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Rental Terms & Conditions - RACE

Rental Terms & Conditions


The Goods shall include each and every component part record logbook manual and handbook for them and all replacements renewals of additions to and substitutions for the Goods from time to time made shall form an integral part of them and shall become the property of the Owner and subject to this Agreement.

The Schedule means any schedule from time to time made subject to this Agreement. This Agreement and each schedule shall form a separate agreement for the lease of such of the Goods described in such schedule upon the terms contained in it and in this Agreement but so that any breach of the provisions of any such agreement shall be deemed to be a breach of all such agreements then in force between the parties.


The term of the hiring (the Hire Period) and the rentals (the Rent) are set out overleaf. So long as the Hirer is neither in default in the payment of any sum of money payable nor is in breach of any of the covenants on its part to perform in this Agreement it may peaceably hold and enjoy quiet possession of the Goods for the Hire Period.


The Hirer (and if the Hirer comprises more than one person each such person jointly and severally) agrees:


To pay punctually and without demand, deduction, counterclaim or set-off to the Owner at its address given above or to its order the Deposit and Rent (as set out overleaf) and all other sums due from the Hirer to the Owner at the times specified for payment in this Agreement and that in respect of any sums payable under this Agreement time shall be of the essence and a condition of this Agreement is that failure to pay any sums due within 21 days after the due date shall be a repudiation of this Agreement.


3.2.1To inspect the Goods upon delivery of them to it and to notify the Owner immediately in writing of any defect in the Goods provided that if no such notification is given it shall be conclusively presumed that the Goods are complete and in good order and condition and fit for the purpose for which they are required and in every way satisfactory to the Hirer.

3.2.2To allow the Owner or its duly authorised agent or representative upon reasonable notice at any time access to inspect the Goods and any records logbook manual or handbook forming part of the Goods.


3.3.1To use the Goods in a skilful and proper manner and in accordance with any operating instructions issued for them and to ensure that the Goods are operated and used by properly skilled and trained personnel.

3.3.2To keep the Goods at its own expense and at all times in good repair condition and working order properly serviced and maintained and at its own cost and expense to obtain and fit all such new parts as shall from time to time be required and (subject to Clause 3.5 below) if any part of the Goods are destroyed damaged or lost at the Hirer’s cost and expense to repair and replace them with replacements in such condition as to comply in all respects with the terms of this Agreement.

To make no alteration to the Goods and not to remove any existing component from the Goods unless it is replaced immediately (or if removed in the ordinary course of repair and maintenance as soon as practicable) by the same component or by one of a like make and model to the one removed or an improved or advanced version of it.

3.3.4To keep or procure to be kept throughout the Hire Period accurate complete and current records of all use operation maintenance servicing repairs and replacements carried out to the Goods.

3.3.5To obtain effect and keep effective all permissions licences and permits and to pay all rates rents taxes and charges which may from time to time be required in connection with the business of the Hirer the Goods and their use the premises where they are from time to time situated or kept and to comply with all statutory and other obligations of all kinds in relation to the Goods and the use of them and at its own expense to add to or install with the Goods any safety or other equipment required by any applicable law or regulation to be so added or installed for the use or operation of the Goods and to protect the Goods against distress execution or seizure and to indemnify the Owner against all losses charges and damages however incurred by the Owner by reason of failure by the Hirer to comply with any of the above.


3.4.1To insure the Goods and keep the Goods insured throughout the Hire Period (in the joint names of the Owner and the Hirer) for their full replacement value against all risks on a comprehensive policy without restriction or excess.

3.4.2To insure the Owner and the Hirer jointly against all liability to third persons for death personal injury and damage to or loss of property arising directly or indirectly out of the use possession or operation of the Goods or any modification or re-enactment of it for such amount as the Owner may stipulate from time to time or in the absence of any such stipulation for such amount as is prudent in all the circumstances and in any event for at least the sum of

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such policy to provide that any payment made under it be made directly in or towards satisfaction of the claim in respect of which such payment is made.

