Common use of HIRING PERIOD Clause in Contracts

HIRING PERIOD. 3.1. The Hiring Period for each Container leased to the Lessee shall commence on the Commencement Date (as per the Schedule of Supply) or the date on which the Container leaves the SCF Group depot, whichever is earlier. The duration of the Hiring Period is for the period specified in the relevant Schedule of Supply. 3.2. Providing the Lessee has duly observed and performed all of its obligations under this Agreement and upon giving SCF Group notice prior to the expiration of the Hiring Period, the Lessee may extend the Hiring Period for all or some of the Containers on the same terms and conditions in this Agreement. 3.3. If the Lessee fails to exercise its rights to extend the Hiring Period and if SCF Group agrees, the Containers will continue to be leased under the terms and conditions of this Agreement in accordance with clause 3.4 until either party gives one month’s notice in writing of its intention to either amend or cease this Agreement. 3.4. At the expiration of the Hiring Period initially specified in the Schedule of Supply, the Lessee may, if SCF Group agrees, continue to lease the Containers on a daily basis and subject to the terms and conditions of this Agreement. In these circumstances, SCF Group reserves the right to amend the Rental Charges or other terms and conditions listed on the Schedule of Supply by providing seven days’ prior written notice to the Lessee.

HIRING PERIOD. 3.1. The Hiring Period for each Container leased to the Lessee shall Customer will commence on the Commencement Date (as per set in the Schedule of Supply) or the date on which the Container leaves the SCF Group depot, whichever is earlier. The duration of the Hiring Period is for the period specified in the relevant Schedule of Supply. 3.2. Providing the Lessee Customer has duly observed and performed all of its obligations under this Agreement and upon giving SCF Group notice prior to the expiration of the Hiring Period, the Lessee Customer may extend the Hiring Period for all or some of the Containers on the same terms and conditions in this Agreement. 3.3. If the Lessee Customer fails to exercise its rights to extend the Hiring Period and if SCF Group agrees, the Containers will continue to be leased under the terms and conditions of this Agreement in accordance with clause 3.4 until either party gives one month’s notice in writing of its intention to either amend or cease this Agreement. 3.4. At the expiration of the Hiring Period initially specified in the Schedule of Supply, the Lessee Customer may, if SCF Group agrees, continue to lease the Containers on a daily basis and subject to the terms and conditions of this Agreement. In these circumstances, SCF Group reserves the right to amend the Rental Charges or other terms and conditions listed on the Schedule of Supply by providing seven days’ prior written notice to the LesseeCustomer.