Common use of Reservation of ownership Clause in Contracts

Reservation of ownership. SEMIKRON shall retain ownership in the products sold until all claims - including future claims - arising from the business relation will have been fulfilled. In the case of bills and cheques, payment is not considered to be received until said bills and cheques have been honoured. Machining or processing of the products is considered to be carried out on behalf of SEMIKRON. In the event of an intermixture or combination of goods belonging to a third party, SEMIKRON shall acquire a co- ownership share proportionate to the ratio of SEMIKRON products to the third-party objects brought in by the contracting party at the moment of intermixture or combination. In case the contracting party acquires sole ownership of the new object, it already grants a co-ownership share of the said goods proportionate to the ratio of the invoice value of the reserved property to the value of the new goods. The contracting party is entitled, subject to revocation, to resell, but not to pledge or to assign by way of security, the goods which are owned or co-owned by SEMIKRON within the scope of proper business activity. If the contracting party resells SEMIKRON products or his own goods containing SEMIKRON products without receiving the full purchase price in advance or concurrent with the delivery of the object of purchase, he is obliged to conclude an agreement with his customer about retention of ownership in accordance with these terms and conditions. The contracting party already assigns to SEMIKRON all claims it may have from the resale as well as any rights accrued to him from the agreement on retention of ownership made by him. At SEMIKRON’s request, the contracting party is obliged to inform his contracting party of the assignment and furnish SEMIKRON with the information and documents it requires to assert its rights against the purchaser. In the event of delayed payment, other material breaches of contract or in the event of substantial deterioration of the contracting party’s financial circumstances, the contracting party is obliged, at SEMIKRON’s request, to surrender to SEMIKRON, immediately and at its own expense, all property co-owned by SEMIKRON. If the value of the securities arising out of the reservation of title agreement exceeds SEMIKRON’s claims from its business relations with the contracting party by a total of more than 20 %, SEMIKRON shall, at the request of the contracting party, declare the release of securities as it sees fit.

Reservation of ownership. SEMIKRON All goods delivered by us shall retain remain our property until the full payment of all outstanding accounts – irrespective of any legal grounds – has been effected by the Buyer. This shall also be applicable to payments made in respected of specially designated receivables. As far as the current accounts are con- cerned, the goods under reservation of ownership in shall serve as a security for the products sold until all claims - including future claims - arising from the business relation will have been fulfilleddebit balance owed to us. In the case of bills The handling and cheques, payment is not considered to be received until said bills and cheques have been honoured. Machining or processing of the products is considered to goods under reservation of ownership shall be carried out performed for us as the manufacturer in compliance with § 950 BGB (German Civil Code), without any obligation on behalf our part. The merchandise processed shall serve as a security equalling the amount of SEMIKRONthe invoice value of the goods under reservation of ownership. In the event If goods under reservation of an intermixture ownership are processed, connected with or combination of mixed with other goods belonging to a third party, SEMIKRON shall acquire a co- ownership share proportionate to the ratio of SEMIKRON products to the third-party objects brought in by the contracting party at the moment of intermixture or combination. In case the contracting party acquires sole ownership Buyer, we shall become co-owners of the new object, it already grants a co-ownership share of the said goods proportionate to pro- ducts thereof at the ratio of the invoice value of the reserved property goods under reservation of ownership to the value of the new goodsproducts. This shall also include any ex- penses for processing, connecting/attaching or mixing. The contracting party is entitledBuyer shall assign to us his ownership rights to these products and shall store the products for us with the diligence of a prudent businessman. As of now, subject to revocation, to resell, but not to pledge or Xxxxx agrees to assign by way of security, the goods which are owned or co-owned by SEMIKRON within the scope of proper business activity. If the contracting party resells SEMIKRON products or his own goods containing SEMIKRON products without receiving the full purchase price in advance or concurrent with the delivery of the object of purchase, he is obliged to conclude an agreement with his customer about retention of ownership in accordance with these terms and conditions. The contracting party already assigns to SEMIKRON all us any claims it may have resulting from the resale as well as any rights accrued to him from of the agreement on retention goods under reservation of ownership made by himownership. At SEMIKRON’s our request, the contracting party is obliged Buyer shall be obligated to inform his contracting notify any third party of the assignment in our favour, thereby stating the amount of our claim. The Buyer shall be entitled to sell the goods under reservation of ownership and furnish SEMIKRON with any products created through the information and documents it requires to assert its rights against the purchaser. In the event of delayed paymentprocessing, other material breaches of contract connecting/attaching or mixing only in the event normal course of substantial deterioration business and only against payment in cash or by bill of exchange. Should the contracting party’s financial circumstancesBuyer execute any bills of exchange or cheques or render any other services exclusively on account of performance, such payments shall not be deemed to be effected until the contracting party is obligedamount in cash has been received. Any payments in cash or by cheque in connection with finance bills executed by us as the drawer, at SEMIKRON’s request, to surrender to SEMIKRON, immediately and at its own expense, all property co-owned by SEMIKRON. If the value of the securities arising out of the shall not void or cancel our reservation of title agreement exceeds SEMIKRON’s claims from its business relations with the contracting party by a total of more than 20 %, SEMIKRON shall, at the request of the contracting party, declare the release of securities as it sees fitownership.

