EQUIPMENT LEASE AGREEMENT

 

PARTIES

 

This EQUIPMENT LEASE AGREEMENT (“Agreement”) is entered upon internet installation at the client (“Lessee”) premises by a representative from LINQQS NETWORKS (“Lessor”), and

 

The Lessor and Lessee, hereinafter individually referred to as “Party” and collectively as the “Parties,” hereby agree to the terms and conditions as follows:

 

 

 

LEASE EQUIPMENT

 

These are tangible assets or resources that are legally possessed and controlled by the Lessor for its business operations. This ownership implies the right to use, transfer, and derive benefits from the equipment while being responsible for its maintenance, liabilities, and adherence to relevant regulations. Ownership typically involves holding legal title or rights to the equipment, establishing the company’s exclusive control and authority over its use and disposal.

 

 

TERMS AND CONDITIONS

 

MAINTENANCE

 

For the period of the rental term, the Lessee shall, at their own expense, provide for the service, repair, and maintenance of the Equipment. The Lessee must also replace all parts which have become damaged, destroyed, or lost for any reason. All replaced parts shall be free from all encumbrances and shall become the Lessor’s property upon return of the Equipment.

 

 

USE OF THE EQUIPMENT

 

The Lessee shall exercise due diligence in its use and maintenance of the Equipment. The Lessee is prohibited from subleasing to any third party the equipment leased by the Lessor. Any modification to the Equipment by the Lessee shall first be approved by the Lessor through a written notice.

The equipment is ONLY for the service provided by the Lessor.

 

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TERMINATION

 

This Agreement shall be terminated if:

1. The Lessee ceases to renew the monthly service subscription with no commitment. (In regards, the Lessee is limited to default two months a year but not consecutively).

      OR

  2. Mutual agreement by both parties to end the service.

Upon this realization the equipment is reinstated to the Lessor or an equivalent of the compensation is owed by the Lessee.

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All mentioned is not limited to terminating this agreement by the Lessor in case of an event that compromise the integrity of the Lessor as the Lessor sees fit.

 

 

OWNERSHIP

 

Regardless of the operation of this Agreement, full ownership of the leased Equipment shall be vested in the Lessor.