Buyer’s Property definition
Examples of Buyer’s Property in a sentence
To the extent any goods contain Embedded Software (defined below) that is not Buyer’s Property, no title to such Embedded Software shall pass to Buyer, and Supplier shall grant Buyer, its customers and all other users a non-exclusive worldwide, irrevocable, perpetual, royalty-free right to use, load, install, execute, demonstrate, market, test, resell, sublicense and distribute such Embedded Software as an integral part of such goods or for servicing the goods (the “Buyer-Required License”).
Prior to using Buyer’s Property, Supplier shall inspect it and train its personnel and other authorized users in its safe and proper operation.
Supplier shall not substitute any other property for Buyer’s Property.
Such Buyer’s Property furnished by Buyer to Supplier shall be accepted by Supplier “AS IS” with all faults and without any warranty whatsoever, express or implied, shall be used by Supplier at its own risk, and shall be subject to removal and/or return at Buyer’s written request.
In the event that the Buyer is not able to sell or close the sale on the Buyer’s Property within the time allowed, this Agreement shall automatically terminated and all funds paid by the Buyer shall be returned to the Buyer after deducting all reasonable costs incurred by the Seller in good faith in relation this Agreement.