Common use of Title to Hardware Clause in Contracts

Title to Hardware. Title to the Hardware will remain with Darktrace for the entire Term. Upon termination for any reason, or on expiration of the Term, Customer shall return the Hardware to Darktrace, securely and properly packaged, with carriage (and insurance at Customer’s option) prepaid. Whilst the Hardware is in Customer’s possession, Customer must (a) clearly designate the Hardware as Darktrace’s property; (b) hold the Hardware on a fiduciary basis as Darktrace’s bailee; (c) store and use the Hardware in a proper manner in conditions which adequately protect and preserve the Hardware; (d) insure the Hardware against all risks to its full replacement value; and (e) not sell, charge, pledge, mortgage or otherwise dispose of the Hardware or any part of it or permit any lien to arise over the Hardware (or part thereof) and keep the Hardware free from distress, execution and other legal process.

Title to Hardware. Title to the Hardware will remain with Darktrace for the entire Term. Upon termination for any reason, or on upon expiration of the Term, Customer Partner or End User shall return the Hardware to Darktrace, securely and properly packaged, with carriage (and insurance at CustomerPartner’s option) prepaid. Whilst the Hardware is in CustomerPartner’s possession, Customer Partner must (a) clearly designate the Hardware as Darktrace’s property; (b) hold the Hardware on a fiduciary basis as Darktrace’s bailee; (c) store and use the Hardware in a proper manner in conditions which adequately protect and preserve the Hardware; (d) insure the Hardware against all risks to its full replacement valuevalue against all risks; and (e) not sell, charge, pledge, mortgage or otherwise dispose of the Hardware or any part of it or permit any lien to arise over the Hardware (or part thereof) and keep the Hardware free from distress, execution and other legal process.