Common use of CONTRACT OF LEASE Clause in Contracts

CONTRACT OF LEASE. 1.1 The Hirer hereby rents to User, which hires on the terms and conditions herein and overleaf from the Commencement date specified in the schedule/s, the goods described therein for the rental payable for the Rental period stated therein, subject to the provisions of 3. 1. The terms and conditions of this agreement shall equally apply in every respect to each and every schedule which the parties may enter into and the goods described in any such schedule and rented in accordance with the terms of this agreement as if the terms and conditions of this agreement were incorporated in such schedule and the conclusion by the parties of a further schedule shall create a separate agreement in respect of the goods described in such schedule. The User agrees that should any separate agreement created in terms hereof be terminated by the Hirer in terms hereof or by effluxion of time or from any cause howsoever arising, such termination shall not affect the obligations of the User to the Hirer in respect of any other separate agreement created in terms hereof and shall remain in force in respect of any other separate agreement created hereby. 1.2 If, at the time of the signing of this contract, such equipment will constitute the Goods, being the subject matter of this contract. If the Goods are to be delivered after the signing hereof, the Hirer shall be entitled to select the specific equipment (conforming to the description of the Goods as specified in the Definition Schedule) out of its stock and deliver same to the User, thereby identifying the equipment that will constitute the Goods. 1.3 If, for any reason whatsoever after the delivery of the Goods, the parties agree to substitute the Goods with another item, such substituted goods will, from the date of delivery thereof, constitute the Goods. The non-variation provisions of clause 20 hereof will not apply to the conclusion of such oral agreement but will only be deemed to have been entered into when the substituted Goods are in fact delivered to the User and this contract will thereafter be deemed to have been amended only in respect of the subject matter of this contract.

CONTRACT OF LEASE. 1.1 The Hirer hereby rents to User, which hires on the terms and conditions herein and overleaf from the Commencement date specified in the schedule/s, the goods described therein for the rental payable for the Rental period stated therein, subject to the provisions of 3. 1. The terms and conditions of this agreement shall equally apply in every respect to each and every schedule which the parties may enter into and the goods described in any such schedule and rented in accordance with the terms of this agreement as if the terms and conditions of this agreement were incorporated incor porated in such schedule and the conclusion by the parties of a further schedule shall create a separate agreement in respect of the goods described in such schedule. The User agrees that should any separate agreement created in terms hereof be terminated by the Hirer in terms hereof here of or by effluxion of time or of from any cause howsoever arising, such termination shall not affect the obligations of the User to the Hirer in respect of any other separate agreement created in terms hereof and shall remain in force in respect of any other separate agreement created hereby. 1.2 If, at the time of the signing of this contract, such equipment will constitute the Goods, being the subject matter of this contract. If the Goods are to be delivered after the signing hereof, the Hirer shall be entitled to select the specific equipment (conforming to the description of the Goods as specified in the Definition Schedule) out of its stock and deliver same to the User, thereby identifying the equipment that will constitute the Goods. 1.3 If, for any reason whatsoever after the delivery of the Goods, the parties agree to substitute the Goods with another item, such s uch substituted goods will, from the date of delivery thereof, constitute the Goods. The non-variation provisions of clause 20 hereof will not apply to the conclusion of such oral agreement but will only be deemed to have been entered into when the substituted Goods are in fact delivered to the User and this contract will thereafter be deemed to have been amended only in respect of the subject matter of this contract.