Equipment Lease Agreement

1 Review

Equipment Lease Agreement for use in the United Kingdom (England and Wales).

For Immediate Download

£7.95 Add to Cart
60-Day Money Back Guarantee
Please select a state

File types included

  • Microsoft Word
  • Adobe PDF
  • WordPerfect
  • Rich Text Format

Compatible with

  • Windows
  • Mac OS X
  • Linux

For Immediate Download

£7.95 Add to Cart
60-Day Money Back Guarantee
Please select a state

Lawyer prepared

Our forms are kept up-to-date and accurate by our lawyers

Unlike other sites, every document on FindLegalForms.com is prepared by a lawyer, so you can be sure that you are getting a form that is accurate and valid in the United Kingdom.

Verified in the United Kingdom

Our forms are guaranteed
to be valid in the United Kingdom

Our team works tirelessly to keep our products current. As the laws change in the United Kingdom, so do our forms.

Over 3,500,000
satisfied customers

In over 10 years of creating and selling legal forms, our focus has never changed: providing our customers high quality legal products, low prices and an experience that takes some confusion out of the law.

60-Days Money Back

Try our forms with no risk

If you are unhappy with your form purchase for any reason at all, contact us within 60 days and we will refund 100% of your money back.
Many businesses prefer to lease equipment in order to stay up-to-date with the latest technology and benefit from lower monthly payments and avoiding cash-devouring down payments. An equipment lease agreement is a contract where one party (a `Lessor`) agrees to lease/rent equipment he owns to another party (a `Lessee`) for a specified time.

Every lease agreement is different, in general there several important questions to consider, such as: exactly who will you be dealing with? Is casualty insurance included? Who pays the personal property tax? Who is responsible for repairs?

Both parties must understand and agree to all of those issues, and, more, before making a deal. When and if a problem occurs, both the lessor and lessee can refer to the agreement. What`s needed is a standard lease agreement form that covers all of the matters relating to leasing equipment, but also offers flexibility to tailor the agreement.

With the equipment Lease Agreement package, you`ll have the tools you need including:
(1) Instructions and Checklist for the Equipment Lease Agreement
(2) Information about the Equipment Lease Agreement
(3) The Equipment Lease Agreement

Among others, this form includes the following provisions:
• Equipment description
• Lease Terms
• Lease Payments
• Security Deposit
• Delivery
• Defaults
• Possession and Surrender of Equipment
• How Equipment is to be used
• Condition of Equipment and Repair

This form is designed for use in the United Kingdom (England and Wales).
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.












Equipment Lease Agreement
(England and Wales)










This Packet Includes:
1. Instructions and Checklist
2. General Information
3. Equipment Lease Agreement





Instructions & Checklist
Equipment Lease Agreement


   Both the Lessor and the Lessee should review the Agreement carefully before signing.  

   The Lessor and Lessee must both sign the Agreement.  Generally each party will retain an original signed Agreement; therefore, at least two original copies of the Agreement should be executed (i.e. signed).

   These forms are not intended to be and are not a substitute for legal advice. These forms should only be a starting point for you and should not be used or signed before first consulting with a lawyer to ensure that it addresses your particular situation. A lawyer should be consulted before negotiating any document with another party.

   The purchase and use of these forms is subject to the “Disclaimers and Terms of Use” found at www.findlegalforms.com.




General Information
Equipment Lease Agreement

An equipment lease agreement is a contract where one party (a “Lessor”) agrees to lease/rent equipment he owns to another party (a “Lessee”) for a specified time.  

Having a written equipment lease agreement is beneficial for a number of reasons.  First, it clearly states the terms of the agreement; for example, the duration of the lease agreement; the rental payments, repair liability, etc.  Second, because it is written, it can help the parties avoid misunderstanding in the future.  And, if a problem does occur, it can be easily referenced for guidance or clarification.
 
Before using this form you should always consult with your lawyer to ensure that it addresses you specific situation.





DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice.  The use of these materials is not a substitute for legal advice. Only a lawyer/solicitor/barrister can provide legal advice.  A lawyer/solicitor/barrister should be consulted for all serious legal matters.  No Lawyer-Client / Solicitor-Client relationship is created by use of these materials.  
THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. 

