Common use of SELLER’S PROPERTY Clause in Contracts

SELLER’S PROPERTY. Unless otherwise agreed to by Xxxxxxxxx and Seller in a written agreement signed by both Seller and Xxxx Corporation’s Vice President – Purchasing, Seller, at its expense: shall (i) furnish, (ii) keep in good condition, and (iii) replace when necessary all Seller's Property (hereinafter defined). Seller hereby grants Purchaser an irrevocable option to purchase, free and clear of all liens, claims and other encumbrances, any or all of Seller's supplies, materials, molds, machinery, equipment, patterns, tools, dies, jigs, fixtures, blueprints, designs, specifications, drawings, photographic negatives and positives, art work, copy layout and other items necessary for the production of the Goods under any Order (collectively, “Seller's Property”) that are specially designed or configured for manufacture or assembly of Goods under the Order upon Purchaser's payment of the unamortized portion of the cost of such items of Seller's Property, less any amounts Purchaser previously has paid to Seller for the cost of such Seller's Property. Seller shall permit Purchaser to audit Seller's records to verify the amount due for any of Seller's Property. This option will not apply to any of Seller's Property that is used by Seller to produce a substantial quantity of like products for other customers of Seller which cannot readily be obtained by Seller's customer(s) from third parties unless, at Purchaser's election upon exercise of the option, Seller assigns to Purchaser and Purchaser or its designee assumes Seller's obligation to produce such products for Seller's other customers using those items of Seller's Property during the period subsequent to the sale of Seller's Property to Purchaser. Seller shall cooperate with Purchaser's reasonable requests for information regarding any such obligation to Seller's other customer(s) and to effect such assignment and assumption. Purchaser's right to exercise the option under this Section 21 is not conditioned on a breach by Seller or Purchaser's termination of the Order.

SELLER’S PROPERTY. Unless otherwise agreed to by Xxxxxxxxx Xxxxx and Seller in a written agreement signed by both Seller and Xxxx Corporation’s Vice President – PurchasingSigned Writing, Seller, at its expense: shall (i) furnish, (ii) keep in good condition, and (iii) replace when necessary all Seller's ’s Property (hereinafter defined). Seller hereby grants Purchaser Buyer an irrevocable option to purchase, free and clear of all liens, claims and other encumbrances, any or all of Seller's ’s supplies, materials, molds, machinery, equipment, patterns, tools, dies, jigs, fixtures, blueprints, designs, specifications, drawings, photographic negatives and positives, art work, copy layout and other items necessary for the production of the Goods Products under any Order Contract (collectively, “Seller's ’s Property”) that are specially designed or configured for manufacture or assembly of Goods Products under the Order Contract upon Purchaser's Buyer’s payment of the unamortized portion of the cost of such items of Seller's ’s Property, less any amounts Purchaser Buyer previously has paid to Seller for the cost of such Seller's ’s Property. Seller shall permit Purchaser Buyer to audit Seller's ’s records to verify the amount due for any of Seller's ’s Property. This option will not apply to any of Seller's ’s Property that is used by Seller to produce a substantial quantity of like products for other customers of Seller which cannot readily be obtained by Seller's ’s customer(s) from third parties unless, at Purchaser's Buyer’s election upon exercise of the option, Seller assigns to Purchaser Buyer and Purchaser Buyer or its designee assumes Seller's ’s obligation to produce such products for Seller's ’s other customers using those items of Seller's ’s Property during the period subsequent to the sale of Seller's ’s Property to PurchaserBuyer. Seller shall cooperate with Purchaser's Buyer’s reasonable requests for information regarding any such obligation obligations to Seller's ’s other customer(s) and to effect such assignment and assumption. Purchaser's Buyer’s right to exercise the option under this Section 21 section is not conditioned on a breach by Seller or Purchaser's Buyer’s termination of the OrderContract.

SELLER’S PROPERTY. Unless otherwise agreed to by Xxxxxxxxx and Seller in a written agreement signed by both Seller and Xxxx Corporation’s Vice President – PurchasingBuyer, Seller, at its expense: , shall (i) furnish, (ii) keep in good condition, and (iii) replace when necessary all Seller's Property (hereinafter defined). Seller hereby grants Purchaser an irrevocable option to purchase, free and clear of all liens, claims and other encumbrances, any or all of Seller's supplies, materials, molds, machinery, equipment, patternstools, toolsjigs, dies, jigsgauges, fixtures, blueprintsmolds, designs, specifications, drawings, photographic negatives and positives, art work, copy layout patterns and other items (“Seller’s Property”) necessary for the production of the Goods under any Order (collectively, “goods. The cost of changes to Seller's Property”) ’s Property necessary to make design and specification changes authorized by Buyer shall be paid for by 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 are specially designed or configured is special for manufacture or assembly of Goods under the Order upon Purchaser's payment production of the unamortized portion goods upon payment to Seller of the cost of such items of Seller's Property, its net book value less any amounts Purchaser that Buyer has previously has paid to Seller for the cost of such Seller's Property. Seller items; provided, however, that this option shall permit Purchaser to audit Seller's records to verify the amount due for any of Seller's Property. This option will not apply to any of if Seller's ’s Property that is used by Seller to produce goods that are the standard stock of Seller or if a substantial quantity of like products for other customers of Seller which cannot readily be obtained by Seller's customer(s) from third parties unless, at Purchaser's election upon exercise of the option, Seller assigns to Purchaser and Purchaser or its designee assumes Seller's obligation to produce such products for Seller's other customers using those items of Seller's Property during the period subsequent to the sale of Seller's Property to Purchaser. Seller shall cooperate with Purchaser's reasonable requests for information regarding any such obligation to Seller's other customer(s) and to effect such assignment and assumption. Purchaser's right to exercise the option under this Section 21 is not conditioned on a breach goods are being sold by Seller or Purchaser's termination of the Orderto others. CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETED ASTERISKS, HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24B-2 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

