Common use of TITLE TO AND DISPOSITION OF PROPERTY Clause in Contracts

TITLE TO AND DISPOSITION OF PROPERTY. A. Title to Property (USE THIS PARAGRAPH IF NO PROPERTY BEING ACQUIRED OVER $5,000, AND DELETE ATTACHMENT 6 FROM TABLE OF CONTENTS AND AGREEMENT.) No significant items of property are expected to be acquired under this Agreement. Title to each item of property acquired under this Agreement with an acquisition value of $5,000 or less shall vest in the Performer upon acquisition with no further obligation of the Parties unless otherwise determined by the AO. Should any item of property with an acquisition value greater than $5,000 is required, the Performer shall obtain prior written approval of the AO. Title to this property shall also vest in the Performer upon acquisition. The Performer shall be responsible for the maintenance, repair, protection, and preservation of all property at its own expense. The Performer’s deliverable prototype shall not be classified as property.

TITLE TO AND DISPOSITION OF PROPERTY. A. Title to Property (USE THIS PARAGRAPH IF NO PROPERTY BEING ACQUIRED OVER The Performer will acquire property with an acquisition value greater than $5,000, AND DELETE ATTACHMENT 6 FROM TABLE OF CONTENTS AND AGREEMENT.) No significant items of property are expected to be acquired 5,000 under this AgreementAgreement as set forth in this Agreement which is necessary to further the research and development goals of this Program and is not for the direct benefit of the Government. Title to each item this property shall vest in the Performer upon acquisition. Title to any other items of property acquired under this Agreement with an acquisition value of $5,000 or less shall vest in the Performer upon acquisition with no further obligation of the Parties unless otherwise determined by the AOAgreements Officer. Should any other item of property with an acquisition value greater than $5,000 is be required, the Performer shall obtain prior written approval of the AOAgreements Officer. Title to this property shall also vest in the Performer upon acquisition. The Performer shall be responsible for the maintenance, repair, protection, and preservation of all property at its own expense. The Performer’s deliverable prototype shall not be classified as property.