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The Equipment Lease Agreement is a crucial document used when a business or individual wishes to obtain the use of equipment without purchasing it outright. This agreement, governed by Irish law, provides a structured framework for equipment leasing arrangements, detailing the responsibilities of both lessor and lessee. It is particularly relevant in situations where capital preservation is important, or when equipment is needed for a specific project or timeframe. The document addresses essential aspects including equipment specifications, payment terms, maintenance obligations, insurance requirements, and return conditions. It ensures compliance with Irish leasing regulations and contract law while protecting both parties' interests throughout the lease term. The agreement is adaptable to various equipment types and industry needs, making it a versatile tool for business operations.

1. Parties: Identification of lessor and lessee with full legal names and addresses

2. Background: Context of the lease arrangement and brief description of the business relationship

3. Definitions: Definitions of key terms used throughout the agreement

4. Equipment Description: General description of the equipment being leased (detailed specifications in Schedule)

5. Term and Delivery: Duration of the lease, commencement date, delivery arrangements, and acceptance procedures

6. Rent and Payment Terms: Rental amount, payment schedule, security deposit, and late payment consequences

7. Title and Risk: Confirmation that title remains with lessor and allocation of risk for equipment

8. Lessee's Obligations: Core responsibilities including proper use, care, and return of equipment

9. Insurance Requirements: Mandatory insurance coverage for equipment and liability

10. Representations and Warranties: Basic warranties regarding equipment condition and parties' authority

11. Default and Remedies: Events of default and lessor's remedies

12. Return of Equipment: Conditions and procedures for equipment return at lease end

13. Assignment and Subletting: Restrictions on transfer of rights or sublease of equipment

14. Governing Law and Jurisdiction: Specification of Irish law and jurisdiction

15. General Provisions: Standard boilerplate clauses including notices, amendments, and severability