To pay punctually all premiums due for such insurance and to produce to the Owner on request the policy or policies together with evidence of payment of the premiums and the Hirer agrees that the Owner may effect the insurance referred to in this Clause 3.4 if the Hirer has failed to do so (though it is not under any obligation so to do) and to reimburse the Owner on demand the cost of so doing.


If the Goods are destroyed (in this Agreement referred to as a Total Loss) then on the expiry of [30 days (or as required to enable a claim to be made to the insurers)] after the occurrence giving rise to such Total Loss (or on such later date as the Owner may agree) the Hirer shall pay to the Owner an amount equal to the sum calculated under the provisions of Clause 7 below as if the Owner had lawfully terminated the hiring of the Goods under Clause 6 below on the date of such Total Loss, save that a deduction shall be made of the amount of the insurance money (if any) that prior to the expiry of the said [30] days has been received by the Owner under the policy or policies maintained in compliance with Clause 3.4.1 provided that: sum shall be paid together with interest on it calculated in accordance with Clause 8 below from the date of such Total Loss until the date of payment; and immediately upon the occurrence of a Total Loss the hiring of the Goods shall terminate but without prejudice to this Agreement which shall continue in full force and effect and to any claims or liabilities then outstanding or arising in the future by virtue of this Agreement

3.5.2If loss or damage occurs that does not amount to a Total Loss to the Goods: to notify the Owner; apply all insurance moneys payable in making good such damage; and being requested by the Owner so to do and at the Hirer’s expense immediately to assign to the Owner all the Hirer’s rights benefits and claims under any relevant policy of insurance.

3.5.3To be solely responsible for and indemnify the Owner in respect of all loss or damage to the Goods (in so far as the Owner shall not be reimbursed by the proceeds of insurance in respect thereof) however caused occurring at any time or times before physical possession of them is retaken by the Owner.


To keep the Goods in its own possession at the location (the Specified Location) stated in overleaf (or at such other location(s) as the Owner may agree) and in compliance with any policy of insurance affecting the Goods and neither to sell or offer for sale assign mortgage pledge underlet lend or otherwise deal with the Goods or any interest in them or in this Agreement nor to allow the creation of any charge or lien over them nor without the previous written consent of the Owner to attach the Goods to any land or premises so as to cause them to become a permanent or immoveable fixture on such land or premises.

3.6.2Neither to sell transfer lease or otherwise dispose of nor mortgage charge nor otherwise encumber the Goods.

3.6.3To ensure that if the Goods are or become affixed to any land or building they shall be capable of being removed without material injury to such land or building and to take all necessary steps to prevent title to the Goods from passing to the landlord of such land or building.

3.6.4To repair and make good any damage caused by the affixation of the Goods to or their removal from any land or building and to indemnify the Owner against all loss damage or liability it may incur or sustain as a result of such affixation or removal.


To indemnify the Owner against all loss actions claims demands proceedings (whether criminal or civil) costs legal expenses (on a full indemnity basis) insurance premiums and liabilities judgments damages or other sanctions whenever arising directly or indirectly from the Hirer’s failure or alleged failure to carry out its duties under this Agreement or by reason of any loss injury or damage suffered by any person (including without limitation the Owner) from the presence of the Goods or the delivery possession hiring transportation condition use operation removal or return of them or their sale or disposal by the Owner or any defect in the Goods or the design manufacture testing maintenance or overhaul of them or the Owner exercising any right in respect of the Goods or their ownership or hiring.


To deliver up the Goods serviced and maintained and in good repair and working order as provided in Clause 3.3 at the expiration of the Lease Term or upon earlier determination of this Agreement or the hiring under it at such address as the Owner shall notify to the Hirer and if necessary to allow the Owner its agents or representatives access to any premises where the Goods may be for the purpose of removing them.


To keep the Owner regularly informed of the financial progress of the Hirer’s business and upon the Owner’s request, and where applicable, to supply to the Owner a copy of every balance sheet and accounts prepared by the Hirer in relation to its business and such further information as the Owner may from time to time require concerning the Hirer’s financial position or the Goods and their use.


