Consigned Goods Clause Samples
The Consigned Goods clause defines the terms under which goods are delivered by one party (the consignor) to another (the consignee) for the purpose of sale, storage, or processing, while ownership remains with the consignor until the goods are sold or otherwise disposed of. Typically, this clause outlines responsibilities for handling, storing, and insuring the goods, and may specify procedures for reporting sales or returning unsold items. Its core function is to clarify the legal and practical relationship between the parties regarding possession and ownership, thereby reducing the risk of disputes over title and liability for the goods.
POPULAR SAMPLE Copied 1 times
Consigned Goods. On the first Business Day of each [month], the Retailer must provide the Supplier by fax or other electronic communication, a written notice identifying the Consigned Goods sold in the previous [month].
Consigned Goods. Improving visibility of Sub-contract opportunities available to Small and Medium Size Enterprises and Voluntary, Community and Social Enterprises
Consigned Goods. Consignee or any Fenco Party acting as agent on behalf of Consignee will maintain an electronic tracking system for tracking all transactions involving the Consigned Goods, [*], the receipt of such Consigned Goods at the Watsontown Facility, the shipping of such Consigned Goods from the Watsontown Facility and the receipt of the proceeds of the sale of any of the Consigned Goods, whether by Consignee or any factor with which Consignee has a factoring agreement to which such Consigned Goods are subject, in each case with such detail and supporting documentation as Consignor shall request (the “Tracking System”). Consignee or any Fenco Party acting as agent on behalf of Consignee shall deliver daily Tracking System status reports to Consignor. The Consigned Goods shall be: (i) stored at the Watsontown Facility in a segregated area designated and marked clearly as “Property of Motorcar Parts of America, Inc. on Consignment”; and (ii) segregated from the goods of all other persons and not commingled with any such goods.
Consigned Goods a. Notwithstanding:
(i) the order or time of attachment; (ii) the order, time, or manner of perfection; (iii) the failure to file or record, or the time of filing or recordation, of any document or instrument, or other method of perfecting a Lien; or (iv) anything in the Credit Agreement to the contrary: no Senior Creditor shall challenge or contest the validity, perfection or priority of the Consigning Trade Creditor Interests. The parties acknowledge that in the jewelry business, a consignment may be characterized as a "memo" or "memo sale" or similar expression, and this Section 3.a. shall apply to all of the foregoing and to any item of similar description to the extent that each of the foregoing constitutes a consignment under the UCC. Nothing in this Section 3.a. relieves any Trade Creditor from the requirement of satisfying the criteria set forth in the definitions of "Consigning Trade Creditor" and "Consigning Trade Creditor Interests" in order to obtain the benefit of this Section 3.a.
b. Each Trade Creditor hereby irrevocably waives and relinquishes the benefit of any and all Liens (except for the Lien in favor of the Collateral Trustee under the Trade Creditor Security Agreement) in: (i) the proceeds of any inventory delivered in a consignment to a Credit Party and (ii) any inventory delivered in a consignment to a Credit Party and later purchased by any Credit Party with the consent of the Consigning Trade Creditor (whether or not the purchase price has been paid).
Consigned Goods. All goods title to which is held by a consignor or concessionaire and which are in the possession of Borrower as of the date hereof are identified in SCHEDULE 5.20 by type and location.
Consigned Goods. The Borrower has not placed inventory owned by it in excess of $2,000,000 on consignment with any Person.
Consigned Goods. Any material furnished by Buyer on a “No Charge” basis shall remain property of Buyer and be fully accounted for, including scrap. Any such material scrapped because of defective workmanship of Seller shall, at ▇▇▇▇▇’s discretion be replaced or paid for by Seller.
Consigned Goods. Buyer shall bear all risk of loss and damage to all consigned Goods in Buyers possession or control, notwithstanding Buyer’s exercise of reasonable care. Seller shall have the right to enter Buyers premises at all reasonable time to inspect such Goods and related records. Upon request ▇▇▇▇▇ agrees to return such Goods to Seller pursuant to Seller’s shipping instructions.
Consigned Goods. Borrower shall not, without providing Atec with twenty (20) Business Days' prior notice, maintain consigned goods at any locations other than those listed in SCHEDULE 5.20 or hold types of consigned goods other than those listed in SCHEDULE 5.20.
7. EVENTS OF DEFAULT, RIGHTS, AND REMEDIES
Consigned Goods. If any Laser Products provided by Seller hereunder are supplied on a consignment basis, then such consignment shall also be subject to a separate Consignment Agreement among Seller, Buyer and its consignee, in form and substance satisfactory to Seller.