Heavy Equipment Lease Agreement Philippines

Neither this lease nor any part thereof may be assigned or transferable under the law. When proceedings under the Bankruptcy Act, as in force, are initiated by or against the Tenant, if the Tenant is declared insolvent, if the Tenant benefits from an assignment for the benefit of its creditors or when a Notice of Seizure or Enforcement is issued on the Device and is not released or satisfied within ten (10) days thereafter: or where a beneficiary is designated in connection with a proceeding or act in which the lessee is a party entitled to take possession or control of the appliance, the lessor shall have at his disposal and exercise one or more of the remedies referred to in Section 14 of this Agreement; and this lease ends immediately at the choice of the lessor without notice and is not treated as an asset of the tenant after the exercise of this option. The agreement, the lessor is a deposit of P_________ held by the lessor until the termination of the lease agreement, on the date on which this deposit is set off against the amount due by the lessor This instrument constitutes the entire agreement between the parties on the subject matter of this agreement and can only be modified by a subsequent letter signed by the parties, are modified or modified. 10. CHANGES. The tenant may not make any changes to the equipment without the prior written consent of the lessor. All modifications are the property of the owner and are subject to it in the long term. The landlord has the right to inspect the appliances upon request during the tenant`s normal business hours. aircraft rented on 15.01.2006 or before 15.01.2006. It is the duty of the lessor to deliver the rented equipment to the renter on or before the delivery date to the following location: Bob Smith, LLC-Bureaux – Los Angeles, CA. 21. GLOBAL AGREEMENT.

This Agreement, including all attachments and part of this Agreement, constitutes the entire agreement between the Lessor and the Lessee with respect to the subject matter of the Contract. This Agreement supersedes all prior agreements, assurances or transactions between the Parties. 10. EXPIRATION OF THE RENTAL AGREEMENT: Upon expiry of the term of this rental agreement or upon its termination, as provided, the tenant will immediately provide the lessor with all the appropriate keys and in the current state of quality and expected preservation, normal use without all occupants, furniture, items and effects of any kind whatsoever. Failure by the tenant to comply with the conditions of this clause gives the lessor the right to refuse, at the latter`s choice, the acceptance of the delivery of the premises and to oblige the tenant to pay the rent at the same rate increased by twenty-five (25)% as a penalty until the tenant has complied with the conditions of this agreement. The same penalty is imposed if, for any reason, the tenant does not leave the premises after the expiry of this lease or termination. An equipment rental contract is a very important document because it contains the terms of the contract between the lessor and the tenant. If you need to create the template for your business, be sure to include these parts: 7. CARE AND OPERATION. Devices may only be used and operated with care and as appropriate.

Its use must comply with all laws, regulations and regulations relating to the possession, use or maintenance of the devices, including registration and/or licensing requirements, if any.. . .