RENTAL

The Equipment is rented by the Customer at the prices specified in the Rental Contract. If such prices are not so specified, the rent will be the prices set forth in Flashpoint's most recent rental price list. The Customer's obligation to pay rent is unconditional and must be paid in full. Rent is payable by the Customer in the manner specified by Flashpoint in each Rental Contract.

TERM

The term of rental is set forth in each Rental Contract. The Customer agrees to return the Equipment on the return date and time specified in the Rental Contract. Any extension of the term must be agreed to by Flashpoint in writing. Unless otherwise agreed to by Flashpoint, rent shall be paid on any Equipment not returned at the aforesaid return time at the daily rates for such Equipment specified in Flashpoint's most recent rental price list.

USE

The Customer shall operate, use and preserve the Equipment for the purpose set forth in the Rental Contract. The Equipment shall be used in the manner specified by the manufacturers of the Equipment and in accordance with all applicable law. The Equipment must not be used in any manner which would cause the suspension, cancellation, impairment or nullity of any insurance or warranty in respect of the Equipment. The Equipment shall at all times remain under the immediate control, supervision and direction of the Customer.

POSSESSION AND CONTROL

The Equipment shall be deemed to be in the possession and control of the Customer (“Possession and Control”) from the time the Customer accepts delivery of the Equipment at Flashpoint's location until the Customer returns the Equipment to Flashpoint.

VEHICLES

All drivers of Flashpoint vehicles or vehicles rented to the Customer must be approved in writing by Flashpoint.

DELIVERY

RISK OF LOSS AND CARE

The Customer agrees to properly protect, safeguard and operate all Equipment while it is in its Possession and Control and to return the Equipment to Flashpoint at the termination or expiry of the Rental Contract at Flashpoint's location in as good condition as received (normal wear and tear excepted). While the Equipment is in the Customer's Possession and Control, the Customer shall maintain the Equipment in good condition and working order and shall bear and be responsible for all risk and liability for any injury or damage to or theft, loss or destruction of the Equipment from any source or cause whatsoever. If any Equipment is lost, stolen or destroyed, the Customer shall pay Flashpoint the full replacement cost of the Equipment on demand. If any Equipment is damaged, the Customer will pay Flashpoint, on demand, (a) the cost of repairing the Equipment so that it is in good working order and condition, or (b) if, in Flashpoint's reasonable opinion, the Equipment cannot be properly repaired, the full replacement cost of such Equipment. The Customer further agrees to compensate Flashpoint for its loss of revenue from lost rent calculated at the rental rate under the Rental Contract to the expiry of the term and thereafter at the daily rental set for the in Flashpoint's most recent rental price list for the period until the Equipment is repaired or replaced.

The Customer shall immediately notify Flashpoint if any Equipment becomes damaged, lost, stolen or destroyed. In no case shall the Customer repair any Equipment without Flashpoint's written authorization. Any maintenance or authorized repairs shall be performed only by technicians who are familiar with and have the technical competence to perform such services.

INSURANCE

The Customer will at all times during the rental period maintain “All Risk” Insurance in full force and effect satisfactory to Flashpoint covering all Equipment (including vehicles), at full replacement cost and for loss of use (rent) of the Equipment. Insurance coverage shall begin from the time the Customer accepts delivery until the time the Equipment is returned to Flashpoint's location in good working order. Any lapse or cancellation of the required insurance will be a breach of this Agreement and will entitle Flashpoint to immediately repossess the Equipment.

The Customer's insurance must name Flashpoint as an additional insured and first loss payee in a manner satisfactory to Flashpoint. The Customer's insurance must be primary and not contributory to any policy maintained by Flashpoint.

IDENTIFICATION

The Customer agrees not to remove any barcode label, tag or nameplate affixed to the Equipment.

WARRANTIES

Flashpoint represents that the Equipment is in good working order and that Flashpoint has the right to rent the Equipment to the Customer. Flashpoint makes no other representations or warranties to the Customer whatsoever, whether expressed or implied, including, without limitation, any representations as to fitness for use or suitability for any purpose or design, condition, performance, functioning or material or workmanship. Flashpoint is not responsible for end results achieved by the Equipment, or for any accidents arising from the use of the Equipment.

INDEMNITY AND LIABILITIES

Flashpoint shall not be liable for and the Customer will indemnify Flashpoint and its directors, officers, agents, representatives and employees from and against any liabilities, claims, demands, actions, losses, expenses, judgments or any other damages (including, without limitation, for personal injury or property damage or any indirect, special, consequential or punitive damages), directly or indirectly arising out of or resulting from the Customer's use, possession or maintenance of the Equipment whether during or after the term of any Rental Contract.

The Customer agrees that the liability of Flashpoint, if any, arising out of any Rental Contract, including breach of any representation and warranty, is limited to monetary damages not to exceed the total rent payable under such Rental Contract. In no circumstances will Flashpoint be liable for any other damages or costs, including indirect or consequential damages, loss of profits or punitive damages. In no circumstances will the Customer be entitled to any injunctive relief.

ASSIGNMENT AND SUBLETTING

The Customer may not, without obtaining the prior written consent of Flashpoint (which consent may be arbitrarily withheld by Flashpoint), assign, transfer, pledge or hypothecate this Agreement or any interest herein or the Equipment or any part thereof or sublet the Equipment or permit the use thereof by any person other than the Customer or employees of the Customer.

GENERAL CONTRACT TERMS

1. The Customer will pay all reasonable legal fees and expenses incurred by Flashpoint in protecting its rights under this Agreement.
2. Any monies which are not paid by the Customer when due shall bear interest calculated daily from the invoice date to the date of payment at the rate of 2% per month.
3. All rights and remedies of Flashpoint hereunder are cumulative and are in addition to any other rights and remedies of Flashpoint and may be exercised in any order, sequence or combination.
4. No terms or conditions of this Agreement may be waived, amended or varied except in writing signed by both parties.
5. Forbearance or indulgence by Flashpoint of any term or condition of this Agreement as to a Rental Contract will not constitute a waiver of such term or condition to be performed by the Customer.
6. Time is in all respect of the essence thereof.
7. This Agreement enures to the benefit of, and is binding upon, the parties hereto, their respective heirs, executors, administrators, successors and assigns.
8. This Agreement and the Rental Contract shall be construed in accordance with the laws of the Province of British Columbia.