Common use of SELLER’S PROPERTY Clause in Contracts

SELLER’S PROPERTY. Unless otherwise agreed to in writing by Xxxxx, Seller, at its expense, shall furnish, keep in good condition, and replace when necessary all machinery, equipment, tools, jigs, dies, gauges, fixtures, molds, patterns and other items ("Seller’s Property") necessary for the production of the Goods. The cost of changes to Seller’s Property necessary to make design and specification changes directed by Xxxxx shall be paid for by Buyer after satisfactory evidence of such cost, in such form and detail as Buyer may require, is provided to Buyer. Seller shall insure Seller’s Property with full fire and extended coverage insurance for its replacement value. Seller grants Buyer an irrevocable option to take possession of and title to Seller’s Property that is special for the production of the Goods upon payment to Seller of its net book value, less any amounts that Buyer has previously paid to Seller for the cost of such items; provided, however, that this option shall not apply if Seller’s Property is used to produce Goods that are the standard stock of Seller, or if a substantial quantity of like Goods are being sold by Seller to others.

SELLER’S PROPERTY. (a) Unless otherwise agreed to in writing by Xxxxx, Seller, at its expense, shall furnish, keep in good condition, and replace when necessary all machinery, equipment, tools, jigs, dies, gauges, fixtures, molds, patterns and other items ("Seller’s Property") necessary for the production of the Goods. The cost of changes to Seller’s Property necessary to make design and specification changes directed by Xxxxx shall be paid for by Buyer after satisfactory evidence of such cost, in such form and detail as Buyer may require, is provided to Buyer. Seller shall insure Seller’s Property with full fire and extended coverage insurance for its replacement value. Seller grants Buyer an irrevocable option to take possession of and title to Seller’s Property that is special for the production of the Goods upon payment to Seller of its net book value, less any amounts that Buyer has previously paid to Seller for the cost of such items; provided, however, that this option shall not apply if Seller’s Property is used to produce Goods that are the standard stock of Seller, or if a substantial quantity of like Goods are being sold by Seller to others.

SELLER’S PROPERTY. Unless otherwise agreed to in writing by XxxxxBuyer, Seller, at its expense, shall furnish, keep in good condition, and replace when necessary all machinery, equipment, tools, jigs, dies, gauges, fixtures, molds, patterns and other items ("“Seller’s Property"”) necessary for the production of the Goodsgoods. The cost of changes to Seller’s Property necessary to make design and specification changes directed authorized by Xxxxx Buyer shall be paid for governed by a separate Purchase Order between Buyer after satisfactory evidence of and Seller; otherwise no such cost, in such form and detail as Buyer costs may require, is provided to be imposed on Buyer. Seller shall insure Seller’s Property with full fire and extended coverage insurance for its replacement value. Seller grants Buyer an irrevocable option to take possession of and and/or title to Seller’s Property that is special for the production of the Goods goods upon payment to Seller of its net book value, value less any amounts that Buyer has previously paid to Seller for the cost of such items; provided, however, that this option shall not apply if Seller’s Property is used to produce Goods goods that are the standard stock of Seller, Seller or if a substantial quantity of like Goods goods are being sold by Seller to others.