Equipment Lease Extension Agreement (Page 2 of 6) in pdf

Equipment Lease Extension Agreement Page 2

General Information

Equipment Lease Extension Agreement

An Equipment Lease Extension Agreement is a contract where the parties to an

equipment lease (the “Lessor” and “Lessee”) agree to extend the lease

previously entered into.

Having a written Equipment Lease Extension Agreement is beneficial for a

number of reasons.

First, it clearly states the extension terms of the

agreement; for example, extension of the duration of the lease agreement,

rental payments or repair liability, etc. Second, because it is written, it will

prevent future misunderstandings.

And, if a problem does occur, it can be

easily referenced for guidance or clarification.

These types of agreements are governed by state law. Many of the state laws

differ dramatically; therefore, the Lessor and the Lessee should become familiar

with the laws of their state before entering into this type of arrangement. In

addition, before using this form you should always consult with your attorney

to ensure that it addresses your specific situation.

Equipment Lease Extension Agreement Page 2