British Columbia Vehicle Lease Agreement Sample - Free Download | Page 3
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become otherwise inoperative, to replace the same with either parts which are approved by the
manufacturer of the equipment or such substitute parts as BC Transit may from to time permit.
12. INSPECTION BC Transit shall have the right to inspect the equipment, without prior notice, at
all reasonable times during the term of this Lease Agreement.
13. ALTERATION The Operating Company shall not alter or add or allow any other party to alter
or add to the equipment in any way without the prior written approval of BC Transit. Any alterations, or
additions to the equipment which are approved by BC Transit shall become and remain the property of
BC Transit. The Operating Company shall affix on the equipment, any labels or insignias supplied by
BC Transit. The Operating Company shall not permit any advertising to be posted on the exterior or the
interior of the equipment, save and except as provided for in the Annual Operating Agreement.
14. RECORDS The Operating Company shall keep for each item of equipment and deliver to BC
Transit as specified or upon request the following records:
a) Any record as required by the Annual Operating Agreement to be provided by the Operating
b) Vehicle Daily Report Card (Form M098).
c) Preventative Maintenance Inspection Guide (Form M299).
d) Record of Preventive Maintenance Bus Inspections (Form M300).
e) Road Call Analysis (Form M301).
f) Monthly Bus Fuel Consumption Report (Form M307).
g) Unit Change Record (Form M310).
h) Accident/Incident Report (Form M318).
15. MOTOR VEHICLE INSPECTION The Operating Company shall be responsible for ensuring
that the equipment is maintained in compliance with the British Columbia Motor Vehicle Act and
Regulations, including the Commercial Vehicle Inspection Program. The Operating Company shall be
responsible for ensuring the equipment is submitted for inspections pursuant to the provisions of Motor
Vehicle Act, if so required by said provisions.
16. LOSS OR DAMAGE The Operating Company assumes and shall bear the entire risk of loss or
damage to the equipment. No loss or damage to the equipment or any part thereof shall affect or impair
any of the obligations of the Operating Company hereunder, and this Lease Agreement shall continue in
full force and effect notwithstanding such loss or damage to the equipment. The Operating Company
shall insure the equipment according to the laws in force and effect in the Province of British Columbia
and in accordance with the provisions of the Annual Operating Agreement, and such provisions shall be
incorporated into the terms and conditions of this Lease Agreement. The Operating Company shall
punctually pay all insurance premiums when due in respect of any policies of insurance required to be
purchased by it pursuant to the Annual Operating Agreement and the Operating Company shall provide
BC Transit with copies of certificates of such insurance policies. In the event of loss or damage of any
kind whatsoever to the equipment, the Operating Company shall forthwith comply with the reporting
procedures in respect of such loss or damage as established by BC Transit. BC Transit at its sole
discretion may either replace the lost or damaged equipment or alternatively direct the Operating