EXHIBIT 10.65
BARCLAYS
MASTER LEASE PURCHASE
Date 27th September 2001
YOU ARE:
Name Vari-Lite Europe Limited
Address 00-00 Xxxxxxx Xxxxx
Xxxxxxxxx
Xxxxxxxxx
Postcode UB6 8PW
Registered no. 2876045
WE ARE
BARCLAYS MERCANTILE BUSINESS FINANCE LIMITED OF XXXXXXXXX PLAZA, XXXXXXXXX
WAY, BASINGSTOKE, HAMPSHIRE, RG21 7GL. REGISTERED IN ENGLAND NO. 898129. OUR
VAT REGISTRATION NO. IS 243 8522 62.
THIS IS HOW YOUR MASTER LEASE PURCHASE AGREEMENT OPERATES
You may request us to enter into leases with you by giving us details of the
equipment, from whom you propose we acquire title to it, and any financial or
other information we may require.
By signing this agreement you acknowledge that we may exchange information
about you with companies in the Barclays Bank group for credit and risk
assessment purposes and marketing purposes. You agree that (i) you may be
contacted with details of other products or services - write to us, if you do
not wish to be contacted (ii) we may disclose and use information about this
agreement for credit scoring, administration and financing purposes and for
fraud prevention.
These expressions are used throughout this agreement and any schedule to it:
SCHEDULE:
Is any agreement under which we let equipment to you on hire on the terms of
this agreement and the particular schedule.
LEASE:
In relation to any hiring, is this agreement and the schedule which together
constitute a single contract.
EQUIPMENT, TERM, RENT, LOCATION:
Are as described in the particular schedule.
THESE ARE THE TERMS OF YOUR MASTER LEASE PURCHASE AGREEMENT
1. GENERAL
(1) We and you may sometimes be referred to respectively as 'owner' and
'hirer' in this agreement, schedules or any supplemental agreement or
appendix.
(2) This is a master agreement; signature of it does not commit either us or
you to enter into any lease. We are only obliged to hire equipment (which
includes any replacement) to you, if you sign a schedule, the terms of
which are agreed and which we then sign.
(3) Headings are for convenience only. The singular includes the plural and
vice versa.
(4) The equipment remains our property until you have validly exercised your
option to purchase it (see clause 9). If any clause (or part of it) is
not enforceable, the rest of the lease will not be affected.
(5) We may require you to arrange for any purchase contract you may have
entered into to be changed so title to the equipment passes direct to us.
We will pay for the equipment on the terms agreed with you or otherwise
on receipt by us of the supplier's invoice, or reimburse you (if you have
an agency purchase appointment) on presentation of your invoice, as
applicable.
(6) We do not agree to any terms other than those in the lease; in
particular, we are not liable by any contract to deliver the equipment
or to service or maintain it or, other than hiring out the equipment, to
provide you with any thing or any service.
(7) We may want someone to guarantee your obligations; if we do, we will ask
you to suggest someone suitable.
(8) If, at any time, we make any concession or allow extra time to pay, this
will not affect our rights on that or any subsequent occasion; variations
to any lease must be in writing and signed by us.
(9) You acknowledge that you will be treated as having received any
communication we send you 48 hours after posting to your usual or last
known address. Our address for notices is above.
(10)Whatever in any lease you agree to indemnify us, your indemnity extends
to us and any owner of the equipment and will apply even if the hiring or
the lease has ended. We will calculate it to compensate for the full
amount of the loss suffered as a result of each claim (including any
expenses and VAT we may incur). Our calculations will be conclusive and
you must pay us on our written demand.
2. PERIOD
The hiring lasts for the term shown in the schedule and then until you
have exercised your option to purchase (see clause 9) or it is otherwise
terminated (see clauses 7 and 10). So long as you are not in default (see
clause 7) you are entitled to possession of the equipment throughout this
period.
3. PAYMENTS
(1) The rentals you must pay (without our making demand on you) are shown in
the schedule and are payable without set-off or counterclaim. If you send
us cheques, you do so at your risk. It is vital to us that we receive
payment in full on the due dates shown in the schedule; you agree that
this is a condition (in Scotland an essential condition) of each lease. A
breach of this condition may be treated by us as repudiation (see clause 7).
(2) Any sum not paid by you on its due date will (unless we decide otherwise)
accrue interest on a day to day basis from the date payment was due until
receipt by us of the unpaid amount. The interest rate will be Finance
House Base Rate at that time plus 5%. Payment of interest will not affect
our right to terminate (see clause 7).
(3) If we need to apportion rentals to individual items of equipment, we will
do so by reference to the respective prices paid by us for the items.
4. EQUIPMENT
(1) You must make sure the equipment is safe, correctly used and kept in good
condition and must arrange any maintenance that is needed; any
replacement parts become our property.
