Equipment Lease Agreement
THIS EQUIPMENT LEASE (“Lease”) is made and effective [Date], by and between Healthvista India Private Limited, a Company registered under the Companies Act, 1956 and having its registered office at No.69/B, 1st Cross, 1st Stage, Domlur Layout, Bangalore – 560071], (“Lessor”) and [Name of Lessee] (“Lessee“).
Lessor desires to lease to Lessee, and Lessee desires to lease from Lessor an oxygen concentrator (the “Equipment”).
NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter set forth, the parties hereto agree as follows:
Agreement to Lease Equipment
- Lease of Equipment. In accordance with the terms and conditions of this Agreement to Lease Equipment (“Lease”), Healthvista India Private Limited, which operates under the brand Portea Medical (“Lessor”) shall lease to Lessee, and Lessee shall lease from Lessor, the Equipment for the Lease Period (defined below).
- Term of Lease. The term of this Lease shall commence on the date the Equipment is delivered by Lessor to Lessee (the “Delivery Date”) and continue for a period of 15 days (the “Lease Period”) thereafter. This Lease is non-cancelable by Lessor for any reason whatsoever, prior to the end of the Lease Period.
- Rent, Deposit and Miscellaneous charges. Lessee shall not be obligated to pay Lessor and Lessor shall not request or collect from Lessee any fees under this Lease, including without limitation any rent for the Equipment. However, the Lessee is obliged to pay the security deposit (“Deposit”) against the Lease of Equipment. The deposit is refundable and the Lessor will refund the deposit when the equipment is returned by the Lessee after the term of lease.
The Lessee shall mandatorily provide the list of documents to the Lessor as mentioned below for the purpose of enrollment as a dealer.
- RT-PCR Test Report / CT Scan Report;
- The Doctor’s prescription;
- ID & Address Proof;
- BPL Card
- Cancelled Cheque;
- Disclaimers: Warranties. Lessee acknowledges that Lessee leases the Equipment as is and, not being the manufacturer of the Equipment, the manufacturer’s agent, or the seller’s agent, Lessor makes no warranty or representation whatsoever to Lessee, express or implied, as to the merchantability, fitness for any particular purpose, design or condition of the Equipment, or intellectual property rights with respect to the Equipment.
- To the extent permitted by applicable law Lessor shall not be responsible to Lessee for any direct, indirect, incidental, or consequential damages arising from possession or use of the Equipment except to the extent such damages arise from Lessor’s: (i) material breach of this Lease which shall include without limitation a breach by Lessor of Section 8- Delivery; Installation; Return; Maintenance and Repair; Inspection, (ii) non-compliance with applicable law (iii) negligence or (iv) intentional misconduct. All transferable manufacturer and supplier warranty rights are, to the extent such rights have been transferred to the Lessor, hereby assigned without representation or warranty by Lessor to Lessee for the Lease Term, which warranties Lessee is authorized to enforce.
- Use of Equipment. Lessee shall use the Equipment solely for its intended purpose, home healthcare, and for the use contemplated by the manufacturer thereof as specifically conveyed by the Lessor to Lessee through instruction and/or in-person demonstration. Neither Lessor nor its assignee shall interfere with Lessee’s right to use the Equipment under any Lease. Lessee acknowledges and represents that the Equipment shall be and remain in personal property, notwithstanding the manner by which it may be attached or affixed to realty.
- Delivery; Installation; Return; Maintenance, Repair; and Inspection.
Lessor shall be solely responsible to Lessee, for the following services (“Services”) in connection with the Equipment:
- the delivery of the Equipment at the premises of the Lessee and pick-up within 2 days of the expiration of the Lease Period;
- providing Lessee prior to or on the Delivery Date with a detailed tutorial on how to properly and safely use the Equipment and providing immediate support 24/7, upon the Lessee’s request as to any questions Lessee has as to the use of the Equipment. Lessee may contact Lessor for such 24/7 support at the following Lessor phone number and email address_______________________________________________’.
- ensuring that the Equipment is in proper working condition within the Lease Period and providing immediate technical support/servicing 24/7 upon request from the Lessee. Lessee may contact Lessor at the following Lessor phone number and email address for such 24/7 technical support/servicing.
- promptly replacing during the Lease Period any Equipment that is not in proper working order, in accordance with the terms of this Lease, with new Equipment that is in proper working order,
- maintenance towards daily wear and tear of the Equipment, and
- inspecting and sanitizing the Equipment prior to delivery to Lessee and upon return from the Lessee
- the installation and de-installation of Equipment,
- Prohibitions Related to Lease Equipment. Without prior written consent of Lessor, Lessee shall not assign, lend, pledge, transfer, or sublease, the Equipment or the Lease, permit to exist any security interest, lien or encumbrance with respect to any Equipment.
- Alterations and Modifications. Lessee shall not modify or alter any item of Equipment.
- Entire Lease. No waiver or amendment of, or any consent with respect to, any provision of this Lease shall bind either party unless set forth in writing and signed by both parties.
- Governing Law. The parties expressly agree this Lease shall be governed in all respects by the Laws of India. Lessee hereby consents to personal jurisdiction and venue in the Courts of Bangalore, India.
- Notice. All notice, request, demand, consent, approval or other communication provided for or permitted in relation to this Lease shall be in writing (including via facsimile) and shall be delivered to the parties at their respective addresses set forth above.
LESSEE, BY THE SIGNATURE BELOW, ACKNOWLEDGES THAT IT HAS READ THIS LEASE, UNDERSTANDS IT, AND AGREES TO BE BOUND BY ITS TERMS AND CONDITIONS.