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

Bailment of Xxxxx’s Property. All Tooling and Materials and all other materials and items (whether or not such materials are in any way modified, altered or processed) that Buyer or its customer furnishes, either directly or indirectly, to Seller or which Buyer or its customer buys from or gives reimbursement (including via amortization in the form of a per unit charge included in the price of the Goods) to Seller, in whole or in part, together with all Buyer’s Information (as defined below), and all refurbishments or replacements of any of the foregoing items, in each case whether in the custody or control of Seller or Seller’s suppliers, subcontractors or agents (collectively, "Buyer's Property") are, will be and will remain the property of Buyer and are and will 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. Seller authorizes Buyer to file a UCC-1 financing statement with respect to Xxxxx’s Property located in the United States of America or its territories or similar document with respect to all other Buyer’s Property, in each case with the appropriate filing authority to give notice of Xxxxx's ownership interest in Buyer’s Property. Failure to file a financing statement or similar document will not alter or amend Buyer’s ownership rights in Buyer’s Property. Seller will provide Buyer, upon Xxxxx’s request, with a written inventory or other accounting of all Buyer’s Property. In any disagreement involving ownership of Tooling and Materials, there is a rebuttable presumption that such Tooling and Materials are Buyer’s Property. Xxxxx and Xxxxxx will work to resolve the disagreement in good faith but Xxxxx will nonetheless have the right to take immediate possession of such Tooling and Materials under Section 18.4. If it is determined that the Tooling and Materials are not Buyer’s Property, any amounts owed to Seller (such amounts to be determined in accordance with Section 17 above) will be paid promptly upon resolution of the disagreement.

Bailment of Xxxxx’s Property. All Tooling and Materials and all other materials and items (whether or not such materials are in any way modified, altered or processed) that Buyer or its customer Customer furnishes, either directly or indirectly, to Seller or which Buyer or its customer Customer buys from or gives full or partial reimbursement of the cost (including via amortization in the form of a per unit charge included in the price of the Goods) to Seller, in whole or in part, together with all Buyer’s Information (as defined below), and all refurbishments refurbishments, replacements, additions, attachments, accessories, or replacements repairs of any of the foregoing items, in each case case, whether in the custody or control of Seller or Seller’s suppliers, subcontractors or agents (collectively, "“Buyer's ’s Property"”) are, will be and will remain the property of Buyer and are and will 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 ’s Property. When permitted by lawLaw, Seller waives any lien or other rights that Seller might otherwise have on or in any of Buyer's ’s Property for work performed on, or utilizing, such property or otherwise. Seller authorizes Buyer to file a UCC-1 financing statement with respect to XxxxxBuyer’s Property located in the United States of America or its territories or similar document under applicable Law with respect to all other Buyer’s Property, in each case case, with the appropriate filing authority to give notice of Xxxxx's Buyer’s ownership interest in of Buyer’s Property. Failure to file a financing statement or similar document will not alter or amend Buyer’s ownership rights in Buyer’s Property. Seller will provide Buyer, upon Xxxxx’s request, with a written inventory or other accounting of all Buyer’s Property. In any disagreement involving ownership of Tooling and Materials, there is a rebuttable presumption that such Tooling and Materials are Buyer’s Property. Xxxxx and Xxxxxx will work to resolve the disagreement in good faith but Xxxxx will nonetheless have the right to take immediate possession of such Tooling and Materials under Section 18.4. If it is determined that the Tooling and Materials are not Buyer’s Property, any amounts owed to Seller (such amounts to be determined in accordance with Section 17 above) will be paid promptly upon resolution of the disagreement.