(2) You may only alter the equipment with our written permission or if the
law means it must be altered. Any alteration will be at your expense.
(3) Any damage, loss or injury, to anything or anyone, until the equipment is
returned to us, caused to or by the equipment or by its use is your risk
and liabilities arising or penalties or fines imposed in respect of its
use or possession are your responsibility; you agree to indemnify us if
any claim is made on us.
(4) You must keep the equipment in your possession and may not sub-let it
unless you first have our written permission. If the equipment is plant
or machinery, you may not move it from the location shown in the schedule
or, if none, from the United Kingdom unless we have first agreed in
writing where it will then be located. If the equipment is a commercial
vehicle, you may take it anywhere within the European Community for no
longer than 28 days on any trip and you must keep us informed of its
whereabouts when we ask you to. If the equipment is a motor car, you may
take it anywhere within the European Community for no longer than 28 days
in any year and you must keep us informed of its whereabouts when we ask
you to.
(5) If we want to inspect the equipment, you must allow us access and we may
mark it with our name if we choose to do so. Identification and
registration marks may not be removed or changed.
(6) Until you have validly exercised your option to purchase (see clause 9)
you may not agree to sell or otherwise dispose of the equipment in any
way or use it or allow it to be used as security. The same applies to
your rights under each lease. You must not allow the equipment or our
rights in it to be put in jeopardy.
5. LIMIT TO OUR LIABILITY
(1) You have selected the equipment and its supplier and established its
suitability; we have not examined it or considered its suitability.
LEASE PURCHASE SCHEDULE
FIXED RATE
----------------------------------------------------
Hirer Vari-Lite Production Services Limited
BARCLAYS ----------------------------------------------------
CF no. Customer no.
This schedule shall be read and construed as forming an agreement under which
equipment is let and as a schedule incorporated in the master lease purchase 96810-01 01268 45 3 00
agreement made between the undersigned and dated the ----------------------------------------------------
Plan code Account no.
27 09 2001 10 75/4654 9525-7
---- -- ------ ----------------------------------------------------
HIRER
-----------------------------------------------------------------------------
Name
Vari-Lite Production Services FINANCE DETAILS
----------------------------------------------------------------------------- ----------------------------------------------------
Price (excl. VAT)
Limited L 659,477.71
----------------------------------------------------------------------------- ----------------------------------------------------
Address VAT al
20-22 Fairway Drive, Greenford, 17.5 % L 115,408.60
----------------------------------------------------------------------------- ----------------------------------------------------
Non taxable items
Middlesex L 0.00
----------------------------------------------------------------------------- ----------------------------------------------------
Total cost of equipment
(a) L 774,886.31
----------------------------------------------------------------------------- ----------------------------------------------------
Postcode Less: Part exchange/initial
payment payable on the
UB6 8PW date of this schedule (b) L 274,886.31
----------------------------------------------------------------------------- ----------------------------------------------------
Company registration no. Balance financed
(c=a-b) L 500,000.00
----------------------------------------------------------------------------- ----------------------------------------------------
Add. Charges
EQUIPMENT (SEE APPENDIX) (d) L 105,206.20
----------------------------------------------------------------------------- ----------------------------------------------------
Description (inc. serial and/or reg. no.) Balance HP price
Automated lighting (c+d) L 605,206.20
----------------------------------------------------------------------------- ----------------------------------------------------
Administration fee (payable on
the date of the agreement
(e) L 2,500.00
----------------------------------------------------------------------------- ----------------------------------------------------
Option payment
(see clause 9)
(f) L 50.00
----------------------------------------------------------------------------- ----------------------------------------------------
Location of equipment New/Used Hire Purchase price
(a+d+e+f) L 882,642.51
----------------------------------------------------------------------------- ----------------------------------------------------
TERM AND RENT
----------------------------------------------------------------------------- ----------------------------------------------------
The term from the date of this schedule is The balance HP price is payable by the rentals
60 months scheduled in the table below
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No. of consecutive rentals: Rental frequency: Amount of each rental: Commencing on:
60 Monthly L 10086.77 31/10/01
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Followed by
L
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Followed by
L
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Followed by
L
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Followed by
L
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Followed by
L
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DATA PROTECTION
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You acknowledge that we may exchange information about you with companies in the Barclays Bank group for credit and risk
assessment purposes and marketing purposes. You may be contacted with details of other products or services - write to us if you
do not wish to be contacted. You agree we may disclose and use information about this agreement for credit scoring,
administration and financing purposes and for fraud prevention.
------------------------------------------------------------------------------------------------------------------------------------
SIGNATURE FOR HIRER SIGNATURE FOR OWNER
----------------------------------------------------------------------------- ----------------------------------------------------
Signed for and on behalf Date/Tax point of this agreement
of the hirer 01/10/01
----------------------------------------------------
Signed for and on behalf of Barclays Mercantile
Business Finance Ltd of Xxxxxxxxx Plaza,
/s/ Xxxxx Xxxxx Xxxxxxxxx Way, Basingstoke, Hampshire RG21 7GL.
