Common use of Ownership of Tools Clause in Contracts

Ownership of Tools. 7.1. In the event of Doppelmayr paying all or part of the costs of the engineering and manufacturing of tools or all or part of the purchase price of tools, absolute title to such tools shall pass to Doppelmayr. Our supplier shall separately store and conspicuously and appropriately mark such tools as the property of Doppelmayr. 7.2. Our supplier shall be responsible for and shall pay the costs of standard maintenance of such tools. Furthermore, our supplier shall bear the risk of accidental destruction, loss, deterioration and damage. 7.3. In the event of our supplier failing to perform the obligation set forth in Sub- clause 6.2, Doppelmayr shall be entitled to claim damages from our supplier as well as the return of any benefit derived and to rescind any current contracts with our supplier in whole or in part.

Ownership of Tools. 7.16.1. In the event of Doppelmayr paying all or part of the costs of the engineering and manufacturing of tools or all or part of the purchase price of tools, absolute title to such tools shall pass to Doppelmayr. Our supplier shall separately store and conspicuously and appropriately mark such tools as the property of Doppelmayr. 7.26.2. Our supplier shall be responsible for and shall pay the costs of standard maintenance of such tools. Furthermore, our supplier shall bear the risk of accidental destruction, loss, deterioration and damage. 7.36.3. In the event of our supplier failing to perform the obligation set forth in Sub- clause 6.2, Doppelmayr shall be entitled to claim damages from our supplier as well as the return of any benefit derived and to rescind any current contracts with our supplier in whole or in part.