Common use of In-Kind Contribution Clause in Contracts

In-Kind Contribution. Each Party’s in-kind contribution will be provided in accordance with the tasks, lists of items and the timetables set forth in the Project Plan in order to enable the Parties to meet the work schedule for the Project. The legal title to the equipment contributed in kind will remain with the Party who provided the equipment, unless agreed otherwise in the Project Plan. Parties shall use such contributed equipment solely for the purpose of the Project. In the event that a Party does not or does not fully meet its committed in-kind contribution, such Party shall be obliged to pay the monetary equivalent of such in-kind contribution to the Party to which such contribution was due, without prejudice to the right of the latter to claim compensation for the actual loss suffered.