Common use of Risk Transfer Clause in Contracts

Risk Transfer. Risk of loss for all Products stored at Inventory shall pass from XXX to IQE plc on the date of delivery of the Products to Inventory. IQE plc shall be responsible for insuring the Products in Inventory against all risk of loss or damage. IQE plc shall bear the cost of such insurance covering, without limitation, fire, theft and other loss of Products. IQE plc shall submit policies and riders to XXX together with proof of payment of premiums and, at XXX’x request, shall cause XXX to be named as an additional insured under such policies as its interests may appear, with waiver of recourse as appropriate.

Risk Transfer. Risk of loss for all Products stored at Inventory shall pass from XXX AXX to IQE plc on the date of delivery of the Products to Inventory. IQE plc shall be responsible for insuring the Products in Inventory against all risk of loss or damage. IQE plc shall bear the cost of such insurance covering, without limitation, fire, theft and other loss of Products. IQE plc shall submit policies and riders to XXX AXX together with proof of payment of premiums and, at XXX’x AXX’x request, shall cause XXX AXX to be named as an additional insured under such policies as its interests may appear, with waiver of recourse as appropriate.