**EQUIPMENT LEASE AGREEMENT** THIS EQUIPMENT LEASE AGREEMENT (“Agreement”) is made and entered into as of this ____ day of _______, 20____ (the “Effective Date”), by and between ________________, a company incorporated under the laws of Republic of India, having its registered office at _________________ (hereinafter referred to as the “Lessor”), and ________________, a company incorporated under the laws of Republic of India, having its registered office at _________________ (hereinafter referred to as the “Lessee”). **1. DEFINITIONS** 1.1 “Equipment” refers to the items leased as per Schedule A attached herewith. **2. LEASE OF EQUIPMENT** 2.1 The Lessor hereby leases to the Lessee and the Lessee hereby rents from the Lessor the Equipment for the term of this Agreement. **3. TERM AND RENEWAL** 3.1 The initial term of this Agreement shall commence on the Effective Date and continue for a period of ________ unless otherwise terminated in accordance with the provisions of this Agreement. **4. RENTAL PAYMENTS** 4.1 The Lessee shall pay to the Lessor the rental payments as specified in Schedule B attached herewith. **5. DELIVERY AND RETURN OF EQUIPMENT** 5.1 The Lessee shall be responsible for collecting and returning the Equipment to the Lessor. **6. REPAIR AND MAINTENANCE** 6.1 The Lessee shall keep the Equipment in good condition, ordinary wear and tear excepted. **7. INSURANCE** 7.1 The Lessee shall maintain comprehensive insurance coverage for the Equipment at its own expense. **8. INDEMNIFICATION** 8.1 The Lessee shall indemnify and hold the Lessor harmless against any loss, damage, claim, cost, and expense arising out of the Lessee’s use, possession, or operation of the Equipment. **9. DEFAULT AND REMEDIES** 9.1 In the event of default by the Lessee, the Lessor may exercise any or all remedies available to it under applicable law. **10. ASSIGNMENT AND SUBLETTING** 10.1 The Lessee shall not assign this Agreement or sublet the Equipment without the prior written consent of the Lessor. **11. TITLE TO EQUIPMENT** 11.1 The Lessor retains title to the Equipment at all times. The Lessee acquires no right, title, or interest in the Equipment except as expressly provided in this Agreement. **12. CONFIDENTIALITY** 12.1 Both parties agree to maintain the confidentiality of all information received from the other party during the term of this Agreement. **13. DISPUTE RESOLUTION** 13.1 Any dispute arising out of this Agreement shall be settled by arbitration in accordance with the Arbitration and Conciliation Act, 1996. **14. GOVERNING LAW AND JURISDICTION** 14.1 This Agreement shall be governed by and construed in accordance with the laws of the Republic of India. **15. FORCE MAJEURE** 15.1 Neither party shall be liable for any failure or delay in performance due to any cause beyond its reasonable control. **16. ENTIRE AGREEMENT** 16.1 This Agreement represents the entire agreement between the parties and supersedes all prior agreements and understandings, written or oral. **17. AMENDMENT** 17.1 This Agreement may be amended only by a written agreement signed by both parties. **18. NOTICES** 18.1 All notices under this Agreement shall be in writing and shall be delivered by personal delivery, registered mail, or email. **19. WAIVER** 19.1 The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver of such provision or the right to enforce it. **20. SEVERABILITY** 20.1 If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect. **21. TERMINATION** 21.1 This Agreement may be terminated by either party upon written notice to the other, if the other party breaches any material provision of this Agreement. **22. INDEPENDENT CONTRACTOR** 22.1 The Lessee is an independent contractor and nothing in this Agreement shall be construed as creating an employer-employee relationship. **23. NO PARTNERSHIP** 23.1 This Agreement does not create a partnership or joint venture between the parties. **24. BINDING EFFECT** 24.1 This Agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, successors, and assigns. **25. COUNTERPARTS** 25.1 This Agreement may be executed in counterparts, each of which shall be deemed an original. **26. HEADINGS** 26.1 The headings in this Agreement are for convenience only and do not affect the interpretation of this Agreement. **27. WARRANTY** 27.1 The Lessor represents and warrants that it has the right to lease the Equipment as provided in this Agreement. **28. INSPECTION** 28.1 The Lessor shall have the right to inspect the Equipment during Lessee’s normal business hours upon reasonable notice. **29. COMPLIANCE WITH LAWS** 29.1 The Lessee shall comply with all laws and regulations applicable to the use, possession, or operation of the Equipment. **30. ACKNOWLEDGEMENT** 30.1 Each party acknowledges that it has read and understands this Agreement and agrees to be bound by its terms. IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. _______________________ _______________________ Lessor (Legal Name) Lessee (Legal Name) _______________________ _______________________ Signature Signature _______________________ _______________________ Print Name Print Name _______________________ _______________________ Title Title Date: ____/____/______ Date: ____/____/______ **SCHEDULE A – EQUIPMENT** **SCHEDULE B – RENTAL PAYMENTS**