Common use of Bailment of Xxxxx’s Property Clause in Contracts

Bailment of Xxxxx’s Property. All Tooling and Materials which Buyer furnishes, either directly or indirectly, to Seller or which Buyer buys from, or gives reimbursement to, Seller in whole or in part (collectively, “Buyer’s Property”) will be and remain the property of Buyer and be held by Seller on a bailment basis. Title to all replacement parts, additions, improvements and accessories purchased by Seller will vest in Buyer immediately upon attachment to or incorporation into Buyer’s Property. When permitted by law, Seller waives any lien or other rights that Seller might otherwise have on or in any of Buyer’s Property for work performed on, or utilizing, such property or otherwise.