EQUIPMENT & OFFICE SPACE USE AGREEMENT
This Agreement is entered into as of {date}, by and between:
Active Conglomerate Limited (ACL), operating as 316 Automotive, located at 3 Elm Crescent, (“the Owner”) and Aura Digital, (“the User”).
1. PURPOSE OF AGREEMENT
The purpose of this Agreement is to outline the terms under which Active Conglomerate Limited (ACL) grants Aura Digital temporary, non-exclusive use of specified equipment and office space during a pilot collaboration period.
This Agreement covers use only and does not constitute a sale, employment agreement, partnership, or service contract.
2. TERM
This Agreement shall commence on {date} and continue for a period of three (3) months, unless terminated earlier in accordance with Section 7 of this Agreement.
3. EQUIPMENT PROVIDED
Active Conglomerate Limited (ACL) agrees to provide Aura Digital access to the following equipment:
a)EUCOS 62" Phone Tripod
b)Aochuan Smart S2 Gimbal, including:
Protective case
USB to Type-C cable
Device ID#: 2AWDI-SMART S2
c)HUAWEI MateBook Pro Laptop Serial Number (SN): CSFYQ24105Y00604 including:
45W Charger
Model#: TPN-LA19
Part#: L42206-001
d) Apple iPhone 14
e). 1 OFFICE SPACE PROVIDED
Active Conglomerate Limited (ACL) agrees to provide Aura Digital access to:
Office space located on the premises of 316 Automotive
Address: 3 Elm Crescent
The office space may be used by Aura Digital for:
316 Automotive-related activities
Aura Digital internal operations
Meetings with Aura Digital clients
5. OWNERSHIP & USE
All equipment and office space remain the sole property of Active Conglomerate Limited (ACL).
Aura Digital is granted permission to use the equipment and space for business purposes only.
Equipment shall be handled with reasonable care.
Aura Digital shall not sell, sublease, or transfer the equipment or office space to any third party.
6. COST & CONSIDERATION
No rental, leasing, or usage fees shall be charged by either party during the term of this Agreement.
This arrangement is agreed to as a mutual pilot accommodation, with no monetary exchange.
7. TERMINATION
Either party may terminate this Agreement with written or verbal notice. Upon termination:
a) All equipment shall be returned in reasonable condition
b) Access to the office space shall cease
c) Neither party shall owe any outstanding payments to the other
8. LIABILITY
Aura Digital agrees to exercise reasonable care in the use of all equipment and facilities.
Normal wear and tear is acceptable.
Aura Digital shall notify Active Conglomerate Limited (ACL) of any damage or malfunction as soon as reasonably possible.
9. INDEPENDENT RELATIONSHIP
Nothing in this Agreement shall be construed as creating an employment relationship, partnership, joint venture, or agency relationship between the parties.
10. GOVERNING LAW
This Agreement shall be governed by and interpreted in accordance with the laws of Jamaica.
11. ENTIRE AGREEMENT
This Agreement constitutes the entire understanding between the parties regarding the use of equipment and office space and supersedes all prior discussions or informal arrangements.