The use of these materials is subject to the “Terms and Conditions” found at findlegalforms.com. 






Equipment Lease Agreement

This Equipment Lease Agreement (the “Agreement”) is made and entered on _____________________________________________, ___________, by and between _________________________________________ (“Lessor”) and _______________________________________ (“Lessee”) (collectively referred to as the “Parties”).

The Parties agree as follows:

1.  EQUIPMENT: Lessor hereby leases to Lessee the following equipment:
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
(the “Equipment”).

2. LEASE TERM:  The lease will start on __________________________ (begin date) and will end on _________________________ (end date) (Lease Term).

3.  LEASE PAYMENTS: Lessee agrees to pay to Lessor as rent for the Equipment the amount of £_________ (“Rent”) each month in advance on the first day of each month at: __________________________________________________ (address for rent payment) or at any other address designated by Lessor. If the Lease Term does not start on the first day of the month or end on the last day of a month, the rent will be prorated accordingly. Value Added Tax (VAT) is applicable and chargeable by law on all monthly Rent payments at the current rate of _______[ mention current rate]

4.  LATE CHARGES: If any amount under this Agreement is more than _____ days late,  Lessor shall be entitled to reparation in accordance with the Late Payment of Commercial Debt (Interest) Terms Act of 1998 as modified in 2002. The interest due and payable on the outstanding amount will be calculated on a daily basis at a rate ______% [mention rate] above that of the current base lending rate of Lessors bank. In addition, Lessor reserves the right to recover in full any additional costs incurred in the pursuit of such late payments.  

5.  SECURITY DEPOSIT: Prior to taking possession of the Equipment, Lessee shall deposit with Lessor, in trust, a security deposit of £__________ as security for the performance by Lessee of the terms under this Agreement and for any damages caused by Lessee or Lessees agents to the Equipment during the Lease Term.  Lessor may use part or all of the security deposit to repair any damage to Equipment caused by Lessee or Lessees agents. However, Lessor is not just limited to the security deposit amount and Lessee remains liable for any balance. Lessee shall not apply or deduct any portion of any security deposit from the last or any month's rent. Lessee shall not use or apply any such security deposit at any time in lieu of payment of rent. If Lessee breaches any terms or conditions of this Agreement, Lessee shall forfeit any deposit, as permitted by law.

6.  DELIVERY:  Lessee [_] shall or [_] shall not [choose one] be responsible for all expenses and costs: i) at the beginning of the Lease Term, of shipping the Equipment to Lessees premises and ii) at the end of the Lease Term, of shipping the Equipment back to Lessors premises.

7.  DEFAULTS: If Lessee fails to perform or fulfil any obligation under this Agreement, Lessee shall be in default of this Agreement. Subject to any provision of law to the contrary notwithstanding, Lessee shall have seven (7) days from the date of notice of default by Lessor to cure the default. In the event Lessee does not cure a default, Lessor may at Lessors option (a) cure such default and the cost of such action may be added to Lessees financial obligations under this Agreement; or (b) declare Lessee in default of the Agreement.  If Lessee shall become insolvent, cease to do business as a going concern or if a petition has been filed by or against Lessee under the Insolvency Act 1986 or similar statutes, acts or regulations, Lessor may immediately declare Lessee in default of this Agreement.  In the event of default, Lessor may, as permitted by law, re-take possession of the Equipment.  Lessor may, at its option, hold Lessee liable for any difference between the Rent that would have been payable under this Agreement during the balance of the unexpired term and any rent paid by any successive lessee if the Equipment is re-let minus the cost and expenses of such reletting. In the event Lessor is unable to re-let the Equipment during any remaining term of this Agreement, after default by Lessee, Lessor may at its option hold Lessee liable for the balance of the unpaid rent under this Agreement if this Agreement had continued in force.

8.  POSSESSION AND SURRENDER OF EQUIPMENT: Lessee shall be entitled to possession of the Equipment on the first day of the Lease Term. At the expiration of the Lease Term, Lessee shall surrender the Equipment to Lessor by delivering the Equipment to Lessor or Lessors agent in good condition and working order, ordinary wear and tear excepted, as it was at the commencement of the Agreement.

