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I HAVE READ AND FULLY UNDERSTAND THIS AGREEMENT. I FREELY AND VOLUNTARILY AGREE TO BE BOUND BY ITS TERMS AND CONDITIONS.
EQUIPMENT LOAN AGREEMENT This Equipment Loan Agreement (“Agreement”) is made between Koala Medical, LLC ("Loaner") located at 20th Ave NE, Suite 166, Bothell, WA 98021 and electronic customer (“Borrower”).
LOAN OF EQUIPMENT. During the term of this Agreement, Koala Medical shall loan products as listed below (“Loaned Equipment”) to Borrower on a no-charge basis. Borrower understands that the Loaned Equipment is provided "as-is" and without warranty of any kind. Loaned Equipment.
TERMS OF AGREEMENT; DELIVER AND RETURN OF LOANED EQUIPMENT. The period of the loan is (2) weeks from the date of shipment to Borrower ("Loan Period"). Borrower will be notified via email of return date. This date can be negotiable if agreed upon by both parties and defined in written documentation. Borrower agrees to use Loaned Equipment in a responsible manner and in accordance with instructions given. At the conclusion of the Loan Period, Borrower, at its own expense, shall return Loaned Equipment in its original packaging together with all documentation and material relating to Loan Equipment. Loaned equipment returned to must be in the same working condition and physical condition as it was at the time it was delivered to the borrower. If Borrower does not return Loan Equipment to Koala Medical within five (5) days of the termination of Loan Period and has not requested an extension of Loan Period, THIS AGREEMENT SHALL CONSTITUTE A BINDING ORDER TO PURCHASE LOANED EQUIPMENT, and Borrower shall accept and pay an invoice in the value of equipment borrowed.
RESPONSIBILITIES. Borrower acknowledges that Loaned Equipment is governed by U.S. laws and regulations on exports, and Borrower agrees to comply with all such laws and regulations. Borrower agrees to exercise a reasonable degree of care in safeguarding the Loaned Equipment during the Loan Period. Borrower agrees to use the Loaned Equipment in compliance with all applicable laws and regulations and in accordance with FDA approvals. Borrower agrees to hold harmless and indemnify Koala Medical against any claims arising from the use of the Loaned Equipment.
GENERAL. This Agreement shall be construed and performance thereof shall be determined according to the laws of the State of Washington. This Agreement constitutes the entire agreement of the parties and supersedes any prior oral or written agreements. This Agreement may be amended by mutual written consent of the parties.
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