Common use of Passing of Property Clause in Contracts

Passing of Property. 8.1 Notwithstanding the provisions of Condition 9, ownership of the Goods shall not pass to Buyer until Seller has received in full in cash or cleared funds: 8.1.1 all sums payable in respect of the Goods; and 8.1.2 all other sums which are or which become payable to Seller from Buyer on any account including any interest on such sums. 8.2 Until ownership of the Goods has passed to Buyer, Buyer shall: 8.2.1 store the Goods separately to other goods of Buyer or any third party in a way that they remain readily identifiable as Seller’s property; 8.2.2 not destroy, deface or obscure any identifying xxxx or packaging on or relating to the Goods; 8.2.3 maintain the Goods in satisfactory condition insured for their full price against all risks and hold the proceeds of insurance on trust for Seller and not mix them with any other money, nor pay the proceeds into an overdrawn bank account; 8.2.4 notify Seller immediately if it becomes subject to any of the events listed in Condition 8.4.1; and 8.2.5 give Seller such information relating to the Goods as Seller may require from time to time.

Passing of Property. 8.1 Notwithstanding the provisions of Condition 9, ownership of the Goods shall not pass to Buyer until Seller has received in full in cash or cleared funds: 8.1.1 all sums payable in respect of the Goods; and 8.1.2 all other sums which are or which become payable to Seller from Buyer on any account including any interest on such sums. 8.2 Until ownership of the Goods has passed to Buyer, Buyer shall: 8.2.1 store the Goods separately to other goods of Buyer or any third party in a way that they remain readily identifiable as Seller’s property; 8.2.2 not destroy, deface or obscure any identifying xxxx mark or packaging on or relating to the Goods; 8.2.3 maintain the Goods in satisfactory condition insured for their full price against all risks and hold the proceeds of insurance on trust for Seller and not mix them with any other money, nor pay the proceeds into an overdrawn bank account; 8.2.4 notify Seller immediately if it becomes subject to any of the events listed in Condition 8.4.1; and 8.2.5 give Seller such information relating to the Goods as Seller may require from time to time.

Passing of Property. 8.1 Notwithstanding the provisions of Condition 9, ownership of the Goods shall not pass to Buyer until Seller has received in full in cash or cleared funds: 8.1.1 all sums payable in respect of the Goods; and 8.1.2 all other sums which are or which become payable to Seller from Buyer on any account including any interest on such sums. 8.2 Until ownership of the Goods has passed to Buyer, Buyer shall: 8.2.1 store the Goods separately to other goods of Buyer or any third party in a way that they remain readily identifiable as SellerXxxxxx’s property; 8.2.2 not destroy, deface or obscure any identifying xxxx mark or packaging on or relating to the Goods; 8.2.3 maintain the Goods in satisfactory condition insured for their full price against all risks and hold the proceeds of insurance on trust for Seller and not mix them with any other money, nor pay the proceeds into an overdrawn bank account; 8.2.4 notify Seller immediately if it becomes subject to any of the events listed in Condition 8.4.1; and 8.2.5 give Seller such information relating to the Goods as Seller may require from time to time.