Monthly License Fee Agreement
This Online Agreement and Disclosure (the "Agreement") of MED (Medical Equipment Direct, Inc.) governs your (Customer) use of the Newman ABI-QT system. By subscribing to the service or using the service, you agree that you have complied with the terms of the licensing agreement, and that you will be bound by the terms of this Agreement. Please read this Agreement carefully and keep a copy for your records.
THIS EQUIPMENT LICENSE AGREEMENT is made and effective on the day that the ABI-QT is shipped from our facility.
Licensing Agreement. MED hereby provides Customer with the ABI-QT under a monthly license fee, and Customer hereby agrees to pay monthly license fee to MED - billed as Medical Equipment Direct Inc.
Term. Is month to month. Customer may cancel any time before the next month's billing cycle date.
License Fee. The monthly license fee for the Newman Medical ABI-QT shall be paid in advance in installments of $290.00 dollars ($) each month, to begin on the day of shipment, and on the same day of each succeeding month throughout the term. Fees are not prorated. Payment shall be made through automatic credit card payment, paid to Medical Equipment Direct at 5350 Vivian St Suite C Arvada CO 80002.
Use. Customer shall use the Equipment in a safe and appropriate manner and shall comply with and conform to all national, state, municipal, and other laws, ordinances and regulations in any way relating to the possession, use or maintenance of the Equipment.
During the licensing period, MED warrants that the ABI-QT will perform to standard specifications. MED will replace any unit that fails during this period.
Medical Equipment Direct DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
Training Coverage. MED will provide virtual education and product training on the ABI-QT.
Loss and Damage. If the ABI-QT is damaged by misuse or neglect, the customer assumes full liability for repair costs. If the ABI-QT System is lost, stolen or destroyed, the customer will be charged the full purchase price of the unit.
Return. Upon the expiration or termination of this Licensing Agreement, Customer shall return the Equipment to MED in good repair, condition and working order, ordinary wear and tear resulting from proper use thereof excepted.
Indemnity. Customer shall indemnify Medical Equipment Direct against, and hold them harmless from, any and all claims, actions, suits, proceedings, costs, expenses, damages and liabilities, including reasonable attorney's fees and costs, arising out of, connected with, or resulting from Customer's use of the Equipment, including without limitation the manufacture, selection, delivery, possession, use, operation, or return of the Equipment.
Bankruptcy. Neither this Licensing Agreement nor any interest therein is assignable or transferable by operation of law. If any proceeding under the Bankruptcy Act, as amended, is commenced by or against the Customer, or if the Customer is adjudged insolvent, or if Customer makes any assignment for the benefit of his creditors, or if a writ of attachment or execution is levied on the Equipment and is not released or satisfied within ten (10) days thereafter, or if a receiver is appointed in any proceeding or action to which the Customer is a party with authority to take possession or control of the Equipment, MED shall have and may exercise the option to, without notice, immediately terminate this agreement. The license agreement shall not be treated as an asset of Customer after the exercise of said option.
Ownership. The Equipment is, and shall at all times be and remain, the sole and exclusive property of MED; and the Customer shall have no right, title or interest therein or thereto except as expressly set forth in this agreement.
Entire Agreement. This instrument constitutes the entire agreement between the parties on the subject matter hereof and it shall not be amended, altered or changed except by a further writing signed by the parties hereto.
Governing Law. This license agreement shall be construed and enforced according to laws of the State of Colorado.
IN WITNESS WHEREOF, the parties hereto have executed this license agreement as of the day and year of initial order.