GENERAL TERMS AND CONDITIONS OF LEASE

1. DEFINITIONS, DISTINCTION AND VALIDITY

The non-terminable basic term of lease will begin on the first of the calendar quarter following delivery of the LO, or the first of the month if monthly payments have been agreed upon (Commencement Date). Should the LO be delivered prior to Commencement Date, 1/30 of the monthly rate is to be paid every day of the interim period. The Lessee will inspect the LO immediately upon delivery and shall give notice of defects immediately. The Lessee may only confirm delivery of the LO once he / she has ascertained that the delivery is complete and in a contractually acceptable condition.

2. EXTENSION, END OF LEASE, RETURN OF THE LO

The contract will be automatically renewed for a period of six months if it is not terminated in writing by one of the parties at least three months before expiry of the basic rental term or of the renewal period. Upon termination of the contract – also before the agreed date – the Lessee will return the LO to the Lessor in a functional and contractually acceptable condition. Any data belonging to the Lessee must be deleted in full. The LO will be returned at the expense and risk of the Lessee to the Lessor's business address provided in this General Terms and Conditions of Lease. If the LO is not returned on time, the Lessor is entitled, though not obliged, to arrange for the LO to be collected at the expense of the Lessee.

If the contract is terminated for a reason for which the Lessee is responsible, the Lessee will be in default with the damage claim of the Lessor if the Lessee does not make a payment within a period of 14 days after receiving the termination notice and the assertion of the damage.

3. DELIVERY AND RIGHTS OF THE LESSEE

The Lessee will bear the cost of delivery to the Lessee proportionately with the Lessor. The Lessor will assign to the Lessee any rights concerning contractual delivery, with the exception of the right to reimbursement of the purchase price. The Lessee is responsible for exercising these rights.

4. RISK OF ACCIDENTAL LOSS, DESTRUCTION OR DETERIORATION AND RISK OF NON-PAYMENT

The Lessee will bear the risk of accidental loss, destruction or deterioration and risk of non-payment. As the owner of the LO, the Lessor has taken out general property protection with an admitted insurer. The Lessee will bear the cost of covering the LO The Lessee is entitled at all times, and also obliged at the request of the Lessor, to take out his / her own property protection with an insurer of his / her choice at his / her own expense.

5. PROPERTY PROTECTION, DOCUMENTATION AND PROPERTY PROTECTION BENEFITS

The Lessee will hereby assign any claims arising from the protection policy and against any possible damaging party to the Lessor. At the request of the Lessor, the Lessee will be obliged to assert such claims in the event of damage on behalf of the Lessor at the Lessee's expense and demand payment to the Lessor. The Lessee will bear any excess provided for in the protection policy. If repair costs were to exceed half of the LO's current market value, the Lessee may terminate the lease contract in writing with immediate effect. Should the Lessee terminate the contract on these grounds, the Lessee is to place the Lessor in the same position in which it would have found itself at the agreed end of the contract if the damage event had not occurred. Compensation payments must be used to repair or replace the rented object or to make good the damage.

6. USAGE, COSTS AND REPAIRS

The Lessee will heed supplier and manufacturer recommendations as well as regulatory requirements concerning the operation of the LO and will pay any fees relating to the use or possession of the LO and any other charges. The Lessee will maintain the LO in a contractually acceptable and functional condition (including procurement of the recommended updates) at his / her expense until it is returned to the Lessor; moreover, the Lessee will indemnify the Lessor against claims of any kind filed by third parties due to the set-up, operation or property rights concerning the LO. The LO may not be handed over to the Supplier or any third party except for the purposes of repair work and only for as long as necessary.

