Title and Risk to Borrowed LNG Sample Clauses

Title and Risk to Borrowed LNG. (a) Title and risk to LNG shall be transferred from the Lender to the Borrower at the time and on the day, on which LNG is allocated to a Borrower, pursuant to the Interconnection Agreement, and the associated Forecast Retainage. (b) The Parties agree that, absent manifest error: the identity of the Lender and Borrower for the purposes of title to LNG and any transfer of title associated with borrowing and lending; and the portion of any Borrowed Inventory assigned to any Lender or Borrower, shall be as set out in the electronic inventory maintained by Terminal Operator.
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Related to Title and Risk to Borrowed LNG

  • Title and Risk 6.1 The risk in the Products shall pass to the Customer on completion of delivery to the Delivery Location. 6.2 Legal and beneficial title to the Products shall not pass to the Customer until the earlier of:‌ (a) Ornua receives payment in full (in cash or cleared funds) for the Products, in which case title to the Products shall pass at the time of payment of all such sums; and (b) the Customer resells the Products, in which case title to the Products shall pass to the Customer at the time specified in clause 6.4. 6.3 Until title to the Products has passed to the Customer, the Customer shall:‌ (a) hold the Products as Ornua’s fiduciary agent and bailee; (b) not pledge or in any way charge by way of security the Products; (c) store the Products separately from all other products held by the Customer so that they remain readily identifiable as Ornua's property; (d) not remove, deface or obscure any identifying mark or packaging on or relating to the Products;‌ (e) maintain the Products in satisfactory condition and keep them insured against all risks for their full price on Ornua's behalf from the date of delivery; (f) notify Ornua immediately if it becomes subject to any of the events listed in clause 17.2(b) or clause 17.2(c); and (g) give Ornua such information relating to the Products as Ornua may require from time to time.‌‌ 6.4 Subject to clause 6.5, the Customer may resell or use the Products in the ordinary course of its business (but not otherwise) before Ornua receives payment for the Products. However, if the Customer resells the Products before that time: (a) it does so as principal and not as Ornua’s agent; and (b) title to the Products shall pass from Ornua to the Customer immediately before the time at which resale by the Customer occurs. 6.5 If before title to the Products passes to the Customer the Customer becomes subject to any of the events listed in clause 17.2(b) or clause 17.2(c), then, without limiting any other right or remedy Ornua may have:‌ (a) the Customer's right to resell Products or use them in the ordinary course of its business ceases immediately; and‌ (b) Ornua may at any time: (i) require the Customer to deliver up all Products in its possession which have not been resold, or irreversibly incorporated into another product; and (ii) if the Customer fails to do so promptly, enter any premises of the Customer or of any third party where the Products are stored in order to recover them.

  • DELIVERY, TITLE AND RISK OF LOSS Unless otherwise specified on the EDDYFI quotation, delivery is FCA (Manufacturing Site). In any case, delivery and risk of loss is in accordance with INCOTERMS 2010. Title to products shall pass to the Customer upon full payment of the invoice(s). In the absence of specific instructions, goods will be shipped via the carrier EDDYFI deems most practical. No claim for error in shipment will be considered unless made within ten (10) days of Customer’s receipt of goods.

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