Common use of Funding Recipient's responsibilities for Assets Clause in Contracts

Funding Recipient's responsibilities for Assets. Throughout the Term, the Funding Recipient agrees to: (a) use any Asset in accordance with this Agreement for the purposes of the Project; (b) hold all Assets securely and take all reasonable steps to safeguard them against theft, loss, damage, or unauthorised use; (c) maintain all Assets in good working order; (d) maintain all appropriate insurances for all Assets to their full replacement cost noting GBRF or the Department's interest, if any, in the Asset under this Agreement; (e) if required by Law, maintain registration and licensing of all Assets; (f) be fully responsible for, and bear all risks relating to, the use or Disposal of all Assets; and (g) maintain an Assets register in the form notified by GBRF, and, as and when requested by GBRF, provide a copy of the Assets register to GBRF.