Title to Timber Sample Clauses

Title to Timber. During the period of this contract, and any extension, PURCHASER shall have the right to cut and remove the timber. Such right shall be conditioned upon PURCHASER complying with the provisions of this contract. The ownership of and title to the timber shall pass to PURCHASER as the timber is paid for and removed from the timber sale area. Any right of PURCHASER to cut and remove the timber shall expire and end at the time this contract, or any extension, terminates. All rights and interests of PURCHASER in and to the timber and logs remaining on the timber sale area shall, at that time, automatically revert to and revest in STATE, without compensation to PURCHASER.

Title to Timber. Title to timber cut under this Contract shall remain with the Seller until payment as required in this Contract is received by the Seller or written authorization to cut or remove the timber or forest products has been given by the Seller. The Seller shall bear the risk of loss or damage to the timber until payment to the Seller for the timber or authorization to cut or remove the Timber has been granted by the Seller, or damage is caused by the Purchaser or the Purchaser's agents or employees.

Title to Timber. Title to the timber herein sold shall remain with Seller until payment in full therefor has been made.

Title to Timber. During the period of this Contract, and any extension, PURCHASER shall have the right to cut and remove the timber. Such right shall be conditioned upon PURCHASER complying with the provisions of this Contract. The ownership of and title to the timber shall pass to PURCHASER as the timber is paid for following removal from the Timber Sale Area. Any right of PURCHASER to cut and remove the timber shall expire and end at the time this Contract, or any extension, terminates. All rights and interests of PURCHASER in and to timber and logs remaining on the Timber Sale Area shall, at that time, automatically revert to and revest in the U.S. Forest Service, without compensation to PURCHASER. Section 1040. Quality and Quantity of Timber. STATE makes no guarantee or warranty to PURCHASER as to the quality or quantity of the Designated Timber. PURCHASER shall be liable to STATE for the Total Purchase Price set forth in Section 1710, "Purchase Price," or 1740, "Log Prices," even if the quantity or quality of Designated Timber actually cut, removed, or designated for taking is more or less than that estimated by STATE to be available for harvesting on the Timber Sale Area. Further, STATE makes no representation, warranty, or guarantee of the accuracy of any information either provided by STATE or made available by STATE under the Public Records Law with respect to this Contract. PURCHASER agrees to bear exclusive responsibility for, and to accept all risks associated with, the actual conditions on the Areas of Operations and PURCHASER's computation of its bid for this Contract.

Title to Timber. (a) The title to all marked and/or designated timber stumpage shall remain with the University until it has been paid for by Buyer as herein provided. (b) The title to all standing or felled timber, which Buyer has paid for and which remains on University lands after the termination or expiration of this contract, shall revert to the University.

Title to Timber. Title to timber cut under this Contract shall remain with the Seller until payment as required in this Contract is received by the Seller or written authorization to cut or remove the timber or forest products has been given by the Seller. The Seller shall bear the risk of loss or damage to the timber until payment to the Seller for the timber or authorization to cut or remove the Timber has been granted by the Seller, or damage is caused by the Purchaser or the Purchaser's agents or employees. PAYMENT; PAYMENT SCHEDULE (Attached). a. The Purchaser agrees to pay payments for timber removed under this Contract in the amount and in accordance with the payment schedule and its conditions which is attached to and made a part of this Contract. Payment shall be in the form acceptable to the Seller. b. The volume of timber indicated in this Contract or other appraisal or cruise documents of the Seller are estimates. The Seller gives no warranty or guarantee respecting the quantity, quality or volume of marked or otherwise designated timber or forest products on the sale area.

Title to Timber. During the period of this Contract, and any extension, PURCHASER shall have the obligation to cut and remove the Designated Timber in the Timber Sales Area in compliance with all terms and conditions of this Contract. The ownership of and title to the Designated Timber shall pass to PURCHASER after the Designated Timber is paid for following removal from the Timber Sale Area. Any right or obligation of PURCHASER to cut and remove the Designated Timber shall expire and end at the time this Contract, or any extension, terminates, or when the Contract is terminated, whichever is earlier. All rights and interests of PURCHASER in and to Reserved Timber and logs remaining on the Timber Sale Area shall, at that time, remain with the STATE, without compensation to PURCHASER.

Title to Timber. Title to timber cut under this Contract shall remain in the Seller until the timber or forest products have been removed from the Seller’s property in full accordance with all terms, conditions, and stipulations in this contract. The Seller shall not compensate the purchaser in any manner for the damage or loss to standing or decked timber. In the event of catastrophic damage occurring on a sale and less than 2/3 of the sale area has been harvested, the purchaser may exercise the option of withdrawing from the contract without penalty within 60 days of being notified of the event. Catastrophic damage will be determined by a systematic random survey of yet to be harvested areas within the contract. Catastrophic damage shall be defined as: 1/3 of the plots having greater than 50% of the merchantable trees damaged. The termination option for the purchaser shall not be applicable during contract extensions.