Common use of Title and Security Interests Clause in Contracts

Title and Security Interests. Title to Goods shall transfer from Contractor to GRTC at GRTC’s Facility. If full or partial payment is made to Contractor prior to the delivery of all Goods hereunder, title to all Goods shall pass to GRTC, and Contractor shall be deemed a bailee of all Goods remaining in its possession, but in no event shall the risk of loss pass to GRTC until the Goods are delivered to the destination specified herein and accepted by GRTC. Additionally, Contractor grants to GRTC a security interest in all such Goods, which security interest shall be in addition to all other rights of GRTC under any purchase order or applicable law, and Contractor agrees to execute financing statements or such other documents as GRTC may reasonably require to perfect and protect that interest.

Title and Security Interests. Title to Goods shall transfer from Contractor to GRTC at GRTC’s Facility. If full or partial payment is made to Contractor prior to the delivery of all Goods hereunder, title to all Goods shall pass to GRTC, and Contractor shall be deemed a bailee of all Goods remaining in its possession, but in no event shall the risk of loss pass to GRTC until the Goods are delivered to the destination specified herein and accepted by GRTC. Additionally, Contractor grants to GRTC a security interest in all such Goods, which security interest shall be in addition to all other rights of GRTC under any purchase order or applicable law, and Contractor agrees to execute financing statements or such other documents as GRTC may reasonably require to perfect perfecting and protect protecting that interest.