillment by Customer of its payment obligations as described above. As such:

  • Transfer of Title and Risk (a) The parties acknowledge that despite the receipt by the Merchant pursuant to this Agreement, title and risk in respect of the Produce shall only pass in accordance with subclause 2.3(b).

  • Condition of Title 5.1 If, prior to Closing (as hereinafter defined), a date-down to the Title Commitment discloses any new Unpermitted Exceptions which, in the aggregate, do not exceed $25,000 (each, a "Minor Unpermitted Exception"), Seller shall, at Seller's expense, bond over, cure and/or have such Minor Unpermitted Exceptions removed from the Title Commitment or have the Title Insurer commit to insure against loss or damage that may be occasioned by such Minor Unpermitted Exceptions. Notwithstanding the foregoing, if such date down to the Title Commitment discloses any new Unpermitted Exceptions which, in the aggregate, equal or exceed $25,000, Seller shall have the right, but not the obligation, to bond over, cure and/or have such exceptions removed from the Title Commitment or to have the Title Insurer commit to insure against loss or damage that may be occasioned by such Unpermitted Exceptions. If Seller fails to bond over, cure or have any Unpermitted Exception removed or have the Title Insurer commit to insure as specified above within five (5) business days from the date of the date down to the Title Commitment, Purchaser may terminate this Agreement upon written notice to Seller within three (3) days after the expiration of such five (5) business day period; provided, however, and notwithstanding anything contained herein to the contrary, if the Unpermitted Exception which gives rise to Purchaser's right to terminate was recorded against the Property as a result of the affirmative action of Seller (and not by any unrelated third party) or if Seller is able to bond over, cure or remove a Minor Unpermitted Exception for a cost not to exceed $25,000 or the Title Insurer is willing to insure over a Minor Unpermitted Exception for a cost not to exceed $25,000 in accordance with the terms hereof and Seller fails to expend such funds in either case, then Purchaser shall have the additional rights contained in Paragraph 14 herein. Absent notice from Purchaser to Seller in accordance with the preceding sentence, Purchaser shall be deemed to have elected to take title subject to said Unpermitted Exception, without any reduction in or setoff against the Purchase Price as a result thereof. If Purchaser terminates this Agreement in accordance with the terms of this Paragraph 5.1, this Agreement shall terminate without further action of the parties and all Earnest Money theretofore deposixxx xxxo the escrow by Purchaser, together with any interest accrued thereon, shall be returned to Purchaser, and neither party shall have any further liability to the other, except for those covenants and obligations that specifically survive termination of this Agreement.

  • Reservation of Title STÜKEN reserves the right to the property for the delivered object until all payments under the contract of delivery have been made in full. The Customer may neither pledge nor assign the delivered object for security. He must inform XXXXXX immediately in the case of pledges as well as seizure or any other disposals by third parties. Should the Customer breach the terms of the written contract, including delinquent payment, STÜKEN reserves the right to reclaim the goods and the Customer agrees to return said goods to STÜKEN. STÜKEN's assertion of the reservation of title as well as the pledging of the delivered object shall not be deemed as a withdrawal from the contract. Further processing or rework of STÜKEN goods by the Customer may only be performed subsequent to receipt of written authorization from STÜKEN. Should the STÜKEN goods be further assembled or combined with other product/components which are not the property of STÜKEN, Customer shall grant to STÜKEN partial ownership of the created product in relation to the value of the STÜKEN goods to the created product. The Customer is entitled to sell the delivered goods - also after further processing - in usual and proper business transactions. However, he undertakes to reserve the right to ownership until his purchase price claim has been paid in full. Independent of this the Customer hereby assigns already the accounts receivable against his buyer to which he is entitled from the resale with all secondary rights to STÜKEN. In the event of the resale after processing the assignment shall apply as in the amount of the sale value of the reserved goods of STÜKEN. The buyer is entitled to collect the assigned accounts receivable from the third party buyer, undertakes however to remit these to STÜKEN immediately. STÜKEN reserves the right to also collect the account receivable directly from the third party buyer, who is to be named for this purpose. STÜKEN shall insofar release the securities held by him as their value shall exceed the accounts receivable to be secured by more than a total of 20 %.

  • Evidence of Title Evidence that title to a REO is held by the Trustee shall be submitted by the Servicer to the Master Servicer and, if applicable, to the Primary Mortgage Insurer and/or the Pool Insurer, within ten Business Days after marketable title to such REO has been acquired.

