Common use of Retention of Title Clause in Contracts

Retention of Title. 1. The delivered goods remain our property until the fulfilment of all claims arising from the concrete order. We retain title until the fulfilment of all claims due to us from the business relationship with the customer for any legal reason. 2. The customer is obliged to sell the reserved goods only in the ordinary course of business at its normal terms and conditions of business as long as it is not in arrears. It may resell the reserved goods only to the degree that the claim from the resale is passed on to us according to the following Items 3-5. It may not use the reserved goods in another manner. 3. The customer assigns its claims from the resale of reserved goods to us now, regardless of whether the reserved goods are to be sold to one or more buyers. The customer is entitled to collect the assigned claims from a resale until we revoke this right, which may occur at any time. The customer not entitled to assign the claim in any case. 4. Upon our demand, the customer is obliged - insofar as we do not tell its buyers ourselves - to inform the buyer immediately that it has assigned the claims to us, to prove to us that it has informed the buyer, and to send us any information and documents required for the collection of the assigned claimed. 5. Upon customer demand, we are obliged to release the securities when their realizable value exceeds our claim by more than 20%. We reserve the right to select which securities are released. 6. The purchaser is obliged to inform us of an attachment of a claim or other impairment by third parties immediately. If the customer does not meet a payment deadline or violates any other contractual agreements or if circumstances become known to us, which are suited to reduce the customer‘s creditworthiness, we are entitled to forbid the resale of reserved goods, to demand their return or the granting of direct ownership on the cost of the customer, or, if the goods were already sold, but is completely or partially not yet paid, demand payments directly from the customer‘s buyer. 7. If the customer comes into arrears, we retain the right to reclaim the goods and sell them elsewhere on the open market, as well as assume the transfer of third-party claims and collect the claims ourselves. The customer must allow us entry to its premises so that we can recover our goods. 8. The demand for the return of the goods is not considered a rescindment of the contract. We are entitled to use the reserved goods and pay them off to settle the open claims from their proceeds. We are entitled to charge the customer a flat rate sum of 30% of the gross sum issued on the invoice to cover damages. This will be reduced to 25% if the goods are returned in their original packaging. The customer is entitled to prove that the damages were not incurred at all or to the amount of the applicable percentages. 9. The customer is further obliged to insure the reserved goods and is responsible, in accordance with good business practices, to assign us any insurance or compensation claims due to the perishing or deterioration of the reserved goods. 10. In the case of § 947 Section 2 BGB (German Civil Code), the customer transfers the ownership of the product to us in advance in the relation of the material values under agreement of the free storage relationship. This product is thus also considered to be reserved goods.

Retention of Title. 1. The delivered goods remain our property We reserve title to the object of delivery until the fulfilment receipt of all claims arising payments from the concrete ordercontract. We retain If the event of conduct by the contracting party in breach of the contracts, in particular in arrears in payment, we shall be entitled to take the object of delivery back; the purchaser shall be obliged to return it. To the extent that the provisions of the German Civil Code concerning consumers’ loans are not applicable, taking back the object of the delivery shall not portray withdrawal from the contract, unless we have expressly declared this in writing. In the event of pledging and other interventions by third parties, the contracting party shall notify us in writing without delay, so that we can initiate proceedings according to § 771 German Code of Civil Proceedings. In commercial dealings, we reserve title to the object of delivery until the fulfilment receipt of all claims due to us payments from the business relationship with the customer for any legal reason. 