7. LIABILITY, RIGHTS AND OBLIGATIONS OF THE LESSOR IN THE EVENT OF DEFECTS, WARRANTIES AND DEFAULT OF THE LESSEE

The Lessor will contract out liability for any defects of the LO by assigning, at the time the contract is concluded, all rights concerning any defects to which it is entitled based on the purchase agreement for the LO to the Lessee, as well as rights arising from warranties. If defects emerge or a warranty case arises, the Lessee must assert these rights immediately. In the case of price reduction or cancellation of the contract, the Lessee will demand payment to the Lessor. The Lessee is only entitled to refuse to make due payments if supplementary performance fails and the Supplier verifiably accepts the Lessee's request for a price reduction or cancellation of the contract or if the Lessee has taken legal action against the Supplier. The same will apply with regard to a guarantor. Rights arising from product defects will expire by limitation after a period of one year; such rights are excluded for used LO's.

The Lessee understands and expressly agrees that in the event of default by Lessee, the contract is voidable without the need for a judicial order. The Lessor is therefore entitled to terminate the contract for the reason of default by the Lessee, without a prior notice.

Lessor and its Agents shall have an irrevocable license to enter the Lessee's premises on which the LO are stored to inspect and if required, to remove the LO. The Lessee will give all reasonable assistance to Lessor to facilitate Lessor's requirements in respect of this clause.

8. TRANSFER OF RIGHTS AND OBLIGATIONS REFINANCING & NO PURCHASE RIGHT

The Lessee may only transfer or pledge and obligation arising from this contract with the prior written permission of the Lessor.

The Lessee will agree to the transfer of the contract duties to the refinancing provider, provided that he transfer will not entail any legal or economic disadvantages for the Lessee. In order to safeguard the refinancing provider in the case of insolvency on the part of the lessor, the following is agreed as a precautionary measure: if the refinancing provider is entitled to utilize the LO by means of leasing, the Lessee is obliged to conclude this lease contract anew or to continue this contract with the refinancing provider or a third party assigned by the latter. The lessee should not find themselves in a worse position, either legally or economically, than the position which they would have been in had there been no insolvency proceedings.

The Lessee shall at no time during or at the end of the lease have the right to purchase the LO.

9. INVOICES AND PAYMENT METHODS

GRENKE places single invoices for the amount due according to the contract in the customer portal, where they are available for download. If the Lessee requests a hardcopy, GRENKE then charges AED 32.00 plus VAT for each invoice so sent.

If the customer pays by postdated cheques, the Lessee hands over to GRENKE postdated cheques for each calendar quarter, respectively for each month, if monthly payment has been agreed-upon covering the basic lease term. In the event, a cheque will not be honored by the bank for whatsoever reason, the Lessee shall pay to GRENKE for each not honored cheque a service fee of 5 % of the cheque amount, but not less than AED 1,000.

On the contrary, if the customer pays by bank transfer and customer is in default with a payment, customer shall pay a delay penalty of AED 500 for each 30 days period of delay.

Amounts in this agreement are exclusive of VAT or the avoidance of doubt. The lessee agrees to pay VAT as applied in the UAE.

10. AGREEMENTS WITH THIRD PARTIES

Any amendments or supplements to this contract may only be agreed directly between the Lessor and the Lessee. Agreements concluded between the Lessee and the Supplier do not give rise to any rights and obligations on the part of the Lessor.

11. GOVERNING LAW AND JURISDICTION

The Lease Contract and this General Terms and Conditional of Lease shall be governed by and construed in accordance with the laws of the United Arab Emirates

Any dispute, difference, controversy or claim arising out of or in connection with this Lease (and the General Terms and Conditions of Lease), including (but not limited to) any question regarding its existence, validity, interpretation, performance, discharge and applicable remedies, shall be subject to the exclusive jurisdiction of the courts of the Dubai International Financial Center.

12. SERVICE AND COMMUNICATION

It is expressly agreed by the Lessor and Lessee that any document may be served by electronic means including electronic mail ("E-mail") as methods of service. Parties agree that they are willing to accept service by the email provided in this contract.

GENERAL TERMS AND CONDITIONS
OF THE FRAMEWORK PROPERTY PROTECTION OF GRENKE COMPANIES

A. GENERAL SECTION

  1. 1. As the owner of the object, GRENKE has concluded a Framework Property Protection policy with a protection company that is duly registered and licensed. The following conditions are deemed to be agreed upon and accepted as soon as the object that has been handed over to the client for use is included in this Framework Property Protection.
  2. 2. Protection benefits in general are intended to cover the costs of restoring an object and providing an equivalent replacement for the object in the event of damage, based on the object's value at the time when the loss occurred.
  3. 3. The protection generally grants subsidiary protection, i. e. it grants protection only when protection coverage is not provided by any other source.
  4. 4. The excess payable by the client will be AED 600,00 per loss event.