----------------------------------------------------------------------------- Regd. no. 898129 VAT registration no. 243 8522 62
Name and title of signatory
Please Leave Blank
XXXXX XXXXX FC Authorised to sign /s/ signature illegible Authorised to sign
----------------------------------------------------------------------------- ----------------------------------------------------
APPENDIX
Not for use with agreements regulated by the
Consumer Credit act 1974
BARCLAYS ----------------------------------------------------
Lessee/Hirer Vari-Lite Production Services Limited
----------------------------------------------------
CF no. Customer no.
This appendix shall be read and construed as forming part of the agreement 96810-01 01268 45 3 00
under which equipment is let made between the undersigned and Barclays ----------------------------------------------------
Mercantile Business Finance Ltd and dated the Plan code Account no.
01 10 01 10 75/4654 9525-7
---- -- ---- ----------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
1. Description (inc. serial and/or reg. no.)
Upgrade Kit for Consol
Location of equipment New/Used
Fairway Drive, UB6 8PW New
2. Description (inc. serial and/or reg. no.)
3D Illuminated Letters
Location of equipment New/Used
Fairway Drive, UB6 8PW New
3. Description (inc. serial and/or reg. no.)
Colour Scrollers x13
Location of equipment New/Used
Fairway Drive, UB6 8PW New
4. Description (inc. serial and/or reg. no.)
Residual Circuit Distributors x2
Location of equipment New/Used
Fairway Drive, UB6 8PW New
5. Description (inc. serial and/or reg. no.)
Residual Circuit Distributors x2
Location of equipment New/Used
Fairway Drive, UB6 8PW New
6. Description (inc. serial and/or reg. no.)
Residual Circuit Distributors x2
Location of equipment New/Used
Fairway Drive, UB6 8PW New
7. Description (inc. serial and/or reg. no.)
Light Transportation Cases x2
Location of equipment New/Used
Fairway Drive, UB6 8PW New
8. Description (inc. serial and/or reg. no.)
Transportation Cases x6
Location of equipment New/Used
Fairway Drive, UB6 8PW New
9. Description (inc. serial and/or reg. no.)
DMX converter
Location of equipment New/Used
Fairway Drive, UB6 8PW New
10.Description (inc. serial and/or reg. no.)
DMX Converter
Location of equipment New/Used
Fairway Drive, UB6 8PW New
11.Description (inc. serial and/or reg. no.)
Portable Clocking On Machine Serial no. 1310100299409094334
Location of equipment New/Used
Fairway Drive, UB6 8PW New
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SIGNATURE FOR LESSEE OR HIRER SIGNATURE FOR LESSOR OR OWNER
----------------------------------------------------------------------------- ----------------------------------------------------
Signed for and on behalf For and on behalf of the lessor/owner
of the lessee/hirer
/s/ Xxxxx Xxxxx Date 01/10/01
----------------------------------------------------------------------------- ----------------------------------------------------
Title of signatory Signed
FINANCIAL CONTROLLER Authorised to sign /s/ signature illegible Authorised to sign
----------------------------------------------------------------------------- ----------------------------------------------------
APPENDIX
Not for use with agreements regulated by the
Consumer Credit act 1974
BARCLAYS ----------------------------------------------------
Lessee/Hirer Vari-Lite Production Services Limited
----------------------------------------------------
CF no. Customer no.
This appendix shall be read and construed as forming part of the agreement 96810-01 01268 45 3 00
under which equipment is let made between the undersigned and Barclays ----------------------------------------------------
Mercantile Business Finance Ltd and dated the Plan code Account no.
01 10 01 10 75/4654 9525-7
---- -- ---- ----------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
12.Description (inc. serial and/or reg. no.)
Chain Hoist
Location of equipment New/Used
Fairway Drive, UB6 8PW New
13.Description (inc. serial and/or reg. no.)
Cabling
Location of equipment New/Used
Fairway Drive, UB6 8PW New
14.Description (inc. serial and/or reg. no.)
Cyclite transportation case x3
Location of equipment New/Used
Fairway Drive, UB6 8PW New
15.Description (inc. serial and/or reg. no.)
Trussing
Location of equipment New/Used
Fairway Drive, UB6 8PW New
16.Description (inc. serial and/or reg. no.)
VL2402 Broad Beam Lights x11
Location of equipment New/Used
Fairway Drive, UB6 8PW New
17.Description (inc. serial and/or reg. no.)
VL2201/2400 Transportation cases x6
Location of equipment New/Used
Fairway Drive, UB6 8PW New
18.Description (inc. serial and/or reg. no.)
VL2402 Broad Beam Light
Location of equipment New/Used
Fairway Drive, UB6 8PW New
19.Description (inc. serial and/or reg. no.)