2contracting party. The customer retention of title shall then also extend to the acknowledged balance, to the extent that we book claims against the contracting party onto current account (reservation of current account). The contracting party is obliged entitled to sell resell the reserved goods only object of delivery in the ordinary course of business at business; however, it here and now assigns all claims to the amount of the final invoice amount (including VAT) accruing to it against its normal terms and conditions customers or third parties from the resale to us, this being independent of business whether the object of delivery has been resold without or following further processing. The contracting party shall remain entitled to collect this receivable after the assignment. Our authorization to collect the claim ourselves shall remain unaffected; however, we undertake not to collect the receivable as long as it the contracting party properly complies with its payment obligations and is not in arrearsarrears with payment. It may resell However, if this is the reserved goods only to the degree case, we can then demand that the claim from the resale is passed on to contracting party notifies us according to the following Items 3-5. It may not use the reserved goods in another manner. 3. The customer assigns its claims from the resale of reserved goods to us now, regardless of whether the reserved goods are to be sold to one or more buyers. The customer is entitled to collect the assigned claims from a resale until we revoke this rightand their debtors, which may occur at any timegives all the information necessary for the collection, hands over the pertinent documents and notifies the debtors (third parties) of the assignment. The customer Processing or re-shaping of the object of delivery by the contracting party shall always be done on our behalf. If the object of delivery is processed with objects not entitled to assign the claim in any case. 4. Upon our demand, the customer is obliged - insofar as we do not tell its buyers ourselves - to inform the buyer immediately that it has assigned the claims belonging to us, we shall acquire co-ownership of the new object in the ratio of the value of the object of delivery to prove the other processed objects at the time of the processing. In addition, the same shall apply to the object originating from the processing as for the conditional commodities. If the object of delivery is inseparably combined or blended with objects not belonging to us, we shall acquire co-ownership of the new object in the ratio of the value of the object of delivery to the other combined or blended objects at the time of the combination or blending. If the blending or combination has been done such that the contracting party’s object is to be regarded as the main object, it shall be deemed agreed that the purchaser assigns co-ownership to us that it has informed pro rata. The contracting party shall keep the buyer, and to send us any information and documents required for ownership or the collection of the assigned claimed. 5co-ownership on our behalf. Upon customer demand, we are obliged We undertake to release the securities when their realizable accruing to us by request of the contracting party to the extent that the value of our securities exceeds our claim the claims to be secured by more than 20%. We reserve In commercial dealings, the right to select which securities are released. 6goods in our ownership shall be insured by the contracting party against water, theft and breaking and entering during the term of the retention of title. The purchaser is obliged to inform us of an attachment of a claim or other impairment by third parties immediately. If the customer does not meet a payment deadline or violates any other contractual agreements or if circumstances become known rights from this insurance shall be assigned to us, which are suited to reduce the customer‘s creditworthiness, we are entitled to forbid the resale of reserved goods, to demand their return or the granting of direct ownership on the cost of the customer, or, if the goods were already sold, but is completely or partially not yet paid, demand payments directly from the customer‘s buyer. 7. If the customer comes into arrears, we retain the right to reclaim the goods and sell them elsewhere on the open market, as well as assume the transfer of third-party claims and collect the claims ourselves. The customer must allow us entry to its premises so that we can recover our goods. 8. The demand for the return of the goods is not considered a rescindment of the contract. We are entitled to use the reserved goods and pay them off to settle the open claims from their proceeds. We are entitled to charge the customer a flat rate sum of 30% of the gross sum issued on the invoice to cover damages. This will be reduced to 25% if the goods are returned in their original packaging. The customer is entitled to prove that the damages were not incurred at all or to the amount of the applicable percentagesaccept this assignment. 9. The customer is further obliged to insure the reserved goods and is responsible, in accordance with good business practices, to assign us any insurance or compensation claims due to the perishing or deterioration of the reserved goods. 10. In the case of § 947 Section 2 BGB (German Civil Code), the customer transfers the ownership of the product to us in advance in the relation of the material values under agreement of the free storage relationship. This product is thus also considered to be reserved goods.

