NO WARRANTY. The Lessor makes no warranties, express or implied, as to the equipment leased. The Lessee assumes responsibility for the condition of the Equipment. RISK OF LOSS OR DAMAGE. The Lessee assumes all risk of loss or damage to the Equipment from any cause and agrees to return it to the Lessor in the condition received, with the exception of wear and tear, unless otherwise provided in this Agreement.
a Damaged or Lost Equipment. Unless otherwise provided in this Agreement, if the equipment is damaged or lost, the Lessor shall have the option of requiring the lessee to either repair the Equipment to a state of good working order or to replace the Equipment with like-equipment and in equal condition. The final decision for approval of any lost or damaged Equipment will be ultimately up to the Lessor.
TAXES AND FEES. During the Lease Term, the Lessee shall be responsible and be required to pay any applicable taxes, assessments, license, registration, or any other fees associated with the handling and operation of the Equipment. DEFAULT. The occurrence of any of the following shall constitute a default under this Agreement:
a Failure of Payment. The failure of the Lessee to make a required payment under this Agreement.
b Violation of Agreement. The violation of any provision of this Agreement that is not corrected within five (5) business days after written notice has been received.
c Bankruptcy. The insolvency or bankruptcy of the Lessee; and
d Seizure. The subjection of any of the Lessee's property to any levy, seizure, assignment, application, or sale for or by any creditor or government agency.
RIGHTS UNDER DEFAULT. If the Lessee shall default under this Agreement, and without notice to ordemand on the Lessee, the Lessor may take possession of the Equipment as provided by law with the right to deduct the costs of recovery, including any attorney's fees and legal costs, in addition to any repair or other costs to obtain the Equipment and bring to the same condition as the Lessee received upon initial delivery. ASSIGNMENT. The Lessee is strictly prohibited from assigning or subletting the Equipment in any manner unless written consent is given by the Lessor. In addition, the Equipment may not be used by any person or associate other than the Lessee and their agents, employees, and subcontractors. SEVERABILITY. If any portion of this Agreement shall be held invalid or unenforceable for any reason, the remaining provisions shall constitute to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision, that it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited. GOVERNING LAW. This Agreement shall be construed and governed in accordance with the laws located in the State where the Equipment is being rented. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between the Parties. No modification or amendment of this Agreement shall be effective unless in writing and signed by both Parties. This Agreement replaces any and all prior agreements made between the Parties.