Common use of Retention of Ownership Clause in Contracts

Retention of Ownership. Goods delivered remain our property until the payment of the full purchase price and other receivables from previous deliveries. They may not be pledged or have their ownership transferred. If the delivered goods are combined with other items, then the Customer relinquishes to us his ownership or, respectively, co-ownership of the new object immediately upon its creation. If the Customer sells the delivered goods, he relinquishes all outstanding claims with all additional rights at the moment of their creation to AXETRIS until payment is made in full. The Customer herewith empowers AXETRIS to have the reservation of property recorded in the appropriate official register at the expense of the Customer.