Placed Equipment Clause Samples

The Placed Equipment clause defines the terms under which equipment is installed or positioned at a specific location, typically by one party for use by another. It outlines responsibilities regarding the care, maintenance, and permitted use of the equipment, and may specify ownership, liability for damage, and procedures for removal or replacement. This clause ensures that both parties clearly understand their obligations and rights concerning the equipment, thereby reducing disputes and clarifying risk allocation.
Placed Equipment. If the Merchant has accepted the placement of Agent owned equipment for the processing of transactions hereunder, then the addendum executed by the Merchant related to such equipment shall be incorporated into this Agreement as if such terms were set forth herein. However, if the Merchant has accepted the placement of Agent owned equipment (the “Equipment”) and no addendum or other agreement was signed, the following terms and conditions shall apply to such placement: (a) Merchant agrees that the Equipment is the property of Agent, is being licensed to Merchant, and must be returned in good and working condition within ten (10) days of the termination or expiration of this Agreement. If the Equipment is not returned within ten (10) days, Merchant agrees to pay Agent the value of such equipment, which shall be the same as Agent charges for the same equipment to its other merchants. (b) If the box referencing rental of the Equipment is checked in the Merchant Application, Merchant shall pay the stated license fee on the Equipment on a monthly basis, plus the applicable sales use taxes, beginning the month the Equipment is received by Merchant and continuing until the Equipment is returned by Merchant or this Agreement is terminated or expires. (c) Merchant agrees to be responsible for any damage to the Equipment as a result of misuse or negligence. (d) Merchant agrees to indemnify and hold Servicers harmless from and against any and all liabilities, losses, claims, damages, disputes, offsets, claims or counterclaims of any kind in any way related to the use (or misuse) of the Equipment. This includes any damage to the Equipment resulting from an act of nature, fire, or theft, or from misuse or negligence by Merchant or its agents. Merchant also agrees to pay Agent a shipping/handling charge for each delivery of replacement Equipment, regardless of the reason. Notwithstanding the prior paragraph, if Merchant subscribes to certain level(s) of Agent’s Payments Hub Program, it will not be responsible for failure of Equipment for any reason, so long as such Equipment is returned to Agent. Under this program, Agent will also provide overnight replacement of the Equipment free of shipping/handling charges, after remote troubleshooting efforts are unsuccessful. Comparable replacement Equipment may be new or refurbished, or a different brand or model. Replacements are limited to two (2) in any consecutive twelve (12) month period.
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Placed Equipment. Roche will provide Digene with the following information to document the status of the Placed Equipment, by December 31, 2002 to the extent reasonably available and otherwise by February 28, 2003: i. List of all equipment placed including customer location, equipment description, luminometer serial numbers, date of placement, customer site, contact name with telephone number, fax number and address, and equipment placement agreement or comparable written documentation of equipment ownership, and customer contracts; and ii. Depreciated value of the Placed Equipment as of December 31, 2002 on the books of Roche and documentation to support such depreciated value.
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Placed Equipment. Make of #1: Model: Serial Number: CBS ID Number: UConn Asset Tag (if applicable): MAC Address: Network Drop Required? Dedicated Phone Line Required? Electrical Upgrade Required? IP Address: Device Location:/Building: Room Number: Device Location Description: KFS Account Number: Monthly Rate:
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Related to Placed Equipment

  • Stored equipment We accept no responsibility for any stored equipment or other property brought on to or left at the premises, and all liability for loss or damage is hereby excluded. All equipment and other property (other than stored equipment) must be removed at the end of each hiring or we will charge fees each day or part of a day at the hire fee per hiring until the same is removed. We may, in our discretion, dispose of any items referred to below by sale or otherwise on such terms and conditions as we think fit, and charge you any costs we incur in storing and selling or otherwise disposing of the same, in any of the following circumstances: (i) your failure either to pay any charges in respect of stored equipment due and payable or to remove the same within seven days after the agreed storage period has ended (ii) your failure to dispose of any property brought on to the premises for the purposes of the hiring.

  • Required Equipment Employees are expected to be at their individual work stations with required equipment in operable condition at the scheduled shift starting time.

  • Specified Equipment 4.2.1 Subject to paragraph 4.2.3, the Train Operator has, in relation to a Service, a Firm Right to use any equipment registered with RSSB’s R2 system which has performance characteristics identical to or better than the Timing Load specified in the Rights Table for such Service. 4.2.2 Subject to paragraph 4.2.3, the Train Operator has, in relation to a Service, a Contingent Right to use any equipment registered with RSSB’s R2 system. 4.2.3 No rolling stock may be used unless and until it has achieved vehicle and route acceptance necessary for its use on the Network.

  • Leased Equipment The risk of loss or damage to leased equipment, goods or property shall not transfer to the University except as provided in §680.219, Florida Statutes. Any security interest in the leased equipment, goods or property granted to the Contractor contrary to AGO 79-72 and AGO 80-9 is null and void. Limitations of remedies provisions, which are unconscionable under applicable Florida law, are void. MATERIAL SAFETY DATA SHEET (MSDS). In compliance with Florida Statutes, Ch. 442, a Material Safety Data Sheet (MSDS) must accompany any applicable item delivered under this Agreement.

  • Security Interest in Financed Equipment Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of CNHICA as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of CNHICA as secured party.