Common use of RISK AND TITLE Clause in Contracts

RISK AND TITLE. (a) Risk of damage to or loss of Products will pass to Customer (i) upon delivery by Signify to Customer in accordance with the applicable INCOTERM; or (ii) in the event that Signify Installs Products on-site, unless agreed otherwise, upon delivery on-site. (b) Legal title to Products will pass to Customer only when Signify (or its financiers) has received payment for such Products in full and, to the extent permitted by applicable law, Signify received payment in full of all other amounts due by Customer under any other agreement with Signify (or any of its affiliates). Until legal title to Products has passed to Customer, Customer shall (i) not assimilate, transfer or pledge any of the Products, or grant any right or title in the Products to any third party, except in the normal course of business and against payment or subject to retention of title; and (ii) ensure that the Products remain identifiable as Products owned by Signify. In the event of breach by Customer, Signify may require that Customer return to Signify, at Customer’s cost (including costs for de-installation), all Products in which the title has not yet passed and Customer shall fully cooperate to enable Signify to collect such Products and grant Signify (or its representative) free access to the location of the Products, and other equipment supplied and/or used by Signify in the performance of Services.

RISK AND TITLE. (a) Risk of damage to or loss of Products will pass to Customer (i) upon delivery by Signify to Customer in accordance with the applicable INCOTERM; or (ii) in the event that Signify Installs Products on-site, unless agreed otherwise, upon delivery on-site. (b) Legal title to Products will pass to Customer only when Signify (or its financiers) has received payment for such Products in full and, to the extent permitted by applicable law, Signify received payment in full of all other amounts due by Customer under any other agreement with Signify (or any of its affiliates). Until legal title to Products has passed to Customer, Customer shall (i) not assimilate, transfer or pledge any of the Products, or grant any right or title in the Products to any third party, except in the normal course of business and against payment or subject to retention of title; and (ii) ensure that the Products remain identifiable as Products owned by Signify. In the event of breach by Customer, Signify may require that Customer return to Signify, at Customer’s cost (including costs for de-installation), all Products in which the title has not yet passed passed, and Customer shall fully cooperate to enable Signify to collect such Products and grant Signify (or its representative) free access to the location of the Products, and other equipment supplied and/or used by Signify in the performance of Services.

RISK AND TITLE. (a) Risk of damage to or loss of Products will pass to Customer (i) upon delivery by Signify to Customer in accordance with the applicable INCOTERM; , or (ii) in the event that Signify Installs Products on-site, unless agreed otherwise, upon delivery on-site. (b) Legal title to Products will pass to Customer only when Signify (or its financiers) has received payment for such Products in full and, to the extent permitted by applicable law, Signify received payment in full of all other amounts due by Customer under any other agreement with Signify (or any of its affiliates). Until legal title to Products has passed to Customer, Customer shall shall: (i) not assimilate, ; transfer or pledge any of the Products, Products or grant any right or title in the Products to any third party, except in the normal course of business and against payment or subject to retention of title; and (ii) ensure that the Products remain identifiable as Products owned by Signify. In the event of breach by Customer, Signify may require that Customer return to Signify, at Customer’s cost (including costs for de-installation), all Products in which the title has not yet passed passed, and Customer shall fully cooperate to enable Signify to collect such Products and grant Signify (or its representative) free access to the location of the Products, and other equipment supplied and/or used by Signify in the performance of Services.

RISK AND TITLE. (a) Risk of damage to or loss of Products will pass to Customer (i) upon delivery by Signify to Customer in accordance with the applicable INCOTERM; or (ii) in the event that Signify Installs Products on-site, unless agreed otherwise, upon delivery on-site. (b) Legal title to Products will pass to Customer only when Signify (or its financiers) has received payment for such Products in full and, to the extent permitted by applicable law, Signify received payment in full of all other amounts due by Customer under any other agreement with Signify (or any of its affiliates). Until legal title to Products has passed to Customer, Customer shall (i) not assimilate, transfer or pledge any of the Products, or grant any right or title in the Products to any third party, except in the normal course of business and against payment or subject to retention of title; and (ii) ensure that the Products remain identifiable as Products owned by Signify. In the event of breach by Customer, Signify may require that Customer return to Signify, at Customer’s cost (including costs for de-installation), all Products in which the title has not yet passed and Customer shall fully cooperate to enable Signify to collect such Products and grant Signify (or Signify(or its representative) free access to the location of the Products, and other equipment supplied and/or used by Signify in the performance of Services.