[INSERT NAME OF YOUR
COMPANY]
EQUIPMENT LEASE
AGREEMENT
This EQUIPMENT LEASE AGREEMENT (this “Agreement”) is entered into effective as
of the [insert date] (the “Effective Date”) by and between Game Together MKE whose
principal place of business is at [insert physical address of your company] (the “Lessor”)
and [insert name of the client], whose address for the purposes of this agreement is at
[insert client’s address] (the “Lessee”). The Lessor and Lessee may each be individually
referred to herein as a “Party” and collectively as the “Parties.”
WHEREAS, the Lessor is the owner of certain Equipment including described in
Section 1 of this Agreement in which it leases for people to host their own private video
game LAN parties; and
WHEREAS, Lessee desires to lease the Equipment from the Lessor and the
Lessor agrees to lease the Equipment to Lessee under the terms and conditions set
forth in this Agreement.
NOW THEREFORE, in consideration of the foregoing and the mutual covenants
contained in this Agreement, the receipt and sufficiency of which is hereby
acknowledged, the Parties agree as follows:
1. Equipment. The Lessor hereby leases to Lessee and Lessee hereby
leases from the Lessor that certain equipment including game consoles, games, tables,
chairs, cords, etc. (the “Equipment”), as fully described in Exhibit A, attached hereto and
incorporated herein by reference.
2. Term. This Agreement shall be for a term of [insert period], which shall
commence on the Effective Date and shall, unless terminated earlier as provided in this
Agreement, terminate on [insert termination date] (the “Term”).
3. Rental Payment. As rent for the Equipment, Lessee shall pay to the
Lessor, Deposit of 30% of total price due at booking which is equal to [insert amount] to
reserve spot, remaining 70% which is [insert amount] is due 48 hours prior to party set
up.
4. Taxes. Lessee shall pay all sales, use, excise, personal property or other
taxes (excepting state and federal income taxes and other taxes upon the “net income”
of the Lessor) that may be imposed on either Party as a result of this transaction.
Lessee shall indemnify, defend and hold the Lessor, its agents, employees, and agents
harmless from all liabilities, suits, judgments, obligations, fines, penalties, claims, costs,
and expenses (including reasonable attorneys’ fees) arising out of the imposition of, or
attempt to impose, any such tax on the Lessor.
5. Maintenance. Throughout the Term, Lessee shall provide for the service,
repair and maintenance of the Equipment, at Lessee’s sole expense, so as to keep the
Equipment in as good condition, repair, appearance and working order as when
delivered to Lessee hereunder, ordinary wear and tear excepted. Lessee shall, at
Lessee’s sole expense, replace any and all parts and devices which may from time to
time become worn out, lost, stolen, destroyed, damaged beyond repair, or rendered
unfit for use for any reason whatsoever. All such replacement parts, mechanisms, and
devices shall be free and clear of liens, encumbrances, and rights of others and shall
become the property of the Lessor and shall be covered by this Agreement to the same
extent as the Equipment originally covered by this Agreement.
6. Use of Equipment. Lessee shall exercise due care in its operation,
use and maintenance of the Equipment. Lessee shall not use, and shall not permit
others to use, the Equipment in any manner that would contravene applicable laws,
rules, regulations and other governmental directives, would violate the terms of any
manufacturer’s or like warranty, or would contravene the manufacturer’s reasonable
operational standards for the Equipment. If the Lessor notifies Lessee of any additional
operational standards, Lessee shall adhere, and shall cause others using the
Equipment under this Agreement to adhere, to such standards in the operation of the
Equipment. Lessee shall not alter or modify the Equipment without the prior written
consent of the Lessor. Lessee agrees that only qualified employees of Licensee shall
operate the Equipment.
7. Permits. Lessee shall obtain all permits and licenses necessary, if any, for
the installation, operation, possession and use of the Equipment. Lessee shall comply
with all laws, rules, regulations and other governmental directives applicable to the
installation, use, and operation of the Equipment and, if compliance with such law, rule,
regulation or other governmental directive requires changes or additions to be made to
the Equipment, such changes or additions shall be made by Lessee at Lessee’s sole
cost and expense upon the Lessor’s written approval of the same.
8. Utility Charges. Lessee shall pay all charges for electricity, light, power,
telephone or other utility service to be used on or in connection with the Equipment,
including charges for installation of such services. There shall be no abatement or diminution
of rent due to the interruption of any such services.
9. Termination. The Lessor may terminate this Agreement at any time upon
One (1) day’s prior written notice to Lessee.
10. Cancellation policy: The Lessor may cancel 7 days prior to booked event.
If less than 7 days’ notice provided, the Lessor may either reschedule
event or lose your deposit. Event may only be rescheduled once.
11. Refund policy: The Lessor is entitled to a full refund of deposit provided if
canceled at least 7 days prior to event.
12. Return of Equipment. Upon termination of this Agreement, Lessee, at is
sole cost and expense, shall promptly deliver the Equipment to the Lessor at the
Lessor’s address set forth below or as otherwise agreed by the parties.
