Title to Equipment Furnished by Nortel Networks Sample Clauses
The 'Title to Equipment Furnished by Nortel Networks' clause establishes that ownership of any equipment provided by Nortel Networks remains with Nortel until certain conditions are met, such as full payment or completion of contractual obligations. In practice, this means that even if the equipment is delivered and in use by the customer, legal title does not transfer until the agreed terms are satisfied. This clause protects Nortel Networks by ensuring they retain ownership rights and can reclaim the equipment if the customer defaults, thereby mitigating the risk of non-payment or breach of contract.
Title to Equipment Furnished by Nortel Networks. Any equipment loaned by Nortel Networks in connection with the Repair Services described in the Statement of Work, with or without charge to Flextronics, shall be deemed bailed to Flextronics, and title thereto shall at all times remain with Nortel Networks. Upon the earlier of such Nortel Networks request therefore or the completion of the Repair Services, Flextronics shall return, at a commercially reasonable expense and risk borne by Nortel Networks, all such equipment in the same condition as they were when furnished to Flextronics, reasonable wear and tear excepted. Flextronics shall provide Nortel Networks a list of all such equipment in Flextronics’ possession on a quarterly basis.
Title to Equipment Furnished by Nortel Networks. Any equipment loaned by Nortel Networks in connection with the Services, with or without charge to Flextronics, shall be deemed bailed to Flextronics, and title thereto shall at all times remain with Nortel Networks. Upon the earlier of such Nortel Networks request therefore or the completion of the Services, Flextronics shall return, at its expense and risk, all such equipment in the same condition it was when furnished to Flextronics, reasonable wear and tear excepted. Nortel Networks makes no warranties with respect to any equipment loaned by Nortel Networks to Flextronics, whether written or oral, statutory, express or implied including, without limitation, any warranty or merchantability or fitness for a particular purpose.