Iris 4 Lighting x12
Location of equipment New/Used
Fairway Drive, UB6 8PW New
20.Description (inc. serial and/or reg. no.)
VL2402 Broad Beam Lights x30
Location of equipment New/Used
Fairway Drive, UB6 8PW New
21.Description (inc. serial and/or reg. no.)
VL2201/2400 Transportation Cases x1
Location of equipment New/Used
Fairway Drive, UB6 8PW New
22.Description (inc. serial and/or reg. no.)
Socapex Racks x2
Location of equipment New/Used
Fairway Drive, UB6 8PW New
------------------------------------------------------------------------------------------------------------------------------------
SIGNATURE FOR LESSEE OR HIRER SIGNATURE FOR LESSOR OR OWNER
----------------------------------------------------------------------------- ----------------------------------------------------
Signed for and on behalf For and on behalf of the lessor/owner
of the lessee/hirer
/s/ Xxxxx Xxxxx Date 01/10/01
----------------------------------------------------------------------------- ----------------------------------------------------
Title of signatory Signed
FINANCIAL CONTROLLER Authorised to sign /s/ signature illegible Authorised to sign
----------------------------------------------------------------------------- ----------------------------------------------------
APPENDIX
Not for use with agreements regulated by the
Consumer Credit act 1974
BARCLAYS ----------------------------------------------------
Lessee/Hirer Vari-Lite Production Services Limited
----------------------------------------------------
CF no. Customer no.
This appendix shall be read and construed as forming part of the agreement 96810-01 01268 45 3 00
under which equipment is let made between the undersigned and Barclays ----------------------------------------------------
Mercantile Business Finance Ltd and dated the Plan code Account no.
01 10 01 10 75/4654 9525-7
---- -- ---- ----------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
23.Description (inc. serial and/or reg. no.)
36-Way MCB
Location of equipment New/Used
Fairway Drive, UB6 8PW New
24.Description (inc. serial and/or reg. no.)
36-Way MCB
Location of equipment New/Used
Fairway Drive, UB6 8PW New
25.Description (inc. serial and/or reg. no.)
Voltech PM300 Analyser
Location of equipment New/Used
Fairway Drive, UB6 8PW New
26.Description (inc. serial and/or reg. no.)
Short Nose Latern
Location of equipment New/Used
Fairway Drive, UB6 8PW New
27.Description (inc. serial and/or reg. no.)
Xxxxxx Zip Strip
Location of equipment New/Used
Fairway Drive, UB6 8PW New
28.Description (inc. serial and/or reg. no.)
2 Way Maxi Beam
Location of equipment New/Used
Fairway Drive, UB6 8PW New
29.Description (inc. serial and/or reg. no.)
Transportation Cases x55
Location of equipment New/Used
Fairway Drive, UB6 8PW New
30.Description (inc. serial and/or reg. no.)
6B Conversion Kits x30
Location of equipment New/Used
Fairway Drive, UB6 8PW New
31.Description (inc. serial and/or reg. no.)
Fresnel Lamp
Location of equipment New/Used
Fairway Drive, UB6 8PW New
32.Description (inc. serial and/or reg. no.)
Console 800 Channel
Location of equipment New/Used
Fairway Drive, UB6 8PW New
33.Description (inc. serial and/or reg. no.)
Xxxxxx & Xxxxx Lights x11
Location of equipment New/Used
Fairway Drive, UB6 8PW New
------------------------------------------------------------------------------------------------------------------------------------
SIGNATURE FOR LESSEE OR HIRER SIGNATURE FOR LESSOR OR OWNER
----------------------------------------------------------------------------- ----------------------------------------------------
Signed for and on behalf For and on behalf of the lessor/owner
of the lessee/hirer
/s/ Xxxxx Xxxxx Date 01/10/01
----------------------------------------------------------------------------- ----------------------------------------------------
Title of signatory Signed
FINANCIAL CONTROLLER Authorised to sign /s/ signature illegible Authorised to sign
----------------------------------------------------------------------------- ----------------------------------------------------
APPENDIX
Not for use with agreements regulated by the
Consumer Credit act 1974
BARCLAYS ----------------------------------------------------
Lessee/Hirer Vari-Lite Production Services Limited
----------------------------------------------------
CF no. Customer no.
This appendix shall be read and construed as forming part of the agreement 96810-01 01268 45 3 00
under which equipment is let made between the undersigned and Barclays ----------------------------------------------------
Mercantile Business Finance Ltd and dated the Plan code Account no.
01 10 01 10 75/4654 9525-7
---- -- ---- ----------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
34.Description (inc. serial and/or reg. no.)
Trussing
Location of equipment New/Used
Fairway Drive, UB6 8PW New
35.Description (inc. serial and/or reg. no.)
