Common use of GE PROPERTY Clause in Contracts

GE PROPERTY. 27.1 All tools, dies, layouts, models, drawings, plans, data, manufacturing aids, testing or other equipment or materials, inventions, technology, trade secrets, know how, all reproductions and replacements, or other proprietary information, and all intellectual property rights in the foregoing, which GE furnishes to you, or which is developed or acquired at GE’s expense or at its direction in the performance of work hereunder, (collectively and individually, “GE Property”) is GE’s property and is hereby deemed a bailment to you. All GE Property furnished by GE to you is provided on an “AS IS” basis. You: (i) hereby assign and agree to assign to GE, all GE Property (including, without limitation, reasonably cooperating with GE to secure any and all intellectual property rights developed under this PO by, for example, assisting in the filing and prosecution of patent applications, timely reviewing drafts, providing documentary evidence, and executing such documents as GE may reasonably request); (ii) bear the risk of loss and damage to all GE Property; (iii) shall safely maintain GE Property separate from your property; (iv) shall xxxx GE Property as "Property of General Electric Company"; (v) shall not move GE Property from your premises without GE’s prior written consent; (vi) shall not allow third parties to control, use, access or possess GE Property; (vi) shall ensure that only your employees use and have access to GE Property solely for purposes of fulfilling your obligations to GE under this PO; (vii) shall not substitute any property for GE Property; (viii) shall insure all GE Property consisting of tangible property at full replacement cost; (ix) shall at your sole cost and expense be responsible for operating, maintaining and calibrating the GE Property in accordance with the manufacturer’s specifications and recommended guidelines; (x) shall maintain and make available to GE upon its request, sufficient records of all GE Property (including a description and part number of each and every Product, including components thereof, that the GE Property is used to create, maintain, and/or test said Product); (xi) shall promptly disclose to GE the creation or acquisition of any and all GE Property, and provide a consolidated list on a semi-annual basis (or as otherwise requested by GE); and (xii) shall not take or allow any lien or other security interest against GE Property. 27.2 You shall return GE Property to GE in the same condition as originally received by you (except for normal wear and tear) upon the earliest to occur: (i) when any GE Property is no longer reasonably required by you to fulfill your obligations to GE under this PO; (ii) when notified by GE (unless GE Property is consumed or otherwise disposed of with GE’s prior written consent); or (iii) upon expiration or termination of this PO. In any such event, all GE Property shall (at GE’s election) either be immediately (a) released by you to GE, or (b) delivered by you to GE (or its designee) properly packaged and marked in accordance with instructions from GE, utilizing the carrier designated by GE, and delivered to the location designated by GE. If GE elects option (b) above, GE shall reimburse you for the necessary actual and incurred costs of any such transportation and delivery to a designated location; provided, however, that you shall be responsible (and GE shall not reimburse you) for any such costs if GE terminates this PO with cause. 27.3 Notwithstanding anything to the contrary, no rights, title or licenses are granted to you under any GE patents, copyrights, trade secrets, or other property (including intellectual property) rights. Under no circumstances shall any such rights, title or licenses be implied.

GE PROPERTY. 27.1 All tools, dies, layouts, models, drawings, plans, data, manufacturing aids, testing or other equipment or materials, inventions, technology, trade secrets, know how, all reproductions and replacements, or other proprietary information, and all intellectual property rights in the foregoing, which GE furnishes to you, or which is developed or acquired at GE’s expense or at its direction in the performance of work hereunder, (collectively and individually, “GE Property”) is GE’s property and is hereby deemed a bailment to you. All GE Property furnished by GE to you is provided on an “AS IS” basis. You: (i) hereby assign and agree to assign to GE, all GE Property (including, without limitation, reasonably cooperating with GE to secure any and all intellectual property rights developed under this PO by, for example, assisting in the filing and prosecution of patent applications, timely reviewing drafts, providing documentary evidence, and executing such documents as GE may reasonably request); (ii) bear the risk of loss and damage to all GE Property; (iii) shall safely maintain GE Property separate from your property; (iv) shall xxxx mark GE Property as "Property of General Electric Company"; (v) shall not move GE Property from your premises without GE’s prior written consent; (vi) shall not allow third parties to control, use, access or possess GE Property; (vi) shall ensure that only your employees use and have access to GE Property solely for purposes of fulfilling your obligations to GE under this PO; (vii) shall not substitute any property for GE Property; (viii) shall insure all GE Property consisting of tangible property at full replacement cost; (ix) shall at your sole cost and expense be responsible for operating, maintaining and calibrating the GE Property in accordance with the manufacturer’s specifications and recommended guidelines; (x) shall maintain and make available to GE upon its request, sufficient records of all GE Property (including a description and part number of each and every Product, including components thereof, that the GE Property is used to create, maintain, and/or test said Product); (xi) shall promptly disclose to GE the creation or acquisition of any and all GE Property, and provide a consolidated list on a semi-annual basis (or as otherwise requested by GE); and (xii) shall not take or allow any lien or other security interest against GE Property. 27.2 You shall return GE Property to GE in the same condition as originally received by you (except for normal wear and tear) upon the earliest to occur: (i) when any GE Property is no longer reasonably required by you to fulfill your obligations to GE under this PO; (ii) when notified by GE (unless GE Property is consumed or otherwise disposed of with GE’s prior written consent); or (iii) upon expiration or termination of this PO. In any such event, all GE Property shall (at GE’s election) either be immediately (a) released by you to GE, or (b) delivered by you to GE (or its designee) properly packaged and marked in accordance with instructions from GE, utilizing the carrier designated by GE, and delivered to the location designated by GE. If GE elects option (b) above, GE shall reimburse you for the necessary actual and incurred costs of any such transportation and delivery to a designated location; provided, however, that you shall be responsible (and GE shall not reimburse you) for any such costs if GE terminates this PO with cause. 27.3 Notwithstanding anything to the contrary, no rights, title or licenses are granted to you under any GE patents, copyrights, trade secrets, or other property (including intellectual property) rights. Under no circumstances shall any such rights, title or licenses be implied.

