Industrial Equipment Rental Agreement

Industrial Equipment Rental Agreement

Parties and Date

This Industrial Equipment Rental Agreement ("Agreement") is made as of by and between Lessor Name: with principal address and Lessee Name: with principal address .

Recitals

WHEREAS, Lessor owns certain industrial equipment and related components, accessories, and documentation used in heavy construction, manufacturing, or other industrial operations (collectively, "Equipment"); and

WHEREAS, Lessee desires to rent certain Equipment from Lessor for Lessee's operations on the terms and conditions set forth herein, and Lessor is willing to rent such Equipment to Lessee under those terms and conditions; and

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Agreement, the parties agree as follows.

Scope of Work / Use of Equipment

Lessee shall use the Equipment only for the purposes described above and in a manner consistent with manufacturer's instructions, applicable law, and industry standards. Lessee shall not operate the Equipment in hazardous conditions or in any way that would void manufacturer's warranty or increase risk without prior written consent from Lessor.

Equipment Schedule

Item 1

Item 2

Item 3

Payment Terms

Rental fees for the Equipment shall be calculated in accordance with the Equipment Schedule above and invoiced in U.S. dollars. Lessee shall pay Lessor as follows:

Late payments shall incur a late fee of per month on any past due balance, or a flat fee of $ , whichever is greater, calculated from the original due date until paid in full.

Lessee shall be responsible for all taxes, duties, and assessments arising from Lessee's use of the Equipment. All payments due hereunder shall be made without setoff or deduction.

Term and Termination

The rental term shall commence on and shall continue until , unless earlier terminated in accordance with this Agreement.

Either party may terminate this Agreement for cause upon material breach by the other party that remains uncured for days after written notice. For termination without cause, either party may terminate upon days' prior written notice to the other party. Early termination by Lessee may require payment of an early termination fee of $ .

Maintenance, Repair and Return

Lessee shall, at Lessee's expense, perform routine maintenance and keep the Equipment in good operating condition, ordinary wear and tear excepted. Lessee shall notify Lessor promptly of any malfunction, damage or need for major repair. Repairs costing over $ require Lessor's prior written authorization. Upon termination or expiration of the rental term, Lessee shall return the Equipment to Lessor in the same condition as received, reasonable wear and tear excepted.

Insurance and Indemnity

Lessee shall indemnify, defend and hold harmless Lessor, its agents and employees, from and against any and all claims, liabilities, losses, damages, costs and expenses (including reasonable attorneys' fees) arising from Lessee's possession, operation, use, storage, or transportation of the Equipment, except to the extent caused by Lessor's gross negligence or willful misconduct.

Confidentiality

Each party acknowledges that it may receive confidential or proprietary information of the other party relating to the Equipment, pricing, technical specifications, or business operations ("Confidential Information"). Each party agrees to hold Confidential Information in strict confidence, to use it only for performance under this Agreement, and to restrict disclosure to its employees or contractors with a need to know and who are bound to confidentiality obligations at least as protective as those herein. Confidential Information does not include information that is or becomes publicly available without breach of this Agreement, or that is rightfully received from a third party without restriction.

Limitation of Liability

EXCEPT FOR LIABILITY ARISING FROM A PARTY'S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL, SPECIAL, EXEMPLARY OR PUNITIVE DAMAGES, OR FOR LOST PROFITS, LOSS OF USE, OR BUSINESS INTERRUPTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE. THE AGGREGATE LIABILITY OF LESSOR FOR ANY CLAIM ARISING OUT OF THIS AGREEMENT SHALL NOT EXCEED THE TOTAL RENTAL PAYMENTS RECEIVED BY LESSOR UNDER THIS AGREEMENT DURING THE SIX (6) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO LIABILITY.

Assignment; Sublease

Lessee shall not assign this Agreement or sublease, pledge, or otherwise transfer possession of the Equipment without Lessor's prior written consent, which consent shall not be unreasonably withheld. Any attempted assignment or transfer without such consent shall be void and shall, at Lessor's option, constitute a material breach.

Governing Law; Entire Agreement

This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to conflicts of law principles. Any dispute arising out of or relating to this Agreement shall be resolved in the courts located in that State unless the parties mutually agree otherwise in writing.

This Agreement, including all schedules and attachments referenced herein, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations and understandings of the parties, whether written or oral. No amendment or modification shall be effective unless in writing and signed by both parties.

Additional Provisions

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