Risk of Damage Sample Clauses
The 'Risk of Damage' clause defines which party is responsible for loss or damage to goods or property at various stages of a transaction or contract. Typically, it specifies the point at which the risk transfers from the seller to the buyer, such as upon delivery, shipment, or installation. For example, if goods are damaged during shipping, this clause determines whether the seller or buyer bears the loss. Its core function is to allocate risk clearly between parties, preventing disputes and ensuring both sides understand their responsibilities in the event of damage.
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Risk of Damage. Licensee may use the premises at its sole risk. The City shall not be liable to Licensee for any damage whatsoever in the event that Licensee’s use of the premises is impaired or terminated or in the event Licensee’s personal property is damaged or destroyed. Further, Licensee shall, to the fullest extent permitted by law, agree to defend, indemnify, pay on behalf of, and hold harmless the City of Ferndale, its elected and appointed officials, employees and volunteers and others working on behalf of the City of Ferndale against any and all claims, demands, suits, losses, including all costs and reasonable attorney fees, for any damages which may be asserted, claimed or recovered against or from the City of Ferndale which arise out of or is in any way connected or associated with this License Agreement or with Licensee’s (or its guests, customers or invitees) use of the premises.
Risk of Damage. You assume the risks of Damage to any Product that has been delivered to your premises.
Risk of Damage. The Subtenant acknowledges that all risk with respect to the Improvements and contents of the Subleased Premises during the Term will belong to the Subtenant. If during the Term any Improvements on or forming part of the Lands are damaged or destroyed whether in whole or in part by fire or any other cause (in this Article called the “Damaged Improvements”), this Sublease will not be determined and the Subtenant will not be entitled to surrender possession of the Subleased Premises or any part thereof or to any abatement or reduction of the Prepaid Rent.
Risk of Damage. Seller warrants that, at the time of closing or upon the granting of possession, Property will be in substantially the same condition as on the contract date, except for normal wear and tear, and changes made to the condition of the Property pursuant to the written agreement of Purchaser and Seller. If the property is destroyed or substantially damaged prior to closing, Seller shall promptly give notice to the Purchaser and provide Purchaser with information about the disposition of any insurance claim. Purchaser or Seller may terminate this contract within 14 days from receipt of such notice. If neither party terminates the contract, Seller shall restore the Property to substantially the same condition as on the contract date. The date of closing shall be extended to the earlier of 1 year from the original closing date or 7 days from the date of substantial restoration.
Risk of Damage. The product is defective if lacking the agreed characteristics. The product is deemed defective also in cases where the purchaser is delivered other than the ordered product or where the documents necessary for the use of the product in question contain defects. The purchaser can claim improper performance with reference to the defect inherent to the product at the moment the risk of damage passes to the purchaser although the defect in question becomes evident only later. The purchaser can claim the rights also with reference to a defect that has become evident later as result of a breach of Genevo´s obligation. The purchaser is to examine the product, its characteristics and quantity as soon as feasible after the risk of damage to the product passes to the purchaser. The risk of damage passes to the purchaser upon accepting the product in question; the same applies also to cases where the purchaser rejects to accept the goods although having been enabled by Genevo to view and try the product. Damage to the product occurring after the risk of damage has passed to the purchaser does not affect the purchaser´s obligation to pay the purchase price unless the damage occurred as result of a breach of Genevo´s obligation. If one party is delayed in accepting the product, the other party is entitled to reasonably sell the product at the expense of the delayed party and do so following a prior notice and providing the delayed party with an additional reasonable period to accept the product. The same applies also to delays on payment where the product cannot be accepted unless the purchase price is paid.
Risk of Damage. From and after the Execution Date, Section 22.5 of the Lease is hereby deleted in its entirety and replaced with the following:
Risk of Damage. The Client bears the risk of damage as of the moment of takeover of the subject matter of the Agreement.
Risk of Damage. As from the date of this Agreement, the Property sold shall be at the sole risk of the Purchaser as regards loss caused by fire or other accident, act of God or any other happening or event of non-occupation or otherwise.
Risk of Damage. All property on the Leased Premises shall be at the sole risk of Lessee and Lessor shall not be liable to Lessee or any other person for any injury, loss, damage, or inconvenience occasioned by any cause whatsoever to said property.