The Equipment Finance Agreement is a specialized financing instrument used when businesses need to acquire expensive equipment or machinery without making an immediate full payment. This document, governed by German law, combines elements of both financing and equipment purchase/lease arrangements, structured to comply with German civil law (BGB), banking regulations (KWG), and commercial code (HGB) requirements. It is particularly useful for companies seeking to preserve working capital while acquiring necessary equipment, and includes comprehensive provisions for security interests, maintenance obligations, and risk allocation. The agreement typically details payment schedules, interest calculations, equipment specifications, and conditions for transfer of ownership, while incorporating specific German law requirements regarding security interests and consumer protection where applicable.
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1. Parties: Identification of the financer, borrower/lessee, and their legal details
2. Background: Context of the financing arrangement and equipment acquisition
3. Definitions: Key terms used throughout the agreement, including financial and technical terms
4. Equipment Details: Specific description and identification of the financed equipment
5. Finance Terms: Amount financed, interest rate, payment terms, and duration of financing
6. Payment Obligations: Details of payment schedule, method, and consequences of default
7. Equipment Delivery and Acceptance: Conditions for delivery, inspection, and acceptance of equipment
8. Title and Security Interest: Ownership rights, security interests, and registration requirements
9. Use and Maintenance: Requirements for equipment operation, maintenance, and permitted uses
10. Insurance Requirements: Mandatory insurance coverage for equipment and related risks
11. Default and Remedies: Events of default and available remedies for both parties
12. Representations and Warranties: Standard declarations about legal capacity and equipment condition
13. Termination: Conditions and procedures for early termination or contract completion
14. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
1. Guarantees: Required when there is a third-party guarantor for the financing obligations
2. Special Usage Conditions: Added when equipment has specific operational requirements or restrictions
3. Export/Import Requirements: Included when equipment crosses international borders
4. Environmental Compliance: Required for equipment with environmental impact or regulations
5. Software Licenses: Included when equipment includes software components
6. Service Level Requirements: Added when equipment maintenance services are included
7. Assignment and Subletting: Included when transfer or subletting rights are relevant
8. Tax Considerations: Required when special tax treatments or obligations apply
1. Equipment Specification Schedule: Detailed technical specifications and equipment identification
2. Payment Schedule: Detailed breakdown of payment amounts and due dates
3. Insurance Requirements Schedule: Specific insurance coverage requirements and terms
4. Maintenance Schedule: Required maintenance procedures and intervals
5. Delivery and Acceptance Protocol: Forms and procedures for equipment acceptance
6. Financial Calculations: Interest rate calculations and adjustment mechanisms
7. Security Registration Forms: Templates for security interest registration
8. Return Conditions: Equipment condition requirements upon contract termination
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Construction
Agriculture
Healthcare
Transportation & Logistics
Mining
Industrial Production
Renewable Energy
Technology & Telecommunications
Automotive
Aerospace
Medical Equipment
Heavy Industry
Relevant Teams
Legal
Finance
Operations
Procurement
Treasury
Risk Management
Compliance
Technical Operations
Asset Management
Credit
Relevant Roles
Chief Financial Officer
Finance Director
Treasury Manager
Equipment Manager
Operations Director
Procurement Manager
Legal Counsel
Risk Manager
Asset Manager
Finance Controller
Commercial Director
Credit Manager
Equipment Finance Specialist
Compliance Officer
Technical Director
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