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Master Leasing Agreement
1. Parties: Identification of lessor and lessee with full legal names, registration numbers, and addresses
2. Background: Context of the agreement, relationship between parties, and general purpose of the master leasing arrangement
3. Definitions: Detailed definitions of key terms used throughout the agreement, including financial terms, technical terms, and agreement-specific concepts
4. Scope of Agreement: Framework for individual leases, types of assets covered, and general principles of the leasing arrangement
5. Process for Individual Leases: Procedures for requesting, approving, and executing individual lease schedules under the master agreement
6. Delivery and Acceptance: Terms governing the delivery of leased assets and the acceptance process
7. Lease Payments: Payment terms, calculation of lease payments, payment schedules, and late payment consequences
8. Title and Risk: Ownership rights, risk allocation, and responsibilities regarding the leased assets
9. Maintenance and Use: Obligations regarding the maintenance, use, and care of leased assets
10. Insurance: Required insurance coverage, responsibilities for insurance, and claims procedures
11. Representations and Warranties: Standard representations and warranties from both parties
12. Events of Default: Definition of default events and consequences
13. Remedies: Rights and remedies available to parties in case of breach or default
14. Term and Termination: Duration of the master agreement and termination provisions
15. Return of Assets: Conditions and procedures for returning leased assets
16. General Provisions: Standard legal provisions including notices, amendments, assignment, governing law, and jurisdiction
1. Financial Covenants: Additional financial requirements and ratios to be maintained by lessee, typically included for high-value leases or when lessee's financial stability is crucial
2. Parent Company Guarantee: Provisions regarding parent company guarantees, included when additional security is required
3. Purchase Option: Terms for potential purchase of leased assets, included when purchase options are offered
4. Asset Substitution: Procedures for substituting leased assets, included when asset flexibility is desired
5. Cross-Default: Provisions linking defaults under other agreements, included for complex commercial relationships
6. Environmental Compliance: Specific environmental obligations, included for assets with environmental impact
7. Import/Export Compliance: Provisions for international leasing arrangements, included when assets cross borders
8. Service Level Requirements: Specific performance or availability requirements, included for operational leases with service components
1. Schedule 1 - Form of Individual Lease Schedule: Template for individual lease agreements to be executed under the master agreement
2. Schedule 2 - Lease Rates and Payment Terms: Detailed financial terms, calculation methods, and payment structures
3. Schedule 3 - Asset Categories and Specifications: Categories of assets covered and their technical specifications
4. Schedule 4 - Maintenance Requirements: Detailed maintenance obligations and standards for different asset types
5. Schedule 5 - Insurance Requirements: Specific insurance requirements for different asset categories
6. Schedule 6 - Return Conditions: Detailed specifications for the condition of assets upon return
7. Schedule 7 - Service Level Requirements: Detailed service levels and performance metrics if applicable
8. Appendix A - Acceptance Certificate Template: Standard form for confirming delivery and acceptance of leased assets
9. Appendix B - Pricing Calculator: Methodology and formulae for calculating lease payments and adjustments
Authors
Additional Rent
Affiliate
Applicable Law
Asset Schedule
Authorized Representative
Base Rent
Business Day
Casualty Event
Commencement Date
Compliance Certificate
Conditions Precedent
Default Interest Rate
Default Notice
Early Termination
Environmental Laws
Event of Default
Fair Market Value
Financial Statements
Force Majeure Event
Guarantee
Individual Lease
Individual Lease Schedule
Initial Term
Insurance Requirements
Lease Payment Date
Lease Payments
Lease Rate
Lease Term
Leased Asset
Lessee Obligations
Lessor's Rights
Maintenance Requirements
Material Adverse Change
Operating Costs
Option to Purchase
Order Confirmation
Parent Company
Permitted Use
Purchase Option Price
Quiet Enjoyment
Renewal Term
Rent
Return Conditions
Return Date
Return Location
Security Deposit
Service Level Requirements
Supplier
Tax
Term
Terminal Rental Adjustment
Total Loss
Transaction Documents
Transfer
VAT
Definitions
Individual Lease Process
Conditions Precedent
Delivery and Acceptance
Title and Ownership
Lease Payments
Payment Terms
Security Deposit
Use of Assets
Maintenance
Insurance
Risk Allocation
Representations and Warranties
Covenants
Events of Default
Remedies
Indemnification
Asset Return
Purchase Option
Assignment and Transfer
Confidentiality
Data Protection
Force Majeure
Notices
Amendment
Waiver
Severability
Entire Agreement
Term and Termination
Governing Law
Dispute Resolution
VAT and Taxes
Environmental Compliance
Health and Safety
Record Keeping
Reporting Requirements
Sub-leasing
Asset Substitution
Quiet Enjoyment
Further Assurance
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