TERMS & CONDITIONS OF THE LOVE SPRINGS LIMITED
CONSUMER LEASE
  1. LEASE.  These terms and conditions outline the terms under which the water dispenser and filtration equipment and any additional equipment referred to in the lease schedule (“Equipment”) will be rented to you (“you” or the “Lessee”). Should you have queries regarding your lease, you should contact Love Springs Limited (“LSL”) on 0508 425 683.
  2. APPLICATION OF THE CREDIT CONTRACTS AND CONSUMER FINANCE ACT 2003. This lease is a consumer lease for the purposes of the Credit Contracts and Consumer Finance Act 2003.
  3. ACKNOWLEDGEMENT.  Upon execution of this lease, the Lessee acknowledges and agrees that:
    1. LSL or its assignee shall retain title in the Equipment at all times;
    2. to the extent permitted by law, and acknowledging the application of the Consumer Guarantees Act 1993, neither LSL nor any other person provides any warranty with respect to the Equipment except as set out in clause 9.
  4. RENTAL TERM.  Subject to clause 14, LSL and the Lessee agree that this lease is intended to be for a minimum term of twenty four (24) months commencing on the date of the lease (“the Initial Term”).  After the Initial Term expires, provided there are no unpaid monies under this lease which have been outstanding for more than a period of 40 days (such fact to be determined by LSL in its sole discretion), the Lessee is entitled to terminate this lease or extend the lease.  The Lessee shall make the election within fourteen (14) days of expiry of the Initial Term, providing written notice to LSL at the address set out in the lease that the Lessee either wishes to extend or terminate the lease.
  5. ONGOING RENTAL.  In the event that the Lessee does not elect to terminate the lease upon expiry of the Initial Term, the Lessee will be deemed to have exercised its right to extend the term of the lease. If the lessee elects to extend the term of the lease, LSL and the Lessee agree that the Initial Term of this lease shall be extended from the expiry of the Initial Term and this lease will continue to govern the relationship of the parties. The lease will continue until the Lessee gives three months written notice to LSL (as detailed above in the Conditions of Termination of Lease after the Initial Term section of the Specific Terms). The Lessee will receive from LSL a new cooler system and bottle free of charge (“New Equipment”) when necessary after reasonable wear and tear for the duration of the lease after the Initial Term and this lease will apply to such New Equipment as if the original Equipment had not been replaced. 
  6. EXTENSION OF TERM OF LEASE. If the Lessee has failed to pay one or more rental payments, the Lessee agrees that LSL may extend the term of the lease at LSL’s discretion. The term of the lease will be extended by a period (to be determined by LSL) which allows for the total amount of missed rental payments, together with any default fees incurred and unpaid, to be paid in the amounts and at the payment frequency elected by the Lessee under the Initial Term Rental Payments, from the date that is (or would be) the next rental payment date in accordance with the debit frequency elected under the Initial Term Rental Payments, or on terms otherwise acceptable to LSL and advised to the Lessee. LSL reserves its right to repossess the Equipment on termination of the contract notwithstanding any extension of the term of the lease in accordance with this clause. 
  7. INSTALLATION OF THE EQUIPMENT.  The Equipment will be installed at the Lessee’s address specified in the Specific Terms (“Premises”). The Lessee is responsible for providing access to the Premises for the Equipment to be installed. The Lessee shall not remove the Equipment from the Premises unless otherwise agreed by LSL. Within seven (7) days of a request by LSL, the Lessee must notify LSL of the location of the Equipment.
  8. UNDISCLOSED CHANGE OF ADDRESS DETAILS. Should the Lessee move from the Premises prior to installation of the Equipment, the Lessee must advise LSL of their new address details. In the event that the Lessee does not notify LSL of their change of address, LSL will take all reasonable steps to determine the new location of the Lessee so that the Equipment may be installed. The Lessee may be required to reimburse LSL for reasonable costs incurred in connection with LSL’s attempt to locate the Lessee (as detailed above in the Fees and Charges section of the Specific Terms).
  9. REPAIR OF EQUIPMENT AND UPKEEP.  Subject to clause 10, in the event of a defect in the Equipment or New Equipment, LSL will repair or replace the Equipment, New Equipment, or part of the Equipment or New Equipment at no cost to the Lessee. LSL will also provide one water filter cartridge each year for the duration of the lease, at no cost to the Lessee, providing the Lessee is not in breach of any condition of this lease.