VL6B Transportation Cases x10
Location of equipment New/Used
Fairway Drive, UB6 8PW New
36.Description (inc. serial and/or reg. no.)
6B Conversion Kits x 60
Location of equipment New/Used
Fairway Drive, UB6 8PW New
37.Description (inc. serial and/or reg. no.)
V16B Transportation Case
Location of equipment New/Used
Fairway Drive, UB6 8PW New
38.Description (inc. serial and/or reg. no.)
6B Conversion Kits x 6
Location of equipment New/Used
Fairway Drive, UB6 8PW New
39.Description (inc. serial and/or reg. no.)
VL2416 Broad Beam Lights x64
Location of equipment New/Used
Fairway Drive, UB6 8PW New
40.Description (inc. serial and/or reg. no.)
V12201/2400 Transportation Cases x3
Location of equipment New/Used
Fairway Drive, UB6 8PW New
41.Description (inc. serial and/or reg. no.)
36-Way MCB x2
Location of equipment New/Used
Fairway Drive, UB6 8PW New
42.Description (inc. serial and/or reg. no.)
Scroller Transportation Cases x2
Location of equipment New/Used
Fairway Drive, UB6 8PW New
43.Description (inc. serial and/or reg. no.)
VL2402 Broad Beam Lights x30
Location of equipment New/Used
Fairway Drive, UB6 8PW New
44.Description (inc. serial and/or reg. no.)
VL2201/2400 Transportation Cases x15
Location of equipment New/Used
Fairway Drive, UB6 8PW New
------------------------------------------------------------------------------------------------------------------------------------
SIGNATURE FOR LESSEE OR HIRER SIGNATURE FOR LESSOR OR OWNER
----------------------------------------------------------------------------- ----------------------------------------------------
Signed for and on behalf For and on behalf of the lessor/owner
of the lessee/hirer
/s/ Xxxxx Xxxxx Date 01/10/01
----------------------------------------------------------------------------- ----------------------------------------------------
Title of signatory Signed
FINANCIAL CONTROLLER Authorised to sign /s/ signature illegible Authorised to sign
----------------------------------------------------------------------------- ----------------------------------------------------
APPENDIX
Not for use with agreements regulated by the
Consumer Credit act 1974
BARCLAYS ----------------------------------------------------
Lessee/Hirer Vari-Lite Production Services Limited
----------------------------------------------------
CF no. Customer no.
This appendix shall be read and construed as forming part of the agreement 96810-01 01268 45 3 00
under which equipment is let made between the undersigned and Barclays ----------------------------------------------------
Mercantile Business Finance Ltd and dated the Plan code Account no.
01 10 01 10 75/4654 9525-7
---- -- ---- ----------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
EQUIPMENT
------------------------------------------------------------------------------------------------------------------------------------
45.Description (inc. serial and/or reg. no.)
VL6B Transportation Cases x7
Location of equipment New/Used
Fairway Drive, UB6 8PW New
46.Description (inc. serial and/or reg. no.)
6b Conversion Kits x40
Location of equipment New/Used
Fairway Drive, UB6 8PW New
------------------------------------------------------------------------------------------------------------------------------------
SIGNATURE FOR LESSEE OR HIRER SIGNATURE FOR LESSOR OR OWNER
----------------------------------------------------------------------------- ----------------------------------------------------
Signed for and on behalf For and on behalf of the lessor/owner
of the lessee/hirer
/s/ Xxxxx Xxxxx Date 01/10/01
----------------------------------------------------------------------------- ----------------------------------------------------
Title of signatory Signed
FINANCIAL CONTROLLER Authorised to sign /s/ signature illegible Authorised to sign
----------------------------------------------------------------------------- ----------------------------------------------------
THIS SALE AGREEMENT is made the 01/10/01
BETWEEN
(1) VARI-LITE EUROPE LIMITED, A COMPANY REGISTERED IN ENGLAND UNDER
NUMBER 2876045 WHOSE REGISTERED OFFICE IS AT 00-00 XXXXXXX XXXXX,
XXXXXXXXX, XXXXXXXXX XX0 0XX (THE "VENDOR"); AND
(2) BARCLAYS MERCANTILE BUSINESS FINANCE LIMITED A COMPANY REGISTERED IN
ENGLAND UNDER NUMBER 898129 WHOSE REGISTERED OFFICE IS AT XXXXXXXXX
XXXXX, XXXXXXXXX XXX, XXXXXXXXXXX, XXXXXXXXX XX00 0XX ("THE
PURCHASER").
WHEREBY IT IS XXXXXX AGREED as follows:-
1. As obligations separate and independent from any other obligations of
the Vendor and the Purchaser and subject only to the terms of this
Agreement and the relevant VAT invoice the Vendor agrees to sell
outright and the Purchaser agrees to purchase, the equipment
described in the Schedule attached.
