Common use of Storage of Assets Clause in Contracts

Storage of Assets. The City will arrange for the storage of the Assets [in a manner that preserves their value and utility][in accordance with manufacturer warranty requirements] until such Assets are either incorporated into the Facility or sold in accordance with the provisions of this Agreement. The City will arrange for the insurance of the Assets during any shipment, storage, Facility construction and operation periods having terms and provisions reasonable acceptable to the Attorney General, the Authority and the Department. The City will not grant or permit to be imposed on the Assets any lien or other encumbrance prior to the time the Assets are either incorporated into the Facility or sold in accordance with the provisions of this Agreement.

Storage of Assets. The City will arrange for the storage of the Assets [in a manner that preserves their value and utility][in utility in accordance with manufacturer warranty requirements] requirements until such Assets are either incorporated into the Facility or sold in accordance with the provisions of this Agreement. The City will arrange for the insurance of the Assets during any shipment, storage, Facility construction and operation periods having terms and provisions reasonable acceptable to the Attorney General, the Authority and the Department. The City will not grant or permit to be imposed on the Assets any lien or other encumbrance prior to the time the Assets are either incorporated into the Facility or sold in accordance with the provisions of this Agreement.