Common use of Security of Equipment Clause in Contracts

Security of Equipment. Keyholder acknowledges that it is necessary to maintain security of the Equipment to prevent its use by unauthorized persons and agrees: a. to keep the Equipment in the Keyholder’s possession or in a safe place at all times; b. to not loan the Equipment to any person, whether or not a real estate licensee, for any purpose whatsoever, or to permit the Equipment to be used for any purpose by any other person; c. to not duplicate the Equipment or allow other persons to do so; d. to not assign, transfer or pledge this Lease or the Equipment; e. to immediately notify the Organization in writing of the loss or theft of the Equipment and the circumstances surrounding such loss or theft; f. to follow all additional security procedures or relevant operating procedures as specified from time to time by the Organization; and g. to not damage or deface the Equipment in any way, including attaching the Keyholder’s PIN number to Equipment