  10. RENTAL, SERVICE AND REPAIRS.  The Lessee agrees to maintain the Equipment in an hygienic condition and to exercise all due care with respect to the use and maintenance of the Equipment. The Lessee acknowledges that it is responsible for the cost of repair or replacement as a result of more than fair wear and tear, alteration or tampering with parts of the Equipment, misuse, negligence, fire, theft, loss or damage. If in the opinion of the service agent, required repairs are not due to a faulty part or normal wear and tear, the cost of repairs (plus a service fee) will be payable by the Lessee on the terms notified by LSL to the Lessee at the time that such money becomes payable. The Lessee must, at their own cost, insure the Equipment (in the name of the Lessee) against loss due to fire, theft or damage. The Lessee will forward the insurance policy and premium receipts to LSL, if LSL requires, and will duly and punctually pay all premiums necessary for effecting and keeping on foot such insurance. Any filters required by the Lessee in addition to the one filter provided each year will be charged at a retail price plus GST, plus freight. Any alterations or additions to the Equipment made by LSL shall be deemed to form part of the Equipment.
  11. EXCLUSIVE USAGE.  The Lessee agrees that the Equipment shall be used solely in accordance with the directions of LSL or its assignees. Subject to clause 9 and clause 10, and the application of the Consumer Guarantees Act 1993, the Lessee assumes all risk and liability in relation to the Equipment, including use, maintenance and repair of the Equipment.
  12. LESSEE’S WARRANTIES.  The Lessee warrants that:
    1. they have the full legal capacity and power to enter into and perform its obligations under this lease;
    2. this lease is valid and binding on the Lessee;
    3. they will keep the Equipment in good order and repair;
    4. they will notify LSL immediately following any loss of or damage to the Equipment howsoever caused;
    5. they will not sell, hire out, or lose possession of the Equipment;
    6. all information provided to LSL in relation to this lease is accurate and complete;
    7. they will keep LSL informed as to any changes to information provided to LSL during the term of this lease, including any change of address of the Lessee;
    8. they are solvent and able to pay their debts as they fall due and have not been made bankrupt, has not made any compromise or arrangement with their creditors and have not made or proposed an application to summon a meeting of any of their creditors.
  13. TERMINATION OF LEASE BY LSL.  LSL may terminate this lease if an “Event of Default” occurs. Following an Event of Default, the Lessee must pay to LSL the amounts detailed in either the “Conditions of Termination During the Initial Term” section or the “Conditions of Termination After the Initial Term” section of the Specific Terms, together with any other amounts payable by the Lessee in connection with the Event of Default. For the purposes of this lease, an Event of Default will occur if:
    1. the Lessee does not comply with any obligation under this lease and if that non-compliance can be remedied, such non-compliance is not rectified to LSL’s satisfaction within 15 days of LSL giving the Lessee notice to do so; or
    2. the Lessee is adjudicated bankrupt or makes application under the No Asset Procedures of the Insolvency Act 2006; or
    3. any distress or execution is threatened or levied against the Equipment; or
    4. LSL reasonably believes the Equipment is at risk;or
    5. the Equipment is lawfully seized or impounded 
  14. TERMINATION OF LEASE BY LESSEE.  The Lessee may terminate this lease before the expiry of the Initial Term by paying the amount detailed in the “Conditions of Termination During the Initial Term” section of the Specific Terms, or if the lease has continued after the Initial Term, by giving three months written notice as detailed in the “Conditions of Termination After the Initial Term” section of the Specific Terms to LSL. This amount is intended to represent a genuine pre-estimate of LSL’s loss resulting from the termination of this lease.
  15. LSL MAY INSPECT EQUIPMENT. The Lessee allows LSL to inspect the Equipment at all reasonable times.
  16. REPOSSESSION OF EQUIPMENT.  To the extent permissible at law, LSL may take possession of the Equipment if:
    1. LSL was induced by fraud on the part of the Lessee to enter into this lease; or
    2. the Lessee has attempted to assign or dispose of the Equipment; or
    3. the Lessee, contrary to a term of this lease, has:
      1. made default in any other obligation under this lease which is likely to directly affect the value of the Equipment; or
      2. returned the Equipment to LSL; or
      3. has given notice in writing to LSL that the Lessee cannot continue to observe the obligations imposed by this lease; or
    4. an Event of Default has occurred.

