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Lease Hire Agreement
"I need a Lease Hire Agreement for leasing 5 industrial printing machines to a medium-sized business, with maintenance services included and an option to purchase at the end of a 36-month term starting March 2025."
1. Parties: Identification of lessor and lessee with full legal names and details
2. Background: Context of the agreement and brief description of the arrangement
3. Definitions and Interpretation: Defined terms and rules for interpreting the agreement
4. Asset Details: Description of the leased asset(s) and their condition
5. Term and Commencement: Duration of lease and commencement date
6. Payment Terms: Lease payment amounts, frequency, and payment methods
7. Delivery and Return: Conditions for asset delivery and return
8. Usage Conditions: Permitted use and restrictions on asset usage
9. Maintenance and Repairs: Responsibilities for maintaining and repairing the asset
10. Insurance Requirements: Required insurance coverage and responsibilities
11. Risk and Liability: Allocation of risks and liability between parties
12. Default and Termination: Events of default and termination rights
13. General Provisions: Standard legal provisions including notices, governing law, and dispute resolution
1. Consumer Credit Protection: Required for consumer leases - includes mandatory consumer protection provisions and credit disclosures
2. Maintenance Services: Detailed maintenance terms when maintenance is included in the lease package
3. Multiple Location Provisions: Required when assets can be used across multiple locations
4. Security Deposit: Terms relating to security deposit if required
5. Purchase Option: Terms for end-of-lease purchase options if available
6. GST Registration: Required for business leases - GST registration details and tax treatment
7. Sub-leasing Provisions: Terms allowing or prohibiting sub-leasing of the asset
8. Upgrade Options: Terms for upgrading the asset during the lease period
1. Schedule 1 - Asset Specification: Detailed technical specifications of the leased asset
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment amounts and dates
3. Schedule 3 - Condition Report: Initial condition report of the asset
4. Schedule 4 - Insurance Requirements: Detailed insurance requirements and minimum coverage
5. Schedule 5 - Maintenance Schedule: Required maintenance schedule and procedures
6. Schedule 6 - Return Conditions: Detailed conditions for asset return at lease end
7. Appendix A - Usage Guidelines: Detailed guidelines for proper asset usage and operation
8. Appendix B - Service Level Agreement: Details of any included maintenance or support services
Authors
Asset
Business Day
Commencement Date
Condition Report
Default Event
Default Rate
Delivery Date
Deposit
Early Termination Fee
End Date
Equipment
Fair Wear and Tear
GST
Guarantor
Hire Charges
Initial Term
Insurance Requirements
Interest Rate
Lease Period
Lessee
Lessor
Maintenance Schedule
Option to Purchase
Payment Date
Payment Schedule
Permitted Use
PPSA
PPSR
Premises
Purchase Price
Renewal Period
Rental Payments
Return Conditions
Return Date
Schedule of Payments
Security Interest
Service Level Requirements
Term
Termination Date
Total Loss
Usage Limitations
Definitions
Term and Commencement
Delivery
Payment Terms
Security Deposit
Usage Rights
Usage Restrictions
Maintenance
Insurance
Risk and Title
Warranties
Indemnification
Default
Termination
Force Majeure
Assignment
Confidentiality
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Variation
Asset Return
Sub-hiring
Purchase Option
GST
Personal Property Securities
Consumer Protection
Costs and Expenses
Records and Inspection
Loss or Damage
Required Licenses
Compliance with Laws
Third Party Rights
Manufacturing
Construction
Mining
Agriculture
Transportation
Logistics
Healthcare
Information Technology
Retail
Hospitality
Professional Services
Education
Financial Services
Telecommunications
Energy
Legal
Finance
Procurement
Operations
Risk Management
Asset Management
Commercial
Treasury
Facilities Management
Contract Administration
Chief Financial Officer
Finance Manager
Procurement Manager
Operations Manager
Fleet Manager
Legal Counsel
Contract Administrator
Risk Manager
Asset Manager
Commercial Manager
Equipment Manager
Facilities Manager
Treasury Manager
Leasing Coordinator
Business Development Manager
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