9.  USE OF EQUIPMENT: Lessee shall only use the Equipment in a careful and proper manner and will comply with all applicable laws, rules, statutes, regulations and orders regarding the use, maintenance of storage of the Equipment.  

10. CONDITION OF EQUIPMENT AND REPAIR: Lessee or Lessees agent has inspected the Equipment and acknowledges that the Equipment is in good and acceptable condition.

11. MAINTENANCE, DAMAGE AND LOSS: Lessee will, at Lessee's sole expense, keep the Equipment in good condition and repair (fair wear and tear excepted) throughout the Lease Term, and will be liable for the costs and expenses of maintaining and repairing the Equipment, and of consumable items and accessories required for the use of the Equipment during the Lease Term.. Risk of any loss or damage to the Equipment will become the responsibility of the Lessee. In the event the Equipment is lost or damaged beyond repair, Lessee shall pay to Lessor the replacement cost of the Equipment; in addition, the obligations of this Agreement shall continue in full force and effect through the Lease Term. The Lessee will not carry out or allow to be carried out any structural modifications to the Equipment without the prior agreement of the Lessor.


12. INSURANCE: Lessee will insure the Equipment for its full re-instatement value. Lessee shall be responsible to maintain insurance on the Equipment with losses payable to Lessor against fire, theft, collision, and other such risks as are appropriate and specified by Lessor.  Upon request by Lessor, Lessee shall provide proof of such insurance.  

The Lessee shall punctually pay all premiums necessary to keep current the insurances required by under this Clause and shall provide the Lessor upon request with satisfactory evidence with respect to those insurances. The Lessee may not at any time do or permit anything to be done to the Equipment, or use, modify or otherwise affect the Equipment, if this could render void or voidable any of the insurances required under this Clause. The Lessee shall not use, operate or hold the Equipment during any period in which insurances are not maintained in accordance with this Clause or in any area which is excluded from the coverage of the insurances nor cause or permit the Equipment to be used, operated or held in any place or manner for any purpose inconsistent with the terms of, or otherwise outside the cover provided under, insurances then in effect in accordance with this clause.



13. CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999:    A person who is not a party to this Agreement may not enforce any of its terms under the Contracts (Rights of Third Parties) Act 1999.  

14. LIABILTY: Lessor warrants that the Equipment will be in working order when it is delivered to the Lessee but Lessor has no control over the operation of any external conditions or any other equipment, or machine used along with Equipment.
Or
[The Lessor makes no representation and gives no warranty, condition or undertaking in relation to the Equipment.]  
Subject to the paragraph below, the liability of either party to the other for any breach of this Agreement, any negligence or arising in any other way out of the subject matter of this Agreement and the Equipment, will not extend to any indirect damages or losses, or any loss of profits, loss of revenue, loss of data, loss of contracts or opportunity, whether direct or indirect, even if the party bringing the claim has advised the other of the possibility of those losses or if they were within the other party's contemplation.
The entire liability of either party to the other, whether in contract, tort or otherwise, shall be limited to the total of the Rent actually paid to Lessor at the date the claim arose. Nothing in this Section 14 shall apply so as to limit or exclude either partys liability for: (a) death or personal injury resulting from Lessors negligence; (b) any fraud or for any sort of liability that, by law, cannot be limited or excluded; or (c) any loss or damage caused by a deliberate breach of this Agreement;
Lessor shall not be liable to the Lessee for any breach of its obligations under this Agreement, in tort or otherwise if such breach is caused by circumstances beyond its reasonable control.
The express undertakings and warranties given by the parties in this Agreement are in lieu of all other warranties, conditions, terms, undertakings and obligations, whether express or implied by statute, common law, custom, trade usage, course of dealing or in any other way.  All of these are excluded to the fullest extent permitted by law.

15. ENCUMBRANCES, TAXES AND OTHER LAWS:  Lessee shall keep the Equipment free and clear of any liens or other encumbrances, and shall not permit any act where Lessors title or rights may be negatively affected.  Lessee shall be responsible for complying with and conforming to all laws and regulations relating to the possession, use or maintenance of the Equipment.  Furthermore, Lessee shall promptly pay all taxes, fees, licenses and governmental charges, together with any penalties or interest thereon, relating to the possession, use or maintenance of the Equipment.

