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Exhibit 10.13    
  

 
 

GUARANTEE & INDEMNITY—CROSS BORDER (ALL MONIES)    
  

	Dated:	 	 
	

In this deed:	
 	

 
	

"the guarantor"	
 	

is TRM Corporation Inc.

of 5208 N.E. 122nd Avenue, Portland, Oregon

97230 - 1074, United States of America
	

"the company"	
 	

is BARCLAYS MERCANTILE BUSINESS FINANCE LIMITED (a company registered in England, company number 898129) whose registered office is at Churchill Plaza, Churchill Way, Basingstoke, Hampshire, RG21 7GP
	

"the customer"	
 	

is TRM Copy Centres (U.K.) Limited

(a company registered in England, company number 3220922) whose registered office is at Unit 4, Brunel Centre, Newton Road, Crawley, West Sussex, RH10 2US

	1.1
	In
this deed the masculine includes the feminine and the neuter and the singular includes the plural and vice versa.

	1.2
	Where
there are two or more guarantors for the same obligation (whether by this deed or otherwise) the liability of such guarantors shall be joint and several.

	1.3
	If
more than one person is specified or referred to above as the customer, the word customer shall be construed in this deed as referring to and including each such person.

	1.4
	The
headings are for ease of reference and do not affect the construction of this deed.

	2.1
	The
guarantor unconditionally and irrevocably hereby undertakes to the company:

	(i)
	that
the guarantor will on demand in writing made to the guarantor pay or discharge to the company all monies and liabilities which shall for the time
being (and whether on or at any time after such demand) be due, owing or incurred to the company by the customer whether actually or contingently and whether solely or jointly with any other person
and whether as principal or surety and including interest thereon; and

	(ii)
	that
the guarantor will on demand in writing made to the guarantor perform and comply with all other obligations of the customer under or in respect of
any contracts from time to time entered into between the company and the customer which obligations the customer has failed to perform or comply with; and in respect thereof to pay the legal and other
costs and expenses of the company with value added tax (if any) thereon. 

	2.2
	In
addition to and without prejudice to clause 2.1 above, the guarantor unconditionally and irrevocably hereby undertakes to indemnify and keep the company indemnified against
any loss or damages and the legal and other costs and expenses with value added tax (if any) thereon suffered or incurred by the company as a result of the failure of the customer to meet any of its
liabilities or perform any of its obligations to the company.

	2.3
	The
maximum amount ultimately enforceable under this deed shall not exceed £7,300,000and in addition the interest, legal and other costs and expenses referred to in
clauses 2.1 and 2.2 above.

	3.1
	This
deed shall not be considered as satisfied by any intermediate payment or satisfaction of the whole or any part of any sum or sums of money due, owing or incurred to the company,
but shall be a continuing security and shall extend to cover any sum or sums of money which shall for the time being be comprised in the indebtedness of the customer to the company hereby secured. 

1

 
	3.2
	The
guarantee and indemnity comprised in this deed shall be binding as a continuing security on the guarantor until the date which is 30 days after the company shall have
received from the guarantor (or the executor or administrator of a deceased guarantor) notice to discontinue it in respect of contracts that may be entered into between the customer and the company
after such date of discontinuance, but, notwithstanding such discontinuance, the guarantor shall remain liable under this deed in respect of all contracts entered into between the customer and the
company dated prior to such date of discontinuance until all obligations under or in respect of such contracts have been performed.

	3.3
	The
guarantor undertakes to give the company notice in respect of any customer which is a subsidiary (as defined by Section 736 of the Companies Act 1985 or any amendment or
re-enactment thereof) of the guarantor forthwith on such customer ceasing to be its subsidiary.

	3.4
	To
be validly given any notice from the guarantor to the company must be in writing and addressed to the company at its registered address stated below, marked for the attention of
the company secretary.

	4.
	The
liability hereunder of the guarantor shall be as a primary obligor (as between the guarantor and the company) and not merely as a surety and (without prejudice to the generality of
the foregoing) shall not be impaired or discharged by reason of any time or other indulgence granted by the company to the customer or by reason of any arrangement entered into or composition agreed
by the company modifying (by operation of law or otherwise) the rights and remedies of the company or of any omission on the part of the company to enforce any of its rights against the customer or by
the withdrawal by the company of any facilities from the customer or by the substitution of any goods for those originally let to the customer by the company.

	5.
	The
company shall be at liberty without thereby affecting its rights under this deed at any time and from time to time, at its absolute discretion, to release, discharge, compound with
or otherwise vary or agree to vary any other securities held or to be held by the company for the liabilities or obligations of the customer or the liability of the guarantor under this deed or to
make any other arrangements with any one or more guarantor and no such release, discharge, composition, variation, agreement or arrangement shall prejudice or in any way affect the rights and remedies
of the company against any other guarantor.

	6.
	The
guarantor shall rank in any insolvency in respect of any sum paid hereunder by it and in respect of any other rights which may accrue howsoever to it in respect of any sum so paid
and be entitled to enforce the same only after all sums hereby secured have been paid.

	7.
	Any
security for the time being held by the guarantor from the customer in respect of this deed shall be held in trust for the company as security for the liability of the guarantor
hereunder.

	8.
	This
deed shall be in addition to any other guarantee or other security for the customer which the company may now or hereafter hold.

	9.
	For
purposes of the liability of the guarantor under this deed every sum of money which may now be or which hereafter may become due or owing to the company by the customer or would
have become so due or owing were it not for the appointment of an administrator, receiver, administrative receiver or liquidator of the business or assets of the customer or any part thereof or is
deemed to become so due on such appointment shall be deemed to continue due and owing until actually paid to the company notwithstanding the intervening insolvency or winding up of the customer.

	10.
	Any
money received hereunder may be placed and kept to the credit of a suspense account for so long as the company thinks fit without any obligation in the meantime to apply the same
or any part thereof in or towards discharge of any moneys or liabilities due, owing or incurred by the 

2

 

customer
to it. Notwithstanding any such payment in the event of any proceedings in or analogous to bankruptcy, liquidation, composition or arrangement the company may prove for and agree to accept
any dividend or composition in respect of the whole or any part of such money and liabilities in the same manner as if this deed had not been executed. 

	11.1
	The
execution of this deed by any body corporate named as guarantor shall constitute a warranty that the execution of and performance of this deed is within the powers of such body
corporate and constitutes an enforceable liability of that body corporate.

	11.2
	No
defect in the execution of this deed by any guarantor shall affect the liability of any other guarantor.

	12.
	A
certificate by the Secretary or other officer of the company as to the monies and liabilities for the time being due and not paid or discharged on first demand made by the company
on the customer shall, in the absence of manifest error, be conclusive evidence against the guarantor and the customer in any legal proceedings.

	13.1
	If
under any applicable law and whether pursuant to a judgment being made or registered against the guarantor or for any other reason, any payment under or in connection with this
deed is made or
falls to be satisfied in a currency (the "other currency") other than sterling, then to the extent that the payment (when converted into sterling at the rate of exchange on the date of payment or, if
it is not practicable for the company to purchase sterling with the other currency on the date of payment, at the rate of exchange as soon thereafter as it is practicable for the company to do so or,
in the case of the guarantor's liquidation, bankruptcy or analogous process at the rate of exchange on the latest date permitted by applicable law for the determination of liabilities in such
liquidation, bankruptcy or analogous process) actually received by the company falls short of the amount due under the terms of this deed the guarantor shall, as a separate and independent obligation,
indemnify and hold the company harmless against the amount of such shortfall.

	13.2
	For
the purpose of this clause "rate of exchange" means the rate at which the company is able on the relevant date to purchase sterling with the other currency, and shall take into
account any premium and other costs of exchange.

	14.
	All
payments hereunder shall be made without set-off or counter-claim and free and clear of and without deduction or withholding for or on account of any present or future
taxes, levies, imposts, duties or other charges of any nature whatsoever. If the guarantor should be compelled by law to deduct or withhold such taxes, it shall pay such additional amounts to the
company as may be necessary in order that the actual amount received by the company after deduction or withholding (and after deduction of an amount equal to any additional taxes or other charges
required to be deducted or withheld as a consequence of the payment of such additional amount) shall equal the amount that would have been received if such deduction or withholding were not required.
If the guarantor shall make any deduction or withholding from any amount paid hereunder, it shall upon request forthwith supply the company with official receipts or other evidence acceptable to the
company establishing payment of such deducted or withheld amounts by the guarantor to the appropriate taxing or other authority.

	15.
	Each
provision in this deed shall be construed as a separate provision and, if part or the entirety of any provision is held by any court of competent jurisdiction to be unenforceable
or unenforceable in respect of one or more of several customers, such unenforceability shall have no effect upon and shall not impair the validity, enforceability or legality of the remaining parts of
such provision or of any other provision contained in this deed or its validity, enforceability or legality in respect of any other customer.

	16.1
	This
deed shall be governed by and construed in accordance with the law of England. 

3

 
	16.2
	The
guarantor hereby submits to the non-exclusive jurisdiction of the High Court of Justice in London and, without prejudice to the generality of the foregoing, agrees
that the company may take proceedings against the guarantor in any jurisdiction it considers fit.

