DëDA
Last Updated: March 15, 2018

EQUIPMENT LEASE AGREEMENT

This Leasing Agreement ("Agreement") is made as of _____________________, 2018 (the "Effective Date") between DëDA Plymouth, MA, 02360, (“Lessor”), and, ______________________________________________________________________________ (“Lessee”).

RECITALS

WHEREAS, Lessee wishes to have Lessor provide its Employee Time Tracking System to Lessee pursuant to the terms of this Agreement. WHEREAS, Lessor has agreed to provide Lessee its Employee Time Tracking System pursuant to the terms of this Agreement.

AGREEMET

Lessor and Lessee agree as follows:

1. DEFINITIONS

“Equipment” is Lessor’s Employee Time Tracking System.
“Services” means the services provided to Lessee by Lessor under this Agreement that include access to and use of the Equipment and other services listed in this Agreement.
“Authorized Users” means Lessee’s employees, agents, consultants, outsourcing companies, contractors and others who are authorized by Lessee to access and use the Equipment in the performance of their duties for Lessee.

2. SERVICES

2.1 Services to be Provided. Lessor shall provide Lessee use of the Equipment and further allowing Lessee’s Authorized Users to access and utilize the Equipment. Lessor shall provide Lessee technical support associated with using and troubleshooting the Equipment.

2.2 Authorized Users; Authorized Uses. Unless otherwise limited Lessor grants Lessee a renewable, nonexclusive, and worldwide right for any Lessee employee, contractor, or agent, or any other individual or entity authorized by Lessee (each, an “Authorized User”) to access and use the Equipment. Lessee shall only use the Equipment in a careful and proper manner and will comply with all laws, rules, ordinances, statutes and orders regarding the use, maintenance of storage of the Equipment.

2.3 Condition of Equipment and Repair. Lessee or Lessee’s agent has inspected the Equipment and acknowledges that the Equipment is in good and acceptable condition.

2.4 Maintenance, Damage and Loss. Lessee will, at Lessee's sole expense, keep and maintain the Equipment clean and in good working order and repair during the Lease Term. In the event the Equipment is lost or damaged beyond repair, Lessee shall pay to Lessor the full replacement cost of the Equipment within thirty (30) days of Lessor’s determination that the Equipment is lost or damaged beyond repair; in addition, the obligations of this Agreement shall continue in full force and effect through the Lease Term.

2.5 Acknowledgement of Lease. The parties acknowledge and agree that this Agreement constitutes a lease to the Equipment form to Lessee by Lessor.

2.6 Delivery. Lessee shall be responsible for all expenses and costs for the shipping/delivery of the Equipment to Lessee’s premises and shipping/delivery of the Equipment back to Lessor’s premises.

3. ACCOUNT AND PAYMENT

3.1 Equipment Account. To obtain the Equipotent Lessee must set up an account (“Lessee Account”) with Lessor. Lessee Account can be set up at: www.deda.work.
Lessee will be required to provide contact information, which includes name and billing address, and a credit card or debit card when setting up the Lessee Account. Only Visa, MasterCard, American Express, or Discover credit and debit cards are accepted.

3.2 Payment. First payment will be taken at the time of Lessee setting up its Lessee Account. Lessee agrees to pay to Lessor as rent for the Equipment the amount of $X every 30 days following the initial purchasing date. Payment will be charged to the credit or debit card stored into the Lessee Account every thirty (30) days.

3.3 Shipping. Once Lessee has created its Lessee Account and submitted the first payment the Equipment will be shipped to the address Lessee provided in its Lessee Account for shipping.

3.4 Insurance. Obtaining insurance for the equipment is optional. If Lessee elects to purchase insurance from the Lessor an insurance fee of $2.99 will be added to each monthly payment.

3.4 Late Charges. If Lessee’s payment method is declined Lessee agrees to pay a fee of $5.00 in addition to the lease payment. If an updated payment method and lease payment is not provided with five (5) days of Lessee’s payment method being decline Lessee will be considered to be in breach of this Agreement and Lessor can terminate this Agreement. Once in breach of the Agreement Lessee will be required to pay Lessor liquidated damages in the sum of $672.00.

4. LEASE TERM

4.1 Term. The lease will start on the date of the delivery of the Equipment. This Agreement is legally binding as of the date of delivery of the Equipment and shall continue until terminated as provided for herein.

4.2 Renewal. Lease will automatically renew every thirty days until Lessee or Lessor cancels the lease. Lessee must provide ten (10) days’ notice to Lessor that lease is being terminated. Lessor may terminate the lease for any reason with no fewer than five (5) days’ notice.

4.2 Termination for Cause. If either party materially breaches any of its duties or obligations hereunder and such breach is not cured, or the breaching party is not diligently pursuing a cure to the non-breaching party’s sole satisfaction, within five (5) calendar days after notice of the breach, the non-breaching party may terminate this Agreement for cause. If Lessee shall become insolvent, cease to do business as a going concern or if a petition has been filed by or against Lessee under the Bankruptcy Act or similar federal or state statute, Lessor may immediately declare Lessee in default of this Agreement. In the event of default, Lessor may, as permitted by law, re-take possession of the Equipment.

