Net Equipment Lease 2

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Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Net Equipment Lease 2

Net Equipment Lease 2

LESSEE DETAILS

{{Lessee_Company_Name}}

{{Lessee_Company_Address}}

Registration Number: {{Lessee_Registration_Number}}

Contact Person: {{Lessee_Contact_Person}}

Email: {{Lessee_Email}}

Phone: {{Lessee_Phone}}

LESSOR DETAILS

{{Lessor_Company_Name}}

{{Lessor_Company_Address}}

Registration Number: {{Lessor_Registration_Number}}

Contact Person: {{Lessor_Contact_Person}}

Email: {{Lessor_Email}}

Phone: {{Lessor_Phone}}

EQUIPMENT DESCRIPTION

The Lessor hereby agrees to lease to the Lessee the following equipment (hereinafter referred to as 'the Equipment'):

Item: {{Equipment_Item_1}}, Make: {{Equipment_Make_1}}, Model: {{Equipment_Model_1}}, Serial Number: {{Equipment_Serial_Number_1}}

Item: {{Equipment_Item_2}}, Make: {{Equipment_Make_2}}, Model: {{Equipment_Model_2}}, Serial Number: {{Equipment_Serial_Number_2}}

(Add more equipment as required)

LEASE TERM

The lease shall commence on {{Start_Date}} and shall continue for a period of {{Lease_Term_Months}} months, terminating on {{End_Date}}.

LEASE PAYMENTS

The Lessee shall pay to the Lessor a monthly lease payment of {{Monthly_Lease_Payment_Currency}} {{Monthly_Lease_Payment_Amount}} ({{Monthly_Lease_Payment_Words}}) on or before the {{Payment_Due_Day}} day of each calendar month. The first payment is due on {{First_Payment_Date}}.

LESSEE'S RESPONSIBILITIES (NET LEASE)

The Lessee shall be solely responsible for all costs of maintaining, repairing, and insuring the Equipment, including but not limited to, all property taxes, levies, and any other charges associated with the ownership and use of the Equipment.

The Lessee shall keep the Equipment in good repair and operating condition, reasonable wear and tear excepted, and shall promptly perform all maintenance and repairs necessary to keep the Equipment in such condition.

The Lessee shall obtain and maintain at its own expense comprehensive insurance on the Equipment for its full replacement value, naming the Lessor as an additional insured and loss payee. Proof of insurance shall be provided to the Lessor upon request.

DEFAULT

In the event of any default by the Lessee in the payment of any lease instalment or in the observance or performance of any of the terms and conditions of this Agreement, the Lessor shall have the right to terminate this Agreement and repossess the Equipment without prejudice to any other remedies the Lessor may have at law.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of {{Governing_Jurisdiction}}.

ARBITRATION

Any dispute or difference arising out of or in connection with this Agreement shall be referred to and finally resolved by arbitration in accordance with the rules of the Arbitration Foundation of Southern Africa (AFSA).

SIGNATURES

___________________________ ___________________________

Lessee (Authorised Signatory) Lessor (Authorised Signatory)

Name: {{Lessee_Signatory_Name}} Name: {{Lessor_Signatory_Name}}

Date: {{Lessee_Signature_Date}} Date: {{Lessor_Signature_Date}}