	16.3
	The
taking of proceedings in any one jurisdiction shall not preclude the taking of proceedings in any other jurisdiction whether concurrently or not.

	16.4
	The
guarantor waives any objection which it may have now or at any time in the future to the taking of proceedings in any jurisdiction or that such proceedings are brought in an
inconvenient forum.

	17.
	The
guarantor hereby appoints the customer to be the guarantor's agent to accept on the guarantor's behalf any demand under this deed or service of proceedings commenced in England
and will at all times maintain an agent in England to accept service of demands and/or proceedings on the guarantor's behalf. 

IN
WITNESS whereof this deed was entered into the day and year first before written. 

EITHER 

The
Common Seal of TRM Corporation Inc. 

has
been hereunto affixed

in the presence of: 

Director 

Secretary 

0R 

	 	 	 	 	                                        
                
	

Signed by	
 	

/s/ Kenneth L. Tepper	
 	

Signature(s) confirmed by
	 	 	
	 	 
	 	 	Kenneth L. Tepper	 	\s\ Rebecca Demy
	

And	
 	

 	
 	

Assistant Secretary

                                         
               
	 	 	/s/ Amy B. Smith for and on	 	 
	 	 	
	 	 
	 	 	Amy B. Smith	 	 

behalf
of TRM Corporation Inc.

pursuant to a resolution of the Board of

Directors (a certified copy of which is

annexed hereto) 

I/we/each
of us hereby acknowledge(s) receipt of a copy of the above guarantee. 

                                        
                

                                        
                
 

4

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Exhibit 10.13

GUARANTEE & INDEMNITY—CROSS BORDER (ALL MONIES)QuickLinks
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Exhibit 10.14    
  

	NCR	 	Agreement ref.    TRM 001

                  

 
 

RENTAL AGREEMENT
  (IT products)    
  

CUSTOMER DETAILS  

	Name	 	: TRM (ATM) LIMITED	 	 
	

Address	
 	

: Unit 4, Brunel Centre, Newton Road, Crawley, West Sussex RH10 2US
	

Contact Name	
 	

 	
 	

: Telephone:

SUPPLIER  

	Name	 	: NCR LIMITED	 	 
	

Address	
 	

: 206 Marylebone Road, London NW1 6LY

PRODUCT DETAILS  

PRODUCTS to be installed  

	QUANTITY
	 	DESCRIPTION, MODEL NUMBER
	 	SERIAL NUMBER
	 	PERIODIC

RENTAL CHARGE

	 	
 See Schedule of Products attached
	 	
Special terms	
 	

 	
 	

 
	 	

1.	
 	

Notwithstanding the date of signature by the Customer of the Delivery Certificate, the Commencement Date shall be deemed to be 1 April 2002 and Rental Charges shall be paid by the customer to NCR accordingly.
	 	

2.	
 	

The Rental Charges during the Minimum Rental Period shall be as follows:
	

 	
 	
Amount	
 	

 	
 	

No. of payments
	 	 	 	 	 	 	1
	 	 	 	 	 	 	15

(Continuation sheet(s) attached if applicable)

PRODUCTS to be retained (where Products have been brought forward from an existing or previous agreement)  

	QUANTITY
	 	DESCRIPTION, MODEL NUMBER
	 	SERIAL NUMBER
	 	PERIODIC

RENTAL CHARGE

(Continuation sheet(s) attached if applicable)  

FINANCIAL DETAILS  

	PERIODIC

RENTAL CHARGE	 	see Product Details

section on page 1	 	+ VAT	 	MINIMUM

RENTAL

PERIOD	 	48	 	months commencing on the First Payment Date
	
RENTAL FREQUENCY	
 	

Quarterly	
 	
FIRST

RENTAL	
 	

the part rental charge, calculated pro rata to the periodic Rental Charge, for the period (if any) from the Commencement Date (see clause 1.1.1) to the First Payment Date
	

 	
 	
(Monthly/Quarterly)	
 	

 	
 	

 	
 	

 
	
PAYMENT DATES	
 	

the Commencement Date and thereafter the corresponding date in each succeeding calendar quarter
	
FIRST

PAYMENT DATE	
 	

the Commencement Date
	

 	
 	
The Customer requests NCR to let the Products to the Customer under this
Agreement.
 NCR agrees to let and the Customer agrees to take on rental the Products on the terms and conditions of this Agreement.

