Common use of Equipment Rental Clause in Contracts

Equipment Rental. 5.1 In the event that the acquisition of the Equipment by the Customer is to proceed by way of Equipment Rental from CommsFM (which shall be the case if the Equipment Rental box is completed on this Agreement) or the Customer becomes obliged to rent the Equipment from CommsFM in accordance with clause 3.3.2 This clause 5 shall apply. 5.2 Subject to clause 5.3 The Rental of the Equipment by the Customer from CommsFM shall endure for the Minimum Period and shall automatically continue thereafter until and unless terminated by the Customer giving at least three months prior written notice to that effect to CommsFM, such notice to expire no earlier than the end of the Minimum Period or at any point thereafter. 5.3 In the event that the Customer has become obliged to rent the Equipment in accordance with clause 3.3.2, The Customer shall within five working days of being required to do so by CommsFM make payment to CommsFM of an advance Equipment Rental of such amount as CommsFM may determine up to a maximum of one year’s Rental payments. 5.4 The advance Equipment Rental shall be refunded by CommsFM to the Customer in the event that CommsFM resiles from this Agreement pursuant to clause 6.2 But shall not be refundable by CommsFM to the Customer under any other circumstances whatsoever. 5.5 The Customer shall pay to CommsFM the Equipment Rental payment for the Equipment Rental from CommsFM in advance at the beginning of each Rental charging period after taking due account of any advance Equipment Rental. 5.6 CommsFM shall be entitled to increase the Equipment Rental payments from time to time by such amount as it thinks fit by giving written notice to that effect to the Customer provided that CommsFM shall not be entitled to increase the Equipment Rental payments more than 15% during any twelve month period. 5.7 Throughout the period of the Equipment Rental the Customer shall:- 5.7.1 subject to CommsFM properly fulfilling its obligations in terms of clause 9 and 16.2 ensure that the Equipment is Maintained in good working order, fair wear and tear excepted; 5.7.2 ensure that the Equipment is used only for the purposes for which it was intended and is operated in accordance with the law and the manufacturer’s instructions and guidelines; 5.7.3 retain possession of the Equipment and keep the Equipment at the Site; 5.7.4 indemnify and keep indemnified CommsFM against any loss of or damage to the Equipment from whatever cause (whether or not the fault or negligence of the Customer) and against any costs, liabilities or expenses which CommsFM may incur as a result of the operation or use of the Equipment by the Customer or any third party; 5.7.5 not alter or add to or remove any part or name plate or other form of identification from the Equipment; and 5.7.6 not sell, assign, lease, pledge or otherwise deal with the Equipment nor allow to be created any lien, fixed or floating charge, hypothec or other security over the Equipment; 5.7.7 keep the Equipment insured under a comprehensive policy of insurance without restriction or excess for an amount equal to its replacement value, noting on such policy that the Equipment belongs to CommsFM. On request of CommsFM, the Customer will within five working days produce evidence of the policy, together with receipts for the payments of the premiums thereon, failing which CommsFM shall be entitled to effect such insurance and recover the costs of so doing from the Customer; and 5.7.8 notify CommsFM immediately if an insurance claim is made and ensure that CommsFM receives any insurance payment relating to the Equipment immediately on receipt by the Customer. If the Customer fails to immediately pay the monies so received to CommsFM, until such time as they are so paid to CommsFM they shall be held in trust by the Customer for CommsFM’s benefit.

