Equipment Rental Agreement 05-27-2015
Equipment Rental Agreement (updated May 27, 2015)
This equipment rental agreement governs the rental of business communications equipment provided by Jive Communications, Inc. (“Jive”) to the “Customer” identified in a signed sales quote.
The parties agree as follows:
- Term. The rental term begins on the date the Customer signs the sales quote and initially extends for three years unless otherwise stated in the sales quote.
- Extension of Term. (a) Except as stated in section 2(b), the rental term will be automatically extended for an unlimited number of successive one-year periods after the initial term unless the Customer delivers notice of termination no less than 30 days before the end of the term.
(b) Instead of automatic extension under section 2(a), the Customer may elect to extend the rental term on a month-to-month basis after the initial term by delivering notice of its election to Jive no less than 30 days before the end of the term.
- Early Termination. If the Customer (1) terminates Services under the early termination provisions of the terms of service or (2) terminates the equipment rental before the end of the rental term, the Customer shall pay Jive an early termination fee equal to the original purchase price of the equipment plus 10%. Jive hereby assigns title to the equipment to the Customer upon payment of the early termination fee.
- Billing. The Customer shall pay the Rental Charges stated in the sales quote in accordance with the billing provisions of the terms of service.
- Maintenance of Equipment. (a) The Customer shall keep the rental equipment in good working condition.
(b) If the rental equipment is damaged during the rental term, the Customer shall pay Jive an amount equal to the lesser of the original purchase price or the cost to repair the equipment.
(c) Except for early terminations under section 3, if the Customer fails to return the rental equipment within 10 days after the termination of the rental term, it shall pay Jive an amount equal to the original purchase price of the rental equipment.
- Sub-renting of Equipment. The Customer shall not pledge, encumber, sub-rent, or loan rented equipment to any third party without Jive’s written consent.
- Defective Equipment. Jive shall repair or replace at no cost to the Customer any rental equipment that fails during the rental term due to a manufacturer’s defect.
- Modification. Jive may modify this rental agreement by posting revised terms online at jive.com/legal/equipment-rental-agreement/, without additional notice to the Customer. The revised rental agreement will take effect 30 days after posting.
- Binding Arbitration. If the parties are unable to resolve any dispute arising from this rental agreement by direct negotiation, they shall resolve the dispute through binding arbitration in Salt Lake City, Utah before a single arbitrator from the American Arbitration Association in accordance with its Commercial Arbitration Rules. The parties hereby waive any right to a jury trial in connection with any claim arising from this rental agreement.
- Attorneys’ Fees. If any arbitration or legal proceeding is validly instituted to enforce the terms of this rental agreement, the prevailing party may recover its attorneys’ fees and other costs.
- Governing Law; Personal Jurisdiction; Venue. This rental agreement is governed by the laws of the State of Utah without regard to its conflicts-of-law provisions. If any litigation is validly instituted in connection with this agreement, the parties hereby consent to the exclusive personal jurisdiction of the courts in Utah and waive any objection as to venue or inconvenient forum.
- Waiver of Rights. Failure to enforce a right or provision under this agreement does not constitute a waiver of that right or provision.
- Severability. If any part of this rental agreement is declared unenforceable by a court, all other parts will remain enforceable.
- Survival. Sections 3, 4, 5, 9, 10, 11, 12, 13, 14, 15, and 16 will survive termination of this rental agreement.
- Notices. (a) Jive shall deliver any notice to the Customer to the mailing address, fax number, or e-mail address stated in the sales quote. The Customer shall deliver any notice to Jive by fax to 385-309-0012, by e-mail to firstname.lastname@example.org, or by delivering it to 1275 West 1600 North, Suite 100, Orem, UT 84057. Either party may update its contact information for notices by delivering notice of the new contact information to the other party in accordance with this section 15(a).
(b) Notice will be deemed to have been duly given (1) upon delivery, if delivered personally to an officer of the receiving party; (2) upon verbal or written confirmation of receipt (not including automatically-generated responses), if delivered by fax or e-mail; (3) three business days after being mailed by registered or certified mail, postage prepaid; or (4) the next business day, if sent by commercial overnight delivery service; unless, with respect to (3) or (4), tracking information indicates delivery on a different date.
- Assignment. Jive may assign its rights and obligations under this agreement to any successor of substantially all of its assets. Otherwise, neither party may assign its rights or obligations under this agreement without the written consent of the other party.
- Effectiveness; Signature. This agreement will become effective when the Customer has signed the sales quote. The Customer may sign the sales quote by hand or by electronic means (for example, by using a commercial e-signature service or by typing the name of the Customer’s authorized representative into a web form).