Common use of TREATMENT OF ASSETS Clause in Contracts

TREATMENT OF ASSETS. a. Title to all property furnished by the AGENCY shall remain in the AGENCY. Title to all property furnished by the CONTRACTOR, for the cost of which the CONTRACTOR is entitled to be reimbursed as a direct item of cost under this contract, shall pass to and vest in the AGENCY upon delivery of such property by the CONTRACTOR. Title to other property, the cost of which is reimbursable to the CONTRACTOR under this contract, shall pass to and vest in the AGENCY upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or (iii) reimbursement of the cost thereof by the AGENCY in whole or in part, whichever first occurs. b. Any property of the AGENCY furnished to the CONTRACTOR shall, unless otherwise provided herein or approved by the AGENCY, be used only for the performance of this contract. c. The CONTRACTOR shall be responsible for any loss or damage to property of the AGENCY that results from the negligence of the CONTRACTOR or which results from the failure on the part of the CONTRACTOR to maintain and administer that property in accordance with sound management practices. d. If any AGENCY property is lost, destroyed or damaged, the CONTRACTOR shall immediately notify the AGENCY and shall take all reasonable steps to protect the property from further damage. e. The CONTRACTOR shall surrender to the AGENCY all property of the AGENCY prior to settlement upon completion, termination or cancellation of this contract f. All reference to the CONTRACTOR under this clause shall also include CONTRACTOR'S employees, agents or SUBCONTRACTORS.

TREATMENT OF ASSETS. a. A. Title to all property furnished by the AGENCY EXCHANGE shall remain in the AGENCYEXCHANGE. Title to all property furnished by the CONTRACTOR, for the cost of which the CONTRACTOR is entitled to be reimbursed as a direct item of cost under this contract, shall pass to and vest in the AGENCY EXCHANGE upon delivery of such property by the CONTRACTOR. Title to other property, the cost of which is reimbursable to the CONTRACTOR under this contract, shall pass to and vest in the AGENCY EXCHANGE upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or (iii) reimbursement of the cost thereof by the AGENCY EXCHANGE in whole or in part, whichever first occurs. b. B. Any property of the AGENCY EXCHANGE furnished to the CONTRACTOR shall, unless otherwise provided herein or approved by the AGENCYEXCHANGE, be used only for the performance of this contract. c. C. The CONTRACTOR shall be responsible for any loss or damage to property of the AGENCY EXCHANGE that results from the negligence of the CONTRACTOR or which results from the failure on the part of the CONTRACTOR to maintain and administer that property in accordance with sound management practices. d. D. If any AGENCY EXCHANGE property is lost, destroyed or damaged, the CONTRACTOR shall immediately notify the AGENCY EXCHANGE and shall take all reasonable steps to protect the property from further damage. e. E. The CONTRACTOR shall surrender to the AGENCY EXCHANGE all property of the AGENCY EXCHANGE prior to settlement upon completion, termination or cancellation of this contract f. F. All reference to the CONTRACTOR under this clause shall also include CONTRACTOR'S employees, agents or SUBCONTRACTORS.

TREATMENT OF ASSETS. a. Title to all property furnished by the AGENCY Purchaser shall remain in the AGENCYPurchaser. Title to all property furnished by the CONTRACTORVendor, for the cost of which the CONTRACTOR Vendor is entitled to be reimbursed as a direct item of cost reimbursement, other than rental payments, under this contractContract, shall pass to and vest in the AGENCY upon delivery of such property by the CONTRACTOR. Title to other property, the cost of which is reimbursable Purchaser pursuant to the CONTRACTOR under section titled Software Ownership. As used in this contractsection Treatment of Assets, shall pass if the “property” is the Vendor’s proprietary, copyrighted works, only the applicable license, not title, is passed to and vest vested in the AGENCY upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or (iii) reimbursement of the cost thereof by the AGENCY in whole or in part, whichever first occurs. b. Purchaser. Any property of the AGENCY Purchaser furnished to the CONTRACTOR Vendor shall, unless otherwise provided herein or approved by the AGENCYPurchaser, be used only for the performance of this contract. c. Contract. The CONTRACTOR Vendor shall be responsible for any loss or damage to property of the AGENCY that Purchaser which results from the negligence of the CONTRACTOR Vendor or which results from the failure on the part of the CONTRACTOR Vendor to maintain and administer that property in accordance with sound management practices. d. If . Upon loss, or destruction of, or damage to any AGENCY property is lost, destroyed or damagedPurchaser property, the CONTRACTOR Vendor shall immediately notify the AGENCY Purchaser thereof and shall take all reasonable steps to protect the that property from further damage. e. . The CONTRACTOR Vendor shall surrender to the AGENCY Purchaser all property of the AGENCY Purchaser prior to settlement upon completion, termination termination, or cancellation of this contract f. Contract. All reference to the CONTRACTOR Vendor under this clause section shall also include CONTRACTOR'S Vendor’s employees, agents agents, or SUBCONTRACTORSSubcontractors.

