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Rental Purchase Agreement
"I need a Rental Purchase Agreement under Belgian law for a fleet of 5 electric delivery vans, where my company will rent them for 18 months starting March 2025, with an option to purchase at the end of the rental period; must include specific maintenance schedules for electric vehicles."
1. Parties: Identification of the owner/lessor and the tenant/potential purchaser, including full legal names, addresses, and registration details if companies
2. Background: Context of the agreement, including description of the property/asset and the parties' intention to enter into a rental purchase arrangement
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Rental Period', 'Purchase Option', 'Purchase Price'
4. Object of the Agreement: Detailed description of the property/asset being rented with option to purchase, including any identifying characteristics or serial numbers
5. Term and Commencement: Duration of the rental period and conditions for commencement of the agreement
6. Rental Payments: Amount, frequency, and method of rental payments, including any adjustments or indexation
7. Purchase Option: Terms and conditions of the purchase option, including price calculation and how/when the option can be exercised
8. Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements during the rental period
9. Insurance and Risk: Insurance requirements and allocation of risk between parties
10. Use of Property: Permitted use of the property/asset and any restrictions
11. Default and Remedies: Events of default and available remedies for both parties
12. Termination: Circumstances and procedures for early termination of the agreement
13. Governing Law and Jurisdiction: Specification of Belgian law as governing law and competent courts
1. Guarantees: Additional guarantees or securities required from the tenant/purchaser, used when financial security is needed
2. Special Conditions: Any special conditions or requirements specific to the property or circumstances, used when standard terms need modification
3. Tax Provisions: Specific tax arrangements and responsibilities, used particularly in business-to-business contexts
4. Property Registration: Specific provisions regarding property registration requirements, used for immovable property
5. Subletting and Assignment: Terms regarding subletting or assignment rights, used when these rights are to be granted or specifically prohibited
6. Environmental Provisions: Environmental responsibilities and compliance requirements, used for properties with environmental concerns
7. Force Majeure: Provisions for unforeseen circumstances affecting contract performance, used in longer-term agreements
1. Schedule 1 - Property Description: Detailed technical description of the property/asset, including photographs, plans, or technical specifications
2. Schedule 2 - Payment Schedule: Detailed breakdown of rental payments, purchase price calculation, and payment terms
3. Schedule 3 - Condition Report: Initial condition report of the property/asset at commencement of the agreement
4. Schedule 4 - Insurance Requirements: Detailed insurance requirements and specifications
5. Schedule 5 - Maintenance Schedule: Detailed maintenance requirements and schedules
6. Appendix A - Purchase Option Exercise Form: Template form for exercising the purchase option
7. Appendix B - Handover Protocol: Protocol for property/asset handover at commencement and termination
Authors
Property
Commencement Date
Term
Rental Period
Rental Payment
Purchase Option
Purchase Price
Option Period
Completion Date
Business Day
Force Majeure
Permitted Use
Security Deposit
Default Interest Rate
Insurance Requirements
Material Breach
Maintenance
Operating Costs
Purchase Notice
Registration Duties
Lessor
Lessee
Transfer Date
Condition Report
Fair Wear and Tear
Indexation
Handover Protocol
Major Repairs
Minor Repairs
Payment Date
Professional Costs
Property Rights
Purchase Completion
Renewal Period
Taxes
Title Documents
Utilities
VAT
Working Hours
Interpretation
Term and Duration
Rental Payments
Purchase Option
Title and Ownership
Property Use and Access
Insurance and Risk
Maintenance and Repairs
Alterations and Improvements
Assignment and Subletting
Default and Remedies
Termination
Force Majeure
Property Registration
Tax and Duties
Costs and Expenses
Utilities and Services
Environmental Compliance
Health and Safety
Representations and Warranties
Indemnification
Notices
Confidentiality
Data Protection
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendment
Waiver
Further Assurance
Real Estate
Equipment Leasing
Automotive
Industrial Manufacturing
Construction
Agriculture
Retail
Office Equipment
Technology Hardware
Heavy Machinery
Transportation
Commercial Property
Legal
Finance
Operations
Procurement
Risk Management
Compliance
Real Estate
Asset Management
Property Management
Commercial Operations
Facilities Management
Legal Counsel
Property Manager
Asset Manager
Finance Director
Contracts Manager
Real Estate Agent
Commercial Director
Risk Manager
Compliance Officer
Operations Manager
Procurement Manager
Fleet Manager
Facilities Manager
Business Development Manager
Chief Financial Officer
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