NOT A LEASE. Notwithstanding any provisions of this Agreement to the contrary, Company and Contractor acknowledge and agree that (i) Contractor’s provision of equipment, material, supplies and labor under this Agreement is solely in furtherance of Contractor’s performance of the Services for Company; (ii) Contractor shall be permitted to exchange or substitute pieces of equipment used in the performance of Services; and, (iii) no equipment provided by Contractor during the performance of the Services under this Agreement is a right-of-use asset.
Appears in 5 contracts
Samples: Pressure Pumping Services Agreement – Fleet One Simulfrac (ProPetro Holding Corp.), Pressure Pumping Services Agreement – Fleet Two (ProPetro Holding Corp.), Pressure Pumping Services Agreement (ProPetro Holding Corp.)
