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Equipment Lease Agreement 2 Lessee’s premises and ii) at the end of the Lease Term, of shipping the Equipment back to Lessor’s premises. 7. DEFAULTS: If Lessee fails to perform or fulfill any obligation under this Agreement, Lessee shall be in default of this Agreement.
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Jun 28, 2021 An Equipment Lease Agreement is an agreement where the owner of an equipment permits another to use the equipment in exchange for a periodic lease payment.The owner of the equipment is the lessor, the user of the equipment is the lessee. An equipment that can be leased includes any physical property such as vehicles, machinery and other tangible properties.
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Phoenix Mining Equipment, incorporated in 1985, can trace its beginning back to 1922 with the founding of The Electric Railway Equipment Company.Since then Phoenix has become a leading manufacturer and supplier of overhead electrification hardware for public transit systems, both trolley bus and light rail, and for DC electric haulage systems for underground mines and open pit operations.
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Daily and monthly rental rates stipulated in the List of Equipment contemplate an operating day of a regular single shift of eight (8) hours, and for each hour over such eight (8) hours that the equipment is operated these rates shall be increased six (6) percent of the daily rate throughout such period as the equipment is so operated.
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