Computer Lease Agreement
This Computer Lease Agreement is made between a Lessor
and the Lessee wherein the Lessee leases from the Lessor a
computer system and related equipment on certain terms and
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Entire document © Docstoc, Inc., 2010, 2011
COMPUTER LEASE AGREEMENT
THIS COMPUTER LEASE AGREEMENT (the “Lease”), made this ______ day of
_________________, 2_____, by and between __________________ (the “Lessor”) and
_______________ (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
(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:
1.01 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
shall be in effect until the Computer and Equipment are delivered to the Lessee by the
2.01 The term of this Lease shall commence on the _____ day of ____________, 2_____ and
shall continue for a period of ________ (___) months (the “Term”) ending on the ____
day of ____________, 2_____ (the “Termination Date”).
2.02 Prior to the Termination Date, the Lessee may extend the Term of this Lease for an
Additional ________ (___) month period, upon the Lessee providing ______ (___)
advance day’s 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
Computer and Equipment shall be returned to the Lessor in good working order and state
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 _______ (___) days’ advance written notice to the other party.
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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
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
(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
4.01 The Lessee agrees that it shall pay to the Lessor the sum of _____________ ($_______)
Dollars (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
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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 _______ (___%) per month. Any charges for taxes, penalties or
interest shall be paid promptly by the Lessee to the Lessor when invoiced by the
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.
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.
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7.02 The Lessee agrees that the Lessor shall inspect the Computer and Equipment upon
_________ (___) 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.
8.01 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.
9.01 The Lessee hereby agrees to assume liability for, and does hereby agree to indemnify,
protect, save and keep harmless 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,
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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:
To the Lessor at: _________________
Fax : (______) __________
To the Lessee at:___________________
Fax : (____) ______________
or at such other address as the Lessor or Lessee may direct.
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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.
I have authority to bind the Company.
I have authority to bind the Company.
or if Lessee is an individual
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COMPUTER AND EQUIPMENT SPECIFICATIONS
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