Examples of Consignment Period in a sentence
The Asset may be covered by Consignee’s insurance during the Consignment Period, but Consignee shall have no obligation to insure the Asset, and Consignor shall bear the entire risk of loss or damage to the Asset at all times prior the purchase of the Asset as provided under the terms of this Agreement.
The parties will mutually determine the return location at least five (5) business days before the end of the Consignment Period.
The Consignment Period shall automatically renew for successive periods of ninety (90) days unless the Asset is withdrawn from consignment for purchase by Consignee pursuant to Section 3 below, or this Agreement is terminated pursuant to Section 8 below.
Notwithstanding the foregoing, if the Offering is fully funded (meaning at least the minimum offering amount has been received in escrow) but has not yet formally closed before the end of the 90-day Consignment Period, the Consignment Period shall, unless otherwise agreed to by the Parties, be deemed to automatically extend through closing of the Offering, after which point the closing of the Purchase will be consummated.
After the Consignment Period, Buyer and the Company, at their sole cost and expense, may dispose of the Consignment Inventory in any reasonable manner they desire and Seller will not be entitled to any proceeds concerning any such disposition.