Common use of Loaned Equipment Clause in Contracts

Loaned Equipment. If identified in Your Quotation, the Software shall be installed on hardware loaned from Magnet Forensics and stored at Your premises. Title to the loaned equipment shall remain with Magnet Forensics. Magnet Forensics shall provide maintenance services to ensure the Software operates on the loaned equipment in accordance with specifications in the Documentation, however, You shall be responsible for the full cost of repair or replacement of the loaned equipment that is damaged, lost, confiscated, or stolen from the time You assume custody until it is returned to Magnet Forensics. If the loaned equipment is lost, stolen or damaged, You agree to promptly notify Magnet Forensics. At the expiry of the License Term stated in Your Quotation or earlier termination of this Agreement in accordance with the terms herein, You shall return the loaned equipment to Magnet Forensics in as good a condition as when received by You, except for reasonable wear and tear. Except as specifically stated herein and the Documentation, Magnet Forensics disclaims all representations and warranties associated with the loaned equipment and any use thereof, including any warranty of fitness for a particular purpose.

Loaned Equipment. If identified in Your QuotationOrder, the Software shall be installed on hardware loaned from Magnet Forensics and stored at Your premises. Title to the loaned equipment shall remain with Magnet Forensics. Magnet Forensics shall provide maintenance services to ensure the Software operates on the loaned equipment in accordance with specifications in the Documentation, however, You shall be responsible for the full cost of repair or replacement of the loaned equipment that is damaged, lost, confiscated, or stolen from the time You assume custody until it is returned to Magnet Forensics. If the loaned equipment is lost, stolen or damaged, You agree to promptly notify Magnet Forensics. At the expiry of the License Term license term stated in Your Quotation Order or earlier termination of this Agreement in accordance with the terms herein, You shall return the loaned equipment to Magnet Forensics in as good a condition as when received by You, except for reasonable wear and tear. Except as specifically stated herein and the Documentation, Magnet Forensics disclaims all representations and warranties associated with the loaned equipment and any use thereof, including any warranty of fitness for a particular purpose.