Reservation of ownership. SEMIKRON shall retain The right of ownership in the products sold goods does not go over to the Client until the Client has fulfilled all claims - including future claims - arising obligations issuing from the business relation will have been fulfilledagreement (including the payment of all owed amounts, plus interests and costs). In the case The reservation of bills and chequesownership likewise extends to all debt claims concerning goods encumbered by reservation of ownership. The risks of force majeure, payment is not considered to be received until said bills and cheques have been honoured. Machining loss, destruction or processing theft of the products is considered to be carried out on behalf of SEMIKRON. In the event of an intermixture or combination of goods belonging to a third party, SEMIKRON shall acquire a co- ownership share proportionate to the ratio of SEMIKRON products to the third-party objects brought in are nevertheless wholly borne by the contracting party at Client from the moment time of intermixture or combination. In case the contracting party acquires sole ownership delivery of the new object, it already grants a co-ownership share goods or of the said goods proportionate to the ratio Client’s defaulting on acceptance of the invoice value of the reserved property to the value of the new goods. The contracting party is entitled, subject Client has a duty of care with regard to revocation, to resell, but not to pledge or to assign by way of security, the goods which are owned or co-owned by SEMIKRON within delivered under reservation of ownership; these goods must be stored and kept in perfect condition, in places suitable for the scope of proper business activity. If the contracting party resells SEMIKRON products or his own goods containing SEMIKRON products without receiving the full purchase price in advance or concurrent with the delivery of the object of purchasepurpose, he is obliged to conclude an agreement with his customer about retention of ownership in accordance with these terms the usual sectoral standards and conditionsrequirements. Until the Client satisfies its obligations, the Client shall not use as a means of payment, sell or otherwise alienate, or process, treat or adapt the delivered goods, nor put them up as security. The contracting party already assigns to SEMIKRON all claims it may have from the resale as well as any rights accrued to him from the agreement on retention of ownership made by him. At SEMIKRON’s request, the contracting party is obliged Client gives an undertaking to inform his contracting party of the assignment and furnish SEMIKRON with the information and documents it requires to assert its rights against the purchaser. In the event of delayed paymentStoopen & Meeûs immediately, other material breaches of contract or in writing, in the event of substantial deterioration seizure of goods delivered with reservation of ownership. In the absence of payment in full on the due date the Client is obliged to return to Stoopen & Meeûs, on first request, all goods delivered with reservation of ownership, in which case the agreement is automatically and without service of formal notice of default dissolved to the Client’s disadvantage, without Stoopen & Meeûs thereby becoming liable to payment of any compensation; the Client must then pay to Stoopen & Meeûs a fixed compensation at the rate of 30% of the contracting party’s financial circumstancesinvoiced amount for the goods in question, without prejudice to Stoopen & Meeûs’ right to higher compensation if the contracting party real loss is obliged, at SEMIKRON’s request, to surrender to SEMIKRON, immediately and at its own expense, all property co-owned by SEMIKRONhigher. If the value As surety for payment of the securities arising out outstanding invoices the Client pledges all its existing and future claims on third parties from its commercial activities (including claims against the State and other authorities or public legal entities and insurance companies) to Stoopen & Meeûs, which accepts. Stoopen & Meeûs has the right to inform the debtors of the reservation pledged claims regarding such pledging. The paid instalments remain acquired by us by way of title agreement exceeds SEMIKRON’s claims from its business relations with the contracting party by a total of more than 20 %, SEMIKRON shall, at the request of the contracting party, declare the release of securities as it sees fitcompensation for possible loss on resale.