1 Definitions

 

1.1  

‘ Accounting Period’ means each consecutive accounting period as that expression is defined by the Income and Corporation Taxes Act 1988 Section 12 commencing with the Accounting Period in which the Cost Incurred is Incurred by the Lessor and ending with the Accounting period during which the Primary period expires or the hiring is earlier terminated.

1.2

‘Auditors’ means

1.3

‘Cost Incurred’ means the whole of the capital expenditure exclusive of recoverable VAT incurred by the Lessor in the provision of the Goods

1.4

‘Expert’ means an expert who deals in or advises on goods of the same nature as the Goods appointed by the Lessor to carry out the valuations of the Goods contemplated by clauses 4.5 or 8.2 below

1.5

‘Financial Year’ means in accordance with the Income and Corporation Taxes Act 1988 Section834(1) the financial year beginning with April ( year) and similarly with references embodying other dated and where used without a date shall mean any such years as appropriate

1.6 ‘Goods’ shall include each and every component part record log book manual and handbook for them and all replacements renewals or additions to and substitutions for the Goods from time to time made shall form an integral part of them and shall become the property of the Lessor and subject to this agreement

1.7

‘Incurred’ means incurred in accordance with the Capital Allowances Act 2001 Section 5

1.8

‘Insurers’ means the insures of the Goods and third party risks under the policies specified in clause 4.4 below

1.9

‘Lease Term’ is the period referred to as such in the Schedule; or if shorter the period until the Goods through fair wear and tear (but for no other reason) be incapable of use for the purpose for which they were designed or made or until the hiring is terminated under the terms of this agreement

1.10

‘Presumed Value’ means the market value of the Goods on sale by a willing seller to a willing buyer on the assumption that the Goods are maintained strictly in accordance with the terms of this agreement and comply with the Return Conditions and have not sustained a Total Loss

1.11

‘Primary Period’ is as defined in the Schedule

1.12

‘Qualifying Expenditure’ has the meaning attributed to it by the Capital Allowances Act 2001 Section 57

1.13

‘Rentals’ are the rentals calculated in accordance with paragraph (   ) of the Schedule

1.14

‘Return Conditions’ are the conditions specified in the Schedule being those to which the Goods should comply at all times during the lease Term and upon their delivery up to the Lessor at the expiry of the Lease Term or upon earlier determination of this agreement or the hiring under it

1.15

‘Schedule’ means any schedule from time to time made subject to this agreement. This agreement and each Schedule shall form a separate agreement for the lease of such Goods described in such Schedule upon the terms contained in it and this agreement but so that any breach of the provisions of any such agreement shall be deemed to be a breach of all such agreements then in force between the parties

1.16

‘Specified Location’ is the location at which the Lessee agrees to keep the Goods referred to in clause 4.6.1 below and specified in paragraph (  ) of the Schedule.

1.17

‘Total Loss’ means a total loss or constructive or arranged total loss as declared by the Insures or otherwise adjudged

1.18

‘Utilisation Rentals’ are the rentals calculated in accordance with paragraph ( ) of the Schedule

1.19

‘Writing Down Allowance’ has the meaning attributed to it in the Capital Allowances Act 2001 Sections 55 and 56

2 Quiet enjoyment

So long as the Lessee is neither in default in the payment of any sum of money payable nor is in breach of any of the covenants on its part to perform in this agreement it may peaceably hold and enjoy quiet possession of the Goods for the Lease Term

3 Lessee’s covenants

The Lessee (and if the Lessee comprises more than one person jointly and severally) agrees

Payment

To pay punctually and without previous demand deduction counterclaim or set –off to the Lessor at its address given above or to its order the Rentals and the Utilisation Rentals and all other sums due to it from the Lessee to the Lessor at the times specified for the payment in this agreement and that in respect of any sums payable under this agreement time shall be of the essence and that a condition of this agreement is that failure to pay any sums due within 21 days after the due date shall be a repudiation of this agreement

Inspection

To inspect the Goods upon delivery of them to it and to notify the Lessor immediately in writing of any defect in the Goods. If no such notification is given it shall be conclusively presumed that the Goods are complete and in good order and condition and fit for the purpose for which they are required and in every way satisfactory to the Lessee

Use of the Goods

3.3.1

To use the Goods in a skilful and proper manner and in accordance with any operating instructions issued for them and to ensure that the Goods are operated and used by properly skilled and trained personnel

3.3.2

to keep the Goods at all times in good repair condition and working order properly serviced and maintained and in accordance with the Return Conditions and to obtain and fit all such new parts as shall from time to time be required and to enter into and throughout the Lease Term to maintain and comply with the terms of an  agreement the terms of which shall be subject to the prior agreement of the Lessor made with the manufactures or suppliers of the Goods or such other person or such other person of which the Lessor has previously approved in writing for its maintenance in accordance with the said manufacturers’ or suppliers’ standards and to deliver up the Goods from time to time in order that maintenance and servicing may be carried out to the Goods in accordance with the recommendations of the manufacturer or supplier of the Goods and (subject to clause 3.5 below)if any part of the Goods is destroyed damaged or lost to repair and replace them with replacements in such condition so as to comply in all respects with the terms of this agreement

3.3.3

that any agreement between the Lessor and the Lessee under which the Lessor agrees to procure to the Lessee maintenance and servicing facilities in respect of the Goods is without prejudice to and shall have no effect on the Lessee’s obligations under the terms of this agreement to maintain the Goods in accordance with the provisions of this clause 3.3 nor shall any default by the Lessor by the subject of any set-off by the Lessee

3.3.4

to make no alteration to the Goods and not to remove any existing component from the Goods unless it is replaced immediately (or if removed in the ordinary course of repair and maintenance as soon as practicable) by the same component or by one of a like make and model to that removed or an improved or advanced version of it

3.3.5

to provide throughout the Lease Term all computer software programs or any consumable items necessary or desirable for the use and operation of the Goods

3.3.6

to carry out or to procure that there shall be carried out all the Lessor’s obligations relating to the preparation of the Specified Location as defined in this agreement and the installation and acceptance of the Goods contained in the contract under which the Lessor acquires the Goods

3.3.7

to keep of procure to be kept throughout the Lease Term accurate complete and current records of all maintenance carried out to the Goods

3.3.8

to obtain effect and keep effective all permissions licences and permits and to pay all rates taxes and charges which may from time to time be required in connection with the business of the Lessee the Goods and their use the premises where they are from time to time situated or kept this agreement and the purchase ownership delivery leasing possession operation import to or export from any country any return or disposition of the Goods or upon the rentals receipts or earnings arising from them including interest and penalties (other than corporation tax charged on the profits or taxable gains of the Lessor) and to comply with all statutory and other obligations of all kinds in

Insurance

3.4.1

to insure the Goods and keep the Goods insured throughout the Lease Term (in the joint names of the Lessor and the Lessee) for their full replacement value against all risks on a comprehensive policy without restriction or excess

3.4.2

to insure the Lessor and the Lessee (as joint assureds) against all liability to third persons for death personal injury and damage to or loss of property arising directly or indirectly out of the use possession or operation of the Goods and in the event that the Goods comprise motor vehicles all other risks required to be covered by the Road Traffic Act 1991 or any modification or re-enactment of it for such amount as the Lessor may stipulate from time to time or in the absence of such stipulation for such amount as is prudent in all the circumstances  and

3.4.3

to pay punctually all premiums due for such insurance and to produce to the Lessor on request the policy or policies together with evidence of payment of the premiums and agrees that the Lessor may effect the insurance referred to in this clause 3.4 if the Lessee has failed to do so (although it is not under any obligation to do so) and to reimburse the Lessor on demand the cost of so doing

 

Total Loss

3.5.1

to pay to the Lessor upon the expiry of 30 days after a Total Loss (or such later date as the Lessor may agree) an amount equal to the sum of:

3.5.1.1 all arrears of Rental including apportioned Rental for any broken period

3.5.1.2 such amount as the Expert may determine as the amount(if any) by which the Presumed Value on the date of the occurrence of the Total Loss exceeds the sum paid by the Insures to the Lessor under the policy or policies maintained in compliance with clause 3.4.1 above and

3.5.1.3 such sum as is required to compensate the Lessor for the loss or destruction of or damage to the Goods

