Common use of Provision of Goods Clause in Contracts

Provision of Goods. 5.1 The Clauses in this section 5 apply only when Vorboss provides Customer with Goods (whether by sale, lease or otherwise). 5.2 For Goods sold by Vorboss to the Customer: (A) The Customer shall have no right to return Goods unless agreed in advance in writing. (B) All Goods shall remain the property of Vorboss until Vorboss has received all Outstanding Amounts. 5.3 For Goods owned by Vorboss (whether by virtue of Clause 5.2(B) or otherwise) but in possession of the Customer: (A) The Customer’s right to possession will terminate immediately upon the occurrence of any event which would allow Vorboss to terminate the Agreements. (B) Vorboss will be entitled to recover payment for the Goods despite the title of the Goods remaining with Vorboss. (C) Risk in the Goods of any loss, damage, destruction, theft or seizure will pass to the Customer upon delivery and Customer must obtain and maintain adequate insurance with a reputable insurer against these risks for the full value of the equipment. The Customer must provide copies of insurance contracts evidencing compliance with this clause within 10 Business Days upon request. (D) The Customer shall not remove any labels, asset tags or other markings that identify the Goods as belonging to Vorboss. (E) The Customer grants Vorboss an irrevocable licence to enter any premises where the Goods are stored to inspect them, or where the Customer’s right to possession has terminated, to recover them.

Provision of Goods. ‌ 5.1 The Clauses in this section 5 apply only when Vorboss provides Customer with Goods (whether by sale, lease or otherwise). 5.2 For Goods sold by Vorboss to the Customer: (A) The Customer shall have no right to return Goods unless agreed in advance in writing. (B) All Goods shall remain the property of Vorboss until Vorboss Xxxxxxx has received all Outstanding Amounts.Amounts.‌ 5.3 For Goods owned by Vorboss Xxxxxxx (whether by virtue of Clause 5.2(B) or otherwise) but in possession of the Customer: (A) The Customer’s right to possession will terminate immediately upon the occurrence of any event which would allow Vorboss to terminate the Agreements. (B) Vorboss will be entitled to recover payment for the Goods despite the title of the Goods remaining with Vorboss. (C) Risk in the Goods of any loss, damage, destruction, theft or seizure will pass to the Customer upon delivery and Customer must obtain and maintain adequate insurance with a reputable insurer against these risks for the full value of the equipment. The Customer must provide copies of insurance contracts evidencing compliance with this clause within 10 Business Days upon request.request.‌ (D) The Customer shall not remove any labels, asset tags or other markings that identify the Goods as belonging to Vorboss. (E) The Customer grants Vorboss an irrevocable licence to enter any premises where the Goods are stored to inspect them, or where the Customer’s right to possession has terminated, to recover them.