In lieu of Physical Damage Coverage, you may elect to select our Loss Damage Waiver (LDW) program (available on Trailers only).
Interest in our LDW program is NOT your election to select the program. If you choose to select the LDW program, an addendum will be present for your signature to confirm your election into the program.
Milestone shall determine, in its sole discretion (i) whether to accept Company as a customer, (ii) whether a guarantor shall be required, if any, (the “Guarantor”), and (ii) the maximum number of units of equipment which may be rented or leased by Company under Rental/Lease Agreement, as such term is defined below. Company understands that Milestone may retain this Application whether or not it is approved.
Upon such determination, in order to rent/lease equipment from Milestone, (i) Company shall enter into an equipment rental and/or lease agreement with Milestone for the possession, use, operation but not ownership of, the equipment (in either event, the “Rental/Lease Agreement(s)”) and (ii) Guarantor shall enter into a guaranty agreement for the benefit of Milestone which Guarantor guaranties the payment and performance of Company under the Rental/Lease Agreement(s) (the “Guaranty”).
The undersigned is/are the [legal owner(s) and/or authorized officer] of Company and by my/our signature(s) below, I/we hereby execute this Equipment Leasing Application (this “Application”) for myself/ourselves and on behalf of Company, and further:
⦁ Certifies that all of the foregoing information and other information provided to Milestone in furtherance of this Application is true and correct (under the penalties of perjury) and shall remain true and correct on the date of the Rental/Lease Agreement(s) and any Guaranty. To the extent any of the information is not correct or shall become untrue, including but not limited to changes in ownership [and changes in haul sources], Company and/or the legal owner(s) shall notify Milestone immediately of such misstatement(s) and/or change(s) in writing. Failure to provide such update may result in the abandonment of this Application without penalty or premium to Milestone or additional credit review of the Company, in each case, at Milestone’s sole discretion.
⦁ Milestone will utilize any of its third-party vendors to whom Milestone may rightfully refer this Application to investigate and review Company’s creditworthiness (collectively, the “Reviewer Parties”), as of the date hereof and through the term of any Rental/Lease Agreement, to (i) request and require a credit report with respect to Company, and/or Guarantor(s) (if any), and each of their respective credit history(ies) (ii) contact Company’s creditors, and (iii) request and obtain insurance information and evidence of insurance from Company’s insurance company(ies).
⦁ Authorizes the Reviewer Parties to share this Application and Company’s related information in Milestone’s possession in connection herewith with any affiliates of Milestone or any potential counterparties engaged in any discussion(s) contemplating the assignment, transfer, sale or any other disposition of any Rental/Lease Agreement which may arise from this Application.
⦁ Authorizes the Reviewer Parties to answer any and all third-party questions related to Milestone’s credit experience with Company.
This Application may be executed and delivered by electronic (facsimile, email, .pdf or otherwise) transmission shall constitute effective execution and delivery hereof and all purposes and signatures hereto transmitted and/or produced electronically shall be deemed to be their original signature for all purposes. Each of the undersigned, on behalf of each undersigned and Company, hereby agree with the all of the foregoing and certify all information provided herein to be true and correct as of the date hereof and, except as otherwise updated by Company in writing to Milestone, shall be true as of the date of the Rental/Lease Agreement and Guaranty.