16.  LESSORS REPRESENTATIONS:  Lessor represents and warrants that he/she has the right to lease the Equipment as provided in this Agreement and that Lessee shall be entitled to quietly hold and possess the Equipment, and Lessor will not interfere with that right as long as Lessee pays the Rent in a timely manner and performs all other obligations under this Agreement.

17. OWNERSHIP:  The Equipment is and shall remain the exclusive property of Lessor.
 
18. SEVERABILITY: If any part or parts of this Agreement shall be held unenforceable for any reason, the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited.

19. ASSIGNMENT:  Neither this Agreement nor Lessees rights hereunder are assignable except with Lessors prior, written consent.  

20. BINDING EFFECT: The covenants and conditions contained in the Agreement shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties.

21. GOVERNING LAW: This Agreement shall be governed by and construed in accordance with the laws of England and Wales. The English Courts will have exclusive jurisdiction to deal with any dispute which has arisen or may arise out of, or in connection with, this Agreement, except that either party may bring proceedings for an injunction in any jurisdiction.

22. NOTICE: Any notice required or otherwise given pursuant to this Agreement shall be in writing and mailed first class post, or delivered by overnight delivery service to:

Lessor:                  Lessee:

______________________________   ______________________________
______________________________   ______________________________
______________________________   ______________________________


 Either party may change such addresses from time to time by providing notice as set forth above.

23. ENTIRE AGREEMENT: This Agreement constitutes the entire agreement between the Parties and supersedes any prior understanding or representation of any kind preceding the date of this Agreement. There are no other promises, conditions, understandings or other agreements, whether oral or written, relating to the subject matter of this Agreement. This Agreement may be modified in writing and must be signed by both Lessor and Lessee.

24. CUMULATIVE RIGHTS: Lessors and Lessees rights under this Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law.

25. WAIVER: The failure of either party to enforce any provisions of this Agreement shall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. The acceptance of rent by Lessor does not waive Lessors right to enforce any provisions of this Agreement.

26. INDEMNIFICATION: Except for damages, claims or losses due to Lessors acts or negligence, Lessee, to the extent permitted by law, will indemnify and hold Lessor and Lessors property, free and harmless from any liability for losses, claims, injury to or death of any person, including Lessee, or for damage to property arising from Lessee using and possessing the Equipment or from the acts or omissions of any person or persons, including Lessee, using or possessing the Equipment with Lessees express or implied consent.


27. ADDITIONAL TERMS & CONDITIONS (Specify “none” if there are no additional provisions)
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed the day and year first above written.

LESSOR:

___________________________________

___________________________________
(Name)
___________________________________
(Position, if applicable)


LESSEE:

___________________________________

___________________________________
(Name)
___________________________________
(Position, if applicable)


Number of Pages9
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#32651
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.












Equipment Lease Agreement
(England and Wales)










This Packet Includes:
1. Instructions and Checklist
2. General Information
3. Equipment Lease Agreement





Instructions & Checklist
Equipment Lease Agreement


   Both the Lessor and the Lessee should review the Agreement carefully before signing.  

   The Lessor and Lessee must both sign the Agreement.  Generally each party will retain an original signed Agreement; therefore, at least two original copies of the Agreement should be executed (i.e. signed).

   These forms are not intended to be and are not a substitute for legal advice. These forms should only be a starting point for you and should not be used or signed before first consulting with a lawyer to ensure that it addresses your particular situation. A lawyer should be consulted before negotiating any document with another party.

   The purchase and use of these forms is subject to the “Disclaimers and Terms of Use” found at www.findlegalforms.com.




General Information
Equipment Lease Agreement

An equipment lease agreement is a contract where one party (a “Lessor”) agrees to lease/rent equipment he owns to another party (a “Lessee”) for a specified time.  

Having a written equipment lease agreement is beneficial for a number of reasons.  First, it clearly states the terms of the agreement; for example, the duration of the lease agreement; the rental payments, repair liability, etc.  Second, because it is written, it can help the parties avoid misunderstanding in the future.  And, if a problem does occur, it can be easily referenced for guidance or clarification.
 
Before using this form you should always consult with your lawyer to ensure that it addresses you specific situation.





