EQUIPMENT RENTAL AGREEMENT
OWNER: REAL MEDIA INC.
Address: Unit #17-5511 Tomken Road Mississauga, ON L4W 3Y3
Monthly Rental Rate: #rentalfee# per month starting #date# and continuing in
perpetuity with 50% paid on the 15th of the month and 50% paid at the end of the month until all
equipment is returned to the OWNER in good condition and the EQUIPMENT RENTAL AGREEMENT
has been terminated by the OWNER.
RENTAL TERMS AND CONDITIONS
- The RENTER shall keep and maintain the rented equipment during the terms of the rental at his own
cost and expense. He shall keep the equipment in a good state of repair, normal wear and tear excepted.
- The RENTER shall pay the OWNER full compensation for replacement for replacement and/or repair of
any equipment which is not returned because it is lost or stolen or any equipment which is damaged and
in need of repair to put it into the same condition it was in at the time of rental, normal wear and tear
excepted. The OWNER’s invoice for replacement or repair is conclusive as to the amount RENTER shall
pay under this paragraph for repair or replacement.
- The equipment shall be delivered to RENTER and returned to OWNER at the RENTER’s risk, cost and
expense. If a periodic rental rate is charged by OWNER, rental charges are billed to the RENTER for
each period or portions of the period from the time the equipment is delivered to RENTER until its return.
If the equipment is not returned during or at the end of the term, then the rental charges shall continue on
a full term basis for any additional term or portion thereof until the equipment is returned.
- No allowance will be made for any rented equipment or portion thereof which is claimed not to have
been used. Acceptance of returned equipment by OWNER does not constitute a waiver of any of the
rights OWNER has under the rental agreement.
- If the RENTER is in default of any of the terms and conditions of this agreement, the OWNER, and his
agents, at the RENTER’s risk, cost and expense may at any time enter the RENTER’s premises where
the rented equipment is stored or used at all time and recover the rented equipment.
- The RENTER shall not pledge or encumber the rented equipment in any way. The OWNER may
terminate this agreement immediately upon the failure of RENTER to make rental payments when due, or
upon RENTER’s filling for protection from creditors in any court of competent jurisdiction.
- The OWNER makes no warranty of any kind regarding the rented equipment, except that OWNER
shall replace the equipment with identical or similar equipment if the equipment fails to operate in
accordance with the manufacturer’s specifications and operation instructions. Such replacement shall be
made as soon as practicable after RENTER returns the non-conforming equipment.
- RENTER indemnifies and holds OWNER harmless for all injuries or damage of any kind for
repossession and for all consequential and special damages for any claimed breach of warranty.
- The RENTER shall pay all reasonable attorney and other fees, the expenses and costs incurred by the
OWNER in protection of its rights under this rental agreement and for any action taken by the OWNER to
collect any amounts due the OWNER under this rental agreement.
- The RENTER and its authorized representative acknowledge full responsibility for personal injury or
property damage and for the safety and well-being of all persons using the equipment while the
equipment is rented from OWNER. The RENTER holds harmless and indemnifies OWNER. for all claims,
of any nature, that arise from the direct or indirect use and rental of the equipment by the organization or
any use of the equipment by any person. The RENTER is responsible for any damage to the equipment
during the rental period, including, at OWNER’s sole discretion, repair or replacement.
- These terms are accepted by the RENTER upon delivery of the terms to the RENTER or the
agent or other representative of RENTER.
OWNER: Real Media Inc.Draw you signature here: