The rental period shall commence on and include the date of consignment of the equipment from the Lessor's shipping point to the Lessee, or the Lessee's agent including any public carrier taking same for transit to the Lessee.
The rental period shall end on and include the date of actual delivery of the equipment to the lessor, another lessee of the lessor or agent of either including any public carrier taking same for transit to the lessor or such other lessee.
In calculating the rental period, 24 hours or any part thereof constitutes one full day.
Rent is payable to the Lessor within 30 days of the date of invoice and all overdue payments shall bear interest at the rate of Twenty-Four per cent (24%) per annum.
Well conditions, that prevent satisfactory operation of pipe and tools do not relieve the Lessee of his responsibility for rental charges.
Accrued rental charges cannot be applied against the purchase price of tools out on rental or lost tools or pipe.
THERE IS NO CASH DISCOUNT ON SECOND HAND MATERIAL OR RENTAL TOOLS.
The Lessee shall pay all freight, rail, or air express and drayage charges from and to the Lessor's shipping points.
The Lessor reserves the right to remove the equipment from the location at any time when, in the Lessor's opinion, the equipment is in danger because of strikes, bankruptcy or any other situation.
The equipment shall be presumed for all purposes hereof to be in good condition and working order when delivered to the carrier and it is hereby agreed that the Lessor makes no warranty of guarantee whatsoever as to the equipment after it leaves the Lessor's shipping point, or as its performance, or as to its fitness or applicability for any purpose.
The Lessee shall not remove, alter or disfigure any identification insignia displayed upon the equipment and shall see that the equipment is not subjected to careless or needlessly rough usage, or operated by any person other than those who are fully competent to operate such equipment.
The Lessee shall, at the Lessee's own expense maintain the equipment and make all repairs and replace all broken or worn out parts in order to keep it in good condition and working order, fair wear and tear only excepted, throughout the entire rental period.
The Lessee shall indemnify the Lessor against all loss and damage sustained by equipment during the rental period and the extent of any such loss and damage shall be based on the new replacement cost listed in the Details of Equipment.
The Lessee shall indemnify the Lessor against all loss, expenses, penalties, damages, condemnations and legal cost which the Lessor may suffer or may be required or condemned to pay for personal injuries including death and/or property damage suffered by any person by reason of the operation, handling, transportation or use of the equipment by or while in the hands of the Lessee or the latter's employees, agents or carriers.
The Lessee hereby renounces all claims, which the Lessee may have against the Lessor for any loss, or damage, which the Lessee may suffer, either directly or indirectly, by reason of the condition of the equipment or its suitability for the work it may be required to perform.
Unless advised to the contrary in writing, the Lessee shall maintain at the Lessee's own expense, fire and liability and any other insurance required to indemnify the Lessor against any loss or damage sustained by the equipment, during the rental period.
The Lessee shall keep the equipment free of levies, liens and encumbrances, and shall pay all license fees, registration fees, assessments, charges and taxes (whether federal, provincial or municipal) which may be levied or assessed directly or indirectly against or on account of the said equipment or any interest therein or use thereof. If the Lessee fails to pay such fees, assessed charges or taxes, the Lessor may pay them, in which event thereof together with the Lessor's service charges for payment thereof (8% of amount paid) shall constitute so much additional rent which shall become immediately due and payable as arrears of rent.
The Lessee shall give the Lessor immediate notice in case any of the equipment is levied upon or from any cause become liable to seizure.
Title to the equipment remains at all times vested in the Lessor, and nothing contained herein shall be construed to create anything other than the relationship of Lessor and Lessee between the parties.
The equipment shall at all times during the rental period be and remain the personal property, regardless of the manner in which it may be attached to any real estate.
The Lessee shall not sublet the equipment nor shall the Lessee assign or transfer any interest hereunder.
If the Lessee becomes bankrupt or fails to maintain or operate or to return the equipment or violates any provision hereof, the Lessor may upon giving the Lessee three (3) days prior written notice, terminate the lease to take possession of the equipment without liability of any kind, and recover all rentals due and full damages for any injury to and expenses incurred in obtaining the return of the equipment.
Other items to be determined as they come into effect.