Common use of Reservations of Title Clause in Contracts

Reservations of Title. (a) Not withstanding delivery and the passing of risk, the property in all the goods delivered by the Company to the Customer shall remain vested in the Company until unconditional payment in full is received and cleared through the Company’s bank account no only for the goods but also for goods and/or services compromised in any other contracts between the Company and the Customer which have been delivered and or performed. (c) Until payment due from the Customer and the Company has been so received in full: (i) The Customer shall hold the goods upon the trust of the Company. (ii) The Customer shall always keep the goods Comprehensively insured against normal perils and damage. (iii) The Customer shall subrogate to the Company any rights it may or will have respect of insurance monies recoverable from the goods (iv) The Customer shall hold the goods and each of them on a fiduciary basis as bailee for the company and the Customer shall keep the goods in good condition as its own expense (v) The goods shall be held separately from other goods in the Customer’s possession and marked in such a way that they are clearly identified as the Company’s property (vi) The Company shall not pledge, encumber or in a way charge by way of security for any indebtedness any of the goods which are the property of the company (vii) The Customer shall permit any officer, employee, representative or agent of the Company to enter with or without vehicles onto the Customer’s premises or other sites where the goods are located and to inspect and/or repossess the goods, and (viii) Not withstanding that the goods (or any of them) remain the property of the Company the Customer may use or sell the goods in the ordinary course of the Customers business at full market value for the account of the Company. Any such sale or dealing shall be a sale or use of the Company’s property by the Customer on the Customer’s own behalf and the Customer shall deal as principal when making such sales or dealings. Until property in the goods passes from the Company the entire proceeds of sale or otherwise of the goods shall be held in trust for the company and shall be held in trust for the Company and shall not be mixed with any other money or paid into any overdrawn bank account and shall at all material times be identified as the Company’s money.

Reservations of Title. (a) Not withstanding delivery and Ownership of the passing of risk, the property in all the goods delivered by the Company Goods shall not pass to the Customer shall remain vested in until the Company until unconditional payment Seller has received in full is received (in cash or cleared funds) all sums due to it in respect of: • the Goods; and cleared through • all other sums which are or which become due to the Company’s bank account no only for the goods but also for goods and/or services compromised in any other contracts between the Company and the Customer which have been delivered and or performed. (c) Until payment due Seller from the Customer and on any account. Until ownership of the Company Goods has been so received in full: (i) The passed to the Customer, the Customer shall shall: • hold the goods upon the trust of the Company. (ii) The Customer shall always keep the goods Comprehensively insured against normal perils and damage. (iii) The Customer shall subrogate to the Company any rights it may or will have respect of insurance monies recoverable from the goods (iv) The Customer shall hold the goods and each of them Goods on a fiduciary basis as bailee for Seller’s bailee; • store the company and Goods (at no cost to the Seller) separately from all other goods of the Customer shall keep the goods in good condition as its own expense (v) The goods shall be held separately from other goods in the Customer’s possession and marked or any third party in such a way that they are clearly identified remain readily identifi- able as the CompanySeller’s property (vi) The Company shall ; not pledgedestroy, encumber deface or obscure any identifying mark or packaging on or relating to the Goods; and • maintain the Goods in a way charge by way of security satisfactory condition and keep them insured on the Seller’s behalf for any indebtedness any the full price against all risks to the reasonable satisfaction of the goods which are Seller. On request the property Customer shall produce the policy of insurance to the company (vii) Seller. The Customer may resell the Goods before ownership has passed to it solely on the following conditions: • any sale shall permit any officer, employee, representative or agent of the Company to enter with or without vehicles onto the Customer’s premises or other sites where the goods are located and to inspect and/or repossess the goods, and (viii) Not withstanding that the goods (or any of them) remain the property of the Company the Customer may use or sell the goods be effected in the ordinary course of the Customers Customer’s business at full market value for the account of the Company. Any value; • any such sale or dealing shall be a sale or use of the CompanySeller’s property by the Customer on the Customer’s own behalf and the Customer shall deal as principal when making such sales a sale. The Customer’s right to possession of the Goods shall terminate immediately if: • the Customer has a bankruptcy order made against him or dealingsmakes an arrangement or composition with his creditors, or otherwise takes the benefit of any statutory provision for the time being in force for the relief of insolvent debtors, or • (being a body corporate) convenes a meeting of creditors (whether formal or informal), or enters into liquidation (whether voluntary or compulsory) except a solvent voluntary liquidation for the pur- pose only of reconstruction or amalgamation, or • has a receiver and/or manager, administrator or administrative receiver appointed of its undertak- ing or any part thereof, or • documents are filed with the court for the appoint- ment of an administrator of the Customer or notice of intention to appoint an administrator is given by the Customer or its directors or by a qualifying floating charge holder (as defined in paragraph 14 of Schedule B1 to the Insolvency Act 1986), or • a resolution is passed or a petition presented to any court for the winding-up of the Customer or for the granting of an administration order in respect of the Customer, or any proceedings are commenced relat- ing to the insolvency or possible insolvency of the Customer; or • the Customer suffers or allows any execution, whether legal or equitable, to be levied on his/its property or obtained against him/it, or fails to ob- serve or perform any of his/its obligations under the Contract or any other contract between the Seller and the Customer, or • is unable to pay its debts within the meaning of sec- tion 123 of the Insolvency Act 1986 or the Customer ceases to trade; or • the Customer encumbers or in any way charges any of the Goods. Until property The Seller shall be entitled to recover payment for the Goods notwithstanding that ownership of any of the Goods has not passed from the Seller. The Customer grants the Seller, its agents and employees an irrevo- cable licence at any time to enter any premises where the Goods are or may be stored in order to inspect them, or, where the Customer’s right to possession has terminated, to recover them. Where the Seller is unable to determine whether any Goods are the goods in respect of which the Custom- er’s right to possession has terminated, the Customer shall be deemed to have sold all goods of the kind sold by the Seller to the Customer in the goods passes from order in which they were invoiced to the Company the entire proceeds of sale or otherwise Customer. On termination of the goods Contract, howsoever caused, the Seller’s (but not the Customer’s) rights contained in this condition shall be held remain in trust for the company and shall be held in trust for the Company and shall not be mixed with any other money or paid into any overdrawn bank account and shall at all material times be identified as the Company’s moneyeffect.

