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Computer Lease Agreement

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Computer Lease Agreement Powered By Docstoc
					This is an agreement between a company that leases out computers and a consumer
who wants to lease a computer for a period of time. This agreement can be customized
by the user to fit the specific needs of the parties. Customizable clauses include the
type of computer, the term of the lease, termination, and the rate charged. “Schedule A”
of the agreement details the computer and equipment specifications to ensure
recordation of the computers and equipment that are being leased. This agreement
should be used by small businesses or other entities that lease computers for a period
of time.
                           COMPUTER LEASE AGREEMENT

        THIS COMPUTER LEASE AGREEMENT (hereinafter the “Lease”), made this
______ day of _________________, _____, by and between __________________ [LESSOR’S
NAME](the “Lessor”) and _______________ [LESSEE’S NAME](the “Lessee”).

          WHEREAS, the Lessee is desirous to lease from the Lessor a computer system and
related accessories and attachments more particularly described on Schedule “A” annexed hereto
(hereinafter the “Computer and Equipment”);

          AND WHEREAS, the Lessor is desirous to lease to the Lessee the computer system
and related accessories and attachments described on Schedule “A” annexed hereto, pursuant to
the terms and conditions contained herein.

         NOW THEREFORE in consideration of the mutual promises and agreements contained
         in this agreement, and other good and valuable consideration, the parties agree as
         follows:

1.0        LEASE

1.01     The Lessor hereby agrees to lease to the Lessee the Computer and Equipment more
         particularly described on Schedule “A” annexed hereto.

1.02     The Lessor and the Lessee hereby agree that the terms and conditions of this Lease s shall
         be in effect until the Computer and Equipment are delivered to the Lessee by the Lessor.


2.00       TERM

2.01     The term of this Lease shall commence on the _____ day of ____________, _____ and
         shall continue for a period of _________________ [AMOUNT IN WORDS] (___
         [AMOUNT IN NUMERALS]) months (the “Term”) ending on the ____ day of
         ____________, _____ (hereinafter the “Termination Date”).

2.02     Prior to the Termination Date, the Lessee may extend the Term of this Lease for an
          Additional _________________ [AMOUNT IN WORDS] (___ [AMOUNT IN
         NUMERALS])-month period, upon the Lessee providing _________________
         [AMOUNT IN WORDS] (___ [AMOUNT IN NUMERALS]) advance days’ written
         notice to the Lessor of the Lessee’s desire to extend the Term.

2.03     In the event the Lessee does not extend the Term of this Lease, the Lessee shall return to
         the Lessor at the Lessor’s principal place of business, the Computer and Equipment. The


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         Computer and Equipment shall be returned to the Lessor in good working order and state
         of repair.

2.04     In the event the Lessor or the Lessee wish to terminate this Lease for any reason
         whatsoever prior to the Termination Date, the party wishing to terminate this Lease shall
         provide _________________ [AMOUNT IN WORDS] (___ [AMOUNT IN
         NUMERALS]) days’ advance written notice to the other party.

2.05     The Lessor and the Lessee hereby agree that termination of this Lease shall occur
         automatically under the following any of the following circumstances:

         (i)      the Lessee fails to pay the Fees to the Lessor; or

         (ii)     the Lessee breaches any of the material terms and conditions of this Lease.

3.00       CARE OF COMPUTER AND EQUIPMENT

3.01     The Lessee hereby agrees that it shall exercise all due and reasonable care in the
         operation and handling of the Computer and Equipment and further agrees that it shall
         service the Computer and Equipment at regular intervals.

3.02     The Lessee acknowledges that use of the Computer and Equipment by the Lessee will
         encounter reasonable wear and tear and depreciation in the value of the Computer and
         Equipment.

3.03     The Lessee agrees that it shall be solely responsible and liable for any damage or repairs
         to be done to the Computer and Equipment which are not deemed reasonable wear and
         tear by the Lessor. The Lessee hereby further agrees that the Lessor will not accept any
         costs of damages or repairs to the Computer and Equipment where:

         (i)      the Lessee is negligent in its use or misuse which causes damage to the Computer
                  and Equipment;

         (ii)     the damage to the Computer and Equipment is intentional; and


         (iii)    the damage, depreciation or wear and tear is outside the terms of this Lease.


3.04       In the event the Computer and Equipment is lost or stolen, the Lessee hereby agrees
that it shall notify the Lessor immediately.

4.00       LEASE FEES


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4.01     The Lessee agrees that it shall pay to the Lessor the sum of _____________________
         [AMOUNT IN WORDS] dollars ($_________ [AMOUNT IN NUMERALS])
         (hereinafter the “Fee”) for the lease of the Computer and Equipment.