B. PROTECTED LOSS / DAMAGE AND RISKS, DISCLAIMER

  1. 1. The protection provider will pay compensation when protected objects are damaged or destroyed due to unforeseen events and when the protected objects are lost due to theft, burglary or looting.
  2. Damage is unforeseen if neither the policyholder nor his representatives foresaw the same in due time or would have been able to foresee the same with the specialist knowledge necessary for the work carried out in the business; in this respect, only gross negligence is detrimental, and this will entitle the protection provider to curtail its payment proportionate to the severity of the fault by the policyholder.
  3. Compensation will be paid when objects are damaged or destroyed (material damage) especially as a result of the following cases:

    a) handling or operating errors, lack of skill, negligence;

    b) excess voltage, electromagnetic induction, short circuiting;

    c) fire, stroke of lightning, explosion or implosion (including damage caused by water for fire fighting, demolition, clean-up work or loss of property in the course of these events);

    d) water, humidity, flooding;

    e) wilful intent by a third party, sabotage, vandalism;

    f) force majeure;

    g) faulty design, faults in the material, faulty workmanship.

  4. 2. For electronic components (units) that are part of the protected objects, compensation will be paid only if it is proven that an protected risk has externally affected the replacement unit (in case of repair this is usually the unit to be replaced) or has affected the protected objects as a whole. If proof cannot be brought forward, the predominant probability is sufficient that the damage is attributable to an external protected risk. Consequential damage on further replacement units will be covered.
  5. 3. If not otherwise agreed, the protection provider will pay compensation for tubes, (e. g. picture tubes, high-frequency tubes, laser tubes) and photo conductors (e. g. selenium cylinders) only in cases when the damage was caused by one of the following items:

    a) fire, stroke of lightning, explosion and only to the extent that these risks can be covered by fire protection;

    b) burglary, robbery, vandalism and only to the extent of coverage by a burglary and robbery protection;

    c) burst pipes and only to the extent that this risk can be covered by domestic water damage protection.

  6. Items 4 and 5 remain unaffected
  7. 4. Irrespective of possible concurrent causes, the protection provider will not pay compensation for damage that was brought about in any of the following manners:

    a) by the client's wilful intent;

    b) by acts of war of any type or civil insurrection;

    c) by nuclear energy;

    d) as a result of wear due to normal or operational wear or abnormal operational wear or deterioration; however, compensation will be paid for consequential damage in further replacement units. Item 2 remains unaffected.

  8. 5. If proof cannot be delivered for one of these causes in accordance to 4b) to d), the predominant probability that the damage is the result of one of these causes is sufficient.

C. PROTECTED OBJECTS / UNPROTECTED OBJECTS

  1. 1. Protection coverage exists for the following objects that have been designated in the agreement for use:

    a) facilities and equipment of information technology, communication technology, medical technology;

    b) other electrotechnical or electronic facilities and equipment;

    c) machinery and other technical facilities and equipment of domestic engineering, bulk material handling technology and transport technology;

    d) office furnishings and equipment;

    e) software and related accessories.

  2. 2. If not agreed otherwise, protection coverage includes data (machine readable information) only if they are necessary for the basic functions of the protected objects (system program data from operating systems or other data of equal status)
  3. 3. Objects in motor vehicles
    Due to the high risk of theft, objects in motor vehicles are only protected if they are incorporated in the vehicle interior or have been inconspicuously placed in the closed and if possible locked glove compartment or in the boot of the vehicle so that they are not visible and if the vehicle has been properly locked before leaving it.
  4. 4. Exempt from protection coverage are such items as follows:

