TITLE TO RESIDUAL ASSETS. 8.1. Property in the Asset/s as detailed at Annex E (or any part thereof) shall only pass from the Authority to the Contractor when the Contractor enters into a binding agreement to sell the asset/s (or any part of thereof) to a Customer. Once the Contractor and Customer have entered into such an agreement, title of the asset/s (or any part thereof), shall pass to the Contractor. Entry into a sales agreement that is subject to the grant of an export licence (or any other legally required formality prior to export), but which is otherwise binding upon the Contractor and their Customer, shall be considered a binding agreement upon which title in the asset/s shall pass to the Contractor.
Appears in 6 contracts
Samples: Contract for the Disposal of Office Ancillaries, Enabling Contract for Disposal of Office Equipment and Associated Materials and Equipment, Enabling Contract for Disposal of Office Equipment and Associated Materials and Equipment