Reservations of Title. (a) Not withstanding delivery and the passing of risk, the property in all the goods delivered by the Company to the Customer shall remain vested in the Company until unconditional payment in full is received and cleared through the Company’s bank account no only for the goods but also for goods and/or services compromised in any other contracts between the Company and the Customer which have been delivered and or performed. (c) Until payment due from the Customer and the Company has been so received in full: (i) The Customer shall hold the goods upon the trust of the Company. (ii) The Customer shall always at all times keep the goods Comprehensively insured against normal perils and damage. (iii) The Customer shall subrogate to the Company any rights it may or will have respect of insurance monies recoverable from the goods (iv) The Customer shall hold the goods and each of them on a fiduciary basis as bailee for the company and the Customer shall keep the goods in good condition as its own expense (v) The goods shall be held separately from other goods in the Customer’s possession and marked in such a way that they are clearly identified as the Company’s property (vi) The Company shall not pledge, encumber or in a way charge by way of security for any indebtedness any of the goods which are the property of the company (vii) The Customer shall permit any officer, employee, representative or agent of the Company to enter with or without vehicles onto the Customer’s premises or other sites where the goods are located and to inspect and/or repossess the goods, and (viii) Not withstanding that the goods (or any of them) remain the property of the Company the Customer may use or sell the goods in the ordinary course of the Customers business at full market value for the account of the Company. Any such sale or dealing shall be a sale or use of the Company’s property by the Customer on the Customer’s own behalf and the Customer shall deal as principal when making such sales or dealings. Until property in the goods passes from the Company the entire proceeds of sale or otherwise of the goods shall be held in trust for the company and shall be held in trust for the Company and shall not be mixed with any other money or paid into any overdrawn bank account and shall at all material times be identified as the Company’s money.

Reservations of Title. (a) Not withstanding delivery and the passing of risk, the property in all the goods delivered by the Company to the Customer shall remain vested in the Company until unconditional payment in full is received and cleared through the Company’s bank account no not only for the goods but also for goods and/or services compromised in any other contracts between the Company and the Customer which have been delivered and or performed. (c) Until payment due from the Customer and the Company has been so received in full: (i) The Customer shall hold the goods upon the trust of the Company. (ii) The Customer shall always at all times keep the goods Comprehensively comprehensively insured against normal perils and damage. (iii) The Customer shall subrogate to the Company any rights it may or will have respect of insurance monies recoverable from the goods (iv) The Customer shall hold the goods and each of them on a fiduciary basis as bailee for the company and the Customer shall keep the goods in good condition as its own expense (v) The goods shall be held separately from other goods in the Customer’s possession and marked in such a way that they are clearly identified as the Company’s property (vi) The Company shall not pledge, encumber or in a way charge by way of security for any indebtedness any of the goods which are the property of the company (vii) The Customer shall permit any officer, employee, representative or agent of the Company to enter with or without vehicles onto the Customer’s premises or other sites where the goods are located and to inspect and/or repossess the goods, and (viii) Not withstanding that the goods (or any of them) remain the property of the Company the Customer may use or sell the goods in the ordinary course of the Customers business at full market value for the account of the Company. Any such sale or dealing shall be a sale or use of the Company’s property by the Customer on the Customer’s own behalf and the Customer shall deal as principal when making such sales or dealings. Until property in the goods passes from the Company the entire proceeds of sale or otherwise of the goods shall be held in trust for the company and shall be held in trust for the Company and shall not be mixed with any other money or paid into any overdrawn bank account and shall at all material times be identified as the Company’s money.