Retention of Title. 1. ) The delivered goods supplied by us shall remain our property until the fulfilment of purchaser has discharged all claims arising from the concrete order. We retain title until the fulfilment of all claims due to us from the business relationship with the customer for (including any legal reasonoutstanding receivables from current accounts, as well as from refinancing or reverse bills). 2. ) The customer purchaser is obliged entitled to sell resell the reserved goods only in the ordinary course of business at its normal terms and conditions of business as long as it is not in arrearsbusiness. It may resell However, the reserved goods only purchaser cedes to us all claims which he acquires against his customers or third parties from resale up to the degree level of the final gross invoice amount (inc. VAT) of our claim, irrespective of whether the purchased item was resold without processing or after processing. We hereby accept the cession. The purchaser is authorised to collect this claim after assignment. Our authority to collect the claim remains unaffected. However, we undertake not to collect the claim, provided that the claim purchaser fulfils his payment obligations from the resale proceeds, does not default on payment and, in particular, no application to open settlement or insolvency proceedings has been made and there is passed on to no cessation of payment. If this is the case, however, we may demand that the purchaser informs us according to of the following Items 3-5. It may not use assigned claims and their debtors, provides all information necessary for their collection, submits all associated documentation and informs the reserved goods in another mannerdebtors (i.e. the third parties) of the assignment. 3) The processing or transformation of the goods by the purchaser is always on our behalf. In this case, the expectant right of the ordering party to the goods shall continue for the altered object. If the goods are processed with other objects not belonging to us, we acquire co-ownership of the new item in the ratio of the value of the goods (gross end amount including VAT) to the other processed objects at the time of processing. The customer assigns its claims same otherwise applies to the item resulting from the resale processing as does to the goods conditionally delivered by us. If the goods are inseparably mixed with other items that do not belong to us, we shall acquire co-ownership of reserved the new item in the ratio of the value of the goods (gross end amount including VAT) to the other mixed items at the time of mixing. If mixing is carried out in such a way that the object of the purchaser can be regarded as the main object, it is agreed that the purchaser shall assign co-ownership to us now, regardless of whether the reserved goods are to be sold to one or more buyerson a pro-rata basis. The customer is entitled to collect purchaser shall keep the assigned claims from a resale until we revoke this right, which may occur at any time. The customer not entitled to assign the claim solely owned or co-owned object in any casesafe custody for us. 4. Upon our demand, ) At the customer is obliged - insofar as we do not tell its buyers ourselves - to inform the buyer immediately that it has assigned the claims to us, to prove to us that it has informed the buyer, and to send us any information and documents required for the collection request of the assigned claimed. 5. Upon customer demandpurchaser, we are obliged undertake to release the securities when their realizable to which we are entitled insofar as the realisable value of our securities exceeds our claim the claims to be secured by more than 20%. We reserve the right to select ; we shall be responsible for selecting which securities are releasedto release. 6. The purchaser is obliged to inform us of an attachment of a claim or other impairment by third parties immediately. If 5) In the customer does not meet a payment deadline or violates any other contractual agreements or if circumstances become known to us, which are suited to reduce the customer‘s creditworthiness, we are entitled to forbid the resale of reserved goods, to demand their return or the granting of direct ownership on the cost of the customer, or, if the goods were already sold, but is completely or partially not yet paid, demand payments directly from the customer‘s buyer. 7. If the customer comes into arrears, we retain the right to reclaim the goods and sell them elsewhere on the open market, as well as assume the transfer case of third-party claims access to our conditional goods, the purchaser shall undertake to point out our ownership and collect the claims ourselvesto inform us without any delay. The customer must allow us entry to its premises so that we can recover our goodspurchaser shall bear the costs of intervention. 8. The demand for the return of the goods is not considered a rescindment of the contract. We are entitled to use the reserved goods and pay them off to settle the open claims from their proceeds. We are entitled to charge the customer a flat rate sum of 30% of the gross sum issued on the invoice to cover damages. This will be reduced to 25% if the goods are returned in their original packaging. The customer is entitled to prove that the damages were not incurred at all or to the amount of the applicable percentages. 9. The customer is further obliged to insure the reserved goods and is responsible, in accordance with good business practices, to assign us any insurance or compensation claims due to the perishing or deterioration of the reserved goods. 10. In the case of § 947 Section 2 BGB (German Civil Code), the customer transfers the ownership of the product to us in advance in the relation of the material values under agreement of the free storage relationship. This product is thus also considered to be reserved goods.

