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Equipment Lease Agreement With Option To Purchase
"I need an Equipment Lease Agreement with Option to Purchase for a fleet of 5 construction vehicles in Ireland, with a 36-month lease term starting March 2025 and an option to purchase at 40% of the original value after 24 months."
1. Parties: Identification of the lessor and lessee with full legal names and addresses
2. Background: Context of the agreement and brief description of the transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Equipment Description: Detailed description of the equipment being leased
5. Lease Term and Payments: Duration of the lease and payment terms including amounts, due dates, and payment methods
6. Delivery and Acceptance: Terms regarding equipment delivery, inspection, and acceptance procedures
7. Title and Risk: Clarification that title remains with lessor during lease term and allocation of risk
8. Use and Maintenance: Requirements for equipment use, maintenance, and repair obligations
9. Insurance: Insurance requirements and responsibilities
10. Purchase Option: Terms and conditions of the purchase option, including pricing and exercise procedure
11. Default and Remedies: Events of default and available remedies for both parties
12. Return of Equipment: Requirements for equipment return if purchase option not exercised
13. Representations and Warranties: Standard representations and warranties from both parties
14. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction details
15. Execution: Signature blocks and execution details
1. VAT and Tax Provisions: Detailed tax treatment and VAT implications - include when tax treatment is complex or parties need specific allocation
2. Assignment and Subletting: Rights to assign or sublet - include when these rights are important to either party
3. Environmental Compliance: Environmental requirements - include for equipment that may have environmental impacts
4. Software Licenses: Software licensing terms - include when equipment includes software components
5. Training and Support: Training and technical support provisions - include for complex equipment
6. Export Controls: Export control compliance - include for equipment that may be subject to export restrictions
7. Force Majeure: Force majeure provisions - include when specifically requested or for high-value equipment
8. Early Termination Rights: Early termination provisions - include when flexibility is needed
1. Schedule 1 - Equipment Specification: Detailed technical specifications of the equipment
2. Schedule 2 - Payment Schedule: Detailed payment terms including lease payments and purchase option calculations
3. Schedule 3 - Maintenance Requirements: Detailed maintenance procedures and schedules
4. Schedule 4 - Acceptance Certificate: Form of acceptance certificate to be signed upon delivery
5. Schedule 5 - Insurance Requirements: Detailed insurance requirements and minimum coverage
6. Schedule 6 - Return Conditions: Detailed conditions for equipment return if purchase option not exercised
7. Appendix A - Purchase Option Notice: Form of notice for exercising purchase option
8. Appendix B - Warranty Documentation: Manufacturer's warranties and additional warranty terms
Authors
Manufacturing
Construction
Agriculture
Technology
Healthcare
Transportation
Logistics
Mining
Energy
Telecommunications
Industrial Equipment
Office Equipment
Medical Equipment
Heavy Machinery
Renewable Energy
Legal
Finance
Procurement
Operations
Risk Management
Asset Management
Treasury
Facilities Management
Commercial
Contract Administration
Chief Financial Officer
Finance Director
Procurement Manager
Operations Director
Fleet Manager
Equipment Manager
Legal Counsel
Contract Manager
Risk Manager
Asset Manager
Treasury Manager
Financial Controller
Operations Manager
Facilities Manager
Commercial Director
Business Development Manager
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