Form Overview
The Master Equipment Lease establishes a framework for concluding multiple equipment leases between two parties on parallel terms. The standard terms include the agreement to lease, the term of each schedule and an obligation to pay rent. Tax benefits of ownership accrue to lessor. Lessor disclaims responsibility for warranties. Lessee is responsible for equipment use, maintenance and insurance. Lessee identifies and selects the equipment, which lessor purchases and leases to lessee. Each equipment transaction is defined pursuant to an equipment schedule (included) which sets forth the equipment rental term, lease payment, stipulated loss value, insurance amount, supplier/vendor and representations and warranties specific to the transaction. You can find answers to your questions using our extensive library of
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