Common use of Trade-In Equipment Clause in Contracts

Trade-In Equipment. If agreed, the Company may accept the return of a Customer product (Trade-in-Equipment) as part of the Agreement. Customer represents and warrants to the Company that it has the authority to transfer title to the Trade-in-Equipment to the Company and that Customer either: (a) owns all right, title and interest in the Trade-in-Equipment free and clear of any third-party liens, security interests or other encumbrances of any kind (collectively, (“Liens”), or (b) has provided the Company with a written list of all Liens. Further, Customer agrees to obtain, or facilitate the Company obtaining, at Customer’s sole cost and expense, full releases of any Liens prior to surrendering possession of the Trade-in-Equipment to the Company. Customer retains full responsibility for obtaining a release of any Liens, regardless of whether such Liens were disclosed to the Company or not, and Customer agrees to indemnify, defend and hold the Company harmless from any claims by a third party or damages incurred by the Company related to or arising out of any Liens on the Trade-in-Equipment.

Trade-In Equipment. If agreed, the Company may accept the return of a Customer product (Trade-in-Equipment) as part of the Agreement. Customer represents and warrants to the Company that it has the authority to transfer title to the Trade-in-Equipment to the Company and that Customer either: (a) owns all right, title and interest in the Trade-in-Equipment free and clear of any third-party liens, security interests or other encumbrances of any kind (collectively, (“Liens”), or (b) has provided the Company with a written list of all Liens. Further, Customer agrees to obtain, or facilitate the Company obtaining, at Customer’s sole cost and expense, full releases of any Liens prior to surrendering possession of the Trade-in-in- Equipment to the Company. Customer retains full responsibility for obtaining a release of any Liens, regardless of whether such Liens were disclosed to the Company or not, and Customer agrees to indemnify, defend and hold the Company harmless from any claims by a third party or damages incurred by the Company related to or arising out of any Liens on the Trade-in-Equipment.