DISCLAIMER:

FindLegalForms, Inc. (“FLF”) is not a law firm and does not provide legal advice.  The use of these materials is not a substitute for legal advice. Only a lawyer/solicitor/barrister can provide legal advice.  A lawyer/solicitor/barrister should be consulted for all serious legal matters.  No Lawyer-Client / Solicitor-Client relationship is created by use of these materials.  
THESE MATERIALS ARE PROVIDED “AS-IS.  FLF DOES NOT GIVE ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY OR COMPLETENESS FOR ANY OF THE MATERIALS FOR YOUR PARTICULAR NEEDS.  THE MATERIALS ARE USED AT YOUR OWN RISK.  IN NO EVENT WILL:  I) FLF, ITS AGENTS, PARTNERS, OR AFFILIATES; OR II) THE PROVIDERS, AUTHORS OR PUBLISHERS OF ITS MATERIALS, BE RESPONSIBLE OR LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATE OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER USED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THESE MATERIALS. 

The use of these materials is subject to the “Terms and Conditions” found at findlegalforms.com. 






Equipment Lease Agreement

This Equipment Lease Agreement (the “Agreement”) is made and entered on _____________________________________________, ___________, by and between _________________________________________ (“Lessor”) and _______________________________________ (“Lessee”) (collectively referred to as the “Parties”).

The Parties agree as follows:

1.  EQUIPMENT: Lessor hereby leases to Lessee the following equipment:
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
(the “Equipment”).

2. LEASE TERM:  The lease will start on __________________________ (begin date) and will end on _________________________ (end date) (Lease Term).

3.  LEASE PAYMENTS: Lessee agrees to pay to Lessor as rent for the Equipment the amount of £_________ (“Rent”) each month in advance on the first day of each month at: __________________________________________________ (address for rent payment) or at any other address designated by Lessor. If the Lease Term does not start on the first day of the month or end on the last day of a month, the rent will be prorated accordingly. Value Added Tax (VAT) is applicable and chargeable by law on all monthly Rent payments at the current rate of _______[ mention current rate]

4.  LATE CHARGES: If any amount under this Agreement is more than _____ days late,  Lessor shall be entitled to reparation in accordance with the Late Payment of Commercial Debt (Interest) Terms Act of 1998 as modified in 2002. The interest due and payable on the outstanding amount will be calculated on a daily basis at a rate ______% [mention rate] above that of the current base lending rate of Lessors bank. In addition, Lessor reserves the right to recover in full any additional costs incurred in the pursuit of such late payments.  

5.  SECURITY DEPOSIT: Prior to taking possession of the Equipment, Lessee shall deposit with Lessor, in trust, a security deposit of £__________ as security for the performance by Lessee of the terms under this Agreement and for any damages caused by Lessee or Lessees agents to the Equipment during the Lease Term.  Lessor may use part or all of the security deposit to repair any damage to Equipment caused by Lessee or Lessees agents. However, Lessor is not just limited to the security deposit amount and Lessee remains liable for any balance. Lessee shall not apply or deduct any portion of any security deposit from the last or any month's rent. Lessee shall not use or apply any such security deposit at any time in lieu of payment of rent. If Lessee breaches any terms or conditions of this Agreement, Lessee shall forfeit any deposit, as permitted by law.

6.  DELIVERY:  Lessee [_] shall or [_] shall not [choose one] be responsible for all expenses and costs: i) at the beginning of the Lease Term, of shipping the Equipment to Lessees premises and ii) at the end of the Lease Term, of shipping the Equipment back to Lessors premises.

7.  DEFAULTS: If Lessee fails to perform or fulfil any obligation under this Agreement, Lessee shall be in default of this Agreement. Subject to any provision of law to the contrary notwithstanding, Lessee shall have seven (7) days from the date of notice of default by Lessor to cure the default. In the event Lessee does not cure a default, Lessor may at Lessors option (a) cure such default and the cost of such action may be added to Lessees financial obligations under this Agreement; or (b) declare Lessee in default of the Agreement.  If Lessee shall become insolvent, cease to do business as a going concern or if a petition has been filed by or against Lessee under the Insolvency Act 1986 or similar statutes, acts or regulations, Lessor may immediately declare Lessee in default of this Agreement.  In the event of default, Lessor may, as permitted by law, re-take possession of the Equipment.  Lessor may, at its option, hold Lessee liable for any difference between the Rent that would have been payable under this Agreement during the balance of the unexpired term and any rent paid by any successive lessee if the Equipment is re-let minus the cost and expenses of such reletting. In the event Lessor is unable to re-let the Equipment during any remaining term of this Agreement, after default by Lessee, Lessor may at its option hold Lessee liable for the balance of the unpaid rent under this Agreement if this Agreement had continued in force.

