Hi, I really need help understanding these clauses and whether there is anything wrong with them. These clauses are included in the Hire Purchase agreement Tcs. In the scenario, my client wishes to buy the assets of a company and those assets include this contract between the company's supplier. My client wants to know if theer anything wrong with these clauses and whther it would them at a disadvantage to accept this contract.

Clause 5: Termination

5.1 The Customer may terminate the Agreement at any time by written notice in accordance with the provisions of this Agreement.

5.2 The Owner may terminate this Agreement immediately on written notice if:

(a) the Customer fails to pay any Instalment due under this Agreement on the due date or any other sum due under this Agreement within 5 days of it being due and payable;

(b) the Customer breaches any term of this Agreement and if such breach is remediable the Customer fails to remedy it within 14 days of written notice requiring remedy;

(c) if the Customer dies or an application is made for an interim order to be made in relation to the Customer or a petition is presented for a bankruptcy order against the Customer or if the Customer arranges or attempts to arrange a composition or scheme with its creditors;

(d) the Customer ceases or threatens to cease to carry on trading or sells or disposes of a substantial part of its business or assets without the Owner's consent;

(e) if any event occurs which, in the opinion of the Owner, has or is likely to have a material adverse effect on the Customer's business or financial condition or its ability to perform and observe its obligations under this Agreement.

Clause 6: Consequences of termination

Upon the termination of this Agreement pursuant to clause 5 the Customer must pay to the Owner:

(a) all Instalments and interest thereon accruing up to and including the date on which this Agreement was ended;

(b) the cost of repossessing the Equipment and the cost of all repairs and/or replacements required as at the date of termination, to render the Goods in good and substantial repair and proper working condition (fair wear and tear excepted);

(c) by way of agreed damages, a sum equal to the unpaid Instalments at the date of termination less a rebate of interest calculated according to such reasonable actuarial method as the Owner shall determine and;

(d) any other sums which are or become due to us to which we are entitled by way of damages;

(e) less if the Equipment is sold within three months of repossession the net saleproceeds for the Equipment after deducting the costs of sale or if the Equipment is not sold in such three month period the value of the Equipment in the reasonable opinion of the Owner, or, as the case may be, less any sums received by the Owner in relation to any insurance of the Equipment where the Equipment has been stolen or rendered a total loss.

Clause 7: Liability of parties

7.1 The Owner will at the Customer's request and cost transfer so far as possible the benefit of any manufacturer's express warranties of fitness and performance of the Equipment.

7.2 Save in respect of death or personal injury arising from the negligence of the Owner, the Owner assumes no responsibility for any loss arising by virtue of the Equipment not being of satisfactory quality, not suitable for the Customer's purposes or not corresponding with any description of the Equipment.

7.3 The Customer will indemnify the Owner if its possession or use of the Equipment under this Agreement causes the Owner any loss or cost.

Clause 8: General

8.1 If the Customer fails to pay any sum due on time the Owner has the right to charge daily interest on that sum at the rate of 6% above the Bank of England Base Rate from time to time. Interest will be charged from the date of payment until actual payment. This clause will apply both before and after any court judgement that may be obtained against the Customer and will survive and apply after termination of this Agreement or the hiring.

8.2 The Customer must not assign this Agreement or deal in any way with the Equipment without the prior written consent of the Owner but the Owner may assign or deal in its rights and/or its obligations under this Agreement.

8.3 This Agreement constitutes the whole agreement between the parties.

8.4 Where the provisions of this Agreement permit or require one party to give notice to the other, such notice shall not be deemed given unless in writing at the address of the party set out overleaf.

If anyone could really help me to understand these clauses, I would really appreciate it so much!