TREATMENT OF ASSETS. a. Title to all property furnished by the AGENCY shall remain in the AGENCY. Title to all property furnished by the CONTRACTOR, for the cost of which the CONTRACTOR is entitled to be reimbursed as a direct item of cost under this contract, shall pass to and vest in the AGENCY upon delivery of such property by the CONTRACTOR. Title to other property, the cost of which is reimbursable to the CONTRACTOR under this contract, shall pass to and vest in the AGENCY upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or (iii) reimbursement of the cost thereof by the AGENCY in whole or in part, whichever first occurs. b. Any property of the AGENCY furnished to the CONTRACTOR shall, unless otherwise provided herein or approved by the AGENCY, be used only for the performance of this contract. c. The CONTRACTOR shall be responsible for any loss or damage to property of the AGENCY that results from the negligence of the CONTRACTOR or which results from the failure on the part of the CONTRACTOR to maintain and administer that property in accordance with sound management practices. d. If any AGENCY property is lost, destroyed or damaged, the CONTRACTOR shall immediately notify the AGENCY and shall take all reasonable steps to protect the property from further damage. e. The CONTRACTOR shall surrender to the AGENCY all property of the AGENCY prior to settlement upon completion, termination or cancellation of this contract. f. All reference to the CONTRACTOR under this clause shall also include CONTRACTOR'S employees, agents or SUBCONTRACTORS.

TREATMENT OF ASSETS. a. A. Title to all property furnished by the AGENCY shall remain in the AGENCY. Title to all property furnished by the CONTRACTOR, for the cost of which the CONTRACTOR is entitled to be reimbursed as a direct item of cost under this contract, shall pass to and vest in the AGENCY upon delivery of such property by the CONTRACTOR. Title to other property, the cost of which is reimbursable to the CONTRACTOR under this contract, shall pass to and vest in the AGENCY upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or (iii) reimbursement of the cost thereof by the AGENCY in whole or in part, whichever first occurs. b. B. Any property of the AGENCY furnished to the CONTRACTOR shall, unless otherwise provided herein or approved by the AGENCY, be used only for the performance of this contract. c. C. The CONTRACTOR shall be responsible for any loss or damage to property of the AGENCY that results from the negligence of the CONTRACTOR or which results from the failure on the part of the CONTRACTOR to maintain and administer that property in accordance with sound management practices. d. D. If any AGENCY property is lost, destroyed or damaged, the CONTRACTOR shall immediately notify the AGENCY and shall take all reasonable steps to protect the property from further damage. e. E. The CONTRACTOR shall surrender to the AGENCY all property of the AGENCY prior to settlement upon completion, termination or cancellation of this contract f. F. All reference to the CONTRACTOR under this clause shall also include CONTRACTOR'S employees, agents or SUBCONTRACTORS.

TREATMENT OF ASSETS. a. This section is superseded by Program Specific Terms and Conditions #3. Title to all property furnished by the AGENCY COMMERCE shall remain in the AGENCYCOMMERCE. Title to all property furnished by the CONTRACTORGrantee, for the cost of which the CONTRACTOR Grantee is entitled to be reimbursed as a direct item of cost under this contract, shall pass to and vest in the AGENCY COMMERCE upon delivery of such property by the CONTRACTORGrantee. Title to other property, the cost of which is reimbursable to the CONTRACTOR Grantee under this contract, shall pass to and vest in the AGENCY COMMERCE upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or (iii) reimbursement of the cost thereof by the AGENCY COMMERCE in whole or in part, whichever first occurs. b. A. Any property of the AGENCY COMMERCE furnished to the CONTRACTOR Grantee shall, unless otherwise provided herein or approved by the AGENCYCOMMERCE, be used only for the performance of this contract. c. B. The CONTRACTOR Grantee shall be responsible for any loss or damage to property of the AGENCY COMMERCE that results from the negligence of the CONTRACTOR Grantee or which results from the failure on the part of the CONTRACTOR Grantee to maintain and administer that property in accordance with sound management practices. d. C. If any AGENCY COMMERCE property is lost, destroyed or damaged, the CONTRACTOR Grantee shall immediately notify the AGENCY COMMERCE and shall take all reasonable steps to protect the property from further damage. e. D. The CONTRACTOR Grantee shall surrender to the AGENCY COMMERCE all property of the AGENCY COMMERCE prior to settlement upon completion, termination or cancellation of this contract f. contract All reference to the CONTRACTOR Grantee under this clause shall also include CONTRACTOR'S Grantee’s employees, agents or SUBCONTRACTORSSubcontractors.