4.02     The Lessee shall pay the Fees to the Lessor on the ____ day of each and every month
         until the Termination Date. The Lessee shall pay the first instalment of Fees due and
         owing to the Lessor upon the Lessee receiving the Computer and Equipment from the
         Lessor.



4.03        Interest shall be due and payable by the Lessee in the event the Lessee fails to make
            payment of the Fees to the Lessor contemplated in Article 4.02 hereof. Interest shall
            accrue at the rate of _______ [AMOUNT IN WORDS] percent (__% [AMOUNT IN
            NUMERALS] per month. Any charges for taxes, penalties or interest shall be paid
            promptly by the Lessee to the Lessor when invoiced by the Lessor.

5.00        INSTALLATION OF COMPUTER AND EQUIPMENT

5.01        Lessee agrees that it will provide the required suitable electric current to operate the
            Computer and Equipment and/or suitable place of installation for the Computer and
            Equipment with all appropriate facilities as specified by the manufacturer.

5.02        The Lessee agrees that it shall at all times keep the Computer and Equipment in its
            sole possession and control.

5.02        The Lessee is permitted to make alterations and amendments to the Computer and
            Equipment upon the Lessee obtaining the prior written consent of the Lessor to do so.
            Unless the Lessor shall otherwise agree in writing, all such alterations and
            amendments shall be and become the property of the Lessor or, at the option of the
            Lessee, shall be removed by the Lessee and the Computer and Equipment restored at
            Lessee's expense to its original condition, reasonable wear and tear only excepted.

6.00        SERVICE OF COMPUTER AND EQUIPMENT

6.01        The Lessee hereby agrees that it shall throughout the Term of this Lease and at its sole
            cost and expense, keep the Computer and Equipment in good working order and
            condition and shall make all necessary repairs and replacements thereto.

6.02        The Lessee hereby agrees that the Computer and Equipment shall not at any time be
            used by the Lessee for any unlawful purpose.


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6.03        The Lessee hereby agrees that it shall at all times throughout the Term of the Lease,
            comply with any and all governmental laws of the governing jurisdiction in respect of
            the use and operation of the Computer and Equipment.

7.00        OWNERSHIP OF COMPUTER AND EQUIPMENT

7.01        The Lessee acknowledges and agrees that the Computer and Equipment shall at all
            times remain the sole property of the Lessor.

7.02        The Lessee agrees that the Lessor shall inspect the Computer and Equipment upon
            _________________ [AMOUNT IN WORDS] (___ [AMOUNT IN NUMERALS])
            days’ prior written notice by the Lessor of its intention to inspect the Computer and
            Equipment.

7.03        The Lessee agrees that it shall keep the Computer and Equipment free and clear of all
            liens and encumbrances of any kind whatsoever and further agrees that it shall not
            assign any of its rights contained in this Lease to any other party without the prior
            written consent of the Lessor.

8.00        WARRANTIES

8.01        EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED HEREIN, THERE ARE
            NO REPRESENTATIONS OR WARRANTIES OF ANY KIND EXPRESS OR
            IMPLIED, WITH RESPECT TO THE CONDITION OR PERFORMANCE OF THE
            COMPUTER OR EQUIPMENT, ITS MERCHANTABILITY OR FITNESS FOR A
            PARTICULAR PURPOSE, OR WITH RESPECT TO PATENT INFRINGEMENT
            OR THE LIKE. LESSOR SHALL HAVE NO LIABILITY TO LESSEE FOR ANY
            CLAIM, LOSS OR DAMAGE OF ANY KIND OR NATURE WHATSOEVER, NOR
            SHALL THERE BE ANY ABATEMENT OF RENTAL, ARISING OUT OF OR IN
            CONNECTION WITH THE DEFICIENCY OR INADEQUACY OF THE
            COMPUTER OR EQUIPMENT FOR ANY PURPOSE, WHETHER OR NOT
            KNOWN OR DISCLOSED TO LESSOR, ANY DEFICIENCY OR DEFECT IN THE
            COMPUTER OR EQUIPMENT, THE USE OR PERFORMANCE OF THE
            COMPUTER OR EQUIPMENT, ANY INTERRUPTION OR LOSS OF SERVICE
            OR USE OF THE COMPUTER OR EQUIPMENT, OR ANY LOSS OF BUSINESS
            OR OTHER CONSEQUENTIAL LOSS OR DAMAGE WHETHER OR NOT
            RESULTING FROM ANY OF THE FOREGOING. LESSEE WILL DEFEND,
            INDEMNIFY AND HOLD LESSOR HARMLESS AGAINST ANY AND ALL
            CLAIMS, DEMANDS, AND LIABILITIES ARISING OUT OF OR IN
            CONNECTION WITH THE DESIGN, MANUFACTURE, POSSESSION OR
            OPERATION OF THE COMPUTER OR EQUIPMENT.

