This equipment lease agreement long template has 8 pages and is a MS Word file type listed under our production & operations documents.
Sample of our equipment lease agreement long template:
EQUIPMENT LEASE AGREEMENT This Equipment Lease Agreement is made and effective [DATE], (the "Lease Agreement") BETWEEN: [LESSOR NAME] (the "Lessor"), a corporation organized and existing under the laws of the [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [LESSEE NAME] (the "Lessee"), a corporation organized and existing under the laws of the [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] RECITALS WHEREAS, the Lessor is the owner of certain equipment and software described in Exhibit "A" attached hereto; WHEREAS, Lessee is desirous of availing leasing equipment provided by the Service Provider. WHEREAS, the Lessee agrees to keep and maintain the Equipment only at the location described in Exhibit "B" attached hereto ("Equipment Location"); WHEREAS, Service Provider is a qualified lessor of equipment and maintenance services and is willing to provide such services to Lessee as per the terms herein. WHEREAS, the Lessee agree to comply with all other terms and conditions set forth in this Agreement and to limit use of the Property to the use described in Exhibit "C" attached hereto. NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter set forth, the parties hereto agree as follows: ANNUAL RATE FOR SERVICES The annual rental rate is [AMOUNT] and shall be paid in advance in installments of [Installment Amount] each month, beginning on [Date of First Payment] and on the first day of each succeeding month throughout the term hereof, at [Address for Payments], or at such other place as Lessor may designate from time to time. Any installment payment not made by the [DAY]th day of the month shall be considered overdue and in addition to Lessor's other remedies, Lessor may levy a late payment charge equal to [%] per month on any overdue amount. Maintenance calls Lessor agrees to provide maintenance service including up to [NUMBER] maintenance calls annually and interim calls as required at the installation address specified above on the equipment listed. All charges specified are those currently in effect and are subject to change only at the time of subsequent annual renewal. If the charges are increased, the customer may, as of the effective date of such increase, terminate this Agreement by written notice to the Lessor. Otherwise, the new charges shall become effective upon the date specified in the renewal invoice. This Agreement is limited to equipment regularly operated during a single eight hour shift per day, and all Lessor calls hereunder are restricted to the normal working hours of the Lessor. To cover increased maintenance costs, if any piece of equipment is regularly operated during more than one eight hour shift per day, an increase in Annual Rate will apply as follows: [NUMBER] Shifts [%], [NUMBER] Shifts [%]. All service commenced outside of Lessor's normal working hours will be charged at published rates for service time and expense only. SERVICES The following services are included: [DESCRIBE services and equipment] Optimum performance of the equipment covered by this Agreement can be expected only if supplies provided by, or meeting the specifications of Lessor are used. Lessor shall have full and free access to the equipment to provide service thereon. If persons other than Lessor's representatives perform maintenance or repairs, and as a result further work is required by Lessor to restore the equipment to operating condition, such repairs will be billed at Lessor's published time and material rates then in effect. PAYMENTS For service as specified above on the equipment listed, the undersigned agrees to pay in advance the total annual charge specified below to Lessor, in accordance with the terms specified on the face of the invoice. There shall be added to the charges provided for in this Agreement amounts equal to any taxes, however designated, levied or based on such charges or on this Agreement, or on the services rendered or parts supplied pursuant hereto, including State and Local privilege or excise taxes based on gross revenue, and any taxes or amounts in lieu thereof paid or payable by Lessor in respect of the foregoing, exclusive, however, of taxes based on net income. PLACEMENT OF PROPERTY The Lessor agrees to place the Property (described in Exhibit "A") on temporary loan to the Lessee at the Equipment Location for the limited use by the Lessee within the terms of this Agreement. The Property shall be maintained only at the Equipment Location described in Exhibit "B" and shall not be moved from the Equipment Location without the written consent of the Lessor. The Property shall be delivered back to the Lessor upon demand and without delay following such demand at the expense of the Lessee. If at any time the Lessor delivers additional property to the Lessee, such additional property shall be subject to the terms and conditions of this Agreement unless specifically agreed by the parties in writing. ACCESS TO EQUIPMENT Lessee shall provide Lessor with access to its premises to Lessor or its agents at any time during normal business hours or after normal business hours in the event of a bona fide emergency for the purpose of inspecting, maintaining or otherwise accessing the Property. LIMITATIONS ON USE Lessee shall use the Property only for the purposes described in Exhibit "D" and for no other purpose. Access to the Property shall be limited to the individuals listed in Exhibit "E." NO LIENS OR ENCUMBRANCES Lessee shall not create nor permit any lien, security interest, or other encumbrance of any nature or kind, whether voluntary or involuntary, to attach to the Property