2. The total price payable by the Purchaser to the Vendor for the
Equipment shall be as stated in the Schedule attached (the "Purchase
Price") plus value added tax.
3. Full title to and risk in the Equipment shall pass to the Purchaser
from the Vendor on payment of the Purchase Price plus value added tax.
4. In consideration of the Purchaser entering into this Agreement, the
Vendor hereby represents and warrants to the Purchaser that:-
(i) the entering into of this Agreement by the Vendor and the due
and proper performance of its obligations hereunder will not
conflict with or result in a breach of any term of or
constitute a default under or result in the creation or
imposition of any lien security interest, charge or
encumbrance upon the Equipment;
(ii) the description and other details of the Equipment set out
in the Schedule attached are accurate and the Equipment is
complete and of satisfactory quality and fit for its purpose;
(iii) the Vendor is the legal owner of the Equipment free and clear
of all liens, mortgages, charges and encumbrances; and
(iv) there are no outstanding disputes claims or proceedings
relating to or arising from the condition, possession or
operation of the Equipment.
5. This Agreement shall be governed by English law.
IN WITNESS whereof this Agreement has been entered into the day and year
first before written.
Page 1 of 2
Schedule of Assets for Vari-Lite Europe Limited
------------------------------------------------------------------------------------------------
DATE SUPPLIER ASSET NET VAT TOTAL
------------------------------------------------------------------------------------------------
23-Aug ETC Upgrade Kit for Consol L 16,110.00 L 2,819.25 L 18,929.25
------------------------------------------------------------------------------------------------
25-Jun Prestige 3D illuminated letters L 3,887.00 L 680.22 L 4,567.22
------------------------------------------------------------------------------------------------
7-Aug Wybron Colour Scrollers x13 L 8,608.54 L 1,506.49 L 10,115.03
------------------------------------------------------------------------------------------------
1-Aug SES Residual Circuit Distributor x2 L 750.00 L 131.25 L 881.25
------------------------------------------------------------------------------------------------
1-Aug SES Residual Circuit Distributor x2 L 750.00 L 131.25 L 881.25
------------------------------------------------------------------------------------------------
2-Aug SES Residual Circuit Distributor x2 L 750.00 L 131.25 L 881.25
------------------------------------------------------------------------------------------------
12-Jan 5 Star Light Transportation cases x2 L 580.00 L 98.46 L 678.46
------------------------------------------------------------------------------------------------
26-Apr ABS Transportation cases x6 L 2,580.00 L 451.50 L 3,031.50
------------------------------------------------------------------------------------------------
16-May DHA DMX Converter L 650.00 L 113.75 L 763.75
------------------------------------------------------------------------------------------------
5-Apr DHA DMX Converter L 894.50 L 156.54 L 1,051.04
------------------------------------------------------------------------------------------------
20-Apr Xxxxxx Portable Clocking Machine L 3,165.00 L 553.89 L 3,718.89
------------------------------------------------------------------------------------------------
23-Jul Out Board Chain Hoist L 4,160.00 L 728.00 L 4,888.00
------------------------------------------------------------------------------------------------
6-Nov TMB Cabling L 3,271.17 L 572.45 L 3,843.62
------------------------------------------------------------------------------------------------
19-Jun ABS Cyclite Cases x4 L 1,375.00 L 240.63 L 1,615.63
------------------------------------------------------------------------------------------------
29-May Slick Trussing L 4,285.71 L 750.01 L 5,035.72
------------------------------------------------------------------------------------------------
25-Jun Vari-Lite VL2402 Broad beam Lights x11 L 24,328.59 L 4,257.50 L 28,586.09
------------------------------------------------------------------------------------------------
VL2201/2400 Transportation cases x6 L 2,074.90 L 363.10 L 2,438.00
------------------------------------------------------------------------------------------------
22-Jun Vari-Lite VL2402 Broad beam Lights x1 L 2,211.69 L 387.04 L 2,598.73
------------------------------------------------------------------------------------------------
11-May LCA Iris 4 lighting x12 L 9,600.00 L 1,680.00 L 11,280.00
------------------------------------------------------------------------------------------------
30-Apr Vari-Lite VL2402 Broad beam lights x30 L 77,286.24 L 13,525.09 L 90,811.33
------------------------------------------------------------------------------------------------
VL2201/2400 Transportation cases x15 L 5,187.30 L 907.77 L 6,095.07
------------------------------------------------------------------------------------------------
16-Jul SES Socapex Rack x2 L 7,440.00 L 1,302.00 L 8,742.00
------------------------------------------------------------------------------------------------
13-Jun SES 36-Way MCB L 3,720.00 L 651.00 L 4,371.00
------------------------------------------------------------------------------------------------
13-Jun SES 36-Way MCB L 3,720.00 L 651.00 L 4,371.00
------------------------------------------------------------------------------------------------
4-Apr TTI Viotech PM300 Analyser L 1,843.30 L 322.58 L 2,165.88
------------------------------------------------------------------------------------------------