	

Signed on behalf of
 TRM (ATM) LIMITED	
 	

Accepted on behalf of
 NCR LIMITED ("NCR")
	

/s/ P. A. Townsley	
 	

/s/ Roger Bracken
	
	 	

	(Signature)	 	(Signature)
	

 	
 	

VP, NCR, FSD
	Peter A. Townsley	 	UK, IRELAND
	
	 	

	(Full Name)	 	 
	 	 	13/08/02
	 	 	
 (Date)
	Managing Director
 (Position)	 	 
	

 	
 	

206 Marylebone Road
	18/7/02	 	London NW1 6LY
	
 (Date)	 	 

 
 

TERMS AND CONDITIONS    
  

	SECTION 1—SUPPLY TERMS
	

1.1	
 	
DELIVERY AND ACCEPTANCE
	

1.1.1	
 	

The Customer will accept delivery of the Products from NCR and will sign a Delivery Certificate, in the form provided by NCR, at the time of delivery or, if applicable, upon completion of appropriate acceptance procedures. "Commencement Date" means the date of signature by the Customer of
the Delivery Certificate. Signature of the Delivery Certificate will be conclusive proof that the Products have been delivered complete and in good condition and are accepted by the Customer for the
purpose of this Agreement.
	

1.1.2	
 	

References to "Products" shall mean, as the context allows or requires, all or any of the items listed in the Product Details section above. The Products may comprise tangible items of equipment ("Equipment") and/or machine software ("Software") and
shall include any related manuals, service records and other documentation.
	

1.2	
 	
SELECTION OF PRODUCTS, WARRANTIES
	

1.2.1	
 	

The Customer agrees that it has used its own skill and judgement in selecting the Products and deciding upon their suitability for its purpose. NCR makes no
representation or warranty as to whether the Products are of satisfactory quality or as to their description, performance or fitness for any purpose (whether disclosed to NCR or not) and any condition or
warranty which may be implied by law is expressly excluded. The Customer represents that it will use the Products in the course of a business and agrees that it is reasonable for NCR to exclude liability under this clause 1.2.1 and clause 2.6.
	

1.2.2	
 	

The Customer agrees that it does not rely on any oral or written statements or representations on the part of NCR except any written statements or
representations incorporated in or referred to in this Agreement.
	
SECTION 2—RENTAL TERMS
	

2.1	
 	
DURATION
	

2.1.1	
 	

The renting of the Products commences on the Commencement Date and, unless terminated in accordance with clause 2.4 or 2.5.4, continues until terminated by the Customer in accordance with
clause 2.1.2 or by NCR in accordance with clause 2.7.
	

2.1.2	
 	

The Customer may terminate the renting of the Products by giving NCR 6 months' notice to expire on the last day of the Minimum Rental Period or on the day prior to any subsequent Payment Date. The
Minimum Rental Period and Payment Dates are specified in the Financial Details section above.
	

2.2	
 	
RENTAL CHARGES AND PAYMENT
	

2.2.1	
 	

Rent for the Products will be charged from the Commencement Date. The Customer will pay to NCR, on the First Payment Date, the First Rental (if any)
together with the first periodic Rental Charge. Thereafter the Customer will pay the periodic Rental Charge in advance on each successive Payment Date until termination. Upon expiry of the Minimum Rental
Period or any renewal period, Rental Charges shall continue at the then applicable rate unless renegotiated at the Customer's request.
	

2.2.2	
 	

All payments due under this Agreement will be subject to value added tax at the rate prevailing from time to time. NCR will issue periodic invoices for value added tax purposes.
	

2.2.3	
 	

The Customer will pay Rental Charges to NCR by standing order or direct debit without prior demand and in sufficient time so as to be received in cleared
funds by the due date. Time of payment of all sums falling due is of the essence of this Agreement.
	
 	
 	

 

	

2.2.4	
 	

The Customer agrees to make all payments without deduction or set-off even if the Products are not fully operational or if the Customer has any outstanding
claim or allegation against NCR. If any deduction or withholding is required by law, that payment will be increased so that the amount received by NCR
equals the amount it would have received in the absence of such requirement.
	

2.2.5	
 	
NCR may charge interest on overdue payments from the due date to the date of actual payment at the rate of 4% per annum over Barclays Bank base rate for the time being, compounded
quarterly.
	

2.3	
 	
USE OF PRODUCTS
	

2.3.1	
 	
NCR shall allow the Customer quiet possession and use of the Products until termination, provided that it performs all of its obligations under
this Agreement.
	

2.3.2	
 	

The Customer will keep the Products at the Customer's Site(s) specified in the Delivery Certificate and will ensure that they comply and are used in
compliance with all applicable regulations and statutes. The Customer will allow NCR to inspect the Equipment by arrangement upon reasonable notice and, if
required by NCR, will allow NCR to attach identification labels.
	