  • PARTICULARS OF TITLE Status of issuance of strata title has been confirmed at the time of issuance of this Proclamation of Sale. STRATA TITLE/LOT NO: Geran Mukim 9285/M1/17/55 Xxx 00000, Xxxxx xx Xxxx, Xxxxxxxx xx Xxxxx Xxxxxx, Xxxxx of Wilayah Persekutuan Kuala Lumpur FLOOR AREA: (Unit) Approximately 198.44 square metres (2,136 square feet) VENDOR (DEVELOPER): Skillcet Capital Sdn Bhd PROPRIETOR: Xxx Xxxx Properties Sdn Bhd ENCUMBRANCE: Assigned to HSBC Amanah Malaysia Berhad TENURE: Freehold LOCATION AND DESCRIPTION OF THE PROPERTY: The subject property is a three (3) bedroom condominium unit identified as Developer’s Parcel No: 16-03, Type: C, Storey Xx. 00xx Xxxxx, Xxxxxxxx Xx. Xxxxx Xxxxxxxx, Xxxxx 0 together with Accessory Parcel No. Car Park Xx. 00 & 00, Xxxxxx Xx. Xxxxx 0 bearing postal address of Xxxx Xx. 00-00, Xxxxxxxx Xxxxx 3, Xxxxx Xxxxx 0, Xxxx Xxxxx, 00000 Xxxxx Xxxxxx. RESERVE PRICE: The subject property will be sold on an “as is where is basis” and subject to a reserve price of RM656,100.00 (RINGGIT MALAYSIA SIX HUNDRED FIFTY SIX THOUSAND AND ONE HUNDRED ONLY) and subject to the Conditions of Sale and by way of an Assignment from the above Assignee subject to the approval being obtained by the Purchaser from the relevant authorities if any, including all terms, conditions, stipulations and covenants which were and may be imposed by the relevant authorities. Subject to the terms and conditions stated in the Conditions of Sale, any arrears of quit rent, assessments, service/maintenance charges and any other outgoings which may be lawfully due to the relevant authorities up to the date of successful sale of the subject property shall be paid out of the purchase money. All other fees, costs and charges relating to the transfer and assignment of the property shall be borne solely by the successful Purchaser. All intending bidders are required to deposit 10% of the fixed reserve price for the said property by Bank Draft or Cashier’s Order only in favour of HSBC AMANAH MALAYSIA BERHAD on the day of auction sale and the balance of the purchase money shall be paid by the Purchaser within ninety (90) days from the date of auction sale to HSBC AMANAH MALAYSIA BERHAD, failing which the deposit shall be forfeited by the Assignee/Bank at its absolute discretion. Online bidders are further subject to the Terms and Conditions on xxxx.xxxxxxxx.xxx.xx.

  • PASSING OF TITLE (A) Upon the Auctioneer's call of "SOLD", title of the offered lot will pass to the highest Bidder acknowledged by the Auctioneer, subject to the conditions set forth here, and such Bidder thereupon (a) assumes full risk and responsibility therefor and neither the Seller no Xxxxxxx- Xxxxxxx or its agents shall be responsible for the loss of, or any damage to any article due to the theft, fire, breakage or any cause whatsoever, however occasioned, (b) will sign a confirmation of purchase thereof, and (c) will thereupon pay the full purchase thereof. All property must be removed form our premises by the Purchaser at their expense no later than 72 hours following the completion of the sale, and if it is not so removed, a handling charge of 10% (ten percent) of the purchase price will be payable by the Purchaser per month, until its removed, with minimum of 20% (TWENTY PERCENT) for any property not so removed within 60 days after the sale. After 90 days, Xxxxxxx-Xxxxxxx may dispose of the property. PURCHASER HEREBY WAIVES ALL REQUIREMENTS OF NOTICE, ADVERTISEMENT AND DISPOSITION OF PROCEEDS REQUIRED BY LAW, AND RELEASES XXXXXXX-XXXXXXX FROM ANY LIABILITIES WHATSOEVER IN CONNECTION WITH SUCH DISPOSAL.

  • Passage of Title 9.7.1 The ownership and title to the Goods and any part thereof shall fully pass to ISR free and clear of all security interests, liens, attachment, encumbrances and any other rights or claims of any kind of any third party, upon the date of issuance by ISR of the Final Acceptance Certificate for each of the Goods at ISR Site. The passing of title to ISR and the vesting of ownership rights shall be without prejudice to any right that may accrue to ISR under this Agreement.

  • DELIVERY, TITLE AND RISK OF LOSS Unless otherwise specified on the EDDYFI quotation, delivery is FCA (Manufacturing Site). In any case, delivery and risk of loss is in accordance with INCOTERMS 2010. Title to products shall pass to the Customer upon full payment of the invoice(s). In the absence of specific instructions, goods will be shipped via the carrier EDDYFI deems most practical. No claim for error in shipment will be considered unless made within ten (10) days of Customer’s receipt of goods.

  • SEPARATE DOCUMENT OF TITLE In the event that the separate document of title to the Property has been or is issued whether prior to, on or after the auction sale.

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