Common use of SELLER’S PROPERTY Clause in Contracts

SELLER’S PROPERTY. a) Seller may provide to Buyer certain items of tangible and intangible property, including but not limited to, tools, equipment, machinery, materials, drawings, specifications, computer software, documents, information, data, or other intellectual property or proprietary information, which Buyer may furnish for the sole purpose of assisting Seller in performing its obligations under this Agreement or under a purchase order, or as the parties may otherwise agree in writing (“Seller’s Property”). Any such Property shall remain Seller’s personal property. Seller shall xxxx or otherwise identify any of its property delivered to Buyer with such identifying labels, as Seller shall elect. Buyer shall use Seller’s Property solely for the purpose of fulfilling its obligations under this Agreement. Buyer shall exercise the same care in maintaining, storing and using Seller’s Property as it exercises with its own property, but in no event shall Buyer exercise less than reasonable care with respect to any of Seller’s Property in Buyer’s possession, reasonable wear and tear excepted. Buyer shall not commingle Seller’s Property with Buyer’s own property or that of a third party. Buyer shall insure Seller’s Property in an amount equal to the replacement cost, and name Seller as an additional insured under such insurance policy with any losses payable to Seller. Buyer shall not substitute any property for Seller’s Property and shall not use Seller’s Property except in fulfilling its obligations under this Agreement.

SELLER’S PROPERTY. (a) Seller may provide to Buyer certain items of tangible and intangible property, including but not limited to, tools, equipment, machinery, materials, drawings, specifications, computer software, documents, information, data, or other intellectual property or proprietary information, which Buyer may furnish for the sole purpose of assisting Seller in performing its obligations under this Agreement or under a purchase order, or as the parties may otherwise agree in writing (“Seller’s Property”). Any such Property shall remain Seller’s personal property. Seller shall xxxx or otherwise identify any of its property delivered to Buyer with such identifying labels, as Seller shall elect. Buyer shall use Seller’s Property solely for the purpose of fulfilling its obligations under this Agreement. Buyer shall exercise the same care in maintaining, storing and using Seller’s Property as it exercises with its own property, but in no event shall Buyer exercise less than reasonable care with respect to any of Seller’s Property in Buyer’s possession, reasonable wear and tear excepted. Buyer shall not commingle Seller’s Property with Buyer’s own property or that of a third party. Buyer shall insure Seller’s Property in an amount equal to the replacement cost, and name Seller as an additional insured under such insurance policy with any losses payable to Seller. Buyer shall not substitute any property for Seller’s Property and shall not use Seller’s Property except in fulfilling its obligations under this Agreement.

SELLER’S PROPERTY. a) Seller may provide to Buyer certain items of tangible and intangible property, including but not limited to, tools, equipment, machinery, materials, drawings, specifications, computer software, documents, information, data, or other intellectual property or proprietary information, which Buyer may furnish for the sole purpose of assisting Seller in performing its obligations under this Agreement or under a purchase order, or as the parties may otherwise agree in writing (“Seller’s Property”). Any such Property shall remain Seller’s personal property. Seller shall xxxx mark or otherwise identify any of its property delivered to Buyer with such identifying labels, as Seller shall elect. Buyer shall use Seller’s Property solely for the purpose of fulfilling its obligations under this Agreement. Buyer shall exercise the same care in maintaining, storing and using Seller’s Property as it exercises with its own property, but in no event shall Buyer exercise less than reasonable care with respect to any of Seller’s Property in Buyer’s possession, reasonable wear and tear excepted. Buyer shall not commingle Seller’s Property with BuyerXxxxx’s own property or that of a third party. Buyer shall insure Seller’s Property in an amount equal to the replacement cost, and name Seller as an additional insured under such insurance policy with any losses payable to Seller. Buyer shall not substitute any property for Seller’s Property and shall not use Seller’s Property except in fulfilling its obligations under this Agreement.