Common use of Condition of the Equipment Clause in Contracts

Condition of the Equipment. THE BORROWER agrees that it will return the Equipment in the same condition that it was in when it left the College, ordinary wear and tear not excepted. If THE BORROWER needs to repair or replace any equipment during the course of its use, it will do so at its own expense, and will be obligated to return the Equipment to the College at the end of the agreement. If the College determines that the Equipment is not in the same or better condition that it was when it left the College, it may repair or replace any piece or part of the Equipment and THE BORROWER will pay the cost upon receipt of a bone fide invoice.