3.5.2

if on the expiry of the period of thirty days from the date of the Total Loss the Insures have not made payment to the Lessor under the policy or policies maintained in compliance with clause 3.4.1 above the Lessee shall pay to the Lessor upon demand such sum as shall be determined by the Expert to be the Presumed Value in lieu of the amount to be calculated and paid under the terms of clause 3.5.1.2

3.5.3

to pay the costs and expenses of the provision of the opinion of the Experts such costs and expenses (if any) to be added respectively to the amounts payable under clauses 3.5.1.2 or 3.5.2

3.5.4

if the Goods sustain loss or damage not amounting to a Total Loss forthwith to notify the Lessor and to make good such damage and to apply all insurance moneys payable in making good such damage and upon being requested by the Lessor so to do forthwith to assign to the Lessor all the Lessee’s rights benefits and claims under any relevant policy of insurance and

3.5.5

to be solely responsible for and to indemnify the Lessor in respect of all loss of or damage to the Goods (in so far as the Lessor is not reimbursed by the proceeds of insurance in respect thereof) however caused occurring at any time or times before they are redelivered to the Lessor under the terms of clause 3.8 below and

3.6 Dealings with or affecting the Goods

3.6.1

to keep the Goods in its own possession at the Specified Location (or at such other location(s) as the Lessor may agree) and in compliance with any policy of insurance affecting the Goods save in the event that the Goods comprise motor vehicles when the Lessee may use the Goods in the ordinary course of its business to and from the Specified Location provided that the Goods are not removed from Great Britain and neither to sell or offer for sale assign mortgage pledge underlet lend or otherwise deal with the Goods or any interest in them or in this agreement nor allow the creation of any charge or lien over them nor without the previous written consent of the Lessor to attach the Goods to any land or premises so as to cause them to become a permanent or immovable fixture on such land or premises

3.6.2

neither to sell transfer lease or otherwise dispose of nor mortgage charge nor otherwise encumber any land or building on it or in which the Goods are kept nor to agree to do any such thing nor to agree to create any floating charge unless the Lessee has prior to such event obtained waivers satisfactory to the Lessor excluding the Goods from its effect or unless any such act does not effect the Goods in any way and is subject to the right of the Lessor to repossess the Goods at any time (whether or not thy or any part of them have become affixed to such land or building) and for that purpose to enter upon such land or building and sever the Goods affixed to it

3.6.3

to ensure that if the Goods are or become affixed to any land or building they shall be capable of being removed without material injury to such land or building and to take all necessary steps to prevent title to the Goods from passing to the landlord of such land or building and warrants that if the Goods are or may become a fixture as defined by the Capital Allowances Act 2001 Section 173 the circumstances are such that the Goods would by virtue of the Capital Allowances Act 2001 Section 176 have been treated for material purposes as being owned by the Lessee if the Lessee had bought the Goods and incurred capital expenditure in doing so at the commencement of the lease Term and the Lessee is leasing the Goods for the purposes of a qualifying activity carried on by it or for leasing otherwise than in the course of a qualifying activity

3.6.4

to repair and make good any damage caused by the affixation of the Goods to or their removal from any land or building (whether such affixation or removal is effected by the Lessor or the Lessee) and to indemnify the Lessor against all loss damage or liability it may incur or sustain as a result of such affixation or removal and

3.6.5

if the Goods are or may become a fixture as defined by the Capital Allowances Act 2001 Section 173 to sign and deliver to the Lessor on demand an election in such form as the Lessor or the Inland Revenue may prescribe that the Capital Allowance Act 2001 Section 177 shall apply or an election in any other form and under any other authority (statutory or otherwise) in response to which the Inland Revenue will treat the Goods to like effect for material purposes as being owned by the Lessor

3.7    Indemnity

to indemnify the   Lessor against all loss actions claims demands proceedings (whether criminal or civil) costs legal expenses (on a full indemnity basis) insurance premiums and call liabilities judgments damages or other sanctions whenever arising directly or indirectly from the Lessee’s failure or alleged failure to carry out its duties under this agreement or by any reason of any loss injury or damage suffered by any person(including without limitation the Lessor)from the presence of the Goods or the delivery possession hiring or transportation condition use operation removal or return of them or their sale or disposal by the Lessor or any defect in the Goods or the design manufacture testing maintenance or overhaul of them or the Lessor exercising any right in respect of the Goods or their ownership or hiring