21-Feb AC Lighting Short Nose Latern L 1,032.60 L 180.71 L 1,213.31
------------------------------------------------------------------------------------------------
28-Mar TMB Xxxxxx Zip Strip L 1,855.60 L 324.73 L 2,180.33
------------------------------------------------------------------------------------------------
28-Feb Slick 2 Way Maxi Beam L 1,460.34 L 255.56 L 1,715.89
------------------------------------------------------------------------------------------------
21-Mar Vari-Lite Transportation cases x55 L 80,330.69 L 14,057.87 L 94,388.56
------------------------------------------------------------------------------------------------
6B Conversion Kits L 21,292.92 L 3,726.26 L 25,019.18
------------------------------------------------------------------------------------------------
27-Feb LCA Fresnel Lamp L 1,090.00 L 190.75 L 1,280.75
------------------------------------------------------------------------------------------------
21-Feb ETC Console 800 Channel L 4,580.00 L 801.50 L 5,381.50
------------------------------------------------------------------------------------------------
1-Feb LTG Reiche&Vogel Light x11 L 4,240.50 L 742.09 L 4,982.59
------------------------------------------------------------------------------------------------
8-Feb Tomcat Trussing L 8,556.00 L 1,497.30 L 10,053.30
------------------------------------------------------------------------------------------------
21-Mar Vari-Lite VL6B Transportation cases x10 L 5,148.89 L 901.05 L 6,049.94
------------------------------------------------------------------------------------------------
6B Conversion Kits x60 L 42,585.83 L 7,452.52 L 50,038.35
------------------------------------------------------------------------------------------------
15-Feb Vari-Lite V16B Transportation case L 507.83 L 88.87 L 5,967.00
------------------------------------------------------------------------------------------------
6B Conversion Kits x6 L 4,200.25 L 735.04 L 4,935.29
------------------------------------------------------------------------------------------------
9-Feb Vari-Lite VL2416 Broad beam lights x64 L163,082.96 L 28,539.52 L191,622.48
------------------------------------------------------------------------------------------------
VL2201/2400 Transportation cases x32 L 8,306.85 L 1,453.69 L 9,760.54
------------------------------------------------------------------------------------------------
7-Jun SES 36-Way MCB x2 L 8,100.00 L 1,417.50 L 9,517.50
------------------------------------------------------------------------------------------------
23-Feb Vari-Lite Scroller transportation cases x2 L 356.71 L 62.42 L 419.13
------------------------------------------------------------------------------------------------
31-May Vari-Lite VL2402 Broad beam lights x30 L 76,745.78 L 13,430.51 L 90,176.29
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VL2201/V12400 Trnsptatn Cases x15 L 5,151.02 L 901.43 L 6,052.50
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9-Xxx Xxxx-Lite VL6B Transportation Cases x7 L 3,414.53 L 597.54 L 4,012.07
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6B Conversion Kits x40 L 28,209.47 L 4,936.66 L 33,146.13
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L659,477.71 L115,405.54 L780,253.59
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31-Xxx XxxXxxxx HPL Lamp 30.5 5.34 35.84
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GRAND TOTAL L659,447.21 115400.2 780217.75
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/s/ X. Xxxxx
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Authorised to sign for and on behalf of Vari-Lite Europe Limited
Name & title of Signatory: X. XXXXX FINANCIAL CONTROLLER
/s/ signature illegible
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Authorised to sign for and on behalf of Barclays Mercantile Business Finance Limited
Name & Title of Signatory: Business Co-Ordinator
You are responsible for taking delivery of the equipment; on delivery you
must make sure it is as described in the schedule and anything additional
needed to start it working or to use it must be arranged by you.
(2) We make no statement about the equipment other than that we have the
right to hire it out to you. We have not authorised the supplier or
anyone else to make any statement about it.
(3) Any condition, warranty or other term implied by law is excluded to the
full extent permitted by law. If you wish to have the benefit of any
equipment or service guarantee or warranty, you should arrange this
directly with the supplier, but we will, on request, let you have the
benefit of any that the supplier gives to us.
(4) Rentals are payable even if you are not satisfied with the equipment or
it does not work or do what you expected it to, needs maintenance or is
damaged; we are not liable for any loss of business, revenue, profit or
anticipated savings however caused.
6. INSURANCE
(1) You must insure the equipment until it is returned to us for its full
replacement value against loss or damage and against third party risks or
with comprehensive cover in the case of vehicles.
(2) We may require to approve your insurers and the terms of insurance, to
see your insurance policy and to have our ownership noted. If we are not
satisfied with your insurance, we may take out our own insurance at your
expense; you will reimburse us on demand.
(3) If the equipment is a total loss or stolen, you must promptly inform us
and we may either require the equipment to be replaced or you to pay us
the amount required to discharge your outstanding liability to us (see
clause 8).