9.00        INDEMNIFICATION


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9.01        The Lessee hereby agrees to assume liability for, and does hereby agree to indemnify,
            protect, save and keep harmless, to the fullest extent allowed by law, Lessor and its
            respective successors, assigns, legal representatives, agents and servants, from and
            against, any and all liabilities, obligations, losses, damages, penalties, claims, actions,
            suits, costs, expenses or disbursements (including legal fees and expenses) of any kind
            and nature whatsoever which may be imposed on, incurred by or asserted against
            Lessor or any of its respective successors, assigns, legal representatives, agents and
            servants (whether or not also indemnified against by the manufacturer(s) of the
            Computer and Equipment or any other person), in any way relating to or arising out of
            this Lease or any document contemplated hereby, or the performance or enforcement
            of any of the terms hereof, or in any way relating to or arising out of the manufacture,
            purchase, acceptance, rejection, return lease, ownership, possession, use, condition,
            operation, sale, or other disposition of the Computer or Equipment or any accident in
            connection therewith (including, without limitation, latent or other defects, whether or
            not discoverable); provided, however, that Lessee shall not be required to indemnify
            the Lessor or its respective successors, assigns, legal representatives, agents, and
            servants, for loss or liability in respect of the Computer and Equipment arising from
            acts or events which occur after possession of the Computer and Equipment has been
            returned to Lessor or loss or liability resulting from the willful misconduct or gross
            negligence of the party otherwise to be indemnified hereunder. The Lessee agrees that
            the Lessor shall not be liable to the Lessee for any liability, claim, loss, damage, or
            expense of any kind or nature arising in strict liability or caused directly or indirectly
            by the inadequacy of the Computer and Equipment for any purpose or any deficiency
            or defect therein or the use or maintenance thereof or any repairs, servicing or
            adjustments thereto or any delay in providing or failure to provide any thereof or any
            interruption or loss of service or use thereof or any loss of business.

10.00      GENERAL PROVISIONS

10.01       The division of this Lease into Articles, sections, subsections, paragraph and
            subparagraphs and the insertion of headings are for the convenience of reference only
            and shall not affect the construction or interpretation hereof.

10.02 Any notice or other document authorized or required to be sent hereunder shall be in
      writing and shall be sent as follows:



         In the case of the Lessor, to:

                  ______________________________ [LESSOR’S ADDRESS]

                  ______________________________


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                  Fax: (____) _____-______________



         In the case of the Lessee, to:

                  ______________________________ [LESSEE’S ADDRESS]

                  ______________________________

                  Fax: (____) _____-______________

         or at such other address as the Lessor or Lessee may direct.

10.03       Any dispute concerning the validity, meaning, or effect of this Lease or default
            contemplated herein shall be settled in final terms under the Rules of Arbitration of the
            governing jurisdiction by a single arbitrator appointed in accordance with such rules,
            and the place of arbitration shall be the City of ______________.

10.04       This Lease shall be binding upon and enure to the benefit of the parties hereto and
            their respective executors, administrators, successors and assigns.

10.05       Neither the Lessor or Lessee shall make any amendment to this Lease without the
            prior written consent of the other party.

10.06       This Lease shall be governed by and interpreted always in accordance with the laws of
            the State of _________________.


             IN WITNESS WHEREOF, the parties have executed this Lease as of the day and
year first written above.


                                                              (LESSOR)
                                                              Per:



                                                              Name:
                                                              Title:
                                                              I have authority to bind the Company.

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                                                              (LESSEE)
                                                              Per:



                                                              Name:
                                                              Title:
                                                              I have authority to bind the Company.

or if Lessee is an individual



Witness:                                                      Lessee




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                                              SCHEDULE “A”

                      COMPUTER AND EQUIPMENT SPECIFICATIONS




                                              _______________
© Docstoc®, Inc. 2011 – All Rights Reserved

				
DOCUMENT INFO
Description: This is an agreement between a company that leases out computers and a consumer who wants to lease a computer for a period of time. This agreement can be customized by the user to fit the specific needs of the parties. Customizable clauses include the type of computer, the term of the lease, termination, and the rate charged. “Schedule A” of the agreement details the computer and equipment specifications to ensure recordation of the computers and equipment that are being leased. This agreement should be used by small businesses or other entities that lease computers for a period of time.
This document is also part of a package Technology Services and Agreements 38 Documents Included