Hardware Rental Agreement
Hardware Rental Agreement
By executing an Order referencing this Adszy Hardware Agreement, by renewing an existing Order, by subscribing to In-App Subscriptions or by otherwise using the Services provided by Adszy LLC, Merchant agrees to be legally bound by the terms of this Agreement.
EQUIPMENT SUBJECT TO RENTAL AGREEMENT. The Renter shall rent the equipment listed on the attached Exhibit “A”.
PAYMENT TERMS. The Rentee shall make payments of $20.00 per month per device. Payments shall be due monthly in recurring installments, with the first payment due upon execution of this agreement. The rental agreement payments shall be due whether or not the Rentee has received notice of a payment due.
SERVICE CHARGE. If any Rental agreement installment is not paid within 7 day(s) after the due date, the Rentee shall pay to the Renter a service charge of 5.00
RENTAL AGREEMENT TERM. This Rental agreement will begin upon execution of the agreement. The Rentee can terminate this agreement by providing the Renter written notice to terminate the agreement and return all hardware associated with this agreement.
CARE AND OPERATION OF EQUIPMENT. The equipment may only be used and operated in a careful and proper manner. Its use must comply with all laws, ordinances, and regulations relating to the possession, use, or maintenance of the equipment, including registration and/or licensing requirements, if any.
MAINTENANCE AND REPAIR. The Rentee shall maintain, at the Rentee’s cost, the equipment in good repair and operating condition, allowing for reasonable wear and tear. Such costs shall include labor, material, parts, and similar items.
RETURN OF EQUIPMENT. At the end of the Rental agreement term, the Rentee shall be obligated to return the equipment to the Renter at the Rentee’s expense. The equipment must be returned in good condition and working order. If equipment is not returned within 14 days, ADSZY LLC shall have the right to impose a punitive fee of $499 to help recover losses from broken or stolen equipment. Both parties agree to act in good faith.
ACCEPTANCE OF EQUIPMENT. The Rentee shall inspect each item of equipment delivered pursuant to this Rental agreement. The Rentee shall immediately notify the Renter of any discrepancies between such item of equipment and the description of the equipment in the Equipment Schedule. If the Rentee fails to provide such notice in writing within 30 day(s) after the delivery of the equipment, the Rentee will be conclusively presumed to have accepted the equipment as specified in the Equipment Schedule.
OWNERSHIP AND STATUS OF EQUIPMENT. The equipment will be deemed to be property of ADSZY LLC for the duration of this agreement.
WARRANTY. The Renter warrants that the above property is in good working condition and all hardware will be subject to a 1-year manufacturer’s warranty.
RISK OF LOSS OR DAMAGE. The Rentee assumes all risks of loss or damage to the equipment from any cause, and agrees to return it to the Renter in the condition received from the Renter, with the exception of normal wear and tear, unless otherwise provided in this Rental agreement.
INDEMNITY OF RENTER FOR LOSS OR DAMAGES. Unless otherwise provided in this Rental agreement, if the equipment is damaged or lost, the Renter shall have the option of requiring the Rentee to repair the equipment to a state of good working order, or replace the equipment with like equipment in good repair, which equipment shall become the property of the Renter and subject to this Rental agreement.
CASUALTY INSURANCE. The Rentee shall insure the equipment in an amount sufficient to cover the replacement cost of the equipment.
DEFAULT. The occurrence of any of the following shall constitute a default under this Rental agreement:
- The failure to make a required payment under this Rental agreement when due.
- The violation of any other provision or requirement that is not corrected within 14 day(s) after written notice of the violation is given.
- The insolvency or bankruptcy of the Rentee.
- The subjection of any of Rentee’s property to any levy, seizure, assignment, application or sale for or by any creditor or government agency.
RIGHTS ON DEFAULT. In addition to any other rights afforded the Renter by law, if the Rentee is in default under this Rental agreement, without notice to or demand on the Rentee, the Renter may take possession of the equipment as provided by law, deduct the costs of recovery (including attorney fees and legal costs), repair, and related costs, and hold the Rentee responsible for any deficiency. The rights and remedies of the Renter provided by law and this Agreement shall be cumulative in nature. The Renter shall be obligated to re-rental agreement the equipment, or otherwise mitigate the damages from the default, only as required by law.
NOTICE. All notices required or permitted under this Rental agreement shall be deemed delivered when delivered in person or by mail, postage prepaid, addressed to the appropriate party at the address shown for that party at the beginning of this Rental agreement.
ASSIGNMENT. The Rentee shall not assign or sublet any interest in this Rental agreement or the equipment or permit the equipment to be used by anyone other than the Rentee or Rentee’s employees, without Renter’s prior written consent.
ENTIRE AGREEMENT AND MODIFICATION. This Rental agreement constitutes the entire agreement between the parties. No modification or amendment of this Rental agreement shall be effective unless in writing and signed by both parties. This Rental agreement replaces any and all prior agreements between the parties.
GOVERNING LAW. This Rental agreement shall be construed in accordance with the laws of the State of Missouri.
SEVERABILITY. If any portion of this Rental agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Rental agreement is invalid or unenforceable, but that by limiting such provision, it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
WAIVER. The failure of either party to enforce any provision of this Rental agreement shall not be construed as a waiver or limitation of that party’s right to subsequently enforce and compel strict compliance with every provision of this Rental agreement.