This is the rental agreement. It is your responsibility to read through and understand this agreement before you rent out the equipment. You will be prompted to read through this during checkout.
Commercial Rental Agreement Here
EQUIPMENT HIRE AGREEMENT
THIS EQUIPMENT HIRE AGREEMENT (this “Agreement”) dated (The date which you have selected)
BETWEEN:
Envy Night Vision Ltd.
(the “Owner”)
– AND –
You
(the “Hirer”)
(the Owner and Hirer are collectively the “Parties”)
IN CONSIDERATION OF the mutual covenants and promises in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the Owner leases the Equipment to the Hirer, and the Hirer leases the Equipment from the Owner on the following terms:
- Definitions
- The following definitions are used but not otherwise defined in this Agreement:
- “Casualty Value” means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment.
- “Equipment” means (Dependant on package hired) Night Vision Device (Blemed Gen 2 White Phosphorous tubes in MU-3 housing), Ops core Shroud, Wilcox G24 mount, J arm, Bridge Mount, Lanyard, FMA Maritime Helmet, FMA counter-weight pouch, FMA laser/illumination module.
- “Total Loss” means any loss or damage that is not repairable or that would cost more to repair than the market value of the Equipment.
- “You” The Hirer
- Lease
- The Owner agrees to lease the Equipment to the Hirer, and the Hirer agrees to lease the Equipment from the Owner in accordance with the terms set out in this Agreement.
- Term
- The Agreement commences upon payment of fee.
The agreement ends upon return of security deposit (the “Term”).
- Rent and Deposit
- The rent will be paid in advance, before taking possession of the Equipment. The rent will be agreed upon at time of purchase.
- The Hirer will pay a security deposit of £200.00 (the “Deposit”) before taking possession of the Equipment. The Owner will refund the Deposit to the Hirer at the end of the Term provided that the Hirer has performed all of the Hirer’s obligations under this Agreement.
- Delivery of Equipment
- The Owner will, at the Owner’s own expense and risk, deliver the Equipment to the Hirer at their home address
- Use of Equipment
- The Hirer will use the Equipment in a good and careful manner and will comply with all of the manufacturer’s requirements and recommendations respecting the Equipment and with any applicable law, whether local, state or federal respecting the use of the Equipment, including, but not limited to, environmental and copyright law.
- The Hirer will use the Equipment for the purpose for which it was designed and not for any other purpose.
- Unless the Hirer obtains the prior written consent of the Owner, the Hirer will not alter, modify or attach anything to the Equipment unless the alteration, modification or attachment is easily removable without damaging the functional capabilities or economic value of the Equipment.
- The hirer will not use the Equipment during daylight as this may cause damage to the device.
- Warranties
- The Equipment will be in good working order upon delivery.
- The Equipment is of merchantable quality and is fit for the following purpose: To enhance ambient light during the night.
- Loss and Damage
- To the extent permitted by law, the Hirer will be responsible for risk of loss, theft, damage or destruction to the Equipment from any and every cause.
- If the Equipment is lost or damaged, the Hirer will continue paying Rent, will provide the Owner with prompt written notice of such loss or damage and will, if the Equipment is repairable, put or cause the Equipment to be put in a state of good repair, appearance and condition. The Equipment is fully insured with the owner. Should there be a loss or damage the owner will take ownership of the security deposit and a claim will be made through the owners insurance company.
- In the event of Total Loss of the Equipment, the Hirer will provide the Owner with prompt written notice of such loss and will pay to the Owner all unpaid Rent for the Term plus the Casualty Value of the Equipment.
- Ownership, Right to Lease and Quiet Enjoyment
- The Equipment is the property of the Owner and will remain the property of the Owner.
- The Hirer will not encumber the Equipment or allow the Equipment to be encumbered or pledge the Equipment as security in any manner.
- The Owner warrants that the Owner has the right to lease the Equipment according to the terms in this Agreement.
- The Owner warrants that as long as no Event of Default has occurred, the Owner will not disturb the Hirer’s quiet and peaceful possession of the Equipment or the Hirer’s unrestricted use of the Equipment for the purpose for which the Equipment was designed.
- Surrender
- At the end of the Term or upon earlier termination of this Agreement, the Hirer will return the Equipment at the Hirer’s cost, expense and risk to the Owner by delivering the Equipment to. If the Hirer fails to return the Equipment to the Owner at the end of the Term or any earlier termination of this Agreement, the Hirer will pay to the Owner any unpaid Rent for the Term plus the Casualty Value of the Equipment plus 100% of the Casualty Value, at which point ownership of the Equipment will pass to the Hirer.
- Insurance
- The Owner has complete insurance on the Equipment.
- The insurance will be in the joint name of the Owner and the Hirer so that both the Owner and the Hirer will be protected from liability and will provide primary and non-contributing coverage for the Owner. The insurance policy will have a provision that it will not be modified or cancelled unless the insurer provides the Owner with thirty (30) days written notice stating when such modification or cancellation will be effective.
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- The Hirer appoints the Owner as the Hirer’s attorney-in-fact (“Attorney”) with the power to maintain the above insurance and to secure payments arising out of any insurance policy required by this Agreement. The Attorney has the power to do all acts that are necessary or desirable to secure such payments.
