This EQUIPMENT RENTAL AGREEMENT is entered into on 25 November 2024

Between

(1)            PARTY_1_NAME whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (the "Lessor")

(2)            PARTY_2_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the "Lessee")

Whereas

The Lessor shall rent the Equipment (defined below) to the Lessee shall on the terms and conditions set out below:  

1. Equipment

1.1 The Lessor hereby rents the following equipment to the Lessee:

DESCRIPTION

1.2 The Lessee agrees to use the Equipment for the purpose of PURPOSE

1.3 The Equipment is the property of the Lessor and shall remain the property of the Lessor.

1A. Duration

1A. 1 The Lessor agrees to rent the Equipment to the Lessee for a term of TERM months, commencing on COMMENCEMENT_DATE and expiring on END_DATE. 

1A.2 The Lessor shall pick up the Equipment as per the schedule set out below:

PICKUP_SCHEDULE

2. Rent

2.1 The Rent is CURRENCY RENT payable on a PERIOD basis.

2.2 The Lessee shall make PERIOD payment in full, the Rent is payable on the first day of each period beginning with the first payment on or before COMMENCEMENT_DATE. Without prejudice to any other right or remedy of the Lessor hereunder the Lessee shall pay to the Lessor on-demand daily interest at the rate of two percent (2%) per annum over the best lending rate from time to time in JURISDICTION_STATE in respect of any of the payments not paid on the due date of such payment to the Lessor hereunder and such interest shall be payable from the date upon which such payment ought to have been paid up to the actual date of payment. If the Rent has not been paid for more than 15 days, the Lease can be terminated by the Lessor, who is not required to return the said deposit.

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