3.7 Return of Goods

To deliver up the Goods serviced and maintained and in good repair and working order as provided in clause 3.3 above together with all log books and handbooks in respect thereof and in accordance with the Return Conditions at the expiration of the lease term or upon earlier determination of this agreement or the hiring under it as such address in Great Britain as the Lessor shall notify to the Lessee and to allow it agents or representatives access to any premises where the Goods may be for the purpose of inspecting and removing them and if the Lessor requires to carry out any servicing maintenance repair or other work to the Goods so as to put them in the condition specified in clause 3.3 above and in the Return Conditions or to discharge any of the Lessee’s obligations referred to in that clause to reimburse the cost thereof( together with VAT thereon) to the Lessor forthwith upon demand

3.8 Information relating to the Lessee and the Goods

3.9.1 to keep the Lessor regularly informed of the financial progress of the Lessee’s business and upon the Lessor’s request to supply to the Lessor a copy of every balance sheet and accounts sent by the Lessee to its shareholders and such further information as the Lessor may from time to time require concerning the Lessee’s financial position and the Goods and

3.9.2 to keep the Lessor informed of the condition use and operation of the Goods by providing monthly/quarterly report thereof to the Lessor and such additional information relating to the Goods at the end of each calendar month during the lease Term or otherwise upon demand by the Lessor in order that the Lessor may calculate the additional rents (if any) referred to in paragraph (..) of the Schedule

3.9 Inland Revenue

To furnish promptly to the Inland Revenue such information as may be legally required to be so furnished about the leasing of the Goods or the use to which the same are being or have been put and to furnish to the Lessor promptly upon request such information books records or documentation as the Lessor requests in order to enable the Lessor to respond to such a request of the Lessor from the Inland Revenue

4 Taxation

4.1 The Rentals set out in the Schedule are calculated assuming:

      4.1.1 the rate of corporation tax fixed in the United Kingdom for companies (as opposed to the small companies’ rate) is    …. Or the rate set by statute or regulation from time to time by parliament or the secretary of state for each Financial Year up to and including the Financial year during which the primary period expires or the Hiring is earlier terminated.

4.1.2 the law and practice of the United Kingdom at the date of this agreement relating to taxation of companies and groups of companies will remain the same in all respects affecting this agreement or all matters relating to it including without limitation the hiring of Goods

4.1.3 the whole of the Cost Incurred is incurred on the date of or as set pot in the Schedule and qualifies for Writing Down Allowances and continues so to qualify throughout each Accounting Period occurring during the Primary Period and that in each Accounting period during the Primary Period the rate of Writing Down Allowances applicable is a sum equivalent to 25% of the Qualifying Expenditure and that no Writing Down Allowances are withdrawn and that other than upon the sale of the Goods at the expiry or earlier termination of the hiring under this agreement no balancing charge arises

4.1.4 that the expenditure incurred by the Lessor on those of the Goods amounting to fixtures is not excluded from the expression ‘on the provision of Machinery or Plant’ by virtue of the capital Allowance Act 2001 Sections 21 and 22

4.1.5 that the Lessor is entitled to set off losses for tax purposes arising from this agreement against profits pursuant to the Income and Corporation taxes Act 1988 Section 393A and to surrender by way of group relief to any other member of the Lessor’s group of companies pursuant to the Income and Corporation taxes Act 1998 Sections 402 to 413 (as amended)

4.1.6 that liability for the payment of corporation tax shall be in accordance with the Corporation Tax (Instalment payments) regulations 1998

4.1.7 that the Lessor’s expenditure will not be treated as being expenditure met by contributions in the circumstances set out in the Capital Allowances Act 2001 Section 532

4.1.8 that the accountancy rental earnings in respect of this agreement for any Accounting Period shall not exceed the normal rent for that period as both of those expressions are defined in the Finance Act 1997 Schedule 12 paragraphs 20 and 21

4.1.9 that the Goods are sold on the last day of the Primary period for an amount equal to the Qualifying Expenditure

