Common use of Company’s Property Clause in Contracts

Company’s Property. Unless otherwise agreed in writing, all tools, equipment or material of every description furnished to Supplier by Company or specifically paid for by Company and any replacement thereof, or any materials affixed or attached thereto, shall be and remain the property of the Company. Such property (i) shall be clearly marked and identified as property of the Company and shall be safely stored separate and apart from Supplier's property; (ii) shall not be used except in the performance of the services hereunder and Supplier shall not substitute any property for Company's property; (iii) shall be held at Supplier's risk, and kept insured by Supplier at Supplier's expense in an amount equal to the replacement cost with loss payable to Company; and (iv) shall be delivered to Company promptly upon its written request, in which event Supplier shall prepare such property for shipment and shall deliver to Company in the same condition as originally received by Supplier, reasonable wear and tear excepted, all at Supplier's expense.

Company’s Property. Unless otherwise agreed in writing, all tools, equipment or material of every description furnished to Supplier by Company or specifically paid for by Company and any replacement thereof, or any materials affixed or attached thereto, shall be and remain the property of the Company. Such property (i) shall be clearly marked and identified as property of the Company and shall be safely stored separate and apart from Supplier's ’s property; (ii) shall not be used except in the performance of the services Services hereunder and Supplier shall not substitute any property for Company's ’s property; (iii) shall be held at Supplier's ’s risk, and kept insured by Supplier at Supplier's ’s expense in an amount equal to the replacement cost with loss payable to Company; and (iv) shall be delivered to Company promptly upon its written request, in which event Supplier shall prepare such property for shipment and shall deliver to Company in the same condition as originally received by Supplier, reasonable wear and tear excepted, all at Supplier's ’s expense.