EQUIPMENT LEASE AGREEMENT

mukiialice64
Agreements
February 22, 2024

EQUIPMENT LEASE AGREEMENT

This Equipment Lease Agreement (“Agreement”) is made and entered into on [INSERT DATE] by and between KKKK, a limited liability company organized and existing under the laws of the State of Wyoming and the United States of America, with offices at [INSERT ADDRESS] (hereinafter “Lessor”), and LLLL a limited liability company organized and existing under the laws of the State of VVVV and the HHHH with offices at [INSERT ADDRESS]  (hereinafter “Lessee”). Also individually referred to as “Party” and collectively as “Parties”.

WHEREAS, the Lessor owns certain DJ equipment listed in Clause I. below;

WHEREAS, the Lessee desires to lease the equipment from the Lessor for the purpose of renting it out to customers; and

WHEREAS, the Lessor desires to lease the equipment to the Lessee on the terms and conditions set forth in this Agreement;

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Parties agree as follows:

  1. EQUIPMENT

 

  1. The Lessor agrees to lease to the Lessee and the Lessee agrees to lease from the Lessor the following equipment (“Equipment”):
  • 4 CDJ 3000:
  • Serial numbers: ……………………………
  • Serial numbers: ……………………………
  • Serial numbers: ……………………………
  • Serial numbers: ……………………………

 

  1. Addendums may be attached to this Agreement to allow for the inclusion of additional or replacement equipment.

 

  1. TERM

The term of this Agreement shall begin on [INSERT START DATE] and end on [INSERT END DATE], unless earlier terminated pursuant to the terms of this Agreement.

  • PAYMENT

 

  1. The Lessee shall pay the Lessor the total revenue generated from the rental of the Equipment.

 

  1. The Lessee shall provide the Lessor with monthly financial statements indicating the total revenue generated by the Equipment.

 

  1. The Lessee shall make payment to the Lessor within ten (10) days of the end of each month.

 

  1. INSURANCE

 

  1. The Lessee shall obtain and maintain during the term of this Agreement, at its own expense, a commercial general liability insurance policy covering bodily injury, property damage, and personal injury liability with limits of not less than [INSERT AMOUNT] per occurrence and [INSERT AMOUNT] in the aggregate.

 

  1. The policy shall name the Lessor as an additional insured and loss payee.

 

  1. The Lessee shall provide the Lessor with a certificate of insurance and shall provide notice to the Lessor of any material change in the insurance coverage.

 

  1. INTELLECTUAL PROPERTY

The Lessee acknowledges that the Lessor owns all right, title, and interest in and to the Equipment and that nothing in this Agreement shall be construed as granting any right or license to the Lessee to use any trademark, trade name, or service mark of the Lessor.

  1. DISPUTE RESOLUTION

 

  1. Any dispute arising out of or in connection with this Agreement shall be resolved through mediation, with the mediator to be selected by mutual agreement of the Parties, and if mediation is unsuccessful, through binding arbitration in accordance with the rules of the American Arbitration Association.

 

  1. Judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

 

  • TERMINATION

 

  1. This Agreement may be terminated by either Party upon written notice to the other Party if the other Party breaches any material term of this Agreement and such breach remains uncured for a period of thirty (30) days after receipt of written notice of the breach from the non-breaching Party.

 

  1. The Lessor may terminate this Agreement if the Lessee fails to generate any revenue from equipment rentals for a continuous period of [INSERT NUMBER OF MONTHS].

 

  1. Additionally, the Lessor may terminate this Agreement immediately upon written notice to the Lessee if the Lessee fails to maintain the insurance required under this Agreement.

 

  • GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of [INSERT STATE WHERE THE HOLDING LLC IS LOCATED], without giving effect to its conflict of laws principles.

  1. GENERAL PROVISIONS

 

  1. Entire Agreement

This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.

  1. Severability

If any provision of this Agreement is held to be unenforceable or invalid, the other provisions shall continue in full force and effect.

  1. Notices

Any notice or other communication under this Agreement shall be in writing and shall be considered given when delivered personally or mailed by registered mail, return receipt requested, to the Parties at their respective addresses set forth above (or at such other address as a Party may specify by notice to the other).

  1. Amendment

No amendment or modification of this Agreement shall be valid or binding unless it is in writing and signed by both Parties.

  1. Waiver

The failure of a Party to insist upon strict adherence to any term of the Agreement on any occasion shall not be considered a waiver or deprive that Party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. Any waiver must be in writing.

  1. Counterparts

This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the Parties have duly executed this Equipment Lease Agreement as of the date first above written by their authorized representatives.

 

XCIX HOLDINGS LLC

BY: [INSERT SIGNATURE]

NAME: [INSERT NAME]

TITLE: [INSERT TITLE]

DATE: [INSERT DATE]

SUCIO BEATS LLC

BY: [INSERT SIGNATURE]

NAME: [INSERT NAME]

TITLE: [INSERT TITLE]

DATE: [INSERT DATE]

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