Microlease definition

Microlease means Microlease Inc., a company incorporated in North Carolina with company number 210299027, and Test Equipment Asset Management Limited, a company incorporated in England and Wales with company number 05760974;
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Examples of Microlease in a sentence

  • The Equipment is either the property of Microlease or that of a third party financier who has permitted Microlease to enter into a rental agreement for the Equipment with the Customer.

  • The Customer consents to the assignment or transfer of the benefit of this Agreement by Microlease to any third party financier so long as the Customer continues to have the benefit of the use of the Equipment under the terms of this Agreement.

  • Such Advice is given without charge and in good faith and Microlease cannot accept any liability or responsibility for the consequences of any decision based on this Advice.

  • No time or other indulgence allowed by Microlease to the Customer shall prejudice or waive any rights or remedies of Microlease.

  • In this Agreement: "The Customer" means the person or company offering to rent or renting the Equipment; "The Equipment" means equipment, manuals, accessories and other items provided for the Customer’s use by Microlease; "EU" means the countries within the European Union.

  • If any payment is not received 30 days after the due date or if Microlease has reasonable grounds for believing that the Customer may be unable to perform or has breached its obligations or had a receiver, administrative receiver or administrator appointed, the Customer shall be deemed to have repudiated this Agreement and Microlease may terminate the hire and recover the Equipment at the Customer's expense without prior notice and the Customer agrees to make the Equipment available to Microlease.

  • Where the Customer changes collection arrangements, Microlease may make an additional charge.

  • The Customer shall be liable for all costs incurred in recovering overdue debts and interest at a rate equivalent to 4% above the Finance House Base Rate calculated from the date payment was due to the date payment is received by Microlease.

  • The Customer shall be responsible for and shall indemnify Microlease against any loss damage injury or death to persons or property in connection with the hire or the use of the Equipment howsoever arising except for the direct and foreseeable consequences of any willful default or gross negligence by Microlease or its employees.

  • Microlease shall not however be liable for any delay in delivery.