SELLER’S PROPERTY. Unless otherwise agreed to by Xxxxxxxxx and Seller in a written agreement signed by both Seller and Xxxx Corporation’s Vice President – PurchasingBuyer, Seller, at its expense: , shall (i) furnish, (ii) keep in good condition, and (iii) replace when necessary all Seller's Property (hereinafter defined). Seller hereby grants Purchaser an irrevocable option to purchase, free and clear of all liens, claims and other encumbrances, any or all of Seller's supplies, materials, molds, machinery, equipment, patternstools, toolsjigs, dies, jigsgauges, fixtures, blueprintsmolds, designs, specifications, drawings, photographic negatives and positives, art work, copy layout patterns and other items (“Seller’s Property”) necessary for the production of the Goods under any Order (collectively, “goods. The cost of changes to Seller's Property”) ’s Property necessary to make design and specification changes authorized by Buyer shall be paid for by 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 are specially designed or configured is special for manufacture or assembly of Goods under the Order upon Purchaser's payment production of the unamortized portion goods upon payment to Seller of the cost of such items of Seller's Property, its net book value less any amounts Purchaser that Buyer has previously has paid to Seller for the cost of such Seller's Property. Seller items; provided, however, that this option shall permit Purchaser to audit Seller's records to verify the amount due for any of Seller's Property. This option will not apply to any of if Seller's ’s CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETED ASTERISKS, HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND RULE 24B-2 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. Property that is used by Seller to produce goods that are the standard stock of Seller or if a substantial quantity of like products for other customers of Seller which cannot readily be obtained by Seller's customer(s) from third parties unless, at Purchaser's election upon exercise of the option, Seller assigns to Purchaser and Purchaser or its designee assumes Seller's obligation to produce such products for Seller's other customers using those items of Seller's Property during the period subsequent to the sale of Seller's Property to Purchaser. Seller shall cooperate with Purchaser's reasonable requests for information regarding any such obligation to Seller's other customer(s) and to effect such assignment and assumption. Purchaser's right to exercise the option under this Section 21 is not conditioned on a breach goods are being sold by Seller or Purchaser's termination of the Orderto others.

SELLER’S PROPERTY. Unless otherwise agreed to by Xxxxxxxxx and Buyer, Seller in a written agreement signed by both Seller and Xxxx Corporation’s Vice President – Purchasing, Seller, at its expense: expense shall (i) furnish, (ii) keep in good condition, and (iii) replace when necessary all Seller's Property (hereinafter defined). Seller hereby grants Purchaser an irrevocable option to purchase, free and clear of all liens, claims and other encumbrances, any or all of Seller's supplies, materials, molds, machinery, equipment, patternstools, toolsjigs, dies, jigsgauges, fixtures, blueprintsmolds, designs, specifications, drawings, photographic negatives and positives, art work, copy layout patterns and other items (“Seller’s Property”) necessary for the production of the Goods under any Order (collectively, “goods covered by this contract. The cost of changes to Seller's Property”) ’s Property necessary to make design and specification changes authorized by Buyer shall be paid for by 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 are specially designed or configured is special for manufacture or assembly of Goods under the Order upon Purchaser's payment production of the unamortized portion goods upon payment to Seller of the cost of such items of Seller's Property, its net book value less any amounts Purchaser that Xxxxx has previously has paid to Seller for the cost of such Seller's Property. Seller items, provided, however, that this option shall permit Purchaser to audit Seller's records to verify the amount due for any of Seller's Property. This option will not apply to any of if Seller's ’s Property that is used by Seller to produce goods that are the standard stock of Seller or if a substantial quantity of like products for goods are being sold by Seller to others and such sale is not prohibited by this or any other customers agreement between Buyer and Seller. All tooling, fixtures and gauges must be maintained to the latest engineering revision at all times. With respect to contracts in which Buyer is Bend All Automotive ULC: Tooling purchased will be in accordance with the terms and conditions as specified on the “Tool Consignment Agreement” issued by Buyer; Buyer will provide a weekly consignment consumption report; Seller will maintain title of Seller which cannot readily be obtained by Seller's customer(s) from third parties unless, at Purchaser's election upon exercise ownership of the optioncontractual products in the consignment warehouse until transfer of title to the consigned goods has occurred; a consignment consumption report submitted by Buyer will confirm that the title of transfer has occurred; transfer of title will be deemed to have occurred at such time as the goods have been utilized by Buyer in its production processes; on the basis of the consignment consumption report, Seller assigns to Purchaser and Purchaser or shall issue an invoice as of the day on which the notice was received at the price as applicable on the blanket purchase order; in the presence of its designee assumes Seller's obligation to produce such products for Seller's other customers using those items of Seller's Property during employee, Buyer shall grant the period subsequent Seller access to the sale area where the Seller’s consignment goods are stored, during regular business hours on a pre-agreed date; when visiting the consignment goods storage area, Seller will observe and practice all applicable Buyer Health and Safety policies as defined in form Q4 3037; Seller is entitled to audit the consignment inventory on a monthly basis (if requested) with a minimum of Seller's Property 48-hour notice to Purchaser. Seller shall cooperate with Purchaser's reasonable requests for information regarding arrange; any such obligation to Seller's other customer(s) supplier serial number that is shown on the Buyer Consignment Inventory query and to effect such assignment and assumption. Purchaser's right to exercise the option under this Section 21 is not conditioned on located in the physical consignment storage area will be transferred from consignment inventory to Buyer inventory; an approved Buyer2D label is a breach by Seller or Purchaser's termination pre-requisite of the OrderConsignment Inventory program and are applied as defined in form Q4 3015.