Common use of Delivery; Title; Risk of Loss Clause in Contracts

Delivery; Title; Risk of Loss. Any indicated delivery dates for any Goods are approximate only and Seller reserves a reasonable time to fulfill all orders. Further, Seller shall not be liable or responsible to Buyer, nor be deemed to have defaulted or breached this Agreement, for any failure or delay in performing under this Agreement to the extent such failure or delay is the result of force majeure or causes beyond Seller’s reasonable control, or as set forth in Section 4 above. Seller may, in its discretion and without penalty or liability, make partial delivery of Goods to Buyer. Each delivery will constitute a separate sale, and Buyer shall pay for all units delivered whether in whole or in part. Unless otherwise agreed to by Seller, delivery shall be made to Seller’s facility and shall be FOB Origin from Seller’s facility. Title and Risk of Loss passes to Buyer upon delivery of the Goods. As collateral for the payment of the Goods, Buyer hereby grants to Seller a lien on and security interest in and to the right, title, and interest of Buyer in, to, and under the Goods, wherever located or however arising whether now or hereafter, and all proceeds (including insurance proceeds) of the foregoing. This security interest shall constitute a purchase money security interest under the applicable laws of South Carolina. Buyer hereby grants to Seller whatever power and authority necessary to protect and perfect that interest, including power for the filing of financial statements or other similar documents.