Equipment Rate Clause Samples
Equipment Rate. All equipment leased pursuant to this Contract with State Agencies as described in Section 1 will be leased for a 48-month period to be billed monthly. Exceptions to the lease period require the approval of the IDOA contract manager. The monthly rates for leased equipment are outlined in Exhibit A. Under certain circumstances leased equipment will be available for purchase by the State with the mutual consent of the parties. Equipment provided under this agreement shall not be delivered unless a Data Overwrite Security Systems (▇▇▇▇) kit is installed if applicable to the model leased or purchased. The Purchaser shall receive documentation upon delivery stating that the ▇▇▇▇ kit was installed. Other Governmental Entities, as described in Section 1 will have the ability to execute individual purchase or lease (FMV or Municipal) agreements for any term that fits their purchasing requirements.
Equipment Rate. All equipment leased pursuant to this Contract with State Agencies as described in Section 1 will be leased for a 48- month period to be billed monthly. Exceptions to the lease period require the approval of the IDOA contract manager. The monthly rates for leased equipment are outlined in Exhibit A. Under certain circumstances leased equipment will be available for purchase by the State with the mutual consent of the parties. Equipment provided under this agreement shall not be delivered unless a Data Overwrite Security Systems (▇▇▇▇) kit is installed if applicable t o the model leased or purchased. The Purchaser shall receive documentation upon delivery stating that the ▇▇▇▇ kit was installed. Other Governmental Entities, as described in Section 1 will have the ability to execute individual purchase or lease (FMV or Municipal) agreements for any term that fits their purchasing requirements. Renewal of Leases and Lease Termination: After the minimum term of any Equipment Lease or Purchase Order, such Equipment Lease or Purchase Order will continue on a month-to-month basis at the current monthly rental rate, until a new leased machine is placed at this location and the Ordering Agency enters into a new lease or has provided 30 days prior written notice indicating a lease end date without replacement. (lease termination).