TREATMENT OF ASSETS. a. Title to all property furnished by the AGENCY shall remain in the AGENCY. Title to all property furnished by the CONTRACTOR, for the cost of which the CONTRACTOR is entitled to be reimbursed as a direct item of cost under this contract, shall pass to and vest in the AGENCY upon delivery of such property by the CONTRACTOR. Title to other property, the cost of which is reimbursable to the CONTRACTOR under this contract, shall pass to and vest in the AGENCY upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or (iii) reimbursement of the cost thereof by the AGENCY in whole or in part, whichever first occurs. b. Any property of the AGENCY furnished to the CONTRACTOR shall, unless otherwise provided herein or approved by the AGENCY, be used only for the performance of this contract. c. The CONTRACTOR shall be responsible for any loss or damage to property of the AGENCY that results from the negligence of the CONTRACTOR or which results from the failure on the part of the CONTRACTOR to maintain and administer that property in accordance with sound management practices. d. If any AGENCY property is lost, destroyed destroyed, or damaged, the CONTRACTOR shall immediately notify the AGENCY and shall take all reasonable steps to protect the property from further damage. e. The CONTRACTOR shall surrender to the AGENCY all property of the AGENCY prior to settlement upon completion, termination termination, or cancellation of this contract. f. All reference to the CONTRACTOR under this clause shall also include CONTRACTOR'S employees, agents agents, or SUBCONTRACTORS.

TREATMENT OF ASSETS. a. Title to all property furnished by the AGENCY shall remain in the AGENCY. Title to all property furnished by the CONTRACTOR, for the cost of which the CONTRACTOR is entitled to be reimbursed as a direct item of cost under this contract, shall pass to and vest in the AGENCY upon delivery of such property by the CONTRACTOR. Title to other property, the cost of which is reimbursable to the CONTRACTOR under this contract, shall pass to and vest in the AGENCY upon upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or or (iii) reimbursement of the cost thereof by the AGENCY in whole or in part, whichever first occurs. b. Any property of the AGENCY furnished to the CONTRACTOR shall, unless otherwise provided herein or approved by the AGENCY, be used only for the performance of this contract. c. The CONTRACTOR shall be responsible for any loss or damage to property of the AGENCY that results from the negligence of the CONTRACTOR or which results from the failure on the part of the CONTRACTOR to maintain and administer that property in accordance with sound management practices. d. If any AGENCY property is lost, destroyed or damaged, the CONTRACTOR shall immediately notify the AGENCY and shall take all reasonable steps to protect the property from further damage. e. The CONTRACTOR shall surrender to the AGENCY all property of the AGENCY prior to settlement upon completion, termination or cancellation of this contract f. All reference to the CONTRACTOR under this clause shall also include CONTRACTOR'S employees, agents or SUBCONTRACTORS.

TREATMENT OF ASSETS. a. Title to all property furnished by the AGENCY EXCHANGE shall remain in the AGENCYEXCHANGE. Title to all property furnished by the CONTRACTOR, for the cost of which the CONTRACTOR is entitled to be reimbursed as a direct item of cost under this contract, shall pass to and vest in the AGENCY EXCHANGE upon delivery of such property by the CONTRACTOR. Title to other property, the cost of which is reimbursable to the CONTRACTOR under this contract, shall pass to and vest in the AGENCY EXCHANGE upon (i) issuance for use of such property in the performance of this contract, or (ii) commencement of use of such property in the performance of this contract, or (iii) reimbursement of the cost thereof by the AGENCY EXCHANGE in whole or in part, whichever first occurs. b. . Any property of the AGENCY EXCHANGE furnished to the CONTRACTOR shall, unless otherwise provided herein or approved by the AGENCYEXCHANGE, be used only for the performance of this contract. c. . The CONTRACTOR shall be responsible for any loss or damage to property of the AGENCY EXCHANGE that results from the negligence of the CONTRACTOR or which results from the failure on the part of the CONTRACTOR to maintain and administer that property in accordance with sound management practices. d. . If any AGENCY EXCHANGE property is lost, destroyed or damaged, the CONTRACTOR shall immediately notify the AGENCY EXCHANGE and shall take all reasonable steps to protect the property from further damage. e. . The CONTRACTOR shall surrender to the AGENCY EXCHANGE all property of the AGENCY EXCHANGE prior to settlement upon completion, termination or cancellation of this contract f. contract All reference to the CONTRACTOR under this clause shall also include CONTRACTOR'S employees, agents or SUBCONTRACTORS.