Form Overview
The Equipment Lease-Back Agreement structures an arrangement under which lessor purchases equipment selected by lessee as the original buyer under a purchase contract. The purchase right is assigned to lessor by lessee. Lessor leases the equipment back to lessee at a fixed monthly payment and lease term. The lease term is sixty calendar months and late payments carry late charges. Lessee has the right to renew the lease for an additional twelve months at the end of the lease term. The equipment vendor under the original purchase agreement has responsibility for delivery, installation and taxes. Lessee has responsibility for maintenance, insurance, risk of loss and defense of title. The equipment is defined by list attached as exhibit (not included), which can usually be taken from the original purchase agreement. You can find answers to your questions using our extensive library of
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