Safeguarding Goods Sample Clauses
The Safeguarding Goods clause establishes the obligation of a party, typically the buyer or bailee, to protect and preserve goods that are in their possession but owned by another party. This clause may require the responsible party to store the goods securely, prevent damage or loss, and possibly maintain insurance coverage until the goods are delivered or transferred as agreed. Its core practical function is to allocate responsibility for the care of goods during periods of custody, thereby minimizing the risk of loss or damage and clarifying liability between the parties.
Safeguarding Goods. Customer shall: (a) maintain the Goods in good condition and in a safe location, under environmental conditions as specified in the Documentation and (b) give Oxford such information about the Goods or Software, including information regarding location, condition and maintenance of the Goods and Customer’s compliance with this Agreement, as Oxford may request from time to time.
Safeguarding Goods. You will:
(i) maintain the Goods in good condition and in a safe location, under environmental conditions as specified in the Documentation and on the Oxford Website;
(ii) notify Oxford Nanopore immediately if You become subject to any of the events listed in clause 11 (an “Insolvency Event”) and, if You become subject to any Insolvency Event or Oxford Nanopore reasonably believes that such an event is about to happen and notify You accordingly, then without limiting any other right or remedy Oxford Nanopore may have, Oxford Nanopore may at any time require You to return the Goods to it; and
(iii) give Oxford Nanopore such information about the Goods as Oxford Nanopore may request from time to time.