EQUIPMENT LEASE AGREEMENT
THIS EQUIPMENT LEASE AGREEMENT (the “Agreement”) is by and between the Lessor (Aeriform Sports) and Lessee (the customer associated with the purchasing account). Subject to the terms stated herein, Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor the Equipment(s) identified as (but not limited to nor all inclusive of): Lacrosse Helmet, Shoulder Pads, Gloves, Elbow Pads, Goalie chest protector. Not included in the Equipment (but not limited to): Lacrosse stick, cleats, protective cup, mouth piece.
- Lease Term. The lease term shall begin on the Commencement Date stated below (Date of delivery) and shall continue for a period of one month (the “Initial Term”). On the expiration of the Initial Term, the lease term will automatically renew on a month-to-month basis (the “Secondary Term”).
- Initial Payment. Due on or before the commencement date, the Lessee shall pay the Security Deposit (if applicable), first month’s Lease Payment, along with any other applicable fees.
- Lease Payment Due Date. The Lease Payment shall be due on the 1st of day of each term by auto-withdrawal.
- Termination of Agreement by Lessee. Should Lessee wish to terminate this Agreement prior to expiration of the term, it must provide at least seven days notice along with the Equipment prior to the end of the term. No refunds will be provided for any days unused within a lease term. The term will not terminate until the return of the Equipment.
- Termination of Agreement by Lessor. This agreement shall automatically terminate should Lessee be in Default for 5 or more days. Should this Agreement terminate due to Lessee’s default, an automatic fee of $100 will be charged each month until the return of the Equipment. Lessor may also terminate this Agreement by fourteen days written notice to Lessee. Should Lessor terminate this Agreement for any reason other than Default, any Lease Payments due within the 14 days will be waived. If the Equipment is not returned on or before 14 days after notice, a fee of $100 will be charged each month until the return of the Equipment.
- Other Charges on Termination. In addition to any outstanding or remaining Lease Payments due under any term terminated, Lessor retains the right to recover any damages resulting in Lessee’s failure to fulfill all of the provisions of this agreement, including reasonable and necessary attorney’s fees.
- Default. Lessor may terminate this lease at any time and repossess the property without legal process: (1) if Lessee violates any of the lease provisions and fails to cure such a violation within fifteen (15) days of the violation.
- Lessee Responsible For Appliances. While appliances are in possession of Lessee it is their responsibility to correctly use and maintain Equipment. Lessee agrees to be liable for damage, injury, or activity caused by use of the Equipment, including but not limited to use of the Equipment in a fashion in accordance with intended use that results in injury of the Lessee, the user, or another person(s). Lessee agrees to notify Lessor immediately of any malfunctioning, breaks, tears, or change to the Equipment that may nullify the intended use.
- Late Fee. A Late Payment fee of $10 will be applied when a full Lease Payment is not received within 3 days of its due date.
- Returned Check Fee. Checks returned for any reason are subject to a $30.00 administrative charge.
- Lessor shall deliver the Equipment upon signing of this document and payment for the Initial Term. Lessor also is committed to providing deodorizing and sanitation services twice each term, and in doing so will return the Equipment or equitable Equipment prior to next required use, unless otherwise agreed upon. Lessor shall have no liability for damages resulting from any delay in the delivery or pickup of the Equipment. Lessee hereby agrees to indemnify and hold Lessor harmless from any damages to persons or property sustained by anyone in the process of delivering or recovering the Equipment covered hereby.
- Responsibility for maintaining the Equipment. Lessee is responsible for maintaining the property in good condition, subject to ordinary wear and tear. Lessee agrees not to cause any loss or damages to any of the Equipment or any part thereof. If Lessee fails to return the Equipment as required, Lessee will be liable to Lessor for all other payments and charges due under this Agreement.
- Service. Sanitization and deodorizing service costs are included as part of this Agreement under the cost of the Term. Should Maintenance and/or repair be needed, equitable replacement Equipment will be provided at no cost to the Lessee. This excludes malicious damage, theft, or misplacement in which case Lessee agrees to pay a minimum of $150.00 for replacement of Equipment (except for such service required due to normal wear and tear) during the term of this Agreement.
- Warranties. Lessor is not the manufacturer of the Equipment provided under this Agreement. Lessor makes no warranty, certification of safety, express or implied, with regard to such property, including, but not limited to any implied warranty of merchantability or fitness for a particular purpose.
- No Assignment. This agreement may not be assigned in whole or part by Lessee.
- Title. It is understood that this transaction is a rental and not a conditional sale or financing agreement. Title and ownership to each item of the property shall remain with Lessor until such time as a bill of sale is presented by Lessor to Lessee in the event of a sale of the property.
- No Waiver. Any failure by Lessor to require full performance by Lessee of the Agreement shall not affect Lessor’s right to demand such performance in the future.
- Cancellation. Lessee may not cancel this Agreement at any time, but may choose to Terminate according to item 4.
- Return of Equipment. At the end of the Term, the Lessee must return the Equipment at its own expense, unless it renews the Lease or buys the Equipment.
- SEVERABILITY: If any part or parts of this Agreement shall be held unenforceable for any reason, the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited.
- GOVERNING LAW: This Agreement shall be governed by and construed in accordance with the laws of the State of Texas.
- WAIVER: The failure of either party to enforce any provisions of this Agreementshall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. The acceptance of rent by Lessor does not waive Lessor’s right to enforce any provisions of this Agreement.
- Entire Agreement. This agreement contains the entire agreement between Lessor and Lessee and supersedes all prior agreements between Lessor and Lessee whether written or oral and may be amended only by written document signed by both parties.