“Initial Rent Payment” means the first months lease payment, to be paid in advance as is all future payments.“Freight Payment” means the nonrefundable, initial cost to ship leased equipment to the Lessee.“Force Majeure” means any act of God, strikes, lockouts or other industrial disturbances, acts of the public enemy, acts of terrorism, wars, blockades, insurrections, riots, epidemics, landslides, lightning, earthquakes, fires, storms, floods, washouts, arrest and restraints of governments and people, civil disturbances, and explosions.“Equipment” means the commercial grade fitness equipment that is owned by Lessor and which has an approximate value of _.“Effective Date” means the date to which both parties of signed this Agreement.The Casualty Value may be less than but will not be more than the original purchase price of the Equipment. “Casualty Value” means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss.The terms used in this agreement shall have their normal or common meaning, except that the following capitalized terms shall have the following meanings for the purpose of this Agreement. In consideration of the mutual covenants and promises in this Agreement, the receipt and sufficiency f which consideration is hereby acknowledged, the Lessor leases the Equipment to the Lessee, and the Lessee leases the Equipment from the Lessor on the following terms: To the extent that, as part of providing the Service, Global Fitness will provide commercial fitness equipment in exchange for consideration given by Lessee to allow the purchase of said products.Lessor is the rental company which facilities the sale or lease of commercial fitness equipment.
Lessee is interested in obtaining or leasing commercial fitness equipment from Lessor.
By entering into this Agreement, You agree to the terms and conditions to this Agreement, as may be altered from time to time by Global Fitness without notice. (“Global Fitness”, “We”, “Us”, or “Lessor”), collectively called “Parties”. THIS RENTAL AGREEMENT (“Agreement”) as of the effective date, is a contract between you (“You” or “Lessee”) and Global Fitness Inc.
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