Supply Item definition
Examples of Supply Item in a sentence
For purposes of this Agreement, each individual Supply Item and the SCADA System shall be deemed “Delivered” and Supplier shall have satisfied its delivery arrangements with respect thereto, when Supplier makes available such Supply Item and SCADA System at its Designated Delivery Location for pick up by Purchaser, provided however, that Purchaser may not take custody and control of the said Supply Item until the applicable Progress Payment has been made by Purchaser and received by Supplier.
Until any Supply Item has been Delivered, Supplier shall take reasonable steps to protect each Supply Item against damage, destruction or theft, and shall ensure that all Supplier Insurance covering the Turbines remains in full force and effect prior to Delivery.
Title to any Supply Item shall transfer to the Purchaser upon (i) the Delivery of such Supply Item to its Designated Delivery Location and (ii) Purchaser’s payment of and Supplier’s receipt of, the applicable Progress Payment.
Purchaser shall be responsible for any reasonable costs incurred by Supplier due to Purchaser’s delay in promptly picking up and transporting off site any Supply Item upon its Delivery within said five (5) day period.
Purchaser shall be responsible for all loading and shipment of the Supply Items and SCADA System from their respective Designated Delivery Locations to the Project Site and shall pay for all costs and expenses incurred by Purchaser related thereto, including the costs of maintaining insurance on such Supply Item and SCADA System during shipment of such Supply Item and SCADA System from its respective Designated Delivery Location to the Project Site.
Supplier shall bear the risk of loss and damage with respect to any Supply Item (including each individual Major Turbine Component) until Delivery of such Supply Item to its Designated Delivery Location.
Upon the Delivery of any Supply Item to its Designated Delivery Location, care, custody and control of, and risk of loss or damage to, such Supply Item shall thereupon transfer to the Purchaser.
Supplier shall be responsible for (a) all federal and state income taxes payable by Supplier in connection with its net income, (b) all taxes in connection with the import of any Supply Item into the United States, and (c) any business license or fees arising in connection with Supplier’s business in any State.
Upon Supplier’s Delivery of any Supply Item to its respective Designated Delivery Location, Purchaser shall, unless otherwise agreed by the Parties, within five (5) days after notice from Supplier and at such date and time set forth in Supplier’s notice, pick up the Supply Item at its Designated Delivery Location, and ship, install or store such Supply Item at the Project Site.
If the Supply Item is a kind of Sale Equipment not ordinarily stocked by TEN then notwithstanding any other term of the Supply Agreement, TEN may at its sole and absolute discretion require the Customer to pay all or a portion of the Purchase Price for the Supply Item by non-refundable Pre-Payment.