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The Consignment Period shall automatically renew for successive periods of ninety (90) days unless the Asset is withdrawn from consignment for purchase by Consignee pursuant to Section 3 below, or this Agreement is terminated pursuant to Section 8 below.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.
Once the specific quantity and type of consigned commodities and the specific Consignment Period have been selected and the consignment fee determined, such selections shall be irrevocable and binding on Customer and shall obligate Customer to accept the consignment requested from Consignor in the amount and for the Consignment Period specified.