Stored Grain Clause Samples

Stored Grain. 10.1 The Client acknowledges that when the Company receives the Client Grain, it becomes Stored Grain and the Client maintains a Interest in the Stored Grain. 10.2 Except if the Company suffers an Insolvency Event, the Client does not have the right to nominate any particular parcel of Stored Grain as being owned by the Client. 10.3 While the Company has possession of the Client’s Grain: (a) the relationship between the Company and the Client in respect of the possession of the Grain is one of bailment only; (b) that relationship will continue to exist despite the Grain losing its identity by being part of ▇▇▇▇▇▇ ▇▇▇▇▇, or despite the inability of the Company to redeliver to the Client Grain the subject of the bailment; and (c) unless specifically agreed otherwise, the Company as bailee may manage, use, deal with or otherwise control the Grain in its possession in any manner not inconsistent with the Outturn Entitlement. 10.4 Where the Company suffers an Insolvency Event the Client will be entitled, upon reasonable notice and subject to the provisions of this Agreement relating to Stored Grain, to re-take possession of the Client Grain from the sites at which the Outturn Entitlement is located.