Common use of RENTAL TERM Clause in Contracts

RENTAL TERM. Unless purchase code “S,” “L,” or “O” appears in the Initial Equipment Order Information and Pricing section of the Application, each individual piece of equipment (“Rental Equipment”) shall have a separate rental term. The term of each piece of Rental Equipment begins on its order date. It continues on a month-to-month basis. Any property interest in the Rental Equipment belongs solely to us (or our delegates or assigns). Either party may terminate the rental term for a piece of Rental Equipment on 30 days prior written notice. On the effective date of a termination, we may debit an amount equal to the fair market value of the Rental Equipment from your Designated Account. If you return the Rental Equipment within ten days of termination, we will refund the debited amount (less our determination of diminished value and/or cost of repairs). Call 000-000-0000 for a tag number and address for returning the Rental Equipment. You bear all return costs.

RENTAL TERM. Unless purchase code “S,” “L,” or “O” appears in the Initial Equipment Order Information and Pricing section of the Application, each individual piece of equipment (“Rental Equipment”) shall have a separate rental term. The term of each piece of Rental Equipment begins on its order date. It continues on a month-to-month basis. Any property interest in the Rental Equipment belongs solely to us (or our delegates or assigns). Either party may terminate the rental term for a piece of Rental Equipment on 30 days prior written notice. On the effective date of a termination, we may debit an amount equal to the fair market value of valueof the Rental Equipment from your Designated Account. If you return the Rental Equipment within ten days of termination, we will refund the debited amount (less our determination of diminished value and/or cost of repairs). Call 000-000-0000 for a tag number and address for returning the Rental Equipment. You bear all return costs.