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Equipment Finance Agreement
"I need an Equipment Finance Agreement for financing medical imaging equipment worth 鈧2.5 million for our hospital in Vienna, with a 5-year term starting March 2025, including maintenance provisions and potential purchase option at the end of the term."
1. Parties: Identification of the finance provider and the borrower/lessee, including full legal names, registration numbers, and addresses
2. Background: Context of the agreement, including the purpose of the financing and general intent of the parties
3. Definitions: Definitions of key terms used throughout the agreement, including financial terms, equipment-related terminology, and legal concepts
4. Equipment Details: Detailed description of the financed equipment, including specifications, serial numbers, and condition
5. Finance Terms: Core financial terms including amount financed, interest rate, payment schedule, and term of financing
6. Payment Obligations: Details of payment obligations, including payment methods, due dates, and consequences of late payment
7. Security Interest: Creation and terms of security interest in the equipment, including registration requirements
8. Insurance Requirements: Mandatory insurance coverage for the equipment and related obligations
9. Maintenance and Use: Obligations regarding equipment maintenance, permitted use, and operating conditions
10. Representations and Warranties: Standard representations and warranties from both parties
11. Events of Default: Definition of default events and consequences
12. Remedies: Available remedies in case of default or breach
13. Term and Termination: Duration of the agreement and termination provisions
14. General Provisions: Standard boilerplate clauses including notices, amendments, governing law, and jurisdiction
1. Purchase Option: Terms for purchasing the equipment at the end of the finance period - include if purchase option is offered
2. Asset Management: Detailed provisions for managing multiple pieces of equipment - include for complex equipment portfolios
3. VAT and Tax Provisions: Specific tax handling provisions - include when tax implications require detailed treatment
4. Export Controls: Compliance with export control regulations - include for equipment that may be subject to export restrictions
5. Environmental Compliance: Environmental requirements and compliance - include for equipment with environmental impact
6. Software Licenses: Terms regarding software included with equipment - include when equipment includes software components
7. Training and Support: Provisions for equipment training and technical support - include when supplier provides these services
8. Assignment and Subletting: Detailed provisions for transfer rights - include when these rights are specifically negotiated
1. Schedule 1 - Equipment Specification: Detailed technical specifications and identification of the financed equipment
2. Schedule 2 - Payment Schedule: Detailed payment terms including amounts, dates, and calculation of interest
3. Schedule 3 - Delivery and Acceptance: Equipment delivery terms and acceptance criteria
4. Schedule 4 - Insurance Requirements: Specific insurance requirements and minimum coverage levels
5. Schedule 5 - Maintenance Requirements: Detailed maintenance procedures and schedules
6. Appendix A - Form of Purchase Option Notice: Template for exercising purchase option if applicable
7. Appendix B - Condition Report Template: Template for recording equipment condition at delivery and return
8. Appendix C - Security Registration Forms: Required forms for registering security interest in equipment
Authors
Manufacturing
Construction
Agriculture
Transportation and Logistics
Healthcare
Mining and Resources
Industrial Production
Telecommunications
Renewable Energy
Food Processing
Printing and Publishing
Automotive
Aviation
Medical Equipment
Heavy Machinery
Legal
Finance
Treasury
Procurement
Operations
Risk Management
Compliance
Asset Management
Credit
Commercial
Technical Operations
Fleet Management
Chief Financial Officer
Finance Director
Treasury Manager
Equipment Finance Manager
Procurement Manager
Operations Director
Legal Counsel
Risk Manager
Asset Manager
Credit Manager
Commercial Director
Compliance Officer
Financial Controller
Equipment Maintenance Manager
Fleet Manager
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