    The Lessee grants LSL a right to enter onto the Premises or any other location on which the Equipment is kept and installed on reasonable notice to the Lessee for the purpose of taking possession of the Equipment pursuant to this clause 14.

  17. LIABILITY.  To the extent permissible at law, and acknowledging the application of the Consumer Guarantees Act 1993, LSL hereby excludes any liability to the Lessee for any injury, damage or loss of any kind whatsoever (including without limitation any liability for direct, indirect, special or consequential loss or damage), sustained by the Lessee and/or any other person, or for any costs, charges or expenses incurred by the Lessee arising from or in connection with this lease and/or the Equipment and services provided by LSL and/or any act or omission of LSL.
  18. INDEMNITY.  Except as otherwise provided for in this lease, the Lessee hereby agrees to indemnify LSL for all costs and expenses arising out of any breach of this lease by the Lessee. The jurisdiction for any legal action shall be New Zealand.
  19. ASSIGNMENT.  The Lessee may, at the sole discretion of, and only with the consent of LSL, assign their rights and obligations under this lease to another person.  If LSL consents to assignment of this lease a fee in respect of the assignment shall apply (as detailed above in the Fees and Charges section of the Specific Terms). The Lessee acknowledges that LSL may transfer its rights under this lease, and intends to immediately assign its rights under this lease and its title in the Equipment and in the goods leased to Tiny Terms Limited and the Lessee agrees that this lease shall inure for the benefit of such assignee.
  20. WAIVER BY LSL OF RIGHT TO ENFORCE LEASE.  If the Lessee requests cancellation before the Equipment has been delivered, LSL may, in its sole discretion, agree to waive the Lessee’s remaining balance of Rental Payment obligations following payment of the pre – delivery cancellation fee (as detailed above in the Fees and Charges section of the Specific Terms). Further charges may also be applicable in accordance with clause 8 of this lease.
  21. DEFERRING OR STOPPING A PAYMENT. Should the Lessee wish to defer a Rental Payment to another date the Lessee must contact LSL before the date of that payment to request the deferment. To the extent provided in law, deferments are entirely at the discretion of LSL and will depend on the length of deferment, the current state of the Lessee’s account and the Lessee’s past history.
  22. ALTERING THE SCHEDULE OF PAYMENTS.  Should the Lessee wish to alter the Rental Payment frequency or payment date, the lessee must contact LSL.  Any change the Lessee requests will be granted at the full discretion of LSL.  Any changes made will not affect the total amount of Rental Payments the Lessee would otherwise have paid over the Initial Term or after the Initial Term (if applicable).
  23. DISPUTES.  If the Lessee disputes any debit payment, the Lessee must notify LSL immediately and no later than one month following the date of the debit. LSL will respond to the Lessee within 7 working days of being notified of the dispute and will immediately refund the amount of the debit if LSL is not able to substantiate the reason for it. If the Lessee is not happy with the response from LSL, the Lessee may contact its bank or financial institution.
  24. NON-WORKING DAY.  When the day to debit the Rental Payments falls on a weekend or public holiday (as observed by the New Zealand banking industry) the debit will be initiated on the previous working day.
  25. DISHONORED PAYMENTS.  It is the Lessee’s responsibility to ensure that on the due date for payment, clear funds are available in the Lessee’s nominated account to meet the Rental Payments.  Should the Rental Payment be dishonored, LSL or its assignee will debit an additional fee with the next payment (as detailed above in the Default Fees section of the Specific Terms) and may, if it has not received instructions to the contrary from the Lessee, debit both the current due Rental Payment and the new overdue payment(s) on the same day. Should LSL be unable to obtain payment of overdue money after making every reasonable attempt then the debt may be referred to a credit reporting/debt collection agency.
  26. LESSEE’S OTHER RESPONSIBILITIES.  In addition to these already mentioned, the Lessee is responsible for ensuring its nominated account is able to accept direct debits. If it is not, it is the Lessee’s responsibility to provide LSL with a new account number.