Purchased Equipment. If we sell to you a facility or any item of equipment (purchased equipment) either for use in the provision of the services to you or otherwise, then: (a) that purchased equipment remains our property until we receive full payment from you or we otherwise deem in our sole discretion that title has passed to you (prior to the receipt of full payment); (b) until we receive full payment from you, you will not part with possession of the purchased equipment except to us; (c) if you do part with the purchased equipment before making full payment to us, we may recover the value of it as a debt due, including offsetting the value of the purchased equipment against any monies owed to you by us; (d) until full payment of the purchased equipment is received, you indemnify us against any loss or damage to it, unless that loss or damage arises from fair wear and tear; and (e) until we receive full payment for the purchased equipment, you must not remove or obscure any identification marks on it, and must comply with our reasonable instructions to protect our ownership and not do anything which might detrimentally affect our ownership of the purchased equipment.
Appears in 4 contracts
Samples: Standard Form of Agreement, Standard Form of Agreement, Standard Form of Agreement
