Equipment Lease Agreement Short Template

This equipment lease agreement short template has 2 pages and is a MS Word file type listed under our production & operations documents.

Sample of our equipment lease agreement short 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: AND: [LESSEE NAME] (the "Lessee"), a corporation organized and existing under the laws of the [STATE/PROVINCE], with its head office located at: WHEREAS, Client is desirous of availing leasing equipment provided by the Service Provider. WHEREAS, Service Provider is a qualified lessor of equipment and maintenance services and is willing to provide such services to Client as per the terms herein. 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