Loan for use Clause Samples
A 'Loan for use' clause defines the terms under which one party temporarily lends an item or property to another party for their use, without transferring ownership. Typically, this clause specifies the duration of the loan, the condition in which the item must be maintained, and the obligations for returning the item at the end of the agreed period. Its core function is to establish clear expectations and responsibilities for both parties, thereby preventing disputes over the use and return of the borrowed property.
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Loan for use. 5.1 The Sponsor grants on loan free use to the Institution, which accepts pursuant to and for the purposes of articles 1803 and following of the Italian Civil Code, the Equipment better described below, together with the relevant material for use (hereinafter cumulatively “the Equipment”) (description of the asset and corresponding value in Euros). Ownership of the Equipment, as per law, is not transferred to the Institution. The effects of this loan will start from the date of delivery of the Equipment and cease at the end of the clinical investigation, when the Equipment must be returned to the Sponsor at no additional cost to the Institution. The Parties also agree that any additional Equipment deemed necessary for conducting the study during the clinical investigation, if its characteristics and conditions are met, will be granted on loan free of charge in accordance with the discipline set out in this Agreement. The Institution and the Sponsor will proceed with a specific agreement or with an addendum/amendment to the Contract, relating to the loan, if the Equipment is provided after the conclusion of this Agreement.
5.2 (Where applicable) It is required that the Equipment supplied meets the following requirements: - physical encryption of hard disks or, if not possible, predisposition of the device for remote blocking and logical encryption of files; - installation of active-licensed antivirus; - access to the Equipment via password authentication; - operating system with active support for updates/patches. The Equipment must be accompanied by a declaration of compliance with European regulations and directives. The Equipment will be subjected to acceptance testing by the technicians appointed by the Institution, in the presence of a delegate of the Sponsor, by prior agreements, for the verifications of correct installation and functionality and compliance with current legislation. At the time of delivery of the equipment supplied on loan for use by the Sponsor to the Institution, appropriate documentation is drawn up attesting the delivery.
5.3 The Sponsor assumes responsibility for the transport and installation of the Equipment and undertakes to provide, at its own expense, the technical assistance necessary for their operation as well as any consumables for their use, at no cost to the Institution.
5.4 In accordance with the provisions of the Technical Manual of the Equipment, the Sponsor will carry out, at his own expense, in collaboration with ...
Loan for use. (where applicable)
5.1. The Sponsor grants on gratuitous loan to the Entity, which accepts pursuant to and for the purposes of articles 1803 et seq. of the Italian Civil Code, the Instruments described below, together with the relevant material for use (hereinafter cumulatively the “Instrument”) ________ (description of the asset and corresponding value in Euro). The ownership of the Instrument, as by law, is not transferred to the Entity. The effects of this loan shall commence from the date of delivery of the Instruments and shall cease at the end of the Trial, when the Instruments shall be returned to the Sponsor at no cost to the Entity. The Parties also agree that any additional Instruments deemed necessary for the conduct of the study during the course of the Trial, should the characteristics and conditions thereof be met, shall be granted on gratuitous loan for use in accordance with the provisions of this Agreement. The Entity and the Sponsor shall proceed with a specific loan agreement, or with an addendum/amendment to the Agreement, if the Instruments are provided after the conclusion of the present Agreement.
5.2. It is required that the Instruments supplied have such characteristics, and in particular are configured to comply with the following requirements: • physical encryption of hard disks or, where this is not possible, provision of the device for • remote locking and logical encryption of files; • installation of antivirus with an active licence; • access to the Instruments via password authentication; • operating system with active support for updates/patches. The Instruments in question must be provided with a declaration of conformity with European standards and directives. The Instrument(s) in question will be subjected to acceptance testing if the instrument has direct action on the patient or on other machinery present in the Entity by the technicians appointed by the Entity, in the presence of a delegate of the Sponsor, subject to prior agreement, for verification of correct installation and functionality and compliance with current regulations. At the time of delivery of the materials supplied on loan for use by the Sponsor to the Entity, suitable documentation shall be drawn up to certify the delivery.
5.3. The Sponsor shall be responsible for the transport and installation of the Instruments and undertakes to provide, at its own expense, the technical assistance necessary for its operation as well as any consumables for its use,...
Loan for use. The Parties acknowledge that no assets and/or equipment will be granted to the Institution on loan for use by the Sponsor.