The Owner shall at all times during the Hire Period retain the ownership of the Goods. The Owner agrees that if the Hirer shall pay punctually the rentals or other sums due from the Hirer under this Agreement for a period of

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/ for the duration of this Agreement] and shall strictly observe and perform all the terms conditions and obligations on his part herein contained he shall have the option to purchase the Goods for

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and upon such payment title to the Goods shall pass to the Hirer.


5.1The Owner agrees upon request and at the cost and expense of the Hirer to assign to the Hirer the benefit of all express warranties granted in favour of the Owner by the supplier of the Goods or the manufacturer of them or any third party.

5.2 The Owner does not let or supply the Goods with any representation concerning the condition performance or qualities of the Goods or with or subject to any term condition or warranty express or to be implied by statute description at common law or otherwise and all such representations conditions warranties whether relating to the capacity age quality description condition leasing possession transportation or use of the Goods or to the suitability or fitness of the Goods for a particular or any purpose are excluded.

5.3The Owner shall not be liable to the Hirer:

5.3.1In contract or in tort for loss injury or damage arising by reason of any defects in the Goods whether such defects be latent or apparent on examination (other than liability for death or personal injury arising from the negligence of the Owner).

5.3.2For any statement term condition warranty or representation made by any supplier dealer agent broker or other person through whom this transaction may have been introduced negotiated or conducted and persons other than those in the employ of the Owner have no authority express or implied to act as agent for the Owner.

5.3.3Either for any loss whatever suffered by the Hirer as a result of the Goods or any part of them being unusable or to supply any replacement goods during any period when the Goods or part of them are unusable.

5.3.4For any loss or damage incurred or sustained by the Hirer in consequence of the Owner terminating the hiring under Clause 6 or in retaking possession of the Goods.

Without prejudice to the generality of the foregoing the Owner gives no warranties that the Goods do not or that the Hirer’s use of the Goods will not infringe any patents trademarks and registered designs copyrights or confidential information or intellectual property rights owned or possessed by any third party and the Owner shall not be liable to the Hirer for any loss suffered by the Hirer in any way by reason of any such infringement.


6.1It is hereby agreed that forthwith upon the occurrence of a Total Loss the hiring of the Goods shall terminate but without prejudice to this Agreement (which shall continue in full force and effect) and to any claims or liabilities then outstanding or thereafter arising thereunder.

6.2Without prejudice to the Owner’s right to arrears of rentals or other sums due or for damages for breach of this Agreement the Owner may terminate the hiring under this Agreement on the occurrence of any of the following events:

6.2.1If the Hirer shall not pay any of the rentals or any sums agreed to be paid by the Hirer to the Owner under this Agreement punctually on the date when due; or

6.2.2If the Hirer shall be in breach of any term of this Agreement; or

6.2.3If the Hirer shall do or allow to be done any act or thing that may prejudice or endanger the Owner’s property or rights in the Goods; or

6.2.4If the Hirer shall die; or If the Hirer shall be adjudged bankrupt; or

If the Hirer, being a company, shall be liquidated or wound up or have a petition for winding up presented against it or pass a resolution for voluntary winding up (otherwise than for a bona fide reconstruction); or If a petition for the appointment of an examiner or administrator is presented against the Hirer or if the Hirer has a receiver or administrative receiver appointed; or If the Hirer shall convene any meeting of its creditors or make a deed of arrangement or otherwise compound with its creditors; or if the Hirer shall abandon the Goods whereupon the Owner’s consent to the Hirer’s possession of the Goods shall determine immediately and the Owner may take possession of the Goods wherever they may be.


Forthwith upon the hiring of the Goods being determined as above or under Clause 9 below or if the hiring under this Agreement is terminated upon a repudiation by the Hirer accepted by the Owner the Hirer shall pay to the Owner:

7.1All arrears of rent including apportioned rent for any broken period.

7.2All rentals that would have been paid by the Hirer to the Owner until the end of the Hire Period referred to overleaf.