4.3 Payments upon Termination. Upon the termination of this Agreement Lessee shall pay to Lessor all undisputed amounts due and payable hereunder within ten (10) days. Failure to pay within ten (10) will result in a 18% interest being applied to the balance.

4.4 Return of Equipment. Upon the termination of this Agreement Lessee shall, within five (5) business day following the termination, return the Equipment to Lessor by delivering the Equipment to Lessor or Lessor’s agent in good condition and working order, ordinary wear and tear excepted, as it was at the commencement of the Agreement. Lessee may be subject to additional costs that are associated with repairing or brining the Equipment to good and working condition. Lessee must pay these costs within thirty (30) days and failure to do so will result in a 18% interest being applied to the balance. If Lessee fails to return the Equipment at termination of the lease Lessee will be charged the full replacement costs of the Equipment. This Section shall survive the termination of this Agreement.

5. PROPRIETARY RIGHTS

5.1 Rights in Equipment. Lessee recognizes that Lessor regards the Equipment and its components, including but not limited to the Equipment’s hardware and software as its proprietary information and as confidential trade secrets of great value. Lessee agrees not to provide or to otherwise make available in any form the Equipment, or any portion thereof, to any person other than employees of Lessee without the prior written consent of Lessor. Lessee further agrees to treat the Equipment with at least the same degree of care with which Lessee treats its own confidential information and in no event with less care than is reasonably required to protect the confidentiality of the Equipment.

5.2 No Ownership. Nothing in this Agreement shall be construed to grant to either party any ownership or other interest, in Equipment, except as may be provided under a lease specifically applicable to use of the Equipment. The Equipment is and shall remain the exclusive property of Lessor.

6. ENCUMBRANCES, TAXES AND OTHER LAWS

6.1 Lessee shall keep the Equipment free and clear of any liens or other encumbrances and shall not permit any act where Lessor’s title or rights may be negatively affected. Lessee shall be responsible for complying with and conforming to all laws and regulations relating to the possession, use or maintenance of the Equipment. Furthermore, Lessee shall promptly pay all taxes, fees, licenses and governmental charges, together with any penalties or interest thereon, relating to the possession, use or maintenance of the Equipment.

7. REPRESENTATIONS AND WARRENTYS:

7.1 Lessors Representations. Lessor represents and warrants that it has the right to lease the Equipment as provided in this Agreement and that Lessee shall be entitled to quietly hold and possess the Equipment, and Lessor will not interfere with that right as long as Lessee pays the Rent in a timely manner and performs all other obligations under this Agreement.

8. SEVERABILITY

8.1 In the event any provision of this Agreement is determined to be invalid or unenforceable, the remainder of this Agreement shall remain in force as if such provision were not a part.

9 GOVERNING LAW/FORUM

9.1 This Agreement shall be governed and interpreted by the laws of the Commonwealth of Massachusetts. Suffolk County, Massachusetts shall be the appropriate venue and jurisdiction for the resolution of any disputes hereunder. Both parties hereby consent to such personal and exclusive jurisdiction.

10. ASSIGNMENT

10.1 Neither this Agreement nor Lessee’s rights hereunder are assignable except with Lessor’s prior, written consent.

11. ENTIRE AGREEMENT

11.1 This Agreement constitute the entire agreement between the parties and supersede any and all previous representations, understandings, or agreements between Lessor and Lessee as to the subject matter hereof. This Agreement may only be amended by an instrument in writing signed by the parties. This Agreement shall be construed without regard to the party that drafted it. Any ambiguity shall not be interpreted against either party and shall, instead, be resolved in accordance with other applicable rules concerning the interpretation of contracts.

12. BINDING EFFECT

12.1 The covenants and conditions contained in the Agreement shall apply to and bind the Parties and the heirs, legal representatives, successors and permitted assigns of the Parties.

13. NOTICE

13.1 Any notice required or otherwise given pursuant to this Agreement shall be in writing and mailed certified return receipt requested, postage prepaid, or delivered by overnight delivery service to:
DëDA Inc of Plymouth, MA, 02360

Lessee:
X

Either party may change such addresses from time to time by providing notice as set forth above.

14. CUMULATIVE RIGHTS

14.1 Lessor’s and Lessee’s rights under this Agreement are cumulative, and shall not be construed as exclusive of each other unless otherwise required by law.

15. WAIVER

15.1 The failure of either party to enforce any provisions of this Agreement shall not be deemed a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement. The acceptance of rent by Lessor does not waive Lessor’s right to enforce any provisions of this Agreement.

16. INDEMNIFICATION

16.1 Except for damages, claims or losses due to Lessor’s acts or negligence, Lessee, to the extent permitted by law, will indemnify and hold Lessor and Lessor’s property, free and harmless from any liability for losses, claims, injury to or death of any person, including Lessee, or for damage to property arising from Lessee using and possessing the Equipment or from the acts or omissions of any person or persons, including Lessee, using or possessing the Equipment with Lessee’s express or implied consent.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed the day and year first above written.

LESSOR:

DëDA
Plymouth, MA - 02360

LESSEE:

___________________________________________________


___________________________________ ___________________________________

Equipment Lease Agreement

Contact Us

You can contact us about this privacy statement by writing or email us at the address below:

DëDA
Plymouth, MA - 02360
United States
e-mail: info@deda.work
Phone: +1(508)746-8713