Common use of PASSING OF RISK AND TITLE Clause in Contracts

PASSING OF RISK AND TITLE. 13.1 All Parts are at the risk of the Customer from delivery Ex Works (Incoterms 2010) the AJW Facility. Parts Repaired are at the risk of the Customer until received by AJW Delivered Duty Paid (Incoterms 2010) AJW Facility. If the Customer loses or damages a Unit whilst in its care, custody or control, it shall be responsible for either the cost of the Repair (if the unit is BER) or shall pay the replacement value (as defined in the Exchange Order) if the Unit has to be replaced. 13.2 The Customer agrees and warrants that title to and ownership of: (i) Parts Sold by AJW shall remain with and be vested in AJW until AJW has received from the Customer full payment in accordance with these Standard Terms; (ii) Parts Exchanged shall remain with and be vested in AJW until AJW has received from the Customer full payment in accordance with these Standard Terms or until such time as the Exchange Unit is installed on the Customer’s aircraft (whichever is the earlier) at which point in time AJW shall pass full legal and beneficial title to the Exchange Unit to Customer and Customer shall automatically and simultaneously pass full legal and beneficial title to and ownership of the Off Unit to AJW. In the event that an Off Unit is BER, title shall transfer in accordance with Clause 3.9; (iii) any Loan Unit shall remain at all times with AJW, free from all liens and encumbrances other than any security interest created by or through AJW and the Customer shall have no right, title or interest in or to the Loan Unit except as authorised and permitted by these Standard Terms. The Customer agrees not to sell or pledge the Loan Unit, or to allow the Loan Unit to be the subject of any lien or encumbrance.

PASSING OF RISK AND TITLE. 13.1 12.1 All Parts are at the risk of the Customer from delivery Ex Works (Incoterms 2010) the AJW DAI Facility. Parts Repaired are at the risk of the Customer until received by AJW DAI Delivered Duty Paid (Incoterms 2010) AJW DAI Facility. If the Customer loses or damages a Unit whilst in its care, custody or control, it shall be responsible for either the cost of the Repair repair (if the unit is BERnot beyond economic repair) or shall pay the replacement value (as defined in the Exchange Order) if the Unit has to be replaced. 13.2 12.2 The Customer agrees and warrants that title to and ownership of: (i) Parts Sold by AJW DAI shall remain with and be vested in AJW DAI until AJW DAI has received from the Customer full payment in accordance with these Standard Terms; (ii) Parts Exchanged shall remain with and be vested in AJW DAI until AJW DAI has received from the Customer full payment in accordance with these Standard Terms or until such time as the Exchange Unit is installed on the Customer’s aircraft (whichever is the earlier) at which point in time AJW DAI shall pass full legal and beneficial title to the Exchange Unit to Customer and Customer shall automatically and simultaneously pass full legal and beneficial title to and ownership of the Off Unit to AJW. In the event that an Off Unit is BER, title shall transfer in accordance with Clause 3.9;DAI. (iii) any Loan Unit shall remain at all times with AJWDAI, free from all liens and encumbrances other than any security interest created by or through AJW DAI and the Customer shall have no right, title or interest in or to the Loan Unit except as authorised authorized and permitted by these Standard Terms. The Customer agrees not to sell or pledge the Loan Unit, or to allow the Loan Unit to be the subject of any lien or encumbrance.

PASSING OF RISK AND TITLE. 13.1 All Parts are at the risk of the Customer from delivery Ex Works (Incoterms 2010) the AJW Facility. Parts Repaired are at the risk of the Customer until received by AJW Delivered Duty Paid (Incoterms 2010) AJW Facility. If the Customer loses or damages a Unit whilst in its care, custody or control, it shall be responsible for either the cost of the Repair (if the unit is BER) or shall pay the replacement value (as defined in the Exchange Order) if the Unit has to be replaced. 13.2 . The Customer agrees and warrants that title to and ownership of: (i) : Parts Sold by AJW shall remain with and be vested in AJW until AJW has received from the Customer full payment in accordance with these Standard Terms; (ii) ; Parts Exchanged shall remain with and be vested in AJW until AJW has received from the Customer full payment in accordance with these Standard Terms or until such time as the Exchange Unit is installed on the Customer’s aircraft (whichever is the earlier) at which point in time AJW shall pass full legal and beneficial title to the Exchange Unit to Customer and Customer shall automatically and simultaneously pass full legal and beneficial title to and ownership of the Off Unit to AJW. In the event that an Off Unit is BER, title shall transfer in accordance with Clause 3.9; (iii) ; any Loan Unit shall remain at all times with AJW, free from all liens and encumbrances other than any security interest created by or through AJW and the Customer shall have no right, title or interest in or to the Loan Unit except as authorised and permitted by these Standard Terms. The Customer agrees not to sell or pledge the Loan Unit, or to allow the Loan Unit to be the subject of any lien or encumbrance.

PASSING OF RISK AND TITLE. 13.1 All Parts are at the risk of the Customer from delivery Ex Works (Incoterms 2010) the AJW AJWTE Facility. Parts Repaired are at the risk of the Customer until received by AJW AJWTE Delivered Duty Paid (Incoterms 2010) AJW AJWTE Facility. If the Customer loses or damages a Unit whilst in its care, custody custody 13.2 or control, it shall be responsible for either the cost of the Repair (if the unit is BER) or shall pay the replacement value (as defined in the Exchange Order) if the Unit has to be replaced. 13.2 13.3 The Customer agrees and warrants that title to and ownership of: (i) Parts Sold by AJW AJWTE shall remain with and be vested in AJW AJWTE until AJW AJWTE has received from the Customer full payment in accordance with these Standard Terms; (ii) Parts Exchanged shall remain with and be vested in AJW AJWTE until AJW AJWTE has received from the Customer full payment in accordance with these Standard Terms or until such time as the Exchange Unit is installed on the Customer’s aircraft (whichever is the earlier) at which point in time AJW AJWTE shall pass full legal and beneficial title to the Exchange Unit to Customer and Customer shall automatically and simultaneously pass full legal and beneficial title to and ownership of the Off Unit to AJWAJWTE. In the event that an Off Unit is BER, title shall transfer in accordance with Clause 3.9; (iii) any Loan Unit shall remain at all times with AJWAJWTE, free from all liens and encumbrances other than any security interest created by or through AJW AJWTE and the Customer shall have no right, title or interest in or to the Loan Unit except as authorised and permitted by these Standard Terms. The Customer agrees not to sell or pledge the Loan Unit, or to allow the Loan Unit to be the subject of any lien or encumbrance.