Retention of Title. 13.1. The delivered All goods remain our property until the fulfilment of all our current and future claims arising from the concrete order. We retain title until the fulfilment of all claims due to us from the purchase and any current business relationship with have been fulfilled, and the payment documents issued for this purpose, including acceptors and finance bills, have been finally honored. 3.2. the goods delivered by us to the customer for any legal reasonunder reservation of title may not be assigned or pledged to third parties as security before full payment of the purchase price. The purchaser must notify us immediately in writing if an application is made to open insolvency proceedings or insofar as third parties (e.g. seizures) have access to the goods belonging to us. 23.3. The customer is obliged entitled – until further notice - to sell dispose of the reserved purchased goods only in the ordinary course of business at its under his normal terms and conditions of business and as long as it he is not in arrears. It may resell the reserved goods only to the degree default, provided that the claim from the resale is passed on to us according to the following Items 3-5. It may not use the reserved goods in another manner. 3. The customer assigns its claims from the resale of reserved goods are transferred to us nowin accordance with No. 5. 3.4. The retention of title also extends to the products created by processing and mixing or combining our goods at their full value, regardless of whether the reserved goods are whereby BTC Engineering shall be deemed to be sold the manufacturer (§ 950 BGB) without being obliged accordingly. If in the case of processing, mixing or combining with goods of third parties their right of ownership remains, we shall acquire co-ownership in proportion to one or more buyersthe invoice values of the processed goods. 3.5. The customer buyer hereby assigns to us by way of security the claims against third parties arising from resale or processing in total or in the amount of any co-ownership share (No. 3). He is entitled authorised to collect the assigned these claims from a resale for our account until we revoke this right, which may occur at any timeour revocation or until his payments to us have ceased. The customer buyer is also not entitled authorised to assign these claims for the purpose of debt collection by way of factoring, unless the obligation of the factor is established at the same time to effect the counter-performance in the amount of our share of the claim in any casedirectly to us for as long as there are claims on our part against the buyer. 43.6. Upon our demand, The exercise of the retention of title does not imply withdrawal from the contract. 3.7. If the customer is obliged - insofar as defaults on payment or fails to meet his obligations under the contract, we do not tell its buyers ourselves - to inform may demand the buyer immediately that it has assigned return of the goods and, after giving at least written notice and a reasonable period of time, sell the goods at the best possible price by private sale, taking into account the proceeds of the sale against the purchase price, or set them off against market or purchase values less reasonable processing costs. 3.8. The goods and the claims replacing them may not be pledged to us, to prove to us that it has informed third parties or assigned or transferred by way of security before our claims have been paid in full. 3.9. If the buyer, and to send us any information and documents required for the collection value of the assigned claimed. 5. Upon customer demand, we are obliged to release the securities when their realizable value exceeds our claim claims by more than 20%. We reserve the right to select which securities are released. 6. The purchaser is obliged to inform us of an attachment of a claim or other impairment by third parties immediately. If the customer does not meet a payment deadline or violates any other contractual agreements or if circumstances become known to us, which are suited to reduce the customer‘s creditworthiness, we are entitled shall release securities of our choice to forbid the resale of reserved goods, to demand their return or the granting of direct ownership on the cost of this extent at the customer, or, if the goods were already sold, but is completely or partially not yet paid, demand payments directly from the customer‘s buyer's request. 7. If the customer comes into arrears, we retain the right to reclaim the goods and sell them elsewhere on the open market, as well as assume the transfer of third-party claims and collect the claims ourselves. The customer must allow us entry to its premises so that we can recover our goods. 8. The demand for the return of the goods is not considered a rescindment of the contract. We are entitled to use the reserved goods and pay them off to settle the open claims from their proceeds. We are entitled to charge the customer a flat rate sum of 30% of the gross sum issued on the invoice to cover damages. This will be reduced to 25% if the goods are returned in their original packaging. The customer is entitled to prove that the damages were not incurred at all or to the amount of the applicable percentages. 9. The customer is further obliged to insure the reserved goods and is responsible, in accordance with good business practices, to assign us any insurance or compensation claims due to the perishing or deterioration of the reserved goods. 10. In the case of § 947 Section 2 BGB (German Civil Code), the customer transfers the ownership of the product to us in advance in the relation of the material values under agreement of the free storage relationship. This product is thus also considered to be reserved goods.

