This Hardware as a Service Lease Agreement ("Haas") is by and between Cavecreek and Client for the Lease or Lease to Own of certain computer hardware equipment located, managed, and supported exclusively in a Cavecreek facility.
The Term of the Haas agreement shall be determined upon execution of a valid Service Order Form ("SOF") and shall be for a length of 12, 24, or 36 months respectively. At the expiration of the initial Term, the agreement is subject to automatic renewal for an additional Term. Client shall be provided the option to take full and exclusive possession of the hardware or will be provided an option to continue use of the hardware on a monthly basis with no Buyout provision.
Upon execution of the Service Order Form, Client is provided the option to buy the hardware at the expiration of the Term when the Lease to Own option is specified on the Service Order Form. Client shall elect on the applicable Service Order Form to either to purchase the specified hardware at the end of the agreed Term or to continue use on a monthly basis. The Buyout price is one dollar ($1.00) for each specified piece of hardware. Each SOF including leased Hardware shall constitute a separate lease to own agreement and shall be binding, when executed by the Parties hereto, upon the Parties, their successors, legal representatives and permitted assigns. The terms and conditions contained herein and in such SOF or Order Forms shall govern the lease to purchase and use of the Hardware.
Client is responsible for paying the monthly fee as specified in the Service Order. Client may incur a Setup fee equivalent to one monthly payment of the Hardware as a Service Agreement. Interest on past due balances will be 10% per month.
If Client elects a Lease to Own arrangement, there is no applicable prepayment penalty. Lessee may purchase the applicable Hardware prior to the expiration of the term provided on the HOF at any time prior to expiration of the agreed Lease to Own Term by paying all monthly rental amounts in advance. Upon receipt of all funds owed, Lessor shall deliver all right, title, and interest in the applicable Hardware subject to sale.
As selected by Client, Cavecreek will provide adequate facilities and electricity in one of its managed facilities. Client will maintain possession of equipment in a licensed space which may be removed from a Cavecreek facility only upon Buyout. All alterations, upgrades, and modifications to Equipment shall be performed by Cavecreek.
The monthly service payment includes all costs for hardware, software, operating systems, and all labor needed to maintain all hardware, software, operating systems on the Equipment Schedule(s) located in the Service Order Form. Cavecreek shall provide Best Effort Support Client is responsible for the following:
If Client experiences a problem with the operations of the computer hardware, Client shall open a ticket with Cavecreek Support at email@example.com. The ticket shall provide details of the problem, and any necessary information required by support to correct the problem.
Client is responsible for carrying out routine backups for their content to a remote location. Cavecreek is not responsible and waives all liability for lost data due to system or hardware failure.
Cavecreek guarantees that any request for service will be acknowledged within four hours.
The computer hardware shall at all times remain in the possession of Client, subject to Buyout. It is the intention and understanding of both Cavecreek and Client that the Equipment shall be and at all times remain separately identifiable personal property.
Cavecreek maintains a security interest in the computer hardware. In the event of a default by Client, Cavecreek retains the right to repossess all computer equipment provided to Client, irrespective of Order or Service Order(s). Client agrees to surrender all computer hardware and related devices to Cavecreek upon notice of default.
Client shall be in default if:
If the Client is in default of this agreement, Consultant may take a variety of actions, including but not limited to terminating the agreement, and recovering the equipment.
At the termination of the Lease, Lessee shall, at its expense, return the Hardware to Lessor (at the location designated by Lessor within the continental United States) in the same operating order, repair, condition and appearance as on the Installation Date, reasonable wear and tear only excepted with all engineering changes prescribed by the manufacturer prior thereto incorporated therein, and Lessee shall arrange and pay for such repairs (if any) as are necessary for the manufacturer to accept the Hardware under contract maintenance at its then standard rates.
At the termination of the Lease to Own, Lessee shall purchase for the amount contained herein all applicable equipment detailed in the relevant HOF. Upon Buyout, Lessee shall own all right, title and interest in the purchased hardware. Lessor shall expeditiously provide all documentation for conveyance of hardware to Lessee, and deliver hardware to Lessee at a place of Lessor's choosing.
Lessee shall comply with all governmental laws, regulations and requirements, and all insurance requirements, if any, with respect to the use, maintenance and operation of the Hardware.
Except as otherwise specifically provided in this Agreement, it is understood and agreed that this is a closed end lease, and that, as between Lessor and Lessee, Lessor shall be responsible for all costs and expenses of every nature whatsoever arising out of or in connection with or related to this Agreement or the Hardware.
V.2, Published 12.10.2015