Retention of title

1. We reserve title to the object of purchase until complete payment of the purchase price. Commodities to which (co-)ownership accrues to us shall be called Conditional Commodities hereinafter. In conduct in breach of conduct by Customer, in particular in arrears in payment, we shall be entitled to demand return of Conditional Commodities. Demand of return by us shall only represent withdrawal from the contract if we expressly declare the same in writing. Seizure of Conditional Commodities shall always mean withdrawal from the contract by us. Following return of Conditional Commodities, we shall be entitled to exploit the same, the yield from the exploitation being offset against Customer's liabilities - less suitable costs of the exploitation.
2. Customer shall be obliged to treat Conditional Commodities carefully; in particular, it shall be obliged to insure them adequately at the new value against fire, water and theft damage at its own account. Insofar as maintenance and inspection work is necessary, Customer shall carry it out regularly at its own expense. Customer shall notify us of damage to or destruction of the commodities without delay.
3. In the event of seizures or other interventions of third parties against the commodities, Customer shall notify us in writing with delay. Insofar as the third party is not in a position to reimburse us for the judicial and extra-judicial costs of proceedings, Customer shall be liable for the losses incurred by it.
4. Processing or reformation of the object of purchase by Customer shall be done on our behalf in every case. Insofar as the object of purchase is processed with other objects not belonging to us, we shall acquire co-ownership of the new object in the ratio of the value at the time of the processing of the object of purchase (final invoice amount including Value Added Tax) to the value of the other objects processed. The same shall apply in the event of blending of the object of purchase with objects not in our possession.
5. If retentions of title are not applicable in a foreign state, if the latter's law becomes applicable, or if they need not only contractual agreement, but, for example, also registration, Customer shall be obliged at its own expense to become involved in all measures, in particular to make all the declarations necessary on its part in order to make the retention of title effective or to procure securities equivalent to a retention of title for us.