Passing of Risk definition

Passing of Risk means the point in time when XXXX takes over the risk of accidental loss of or damage to the Deliverables.
Sample 1
Passing of Risk means the point in time when XXXX takes over the risk of acci- dental loss of or damage to the Deliverables.
Sample 1

Examples of Passing of Risk in a sentence

  • The Passing of Risk and the transfer of title shall be in reference with 2010 CIP and in accordance with Appendix I the “Import Agreement”.

  • Passing of Risk means the point at which the buyer will be responsible for the goods.

  • If Customer is an entrepreneur, the validity of any claims based on defects in the Hardware shall become statute-barred one (1) year after the Passing of Risk.

  • Limitation of Warranty / Warranties TeamViewer warrants that the Hardware is free of any material defects and defects of title upon the Passing of Risk.

  • TEMARIO- Sales of Goods: Obligations of the Seller- Sales of Goods: Obligations of the Buyer and Passing of Risk- Sales of Goods: Provisions common to Seller and Buyer.

  • Satım Akdinde Hasarın İntikali [The Passing of Risk in Sales Contract], Ankara 1966, p.

  • Exceptions to the Rule of Passing of Risk in Sales ContractRegulations concerning the passing of risk provided in the article 183 of the Turkish Code of Obligations numbered 818 are not prescriptive.

  • Juana Coetzee, INCOTERMS as a Form of Standardization in International Sales Law: an Analysis of the Interplay Between Mercantile Custom and Substantive Sales Law withSpecific Reference to the Passing of Risk ( PHD thesis, Stellenbosch University 2010)<www.scholar.sun.ac.za/bitstream/handle/10019.1/5222/Coetzee-incoterms-2010>.13.

  • In deviation to section A.2.2 and unless otherwise agreed, the purchase price shall be due for payment upon Passing of Risk.

  • Passing of Risk under the CISGIt is important to identify the exact moment in time that risk passes from the seller to the buyer because if goods are damaged before risk is passed then seller must pay and if goods are damaged after risk is passed then buyer must still pay for the price of the goods.When there is a risk issue, 1st identify which contract is in place to then determine which rule/article applies.

Related to Passing of Risk

  • Date of Commencement of Risk means the date specified in the Schedule (unless the Policyholder is informed otherwise by the Company) from which the risk cover of the Life Assured commences under the Policy.

  • The FA means The Football Association Limited.

  • the FCA means the Financial Conduct Authority;

  • Minimum Extended Summer Resource Requirement means, for Delivery Years through May 31, 2017, the minimum amount of capacity that PJM will seek to procure from Extended Summer Demand Resources and Annual Resources for the PJM Region and for each Locational Deliverability Area for which the Office of the Interconnection is required under Tariff, Attachment DD, section 5.10(a) to establish a separate VRR Curve for such Delivery Year. For the PJM Region, the Minimum Extended Summer Resource Requirement shall be equal to the RTO Reliability Requirement minus [the Limited Demand Resource Reliability Target for the PJM Region in Unforced Capacity]. For an LDA, the Minimum Extended Summer Resource Requirement shall be equal to the LDA Reliability Requirement minus [the LDA CETL] minus [the Limited Demand Resource Reliability Target for such LDA in Unforced Capacity]. The LDA CETL may be adjusted pro rata for the amount of load served under the FRR Alternative.

  • freezing of funds means preventing any move, transfer, alteration, use of, access to, or dealing with funds in any way that would result in any change in their volume, amount, location, ownership, possession, character, destination or other change that would enable the funds to be used, including portfolio management;

  • The final destination, where applicable, means the place named in the SCC.

  • Other Parties shall have the meaning set forth in Section 10.7(c).

  • Dating relationship means a social relationship of a romantic nature. Factors that the court may consider in making this determination include: (a) The length of time the relationship has existed; (b) the nature of the relationship; and (c) the frequency of interaction between the parties.

  • Actual Damages has the meaning set forth in Section 12.4(C).

  • Ninth Amendment Effective Date shall have the meaning provided in the Ninth Amendment.

  • Tenth Amendment Effective Date has the meaning assigned to such term in the Tenth Amendment.

  • PAL effective date generally means the date of issuance of the PAL permit. However, the PAL effective date for an increased PAL is the date any emissions unit that is part of the PAL major modification becomes operational and begins to emit the PAL pollutant.

  • angle of repose means the steepest angle of a surface at which a mass of loose or fragmented material will remain stationary in a pile on the surface, rather than sliding or crumbling away;

  • Defects Liability Period means the warranty period following the taking over, during which the Contractor is responsible for making good, defects and damage in Goods and Services provided, under the Contract.

  • Defects Liability Period (Warranty Period) means the period stated in the Schedule A Special Stipulations, following the taking over, during which the Contractor is responsible for making good defects and damage in accordance with Clause 15.

  • Smuggling of migrants means the procurement, in order to obtain, directly or indirectly, a financial or other material benefit, of the illegal entry of a person into a State Party of which the person is not a national or a permanent resident;

  • Third Amendment Effective Date shall have the meaning provided in the Third Amendment.

  • Eleventh Amendment Effective Date has the meaning set forth in Section 4 of the Eleventh Amendment.

  • Seventh Amendment Effective Date shall have the meaning provided in the Seventh Amendment.

  • The Advance Work Order or “Letter of Intent” means the intention of Purchaser to place the Work Order on the bidder.

  • Breach of Agreement provisions of Section 5(a)(ii) will apply to Party A and will not apply to Party B.

  • Termination for Convenience means the termination of the Trade Contract Agreement or the Trade Contractor Work by the Authority without cause and for the convenience of the Authority as decided in its sole discretion.

  • Amendment No. 8 Effective Date has the meaning assigned to such term in Amendment No. 8.

  • Second Amendment Effective Date has the meaning assigned to such term in the Second Amendment.

  • Fifth Amendment Effective Date shall have the meaning provided in the Fifth Amendment.

  • Maximum extent practicable means the highest level of performance that is achievable but is not equivalent to a performance standard identified in this ordinance as determined in accordance with S. 055 of this ordinance.