Commercial Equipment Lease / Rental Agreement
When to Use this Agreement
Use this agreement when leasing commercial / business equipment or machinery to another party
The Contract includes the following provisions -
- Introduction
- Description of Leased Equipment
- Term of Lease
- Extension of Term
- Rental
- Assignment of Rights by Lessor to Lending Institution
- Defenses, Setoffs, Claims Against Lessor's Assignee
- Ownership of Equipment / Indicia of Lessor's Ownership
- Title to Equipment Unencumbered
- Delivery of Equipment
- Repairs to and Maintenance of Equipment
- Insurance
- Damage to Equipment
- Loss of Equipment
- Lessee to Hold Lessor Harmless From Damages and Claims Arising Out of Use of Equipment
- Taxes, Assessments, Etc., on Equipment
- Limitation on Lessee's Right to Assign, Lease, or Sublet Equipment
- Events Constituting Lessee's Default
- Termination of Lease Upon Lessee's Default--Return of Equipment to Lessor
- Termination of Lease Upon Lessee's Default--Failure of Lessee to Return Equipment
- Events Constituting Lessor's Default
- Termination of Lease Upon Lessor's Default
- Notices
- Termination of Lease
- Rights of Lessor's Assignee
- Separability
- Applicable Law
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