7.3Damages for any breach of this Agreement and all expenses and costs incurred by the Owner in retaking possession of and leasing or attempting to lease and selling or attempting to sell the Goods and/or enforcing its rights under this Agreement.

7.4For the avoidance of doubt, the Owner shall be entitled to retain and keep the Deposit and set it off against payments due to it under Clauses 7.1, 7.2 and 7.3 above.


If any of the rentals or any other sums payable under this Agreement shall not be paid when due the Hirer shall pay to the Owner interest on them calculated on a daily basis and compounded quarterly from the due date until payment at the rate of 5% per year over the European Central Bank base rate, being the rate at which the European Central Bank will lend to commercial banks.


The Hirer may terminate the hiring of the Goods at any time and shall upon so doing forthwith return the Goods to the Owner in condition where they comply with the terms of this Agreement at its own risk cost and expense together with all licences registration books or certificates the insurance policy and certificate or other documents relating to the Goods.


10.1 The Owner shall at all times retain the ownership of the Goods and the Hirer shall have no interest in the Goods save as is provided by this Agreement. Notwithstanding that the Goods may have been affixed to any land or building the Owner shall continue to be the owner of them and they shall as between the Owner and the Hirer and their respective successors in title remain the personal property of the Owner.

10.2 Any delay or failure of the Owner to exercise any right or remedy shall not constitute a waiver of it or them and any of the Owner’s rights or remedies may be enforced separately or concurrently with any other right or remedy now or in the future accruing to the Owner to the effect that such rights are cumulative and not exclusive of each other.

10.3 This Agreement contains all the terms agreed between the parties except such variations in writing as shall be agreed in writing by the Owner and the Hirer.

10.4 Any written communication from the Owner to the Hirer shall be sufficiently served if sent by prepaid post or letter or delivered by hand to the address of the Hirer as referred to above and if sent by post or letter shall be deemed to have been received by the Hirer 48 hours after the time of posting and at the date of delivery if delivered otherwise than by post to the Hirer’s said address.

10.5 VAT shall be payable by the Hirer as indicated in the overleaf.

10.6 The continuance of this Agreement or the Hirer’s liability for payment of rentals and all other sums under it shall not be affected in any way by the loss theft Total Loss or any damage to or any defect in the Goods whether latent or patent save as provided in Clause 3.5.2 above.

10.7All the obligations of the Hirer under this Agreement shall be discharged at the Hirer’s cost and expense.

10.8 This Agreement shall be governed and construed according to the law of Ireland.


11.1 In considering the Hirer’s application, the Owner may search the Hirer’s record at credit reference agencies. They will add to the Hirer’s record details of the Owner’s search and the Hirer’s application and this will be seen by other organisations……………………………………..that make searches. The Owner shall use information it obtains from the Hirer under this agreement or from any credit reference or fraud prevention agencies:

11.1.1 to assess the Hirer’s application manage the Hirer’s account and provide the Owner’s services and to carry out market research;

11.1.2 to recover debts, prevent fraud and to detect money laundering activity;

11.1.3 to develop improve and market the Owner’s products and services;

11.1.4 for credit scoring and statistical and analytical purposes.

11.2 The Owner may use a credit scoring or other automated decision making system when assessing the Hirer’s application.

11.3 The Owner may also add to the Hirer’s record with any credit reference agency details of this Agreement and any default or failure to keep to its terms. The Owner may check the details with fraud prevention agencies. These records may be shared with other organisations and used by the Owner and them to help make decisions about credit and credit related services such as insurance for the Hirer and members of the Hirer’s household, trace debtors, recover debt, prevent money laundering and fraud and to manage the Hirer’s accounts. These include any organisations who introduced the Owner or who acts on the Hirer’s or the Owner’s behalf, other banks or lessors, anyone who has a legal right to such information or anyone to whom the Owner may intend transferring its rights and/or duties under any agreement it may have with the Hirer. For these purposes the Owner or other organisations may make further searches. Although these searches will be added to the Hirer’s record they will not be shared with others.