Examples of Bailed Property in a sentence
Supplier shall bear the risk of loss of and damage to Bailed Property.
Supplier, at its own expense, will manufacture a designated number of sample Products using the Bailed Property in order to successfully complete Buyer’s "Production Part Approval Process" (PPAP) and Supplier will submit a Part Submission Warrant (PSW).
If applicable, Supplier shall have no claim for payment until the Bailed Property is completed and the PSW and any other necessary documentation have been submitted and approved by Buyer or its customer(s) as the case may be.
Bailed Property shall at all times be properly housed, maintained, repaired and replaced by Supplier at Supplier’s expense in good working condition capable of producing Products meeting all applicable specifications.
Supplier will indemnify and defend Buyer against claims or liens adverse to Buyer’s or its customer’s ownership of Bailed Property.