8.  POSSESSION AND SURRENDER OF EQUIPMENT: Lessee shall be entitled to possession of the Equipment on the first day of the Lease Term. At the expiration of the Lease Term, Lessee shall surrender the Equipment to Lessor by delivering the Equipment to Lessor or Lessors agent in good condition and working order, ordinary wear and tear excepted, as it was at the commencement of the Agreement.

9.  USE OF EQUIPMENT: Lessee shall only use the Equipment in a careful and proper manner and will comply with all applicable laws, rules, statutes, regulations and orders regarding the use, maintenance of storage of the Equipment.  

10. CONDITION OF EQUIPMENT AND REPAIR: Lessee or Lessees agent has inspected the Equipment and acknowledges that the Equipment is in good and acceptable condition.

11. MAINTENANCE, DAMAGE AND LOSS: Lessee will, at Lessee's sole expense, keep the Equipment in good condition and repair (fair wear and tear excepted) throughout the Lease Term, and will be liable for the costs and expenses of maintaining and repairing the Equipment, and of consumable items and accessories required for the use of the Equipment during the Lease Term.. Risk of any loss or damage to the Equipment will become the responsibility of the Lessee. In the event the Equipment is lost or damaged beyond repair, Lessee shall pay to Lessor the replacement cost of the Equipment; in addition, the obligations of this Agreement shall continue in full force and effect through the Lease Term. The Lessee will not carry out or allow to be carried out any structural modifications to the Equipment without the prior agreement of the Lessor.


12. INSURANCE: Lessee will insure the Equipment for its full re-instatement value. Lessee shall be responsible to maintain insurance on the Equipment with losses payable to Lessor against fire, theft, collision, and other such risks as are appropriate and specified by Lessor.  Upon request by Lessor, Lessee shall provide proof of such insurance.  

The Lessee shall punctually pay all premiums necessary to keep current the insurances required by under this Clause and shall provide the Lessor upon request with satisfactory evidence with respect to those insurances. The Lessee may not at any time do or permit anything to be done to the Equipment, or use, modify or otherwise affect the Equipment, if this could render void or voidable any of the insurances required under this Clause. The Lessee shall not use, operate or hold the Equipment during any period in which insurances are not maintained in accordance with this Clause or in any area which is excluded from the coverage of the insurances nor cause or permit the Equipment to be used, operated or held in any place or manner for any purpose inconsistent with the terms of, or otherwise outside the cover provided under, insurances then in effect in accordance with this clause.



13. CONTRACTS (RIGHTS OF THIRD PARTIES) ACT 1999:    A person who is not a party to this Agreement may not enforce any of its terms under the Contracts (Rights of Third Parties) Act 1999.  

14. LIABILTY: Lessor warrants that the Equipment will be in working order when it is delivered to the Lessee but Lessor has no control over the operation of any external conditions or any other equipment, or machine used along with Equipment.
Or
[The Lessor makes no representation and gives no warranty, condition or undertaking in relation to the Equipment.]  
Subject to the paragraph below, the liability of either party to the other for any breach of this Agreement, any negligence or arising in any other way out of the subject matter of this Agreement and the Equipment, will not extend to any indirect damages or losses, or any loss of profits, loss of revenue, loss of data, loss of contracts or opportunity, whether direct or indirect, even if the party bringing the claim has advised the other of the possibility of those losses or if they were within the other party's contemplation.
The entire liability of either party to the other, whether in contract, tort or otherwise, shall be limited to the total of the Rent actually paid to Lessor at the date the claim arose. Nothing in this Section 14 shall apply so as to limit or exclude either partys liability for: (a) death or personal injury resulting from Lessors negligence; (b) any fraud or for any sort of liability that, by law, cannot be limited or excluded; or (c) any loss or damage caused by a deliberate breach of this Agreement;
Lessor shall not be liable to the Lessee for any breach of its obligations under this Agreement, in tort or otherwise if such breach is caused by circumstances beyond its reasonable control.
The express undertakings and warranties given by the parties in this Agreement are in lieu of all other warranties, conditions, terms, undertakings and obligations, whether express or implied by statute, common law, custom, trade usage, course of dealing or in any other way.  All of these are excluded to the fullest extent permitted by law.