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- Taxes
- The Hirer will report and pay all taxes, fees and charges associated with the Equipment, with the use of the Equipment, and with revenues and profits arising out of the use of the Equipment, including, but not limited to, sales taxes, property taxes, and licence and registration fees. The Hirer will pay any and all penalties and interest for failure to pay any tax, fee or charge on or before the date on which the payment is due. The Hirer will pay any and all penalties and interest for failure to report required information to any taxing authority with jurisdiction over the Hirer or the Equipment. If the Hirer fails to do any of the foregoing, the Owner may, but is not obligated to, do so at the Hirer’s expense.
- Notwithstanding any other provision of this Agreement, the Hirer will not be required to pay any tax, fee or charge if the Hirer is contesting the validity of same in the manner prescribed by the legislation governing the imposition of same, or in the absence of a prescribed form, in a reasonable manner. However, the Hirer will indemnify and reimburse the Owner for damages and expenses incurred by the Owner arising from or related to the Hirer’s failure to pay any tax, fee or charge, regardless of whether the Hirer is contesting the validity of the same or not.
- If the Hirer fails to pay any and all taxes, fees, and charges mentioned in this Agreement and the Owner, on behalf of the Hirer, pays the same, the Hirer will reimburse the Owner for the cost upon notification from the Owner of the amount.
- Indemnity
- The Hirer will indemnify and hold harmless the Owner against any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including attorney’s fees and costs, arising out of or related to the Hirer’s use of the Equipment.
- Default
- The occurrence of any one or more of the following events will constitute an event of default (“Event of Default”) under this Agreement:
- The Hirer fails to pay any amount provided for in this Agreement when such amount is due or otherwise breaches the Hirer’s obligations under this Agreement.
- The Hirer becomes insolvent or makes an assignment of rights or property for the benefit of creditors or files for or has bankruptcy proceedings instituted against it under the bankruptcy law of the United Kingdom or another competent jurisdiction.
- A writ of attachment or execution is levied on the Equipment and is not released or satisfied within 10 days.
- Remedies
- On the occurrence of an Event of Default, the Owner will be entitled to pursue any one or more of the following remedies (the “Remedies”):
- Declare the entire amount of the Rent for the Term immediately due and payable without notice or demand to the Hirer.
- Apply the Deposit toward any amount owing to the Owner.
- Commence legal proceedings to recover the Rent and other obligations accrued before and after the Event of Default.
- Take possession of the Equipment, without demand or notice, wherever same may be located, without any court order or other process of law. The Hirer waives any and all damage occasioned by such taking of possession.
- Terminate this Agreement immediately upon written notice to the Hirer.
- Pursue any other remedy available in law or equity.
- The Hirer is entitled to the protection and remedies available to them under the Consumer Credit Act 1974.
- Renewal
- The Hirer may renew this Agreement for an additional Term if the Hirer has given the Owner 5 days written notice of the Hirer’s intention to renew and if the Hirer is not in default of any of the terms under this Agreement. Other than as agreed upon in writing between the Parties, the renewal will be on the same terms as this Agreement, except for this renewal clause.
- Additional Clauses
- The hirer will not use during daylight as this may cause damage to the device.
- The Hirer must submit proof of identity and proof of address before the Equipment will be sent.
- Entire Agreement
- This Agreement will constitute the entire agreement between the Parties. Any prior understanding or representation of any kind preceding the date of this Agreement will not be binding on either Party except to the extent incorporated in this Agreement.
- Address for Notice
- Service of all notices under this Agreement will be delivered personally or sent by registered mail or courier to the following addresses:Owner: Envy Night Vision Ltd., 9 Marchment Square, Peterborough, PE3 6QRHirer: You
- Payment
- All pound amounts in this agreement refer to pounds sterling, and all payments required to be paid under this Agreement will be paid in pound sterling unless the Parties agree otherwise.
- Interest
- Interest payable on any overdue amounts under this Agreement will be at a rate of 10.00 percent per annum or at the maximum rate allowed under applicable legislation, whichever is lower.
- Interpretation
- Headings are inserted for the convenience of the Parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.
- Governing Law
- This Agreement will be construed in accordance with and governed by the laws of England and the Parties submit to the exclusive jurisdiction of the English courts.
- Severability
- If there is a conflict between any provision of this Agreement and the applicable legislation of England (the “Act”), the Act will prevail and such provisions of the Agreement will be amended or deleted as necessary in order to comply with the Act. Further, any provisions that are required by the Act are incorporated into this Agreement.
- If there is a conflict between any provision of this Agreement and any form of lease prescribed by the Act, that prescribed form will prevail and such provisions of the Agreement will be amended or deleted as necessary in order to comply with that prescribed form. Further, any provisions that are required by that prescribed form are incorporated into this Agreement.
- In the event that any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, those provisions to the extent enforceable and all other provisions will nevertheless continue to be valid and enforceable as though the invalid or unenforceable parts had not been included in this Agreement and the remaining provisions had been executed by both Parties subsequent to the expungement of the invalid provision.
- General Terms
- This Agreement may be executed in counterparts. Facsimile signatures are binding and are considered to be original signatures.
- Time is of the essence in this Agreement.
- This Agreement will extend to and be binding upon and inure to the benefit of the respective heirs, executors, administrators, successors and assigns, as the case may be, of each Party to this Agreement.
- Neither Party will be liable in damages or have the right to terminate this Agreement for any delay or default in performance if such delay or default is caused by conditions beyond its control including, but not limited to Acts of God, Government restrictions, wars, insurrections, natural disasters, such as earthquakes, hurricanes or floods and/or any other cause beyond the reasonable control of the Party whose performance is affected.
- Notice to Hirer
- NOTICE TO THE HIRER: This is a lease. You are not buying the Equipment.
