Common use of Returned Goods Clause in Contracts

Returned Goods. Should any goods billed to an account purchased by us either be rejected or returned or be recovered by you through the exercise of the rights of replevin, reclamation or stoppage in transit, or otherwise, you shall immediately pay to us the price we paid you for such account. Until receipt by us of such purchase price, you shall hold such goods in trust for us at your own risk and expense, which goods shall be segregated from all other goods set aside and shall be clearly marked as our property. Upon our request you shall deliver to us all documents of title in your control relating to such goods. In addition to our rights and remedies provided in SECTION 5 with regard to the Collateral, we may take possession of and sell such goods at public or private sale at your expense for the purpose of paying your obligation to us. Such sale shall extinguish your indebtedness to us only to the extent that the net proceeds of the sale are applied thereto. Should you or your agent grant any allowance or rebate, you shall immediately pay us the full amount of such allowance or rebate.

Returned Goods. Should any goods billed to an account purchased by us either be rejected or returned or be recovered by you your through the exercise of the rights of replevin, reclamation or stoppage in transit, or otherwise, you shall immediately pay to us the net sale price we paid you for of such accountgoods. Until receipt by us of such purchase net sale price, you shall hold such goods in trust for us at your own risk and expense, which goods shall be segregated from all other goods set aside and shall be clearly marked as our property. Upon our request you shall deliver to us all documents of title in your control relating to such goods. In addition to our rights and remedies provided in SECTION Section 5 with regard to the Collateral, we may take possession of and sell such goods at public or private sale at your expense for the purpose of paying your obligation to us. Such sale shall extinguish your indebtedness to us only to the extent that the net proceeds of the sale are applied thereto. Should you or your agent grant any allowance or rebate, you shall immediately pay us the full amount of such allowance or rebate.

Returned Goods. Should any goods billed to an account Account purchased by us either be rejected or returned or be recovered by you through the exercise of the rights of replevin, reclamation or stoppage in transit, or otherwise, you shall immediately pay to us the net sale price we paid you for of such accountgoods. Until receipt by us of such purchase net sales price, you shall hold such goods in trust for us at your own risk and expense, which goods shall be segregated from all other goods set aside and shall be clearly marked as our property. Upon our request you shall deliver to us all documents of title in your control relating to such goods. In addition to our rights and remedies provided in SECTION Section 5 above with regard to the Collateral, we may take possession of and all sell such goods at public or private sale at your expense for the purpose of paying your obligation obligations to us. Such sale shall extinguish reduce your indebtedness to us only to the extent that the net proceeds of the sale are applied thereto. Should you or your agent grant any allowance or rebaterebate to any customer, you shall immediately pay us the full amount of such allowance or rebate.