    a) auxiliary and operating supplies, consumable supplies and work equipment, e. g. developing liquids, reagents, toners, cooling and extinguishing agents, ink ribbons, films, picture and sound carriers, foil combinations, prepared paper, type face carriers, ratchet discs, pipettes, replaceable cuvettes, reagent tubes;

    b) tools of any sort, e. g. drills, milling cutters;

    c) other parts that from experience have to be replaced during the life cycle of the protected objects, e. g. fuses, light sources, batteries (both rechargeable and non-rechargeable), accumulators, filter compounds and cartridges;

    d) maintenance (Expenditure that is part of regular maintenance is not the object of the protection. In particular, this expenditure refers to the exchange of structural elements, assemblies and components, provided the damage has not been caused by an protected event that externally affected the protected objects and can be verified.)

    Object of maintenance within the meaning of this stipulation are the following services:
    :::safety check;
    :::preventive maintenance;
    :::removal of defects due to ageing;
    :::repair of damage that is the result of normal operation and has not been brought by an external cause.

D. PROTECTION LOCATION

For appropriately employed objects, the client's location that is quoted in the agreement for use is the protection location. Apart from that the proctection location is worldwide.

E. THE EVENT OF DAMAGE / OBLIGATIONS

  1. 1. In the event of damage the client is obliged to immediately notify GRENKE by means of a notification of loss as soon as he or she has gained knowledge of the damage. In order to make notification of damage, the damage claim form is to be used which can be requested from GRENKE at any time.
  2. 2. The notification of loss must include the following information:

    a) name and address of the client

    b) contract number

    c) location and time of damage occurrence

    d) detailed description of the event of damage

    e) number of the damaged objects

    f) detailed description of each damaged object

    g) type of damage

    h) for partial damage: the cost estimate for the repair of the defective object;

    i) for total loss: the designation "total loss";

    j) for damage caused by third-party intent (e. g. theft) and damage caused by fire: in this case the client must immediately file a charge and specify the investigating authorities and their file number to GRENKE.

  3. 3. Storage
    The damaged objects must be stored and the damage scene must remain unaltered until the protection provider or GRENKE inspects the damage or expressly foregoes the inspection or has settled the damage.
  4. 4. Delayed notification of loss
    If the client does not report the damage immediately after he or she has gained knowledge of it in the form required in item E.1 and 2 and if GRENKE does otherwise not receive notification of the protected event, the protection benefits will not be paid.

F. PAYMENT OF PROTECTION COSTS / TERMINATION BY GRENKE / EXEMPTION FROM LIABILITY

  1. 1. The client's obligation to bear the protection costs and the due date for payment are determined by the provisions in the agreement for use and the acceptance letter by GRENKE. The client is entitled to insure himself with an protection provider of his choice in compliance with the provisions in the agreement for use.
  2. 2. If the first protection costs have not been paid yet when the protected event occurs, the client will not be entitled to protection benefits.
  3. 3. If the protection costs are not paid on time, GRENKE can set a payment deadline of two weeks. After this period has expired, GRENKE can terminate the acceptance of the object in its Framework Property Protection without notice, provided a termination threat had been pronounced at the time when the deadline was communicated to the client.

    If an protected event occurs after the agreement for use was terminated by GRENKE, no entitlement to protection benefits exists.

  4. 4. Irrespective of the above-mentioned provisions, GRENKE is at all times entitled to request the conclusion of the client's own protection in accordance with the agreement for use.
  5. G. FINAL PROVISIONS

    1. 1. According to the agreement for use, the client who insures the objects himself is obliged to obtain from the protection provider a confirmation of protection coverage for leasing companies in favour of GRENKE. As long as the client has not yet submitted this evidence of protection, GRENKE is entitled, but not obliged, to include the object in this Framework Property Protection.
    2. 2. There is no protection certificate issued for individual clients with regard to the objects that are included in this Framework Property Protection.
    3. 3. The occurrence of an event of damage does not release the client from obligations that arise from the agreement for use.
    4. 4. The settlement of a damage claim occurs in compliance with the provisions set out in the contract.
    5. 5. No verbal ancillary agreements have been made.