Equipment Lease Agreement printable pdf download

EQUIPMENT LEASE AGREEMENT

Between

_____________________ (Lessor)

And

(ORGANISATION NAME) (Lessee)

Parties - This is a Lease Agreement between ______________ ("Lessor"), a company organized

under the laws of ______________, and (Organisation Name) ("(ORGANISATION NAME)"), a

nonprofit religious corporation organized under the laws of California, pursuant to which Lessor

agrees to lease [e.g., “certain video equipment”] owned by Lessor to (ORGANISATION NAME), and

(ORGANISATION NAME) agrees to hire such equipment from Lessor.

Leased Equipment - The items listed below are the items that are the subject of this agreement (the

"Leased Equipment"). The list of Leased Equipment may be amended from time to time in a writing

signed by both parties.

[list items]

Term and Termination

a. The term of this Lease Agreement shall be for a period of one year, beginning ______ and

ending on _____________.

b. Upon expiration of this Agreement, (ORGANISATION NAME) will pay the costs of shipping the

Leased Equipment to ___________.

c. Either party may terminate this Lease Agreement without cause by giving thirty (30) days

written notice to the other party. The parties shall deal with each other in good faith during

the 30-day period after which any such notice has been given. Upon any such early

termination, (ORGANISATION NAME) will relinquish possession of the Leased Equipment to

Lessor and (ORGANISATION NAME) will have no further obligation to make payments under

this Agreement. If Lessor requests termination, Lessor shall bear all costs of removing the

Leased Equipment from the location where it is being utilized by (ORGANISATION NAME). If

(ORGANISATION NAME) requests termination, at Lessor's option (ORGANISATION NAME) shall

either turn over possession at the location where the Leased Equipment is being utilized, or

bear the cost of returning the Leased Equipment to _____________.

Payments - In consideration for the use of the Leased Equipment, for so long as this Agreement

remains in force, (ORGANISATION NAME) agrees to pay Lessor the sum of __________ per month.

The first such payment will be due on ____________, and thereafter payments will be due on or

before the 15th day of each month, with the twelfth and final payment to be made on or before

_____________. Payments will be made by _______ [bank wire transfer to X account, etc.]

Use of Leased Equipment - The Leased Equipment will be used by ___________ [prime

Equipment Lease Agreement