Common use of Title to Tangible Personal Property Clause in Contracts

Title to Tangible Personal Property. All tangible personal property produced or acquired under this Agreement shall become the property of the Party that funded such production or acquisition. For any tangible personal property produced or acquired using joint funds, said tangible personal property shall become the property of the U.S. Government. Upon completion of the Cooperative Work performed under this Agreement, each Party shall take possession of its respective property, to the extent that it is accessible, and bear the costs of the removal and transportation to its own facility. Any disposal of property shall be in accordance with applicable Federal, State, and local requirements. The Parties agree that each CubeSat that has been launched pursuant to this Agreement shall be considered as having been destroyed and unrecoverable.

Title to Tangible Personal Property. All tangible personal property produced or acquired under this Agreement AGREEMENT shall become the property of the Party that funded such production or acquisition. For any tangible personal property produced or acquired using joint funds, said tangible personal property shall become the property of the U.S. Government. Upon completion of the Cooperative Work performed under this Agreement, each Party shall take possession of its respective property, to the extent that it is accessible, and bear the costs of the removal and transportation to its own facility. Any disposal of property shall be in accordance with applicable Federal, State, and local requirements. The Parties agree that each CubeSat that has been launched pursuant to this Agreement shall be considered as having been destroyed and unrecoverable.