(4) You authorise us to contact your insurers and, if the equipment is a
total loss or is stolen, consent to us disclosing the amount required to
discharge your outstanding liability to us and as your agent to negotiate
and agree with your insurers the terms of any insurance claim in respect
of the equipment and to receive any insurance proceeds payable.
(5) If any insurance cover you take out fails to cover your liability to us,
you will still be liable to us for any shortfall.
7. DEFAULT
(1) Certain events, which you must not allow to occur, are a default and
repudiation by you of each lease; they are that:
(a) we do not receive any rental within 10 days of its due date; or
(b) you breach any other term (and, if it can be remedied, you fail to
remedy the breach within 10 days of our notice requiring you to do
so); or
(c) (if you are an individual) an application for an interim order is
made against you or a petition for a bankruptcy order (in Scotland
for sequestration) is presented against you; or
(d) (if you are a company, trust or corporation) a receiver,
administrative receiver or liquidator is appointed to you or you are
dissolved or otherwise wound up; or
(e) distress (is Scotland diligence) or execution is threatened or made
against you (any of which automatically terminates each lease); or
(f) a meeting of your creditors is called or you propose a voluntary
arrangement or cease to trade or a petition for the appointment to
you of an administrator is presented; or
(g) (if in Scotland) you are apparently insolvent; or
(h) any company in the Barclays PLC Group withdraws any facility or
demands payment as a result of a default by you.
(2) If any of the events in clause 7(1) occurs, our consent to your
possession of the equipment ceases. We may then terminate any hiring,
enter your premises and take back the equipment. If we do not act
immediately, we will still have these rights.
(3) If we terminate the hiring or the agreement has terminated automatically,
without affecting our rights (including any right to damages and to our
costs of recovering the equipment), you must then pay us the amount
required to discharge your outstanding liability to us (see clause 8).
Receipt by us of part payment will not affect our rights.
8. YOUR LIABILITY ON TERMINATION
(1) Your outstanding liability to us (see clauses 6(3), 7(3) and 10) should
the hiring or lease terminate, will be any arrears of rental accrued and
by way of agreed compensation, a sum equal to the unpaid balance HP price
shown on the schedule less a rebate calculated by us for early payment of
any charges included in it.
(2) We shall deduct the value of the equipment from your liability; the value
will be what we have sold it for (net of expenses) or what we have
received from insurers.
9. YOUR OPTION TO PURCHASE
(1) You have the option to (but do not have to) purchase the equipment at
the expiry of the term if:
(a) we have received on the terms of this agreement all rentals shown in
the schedule and other sums then payable to us in respect of the
lease;
(b) you are not in default (see clause 7); and
(c) you pay us any option payment stated in the schedule plus any VAT
chargeable.
The equipment then becomes your property. We confirm that we will
have the right to pass title to you.
(2) If you wish to exercise your option to purchase prior to the expiry of
the term, you may only do so with our permission and on receipt by us of
the amount we quote to you as payable.
(3) Where the equipment includes computer software, ownership of the software
will remain with the owner or licensor of it and we grant you no option
to purchase it.
10. YOUR RIGHT TO TERMINATE
(1) You may terminate the hiring under any schedule without exercising your
option to purchase (see clause 9), but only if you:
(a) terminate the hiring of all other equipment under all other hire or
lease purchase agreements that are not regulated (by consumer credit
law) between us and you and your associated companies (defined by tax
law);
(b) pay the amount we quote you as payable under all such agreements,
which will include your outstanding liability to us under that
schedule (see clause 8); and
(c) return the equipment (see clause 11).
(2) Without our permission you may only pre-pay in compliance with these
terms.
11. RETURN OF EQUIPMENT
(1) Unless you validly exercise your option to purchase (see clause 9) you
must return the equipment (including any instruction books, registration
documents and service records) to us, to an address specified by us, when
the hiring of it has ended.
(2) On return the equipment must be in working order and good condition (fair
wear and tear excepted). Any costs incurred in returning the equipment
are payable by you.
THESE ARE YOUR DECLARATIONS WHEN YOU SIGN A SCHEDULE
You request us to (i) accept your offer to hire the equipment from us on the
terms and conditions of the lease (ii) upon our acceptance, date the schedule
and forward your payment instructions to your bankers.
You acknowledge that we have had no part in selecting the equipment and
exclude liability for its condition and suitability.
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SIGNATURE OF HIRER
Signed for and on behalf of the hirer
/s/ X. Xxxxx
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Name and title of signatory
X. XXXXX FINANCIAL CONTROLLER Authorised to sign
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SIGNATURE OF OWNER
Signed for and on behalf of Barclays Mercantile Business
Finance Ltd.
/s/ signature illegible
PLEASE LEAVE BLANK
Authorised to sign
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