15. ENCUMBRANCES, TAXES AND OTHER LAWS:  Lessee shall keep the Equipment free and clear of any liens or other encumbrances, and shall not permit any act where Lessors title or rights may be negatively affected.  Lessee shall be responsible for complying with and conforming to all laws and regulations relating to the possession, use or maintenance of the Equipment.  Furthermore, Lessee shall promptly pay all taxes, fees, licenses and governmental charges, together with any penalties or interest thereon, relating to the possession, use or maintenance of the Equipment.

16.  LESSORS REPRESENTATIONS:  Lessor represents and warrants that he/she has the right to lease the Equipment as provided in this Agreement and that Lessee shall be entitled to quietly hold and possess the Equipment, and Lessor will not interfere with that right as long as Lessee pays the Rent in a timely manner and performs all other obligations under this Agreement.

17. OWNERSHIP:  The Equipment is and shall remain the exclusive property of Lessor.
 
18. SEVERABILITY: If any part or parts of this Agreement shall be held unenforceable for any reason, the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited.

19. ASSIGNMENT:  Neither this Agreement nor Lessees rights hereunder are assignable except with Lessors prior, written consent.  

20. BINDING EFFECT: The covenants and conditions contained in the Agreement shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties.

21. GOVERNING LAW: This Agreement shall be governed by and construed in accordance with the laws of England and Wales. The English Courts will have exclusive jurisdiction to deal with any dispute which has arisen or may arise out of, or in connection with, this Agreement, except that either party may bring proceedings for an injunction in any jurisdiction.

22. NOTICE: Any notice required or otherwise given pursuant to this Agreement shall be in writing and mailed first class post, or delivered by overnight delivery service to:

Lessor:                  Lessee:

______________________________   ______________________________
______________________________   ______________________________
______________________________   ______________________________


 Either party may change such addresses from time to time by providing notice as set forth above.

23. ENTIRE AGREEMENT: This Agreement constitutes the entire agreement between the Parties and supersedes any prior understanding or representation of any kind preceding the date of this Agreement. There are no other promises, conditions, understandings or other agreements, whether oral or written, relating to the subject matter of this Agreement. This Agreement may be modified in writing and must be signed by both Lessor and Lessee.

24. CUMULATIVE RIGHTS: Lessors and Lessees rights under this Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law.

25. WAIVER: The failure of either party to enforce any provisions of this Agreement shall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. The acceptance of rent by Lessor does not waive Lessors right to enforce any provisions of this Agreement.

26. INDEMNIFICATION: Except for damages, claims or losses due to Lessors acts or negligence, Lessee, to the extent permitted by law, will indemnify and hold Lessor and Lessors property, free and harmless from any liability for losses, claims, injury to or death of any person, including Lessee, or for damage to property arising from Lessee using and possessing the Equipment or from the acts or omissions of any person or persons, including Lessee, using or possessing the Equipment with Lessees express or implied consent.


27. ADDITIONAL TERMS & CONDITIONS (Specify “none” if there are no additional provisions)
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed the day and year first above written.

LESSOR:

___________________________________

___________________________________
(Name)
___________________________________
(Position, if applicable)


LESSEE:

___________________________________

___________________________________
(Name)
___________________________________
(Position, if applicable)


Customer Reviews

Average Rating: Full Rating Star Full Rating Star Full Rating Star Full Rating Star Full Rating Star

Reviews: 1


Palm Desert,

CA

Full Rating Star Full Rating Star Full Rating Star Full Rating Star Full Rating Star
Wording was straight and clear, plain english yet to the point, we managed to adjust the contract to suit our business needs and I will be looking for other documents in the future


Looking for something else?