FIAMM’s property Sample Clauses

FIAMM’s property. 17.1.1 Tooling, jigs, dies, gauges, fixtures, molds, patterns, supplies, materials, and other equipment and property used by Supplier to manufacture, store, and transport Products or to provide Services (“Property”) will be owned by FIAMM and referred to as “FIAMM’s Property” if 1) the Property is so designated in the Contract, or 2) FIAMM or its customer has provided or paid for the Property .Supplier will assign to FIAMM contract rights or claims in which Supplier has an interest with respect to FIAMM’s Property and execute bills of sale, financing statements (and Supplier does hereby authorize FIAMM to sign and record such financing statements on its own behalf), or other documents reasonably requested by FIAMM to evidence theownership of FIAMM’s Property. Supplier will indemnify and defend FIAMM against claims or liens adverse to FIAMM’s or its customer’s ownership of FIAMM’s Property except those that result from the acts or omissions of FIAMM or its customer. Supplier will hold FIAMM’s Property on a bailment bases and will be responsible for loss or damage to FIAMM’s Property while in its possession or control. To the extent permitted by law, Supplier waives any lien or similar right it may have with respect to FIAMM’s Property. FIAMM will be responsible for personal property taxes assessed against FIAMM’s Property.
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