GE PROPERTY. 27.1 All tools, dies, layouts, models, drawings, plans, data, manufacturing aids, testing or other equipment or materials, inventions, technology, trade secrets, know how, all reproductions and replacements, or other proprietary information, and all intellectual property rights in the foregoing, which GE furnishes to you, or which is developed or acquired at GE’s expense or at its direction in the performance of work hereunder, (collectively and individually, “GE Property”) is GE’s property and is hereby xxxxxx deemed a bailment to you. All GE Property furnished by GE to you is provided on an “AS IS” basis. You: (i) hereby assign and agree to assign to GE, all GE Property (including, without limitation, reasonably cooperating with GE to secure any and all intellectual property rights developed under this PO by, for example, assisting in the filing and prosecution of patent applications, timely reviewing drafts, providing documentary evidence, and executing such documents as GE may reasonably request), and you hereby waive your present and future Moral Rights therein as permitted by any applicable laws and undertake to procure that all present and future Moral Rights therein are waived by the relevant author or other owner of such rights as permitted by any applicable laws; (ii) bear the risk of loss and damage to all GE Property; (iii) shall safely maintain GE Property separate from your property; (iv) shall xxxx mark GE Property as "Property of General Electric Company"; (v) shall not move GE Property from your premises without GE’s prior written consent; (vi) shall not allow third parties to control, use, access or possess GE Property; (vi) shall ensure that only your employees use and have access to GE Property solely for purposes of fulfilling your obligations to GE under this PO; (vii) shall not substitute any property for GE Property; (viii) shall insure all GE Property consisting of tangible property at full replacement cost; (ix) shall at your sole cost and expense be responsible for operating, maintaining and calibrating the GE Property in accordance with the manufacturer’s specifications and recommended guidelines; (x) shall maintain and make available to GE upon its request, sufficient records of all GE Property (including a description and part number of each and every Product, including components thereof, that the GE Property is used to create, maintain, and/or test said Product); (xi) shall promptly disclose to GE the creation or acquisition of any and all GE Property, and provide a consolidated list on a semi-annual basis (or as otherwise requested by GE); and (xii) shall not take or allow any lien or other security interest against GE Property. 27.2 You shall return GE Property to GE in the same condition as originally received by you (except for normal wear and tear) upon the earliest to occur: (i) when any GE Property is no longer reasonably required by you to fulfill your obligations to GE under this PO; (ii) when notified by GE (unless GE Property is consumed or otherwise disposed of with GE’s prior written consent); or (iii) upon expiration or termination of this PO. In any such event, all GE Property shall (at GE’s election) either be immediately immediately (a) released by you to GE, or (b) delivered by you to GE (or its designee) properly packaged and marked in accordance with instructions from GE, utilizing the carrier designated by GE, and delivered to the location designated by GE. If GE elects option (b) above, GE shall reimburse you for the necessary actual and incurred costs of any such transportation and delivery to a designated location; provided, however, that you shall be responsible (and GE shall not reimburse you) for any such costs if GE terminates this PO with cause. 27.3 Notwithstanding anything to the contrary, no rights, title or licenses are granted to you under any GE patents, copyrights, trade secrets, or other property (including intellectual property) rights. Under no circumstances shall any such rights, title or licenses be implied.