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1、MASTEREQUIPMENTRENTALAGREEMENTBEITKNOWN,thaton_____9thMay,2015,thisMasterLeaseAgreement(the“Agreement”)wasexecutedbetweenBGP/CNPCINTERNATIONALNIGERIALTD.BGPInc.,ChinaNationalPetroleumCorporation,acompanyincorporatedandexistingunderthelawsofNigeriawhoseregisteredoffi
2、ceisatNoble/GlobalYardByElemeJunction,KM12Aba/PortHarcourtExpressRoad,PortHarcourt,NigeriaaP.R.Chinacompany,whosebusinessaddressisNo.189FanyangRoadZhuozhou,Hebei072751P.R.China(the“Lessee”)andFairfieldIndustriesIncorporatedd/b/aFairfieldNodal(the“Lessor”).EachofLess
3、orandLesseeisreferredtoasa“Party”andtogether,asthe“Parties”.RECITALSWHEREAS,fromtimetotimeLesseemaywishtorentequipmentownedbyLessor(suchequipment,togetherwithanyreplacementsmadetheretoashereafterprovided,isthe“Equipment”);andWHEREAS,inanefforttoexpeditetheprocessofr
4、entingEquipmenttoLessee,bothLessorandLesseedesiretoexecutethisAgreementcontainingthegeneraltermsandconditionsgoverningtherentalofEquipmentbyLessee;andWHEREAS,fromtimetotimethePartiesshallexecutevariousaddendumsidentifying(i)thespecificdescriptionandquantityofEquipme
5、nttoberentedbyLessortoLessee,(ii)therentalterm,(iii)thedailyrentalrate,and(iv)othertermsasmaybemutuallyagreedtoinwritingbyLesseeandLessoratthetimeofexecutionoftheaddendum(s).Asampleaddendumisattachedheretoas“ExhibitA”:NOWTHEREFORE,LessorandLessee,inconsiderationofth
6、emutualcovenantssetforthbelow,herebyenterintothisAgreementsettingforththegeneraltermsandconditionsgoverningLessee’srentalofEquipmentownedbyLessor,asfollows:1.AgreementTerm–ThetermofthisAgreementshallcontinueforone(1)yearfromthedatefirstshownaboveunlessotherwisetermi
7、natedinaccordancewiththisAgreement.ProvidedthatthetermshallnotterminateintheeventthatanaddendumtothisAgreementstillsubsists,butthetermshallbeextendedtocovertheunexpiredtermofsuchaddendum.2.ObligationtoRent–ThePartiesstipulatethatLessorshallnotberequiredtorentanyEqui
8、pmenttoLesseeasaresultofthisAgreement,assuchrentalsaresubjecttomarketconditions,availabilityofEquipment,andLessor’sowndiscretion.Lesseesha