4.2

if any of the assumptions contained in clause 4.1 above proves not to be or ceases to be correct then in any such event and as many times as any such event shall occur if the result is the aggregate of the rentals set out in the Schedule (or as previously adjusted in accordance with the terms of this agreement) to be paid during the Primary Period would in such case as a whole (and apart from this clause) produce to the Lessor a different net of tax rate of return to the Lessor in the acquisition and leasing of the Goods over the Primary Period upon which the calculation of the rentals was based (including but not limited to the matters contained in clauses 4.1.1 and 4.4.4 above that the hiring continues for the full Primary Period and that all the Rentals set in the Schedule (or as previously adjusted under the terms of

 

clause 4.2 above) to be paid during the Primary Period are paid when due) then the Lessor may and may be required in writing by the Lessee by notice to adjust the Rentals paid or payable during the Primary period by such amounts as may be determined by the Lessor as necessary to maintain the Net rate of Return as if the event(and any such other event which has occurred since the commencement of the Primary Period) has not occurred

4.3 Any adjustment of the Rentals paid of payable during the primary period shall:

4.3.1 be made in a manner consistent with the original calculation of the Rentals taking into account (inter alia) the matters specified in clause 4.1 above and in the Schedule together with such other assumptions and principles used originally to calculate the rentals each of these being adjusted or amended only in so far as it may be necessary to do so consequent upon any of the assumptions in clause 4.1 not being realised.

4.3.2 be made by equal adjustments to each Rental which at the date of the said notice remains to be paid during the Primary Period or by payment of an additional Rental payable upon demand. If an adjustment ids made after the expiry or other termination of the hiring or when no Rental remains to be paid during the Primary Period or by payment of an additional Rental payable upon demand such adjustment shall be payable as a single additional instalment of Rental by the Lessee or rebate of Rental by the Lessor whichever the case may be with 14 days after the Lessor’s said notice

4.3.3 ignore any capital allowances or any relief under a system replacing the system of capital allowances which in any Accounting Period either alone or in aggregate exceeds the relief to which it is assumed in clause 4.1.3 above the Lessor is entitled to any disposal value under the Capital Allowances Act 2001 Section 61 or any relief which is received by the Lessor upon or as a consequence of the sale or other disposal by the Lessor of the Goods

3 Conditions warranties and exclusion

5.1 The Lessor agrees that provided that the Lessee is not in default hereunder it will upon request assign to the Lessee (so far as the same are capable of being assigned) the benefit of all expressed warranties granted in favour of the Lessor by the supplier of the Goods or the manufacturer of them or any third party provided that the Lessee shall first fully indemnify the Lessor to the satisfaction of the Lessor against all cost claims damages and expenses incurred or to be incurred in connection with the enforcement thereof or the making of any claim hereunder and provided that upon the expiration of the lease Term or upon earlier termination of the hiring hereunder the Lessee agrees to re-assign such warranties to the Lessor and for that purpose hereby irrevocably appoints the Lessor as its attorney and in its name to execute in favour of the Lessor any such assignment in such form as may then be necessary to give effect to this clause

5.2 The Goods are selected by the Lessee and acquired by the Lessor at the request of the Lessee solely for the purpose of hiring the Goods to the Lessee and save as above the Lessee does not let or supply the Goods with any representation concerning the condition performance suitability or qualities of the Goods or with or subject to any term condition or warranty express or to be implied by statute description at common law or otherwise and all such representations terms conditions warranties whether relating to the capacity age quality description condition leasing possession transportation or use of the Goods or to the satisfactory quality or suitability or fitness of the Goods for a particular or any purpose are excluded

5.3 The Lessor shall not be liable to the Lessee:

5.3.1 in contract or in tort for loss injury or damage arising by reason of any defects in the Goods whether such defects be latent or apparent on examination (other than liability for death or personal injury arising from the negligence of the Lessor)

5.3.2 for any statement term condition warranty or representation made by any supplier dealer agent broker or other person through whom this transaction may be introduced negotiated or conducted and persons other than those in the employ of the Lessor have no authority express or implied to act as agent for the Lessor

5.3.3 either for any loss whatever suffered by the Lessee as a result of the Goods or any part of them being unusable or to supply any replacement goods during any period when the Goods or part of them are unusable

5.3.4 for any loss or damage incurred or sustained by the Lessee in consequence of the Lessor terminating the hiring under clause 6 below or in retaking possession of the Goods