Equipment Rental. 5.1 In the event that the acquisition of the Equipment by the Customer is to proceed by way of Equipment Rental from CommsFM (which shall be the case if the Equipment Rental box section is completed on this Agreement) or the Customer becomes obliged to rent the Equipment from CommsFM in accordance with clause 3.3.2 This clause 5 shall apply. 5.2 Subject to clause 5.3 The Rental of the Equipment by the Customer from CommsFM shall endure for the Minimum Period and shall automatically continue thereafter until and unless terminated by the Customer giving at least three months prior written notice to that effect to CommsFM, such notice to expire no earlier than the end of the Minimum Period or at any point thereafter. 5.3 In the event that the Customer has become obliged to rent the Equipment in accordance with clause 3.3.2, The Customer shall within five working days of being required to do so by CommsFM make payment to CommsFM of an advance Equipment Rental of such amount as CommsFM may determine determine, up to a maximum of one year’s Rental payments. 5.4 The advance Equipment Rental shall be refunded by CommsFM to the Customer in the event that CommsFM resiles from this Agreement pursuant to clause 6.2 But shall not be refundable by CommsFM to the Customer under any other circumstances whatsoever. 5.5 The Customer shall pay to CommsFM the Equipment Rental payment for the Equipment Rental from CommsFM in advance at the beginning of each Rental charging period after taking due account of any advance Equipment Rental. 5.6 CommsFM shall be entitled to increase the Equipment Rental payments from time to time by such amount as it thinks fit by giving written notice to that effect to the Customer Customer, provided that CommsFM shall not be entitled to increase the Equipment Rental payments more than 15% during any twelve month period. 5.7 Throughout the period of the Equipment Rental the Customer shall:- 5.7.1 subject to CommsFM properly fulfilling its obligations in terms of clause 9 and 16.2 16.2, ensure that the Equipment is Maintained in good working order, fair wear and tear excepted; 5.7.2 ensure that the Equipment is used only for the purposes for which it was intended and is operated in accordance with the law and the manufacturer’s instructions and guidelines; 5.7.3 retain possession of the Equipment and keep the Equipment at the Site; 5.7.4 indemnify and keep indemnified CommsFM against any loss of or damage to the Equipment from whatever cause (whether or not the fault or negligence of the Customer) and against any costs, liabilities or expenses which CommsFM may incur as a result of the operation or use of the Equipment by the Customer or any third party; 5.7.5 not alter or add to or remove any part or name plate or other form of identification from the Equipment; and 5.7.6 not sell, assign, lease, pledge or otherwise deal with the Equipment nor allow to be created any lien, fixed or floating charge, hypothec or other security over the Equipment; 5.7.7 keep the Equipment insured under a comprehensive policy of insurance without restriction or excess for an amount equal to its replacement value, noting on such policy that the Equipment belongs to CommsFM. On request of CommsFM, the Customer will within five working days produce evidence of the policy, together with receipts for the payments of the premiums thereon, failing which CommsFM shall be entitled to effect such insurance and recover the costs of so doing from the Customer; and 5.7.8 notify CommsFM immediately if an insurance claim is made and ensure that CommsFM receives any insurance payment relating to the Equipment immediately on receipt by the Customer. If the Customer fails to immediately pay the monies so received to CommsFM, until such time as they are so paid to CommsFM they shall be held in trust by the Customer for CommsFM’s benefit.

Equipment Rental. 5.1 In the event that the acquisition of the Equipment by the Customer is to proceed by way of Equipment Rental from CommsFM (which shall be the case if the Equipment Rental box is completed on this Agreement) or the Customer becomes obliged to rent the Equipment from CommsFM in accordance with clause 3.3.2 This clause 5 shall apply. 5.2 Subject to clause 5.3 The Equipment Rental of the Equipment by the Customer from CommsFM shall endure for the Minimum Period and shall automatically continue thereafter until and unless terminated by the Customer giving at least three (3) months prior written notice to that effect to CommsFM, such notice to expire no earlier than the end of the Minimum Period or at any point thereafter. 5.3 In the event that the Customer has become obliged to rent the Equipment in accordance with clause 3.3.2, The Customer shall within five working days of being required to do so by CommsFM make payment to CommsFM of an advance Equipment Rental of such amount as CommsFM may determine up to a maximum of one year’s Rental payments. 5.4 The advance Equipment Rental shall be refunded by CommsFM to the Customer in the event that CommsFM resiles from this Agreement pursuant to clause 6.2 But but shall not be refundable by CommsFM to the Customer under any other circumstances whatsoever. 5.5 The Customer shall pay to CommsFM the Equipment Rental payment for the Equipment Rental from CommsFM in advance at the beginning of each Rental charging period after taking due account of any advance Equipment Rental. 5.6 CommsFM shall be entitled to increase the Equipment Rental payments from time to time by such amount as it thinks fit by giving written notice to that effect to the Customer provided that CommsFM shall not be entitled to increase the Equipment Rental payments more than 15% during any twelve month period. 5.7 Throughout the period of the Equipment Rental the Customer shall:- 5.7.1 subject to CommsFM properly fulfilling its obligations in terms of clause 9 and 16.2 12.2 ensure that the Equipment is Maintained in good working order, fair wear and tear excepted; 5.7.2 ensure that the Equipment is used only for the purposes for which it was intended and is operated in accordance with the law and the manufacturer’s instructions and guidelines; 5.7.3 retain possession of the Equipment and keep the Equipment at the Site; 5.7.4 indemnify and keep indemnified CommsFM against any loss of or damage to the Equipment from whatever cause (whether or not the fault or negligence of the Customer) and against any costs, liabilities or expenses which CommsFM may incur as a result of the operation or use of the Equipment by the Customer or any third party; 5.7.5 not alter or add to or remove any part or name plate or other form of identification from the Equipment; and 5.7.6 not sell, assign, lease, pledge or otherwise deal with the Equipment nor allow to be created any lien, fixed or floating charge, hypothec or other security over the Equipment; 5.7.7 keep the Equipment insured under a comprehensive policy of insurance without restriction or excess for an amount equal to its replacement value, noting on such policy that the Equipment belongs to CommsFM. On request of CommsFM, the Customer will within five working days produce evidence of the policy, together with receipts for the payments of the premiums thereon, failing which CommsFM shall be entitled to effect affect such insurance and recover the costs of so doing from the Customer; and 5.7.8 notify CommsFM immediately if an insurance claim is made and ensure that CommsFM receives any insurance payment relating to the Equipment immediately on receipt recei pt by the Customer. If the Customer fails to immediately pay the monies so received to CommsFM, until such time as they are so paid to CommsFM they shall be held in trust by the Customer for CommsFM’s benefit.