Retention of Title. (1. The delivered ) All goods that we deliver shall remain our property until the fulfilment of such time when all claims arising outstanding accounts from the concrete order. We retain title until the fulfilment of all claims due to us from the business relationship with the customer for any legal reason. 2. The customer is obliged to sell the reserved goods only in the ordinary course of business at its normal terms and conditions of business as long as it is not in arrears. It may resell the reserved goods only to the degree that the claim from the resale is passed on to us according to the following Items 3-5. It may not use the reserved goods in another manner. 3. The customer assigns its claims from the resale of reserved goods to us now, regardless of whether the reserved goods are to be sold to one or more buyers. The customer is entitled to collect the assigned claims from a resale until we revoke this right, which may occur at any time. The customer not entitled to assign the claim in any case. 4. Upon our demand, the customer is obliged - insofar as we do not tell its buyers ourselves - to inform the buyer immediately that it has assigned the claims to us, to prove to us that it has informed the buyer, and to send us any information and documents required for the collection of the assigned claimed. 5. Upon customer demand, we are obliged to release the securities when their realizable value exceeds our claim by more than 20%have been settled. We reserve the right to select which securities exercise our legal right and to take the object of sale back for every action that is contrary to the terms of the contract, in particular, default of payment. We are releasedauthorised to utilize the objects of sale after we have taken them back; the proceeds are to be credited to the customers account - minus fair costs of utilization. 6. (2) The purchaser is obliged to customer shall inform us immediately in writing of an attachment any levies of execution or other interventions of a claim or other impairment by third parties immediately. If the customer does not meet a payment deadline or violates any other contractual agreements or if circumstances become known to usparty, which are suited to reduce the customer‘s creditworthiness, we are entitled to forbid the resale of reserved goods, to demand their return or the granting of direct ownership on the cost of the customer, or, if the goods were already sold, but is completely or partially not yet paid, demand payments directly from the customer‘s buyer. 7. If the customer comes into arrears, we retain the right to reclaim the goods and sell them elsewhere on the open market, as well as assume the transfer of third-party claims and collect the claims ourselves. The customer must allow us entry to its premises so that we can recover our goodssubmit a claim in accordance with § 771 ZPO. If the third party is unable to reimburse us for the legal and extrajudicial costs of such a suit, the customer shall be liable for any loss. 8(3) The customer is authorised to sell the goods to a third party in the normal course of business; however, as of now he already cedes to us his claim to receive payment resulting from the resale to a third party for the total invoice amount (including VAT), regardless of whether or not the object of sale has been resold after work has been done on it or with it. Although the customer has ceded his claim to receive payment to us he still remains empowered to collect the debt from the third party. Our authorisation to collect the debt ourselves remains unaffected by this. However, we obligate ourselves not to collect the debt if the customer fulfils his obligation to pay from the sale, if he is not in default of payment, and especially if no request for a bankruptcy procedure has been filed, or if no cessation of payments is at hand. However, if any of the above is in fact the case, we have the right to demand that the customer makes the ceded debts and their debtors known to us and provides us with all the necessary details and documents. (4) Any work on or modifications to the sold goods by the customer is always done for us. If the goods are processed with other items that are not from us, we shall acquire the right of co- ownership of the new object. The demand for proportion of our right of co-ownership shall be equal to the return ratio of the value of sold goods to the other items making up the new item at the time of manufacturing. The item resulting from this manufacturing that contains our goods is not considered a rescindment otherwise subject to the same reservations as the object of sale. (5) We shall release securities at the request of the contract. We are entitled customer to use the reserved goods and pay them off to settle extent that the open claims from their proceeds. We are entitled to charge the customer a flat rate sum value of 30our securities exceeds more than 20% of the gross sum issued on the invoice actual debts; it is our decision to cover damages. This will be reduced to 25% if the goods are returned in their original packaging. The customer is entitled to prove that the damages were not incurred at all or to the amount of the applicable percentageschoose which securities we release. 9. The customer is further obliged to insure the reserved goods and is responsible, in accordance with good business practices, to assign us any insurance or compensation claims due to the perishing or deterioration of the reserved goods. 10. In the case of § 947 Section 2 BGB (German Civil Code), the customer transfers the ownership of the product to us in advance in the relation of the material values under agreement of the free storage relationship. This product is thus also considered to be reserved goods.