5.4 If the Lessee does not notify the Lessor on delivery of any defect in the Goods it shall be conclusively presumed that the Goods are complete and in good order and condition and fit for the purpose for which they are required and in every way satisfactory to the Lessee

5.4 If the Lessee shall have first discharged in full all its obligations under this agreement including without limitation its liability to pay the sum calculated under clause 3.5.2 above the Lessor shall pay to the Lessee the sum (if any) by which the insurance money in respect of a Total Loss subsequently received by the Lessor exceeds the sums paid by the Lessee to the Lessor under clause 3.5.1

6 Termination

 

6.1 It is hereby agreed that forthwith upon the occurrence of a Total Loss the hiring of the Goods shall terminate but without prejudice to this agreement(which shall continue in full force and effect) and to any claims or liabilities then outstanding or thereafter arising thereunder

6.2 Without prejudice to the Lessor’s right to arrears of Rentals or other sums due or for the damages for breach of this agreement the Lessor may terminate the hiring under this agreement on the occurrence of any of the following events:

6.2.1 if the Lessee shall not pay any of the Rentals or any of the sums agreed to be paid by the Lessee to the Lessor under this agreement punctually on the date when due or

6.2.2 if the Lessee shall be in breach of any term of this agreement or

6.2.3 if there shall be any default in payment of any Rentals or other such sum of money due to be paid or the Lessee shall commit any breach of any of the terms of a lease in force between the Lessor or any company that is a subsidiary of the Lessor or any company that is a subsidiary of the Lessee or that the Lessee is a subsidiary of

6.2.4 if the Lessee shall do or allow to be done any act or thing that may prejudice or endanger the Lessor’s property rights in the Goods or

6.2.5 if the Lessor shall die or

6.2.6 if the Lessee shall have a bankruptcy order made against him or

6.2.7 if the Lessee shall be liquidated or wound up or have a petition for winding presented against it or pass a resolution for voluntary winding up (otherwise than for a bone fie reconstruction) or

6.2.8 if a petition for the appointment of an administrator is presented against the Lessee or if the Lessee has a receiver or administrative receiver appointed or

6.2.9 if the Lessee shall convene any meeting of its creditors or make a deed of assignment or arrangement or otherwise compound with its creditor or

6.2.10 if any step shall be taken to levy a distress or execution or it a distress or execution shall be levied or threatened to be levied upon any chattels of or in the possession of the Lessee or

6.2.11 if the Lessee shall abandon the Goods

whereupon the Lessor’s consent to the possession of the Goods shall determine immediately and the Lessor may take possession of the Goods wherever they may be

5 Consequences of termination

Forthwith upon the hiring of the Goods being determined under clause 6.2 above or if this agreement is terminated upon repudiation by the Lessee accepted by the Lessor the Lessee shall pay to the Lessor:

7.1 all arrears of Rentals including apportioned Rentals for any broken period and

7.2 such amount as the Expert may determine as the amount (if any) by which the Agreed Condition Value exceeds the actual market value of the Goods as determined by the Expert in the condition in which it is upon the Lessor retaking possession if it is on the basis of a sale by a willing seller to a will buyer and

7.3 damages for any breach of this agreement and all expenses and costs incurred by the Lessor (including without prejudice to this agreement and for the avoidance of doubt  the removal of chattels waste machinery items of an electrical or electronic nature house hold trade furniture white goods motor vehicles plant  mechanical parts garden furniture  horticultural plants  left in abandoned dumped by the Lessor for sale auction or general waste disposal without any obligation on the Lessor to use any funds monies credits or profits to offset such funds monies credits or profits against arrears of Rentals or other costs if the Goods are of a type to allow for the storage of goods by the Lessee) in the retaking possession of and selling or re-hiring the Goods or attempting to sell or re-hire the Goods and/or enforcing it rights under this agreement

6 Interest

If any of the Rentals or any other sums payable under this agreement shall not be paid when due the Lessee shall pay to the Lessor interest on them calculated on a daily basis and compounded quarterly from the due date until payment at the rate 8 % and year over the base rate from time to time of Lloyds TSB bank