13. Damage. Lessee shall be responsible for any loss of or damage to the
Equipment from any cause at all, whether or not insured, from the
Equipment Acceptance Date. If the Equipment is lost, stolen or damaged,
Lessee will promptly notify the Lessor of such event. In no event shall
such loss or damage relieve Lessee of its obligations under this
Agreement. In the event of such loss or damage, Lessee, at its option,
shall: (i) promptly repair the Equipment to return it to good working order;
or (ii) replace the Equipment with like Equipment of the same or later
model (upon the Lessor’s written approval), in good condition and
working order, free and clear of all liens and encumbrances and grant the
Lessor the right to perfect its security interest in the replacement
Equipment and such replacement shall be substituted in this Agreement
by appropriate amendment; or (iii) pay the Lessor the replacement value,
per Exhibit A, less any rental payments previously paid.
14. Indemnification. Lessee shall indemnify, defend and hold the Lessor and
its regents, employees, students, agents and contractors harmless from all losses,
liabilities, actions, suits, judgments, obligations, fines, penalties, claims, costs and
expenses (including reasonable attorneys’ fees and investigative fees) arising out of the
rental of the Equipment and all acts and omissions related thereto.
15. Security Interests in the Equipment. In no event shall Lessee assert any
ownership interest in or to the Equipment. Lessee shall not grant or permit any person
or business entity to assert a security or other interest in the Equipment. At all times
during the Term, Lessee shall ensure that the Equipment is identified as being owned
by the Lessor.
16. Limitations of Damages and Remedies. Even if advised of the possibility
of such damages, in no event shall the Lessor be liable for (i) personal injury or property
damages, or
(ii) lost profits, work stoppage, lost data, or any other special, indirect or consequential
damages of any kind. In the event of the Lessor’s breach or failure to perform any
obligation under this Agreement, the Lessor’s entire liability and the Lessee’s
exclusive remedy shall be, at the Lessor’s option, either (i) return of the monetary
consideration paid to the Lessor under this Agreement, or (ii) the Lessor’s performance
of any obligation that failed to satisfy the terms of this Agreement, including the repair of
any damaged or defective Equipment.
17. Disclaimer of Warranties. The Lessor disclaims and excludes all
warranties, express and implied, including, but not limited to, the implied warranties of
merchantability and fitness for a particular purpose, concerning the Equipment leased
under this Agreement. The Parties acknowledge and agree the Equipment shall be
leased and accepted “AS IS” with all defects.
18. Personal Property. The Equipment is and shall at all times be and remain
personal property, notwithstanding that the Equipment, or any part thereof, may now be
or hereafter become in any manner affixed or attached to or embedded in or
permanently rested upon real property or any building thereon or attached in any
manner to what is permanent by any means of cement, plaster, nails, bolts, screws or
otherwise.
19. General Provisions.
19.1 Assignment. This Agreement may not be assigned by a Party
without the prior written consent of the other Party. Any assignment
attempted to be made in violation of this Agreement shall be void.
In the event of any assignment, Lessee shall remain responsible for
its performance and liable for assignee’s performance.
19.2 Force Majeure. No Party to this Agreement shall be responsible for
any delays or failure to perform any obligation under this
Agreement due to acts of God, strikes or other disturbances,
including, without limitation, war, insurrection, embargoes,
governmental restrictions, acts of governments or governmental
authorities, and any other cause beyond the control of such party.
During an event of force majeure, the Parties’ duty to perform
obligations shall be suspended.
19.3 Governing Law; Consent to Jurisdiction. The internal laws of the
state of Georgia shall govern the validity, construction and
enforceability of this Agreement, without giving effect to its conflict
of laws principles. All suits, actions, claims and causes of action
relating to the construction, validity, performance and enforcement
of this Agreement shall be in the courts of Milwaukee, Wisconsin.
19.4 Independent Contractor. In the performance of their obligations
under this Agreement, the Parties shall be independent contractors,
and shall have no other legal relationship, including, without
limitation, joint venturers, or employees. Neither Party shall have
the right or power to bind the other Party and any attempt to enter
into an agreement in violation of this section shall be void.
19.5 Notices. All notices, requests and other communication that a Party
is required or elects to deliver shall be in writing and shall be
delivered personally, or by facsimile (provided such delivery is
confirmed), or by a recognized overnight courier service or by
United States mail, first-class, certified or registered, postage
prepaid, return receipt requests, to the other Party at its address set
forth hereinabove or to such other address as such Party may
designate by notice given pursuant to this section.
19.6 Severability. If one or more provisions of this Agreement, or the
application of any provision to any Party or circumstance, is held
invalid, unenforceable, or illegal in any respect, the remainder of
this Agreement and the application of the provision to other Parties
or circumstances shall remain valid and in full force and effect.
19.7 Non-Waiver of Defaults. Any failure of the Lessor at any time, or
from time to time, to enforce or require the strict keeping and
performance of any of the terms and conditions of this Agreement,
or to exercise a right hereunder, shall not constitute a waiver of such
terms, conditions or rights, and shall not affect or impair the same,
or the right of the Lessor to avail itself same.
19.8 Section Headings. All section headings are for convenience of
reference only and are not intended to define or limit the scope of
any provision of this Agreement.
19.9 Execution. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original, but
all together shall constitute but one and the same Agreement.
IN WITNESS WHEREOF, the Parties have entered into this Agreement, effective as
of the Effective Date set forth above.
LESSOR LEASEE
By:
Name:
Title:
By:
Name:
Title:
EXHIBIT A
EQUIPMENT
[List all items of equipment and replacement value of each]
EXHIBIT B PAYMENT SCHEDULE
[Insert payment schedule and total payment amount]
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