Retention of Title. 18.1. The delivered goods Items supplied by us shall remain our property until the fulfilment of customer has paid for the parts concerned. 8.2. Items delivered by us shall remain our property until the customer has paid all claims arising from the concrete order. We retain title until the fulfilment of all claims due to us from the business relationship with the customer for any legal reason. 2. The customer is obliged to sell the reserved goods only in the ordinary course of business at its normal terms and conditions of business as long as it is not in arrears. It may resell the reserved goods only to the degree that the claim from the resale is passed on to us according to the following Items 3-5. It may not use the reserved goods in another manner. 3. The customer assigns its claims from the resale of reserved goods to us now, regardless of whether the reserved goods are to be sold to one or more buyers. The customer is entitled to collect the assigned claims from a resale until we revoke this right, which may occur at any time. The customer not entitled to assign the claim in any case. 4. Upon our demand, the customer is obliged - insofar as we do not tell its buyers ourselves - to inform the buyer immediately that it has assigned the claims to us, to prove to us that it has informed the buyer, and to send us any information and documents required for the collection of the assigned claimed. 5. Upon customer demand, we are obliged to release the securities when their realizable value exceeds our claim by more than 20%. We reserve the right to select which securities are released. 6. The purchaser is obliged to inform us of an attachment of a claim or other impairment by third parties immediately. If the customer does not meet a payment deadline or violates any other contractual agreements or if circumstances become known to us, which are suited to reduce the customer‘s creditworthiness, we are entitled to forbid the resale of reserved goods, to demand their return or the granting of direct ownership on the cost of the customer, or, if the goods were already sold, but is completely or partially not yet paid, demand payments directly from the customer‘s buyer. 7. If the customer comes into arrears, we retain the right to reclaim the goods and sell them elsewhere on the open market, as well as assume the transfer of third-party claims and collect the claims ourselves. The customer must allow us entry to its premises so that we can recover our goods. 8. The demand for the return of the goods is not considered a rescindment of the contract. We are entitled to use the reserved goods and pay them off to settle the open claims from their proceeds. We are entitled to charge the customer a flat rate sum of 30% of the gross sum issued on the invoice to cover damagesrelationship. This will be reduced also applies to 25% if the goods are returned in their original packaging. The customer is entitled to prove claims that the damages were not incurred at all or to the amount of the applicable percentages. 9. The customer is further obliged to insure the reserved goods and is responsible, in accordance with good business practices, to assign us any insurance or compensation claims due to the perishing or deterioration only arise after delivery of the reserved goods. 108.3. Parts delivered by us to a company in the customer's group of companies shall remain our property until all claims arising from de- liveries to other companies in the group of companies have also been paid. This also applies to claims that only arise after delivery of the reserved goods. If we have concluded a framework agreement with the customer, the retention of title shall in any case also apply to claims against those companies to which the framework agreement applies. 8.4. If the customer defaults on payment, we shall be entitled to take immediate possession of the goods subject to retention of title. For this purpose, the customer hereby grants us the right to enter his com- pany premises and his business premises; if there is no free access, the customer shall open them to us upon request. The customer waives the rights arising from §§ 859, 861 I, 862 BGB. Our demand for the return of pledged goods or collateral property shall only con- stitute a withdrawal from the contract if we expressly declare our with- drawal. We shall be entitled to utilize the item taken back, in particular to sell it in the open market; we shall offset the proceeds from the utilization, less the utilization costs, against the outstanding claims. 8.5. The customer may only resell the parts subject to retention of title in the ordinary course of business. However, the customer hereby as- signs to us by way of security all future claims against his customers arising from the resale until all claims on our part have been settled. The assignment shall take place irrespective of whether the customer processes the goods or not. The customer shall remain authorized to collect this claim even after the assignment. Our authorization to col- lect the claim ourselves remains unaffected. However, we shall not collect the claim as long as the customer is not in default of payment. If the customer defaults on payment, we may demand that he informs us of the assigned claims and their respective debtors, provides all information necessary for collection, hands over the relevant docu- ments to us and informs the debtors of the assignment. 8.6. If the customer processes or transforms the reserved goods, the processing or transformation shall be carried out for us. The item cre- ated by processing or transformation shall also be deemed to be re- served goods. In the case event of § 947 Section 2 BGB (German Civil Code)processing or transformation with other items not owned by us, the customer transfers the we shall be entitled to co-ownership of the product new item in the amount of the share resulting from the ratio of the value of the processed or transformed reserved goods to the value of the new item. The customer shall hold the resulting ownership or co- ownership for us. 8.7. If the reserved goods are inseparably mixed or combined with other movable items not belonging to us, we shall acquire co-owner- ship of the new item in the ratio of the value of the reserved goods to the other mixed or combined items at the time of mixing or combining. If the mixing or combination takes place in such a way that the cus- tomer's item is to be regarded as the main item, it is agreed that the customer shall transfer co-ownership to us in advance in on a pro rata basis. The customer shall hold the relation sole or co-ownership thus created on our be- half. 8.8. If the realizable value of the material values under agreement securities to which we are entitled exceeds the value of the free storage relationship. This product is thus also considered claims to be reserved goodssecured by more than 10%, we undertake to release securities of our choice to the customer.