7 Generally

9.1 The Lessor shall at all time retain the ownership of the Goods and the Lessee shall have no interest in the Goods save as to is provided by this agreement. Notwithstanding that the Goods may have been affixed to any land or building the Lessor shall continue to be the owner of them and they shall as between the Lessor and the Lessee and their respective successors in title remain the personal property of the Lessor

 

9.2

Clause 3.3 above shall not relieve the Lessor of the direct burden of wear and tear to the Goods

9.3

Any delay or failure of the Lessor to exercise any right or remedy shall not constitute a waiver of it or them and any of the Lessor’s rights or remedies may be enforced separately or concurrently with any other right or remedy now or in the future accruing to the Lessor to the effect that such rights are cumulative and not exclusive of each other

9.4

This agreement contains all the terms agreed between the parties except for such variations in writing as shall be agreed by the Lessor and the Lessee. The rights are assignable by the Lessor without the Lessee’s consent. The Lessee is not permitted to assign this agreement

9.5

Any written communication from the Lessor to the Lessee to shall be sufficiently served if the sent by prepaid post or letter or delivered by hand to the address of the Lessee as referred to above and if sent by post or letter shall be deemed to have been received by the Lessee 48 Hours after the time of posting and at the date of delivery if delivered otherwise than by post to the Lessee’s said address

9.6

All sums payable under this agreement shall be paid together with the addition of such VAT as is legally payable on those sums

9.7

The continuance of this agreement or the Lessee’s liability for payment of Rentals and all other sums under it shall not be affected in any way by the loss theft Total Loss or any other damage to or any defect in the Goods whether latent or patent save as provided in clause 6.1 above

9.8

All obligations of the Lessee under this agreement shall be discharged at the Lessee’s cost and expense

9.9

The Contracts (Rights of Third parties) Act 1999 is excluded from applying to this agreement and nothing herein confers or purports to confer any third party any benefit or any right to enforce any term of this agreement

9.10

This agreement shall be governed and construed according to the law of England and Wales

8 Use of information

10.1 In Considering the Lessee’s application the Lessor may search the Lessee’s record at credit reference agencies. They will add to the Lessee’s record details of the Lessor’s search and the Lessee’s application and this will be seen by the other organisations that make searches. The Lessor shall use information it obtains from the Lessee under this agreement or from any credit reference or fraud prevention agencies:

10.1.1 to assess the Lessee’s application, manage the Lessee’s account and provide the Lessor’s services and carry out market research;

10.1.2 to recover debts, prevent fraud and detect money laundering activity;

10.1.3 to develop, improve and market the Lessor’s products and services;

10.1.4 for credit scoring and statistical and analytical purposes

8.2  The Lessor may use a credit scoring or automated decision making system when assessing the Lessee’s application.

8.3   The Lessor may also add to the Lessee’s record with any credit reference agency details of this agreement and any default or failure to keep to its terms. The Lessor may check the details with fraud prevention agencies. These records may be shared with other organisations and used by the Lessor and them to help make decisions about credit and credit related services such as insurance for the Lessee and members of the Lessee’s household trace debtors recover debts prevent money laundering and fraud and to manage the Lessee’s accounts. These include any organisations who introduced the Lessor or who acts on the Lessee’s or the Lessor’s behalf other banks or Lessor’s anyone who has a legal right to such information or anyone to whom the Lessor may intend transferring it rights and/duties under any agreement it may have with the Lessee. For these purposes the Lessor or other organisations may make further searches. Although these searches will be added to the Lessee’s record, they will not be shared with other. THE LESSEE SHOULD WRITE TO THE CUSTOMER SERVICES MANAGER IF THE LESSEE WANTS TO HAVE DETAILS OF THOSE CREDIT REFRENCE AND FRAUD PREVENTION AGENCIES FROM WHOM THE LESSOR OBTAINS AND TO WHOM IT PASSES INFROMATION ABOUT THE LESSEE.THE LESSEE HAS THE LEGAL RIGHT TO THESE DETAILS, THE LESSEE HAS A RIGHT TO RECEIVE A COPY OF THE INFROMATION THELESSOR HOLD ABOUT IT IF THE LESSEE APPLIES TO THE LESSOR IN WRITING. A FEE WILL BE PAYABLE

 

 

T & H Container Storage Limited

68/78 Leads Road

Hull

HU7 0BY