2.3.3	
 	

The Customer will at its own expense keep the Equipment complete, in good condition (fair wear and tear excepted) and in good working order. The Customer
will be responsible for obtaining all permits required, and for the payment of all taxes, registration charges or other outlays applicable to the use or operation of the Equipment. If the Equipment is of a type which is customarily covered by a
maintenance contract, then the Customer shall enter into an appropriate maintenance contract with the Supplier or some other competent and reputable maintainer.
	

2.3.4	
 	

The Customer agrees that it will not acquire any right, title or interest in the Products except as set out in this Agreement and will not take or permit any action which may prejudice the rights of
NCR. In particular, the Customer will not sub-let or offer or agree to sell the Products nor permit any charge or lien to arise over them. The Customer may not assign its rights or obligations under this Agreement without the written consent of NCR.
	

2.3.5	
 	

Except as provided below, all additions, improvements and replacements to or of the Equipment will belong to NCR and will be re-delivered to NCR upon
termination. The Customer may retain any accessories or ancillary items fitted to or in the Equipment (which are not subject to this Agreement or any other agreement between the Customer and NCR) provided that the removal of such items does not cause any damage or disfigurement and does not cause the operational capability of the Products to be
less than when they were originally supplied under this Agreement.
	

2.3.6	
 	

Upon termination of the renting of the Products, however arising, the Customer will re-deliver the Products, at its own expense, to such destination in the mainland UK as NCR shall direct and in accordance with the conditions in clauses 2.3.6.1 to 2.3.6.3.
	

2.3.6.1	
 	

The Products shall be complete (including any power cables, data cables, power adapters, security keys or other devices with which they were originally supplied), in good condition (fair wear and tear excepted), in good working order and generally in
the same state of readiness for use as when originally supplied.
	

2.3.6.2	
 	

The Products shall be properly packaged and crated and re-delivered in a single shipment or, if there are two or more Customer Sites, in a single shipment from each site.
	
 	
 	

 

	

2.3.6.3	
 	

If the Equipment has been, or is of a type which customarily is, covered by a maintenance contract, the Customer shall on or before re-delivery provide a letter of confirmation from the Supplier or from
a competent and reputable maintainer of equipment of the same type as the Equipment certifying that the Equipment is in good working order and that it is eligible to be the subject of a maintenance contract on standard terms (for equipment of the
same age) with such party.
	

2.3.7	
 	

If the Customer fails to re-deliver any Products in accordance with clause 2.3.6, the Customer shall be liable to NCR
for the costs of recovering the Products, of restoring them to the condition required by clause 2.3.6 and of replacing any missing parts and accessories. If any Products are not re-delivered within 7 days of the date
on which they are due to be re-delivered (which, subject to any deferral provided below, shall be the date of termination of the renting of the Products), then unless the Customer has given notice to
NCR of a total loss and paid the sum due under clause 2.5.4, the date for re-delivery of such Products shall be deferred to the next following Payment Date and the Customer
shall pay to NCR, as compensation for deferral of re-delivery, an amount equal to the Rental Charge which would have been applicable for such period at the rate applicable
preceding termination.
	

2.4	
 	

THIS CLAUSE INTENTIONALLY OMITTED
	

2.5	
 	
INSURANCE OF PRODUCTS AND RISK
	

2.5.1	
 	

All risks of loss of or damage to the Products will pass to the Customer at the time of delivery to the Customer.
	

2.5.2	
 	

The Customer will, at its own expense, maintain with a reputable insurer, as from the date of delivery until the date on which the Products are re-delivered to or recovered by NCR, insurance cover against: (i) loss or damage for an amount not less than the replacement value of the Products or, if greater, 120% of the Rental Charges remaining to be paid during the Minimum Rental
Period; and (ii) third party risks. If required by NCR, the insurance policy will record NCR's interest in the Products and will name NCR as loss payee.
	

2.5.3	
 	

If any Products are damaged, the Customer will, at its own cost, repair the damaged items or replace them with similar items of equal value and no less operational capability and the Customer will cause title to any replacement items to vest in NCR. Provided such repairs or replacements have been carried out, any insurance proceeds received by
NCR will be paid to the Customer as a rebate of Rental Charges.
	

2.5.4	
 	

If NCR is notified that any Products have been lost, confiscated, stolen or damaged beyond economic repair, the renting of those Products ("Lost Products") will immediately terminate. Unless NCR has agreed in writing to accept replacement items, the Customer will forthwith on demand pay to NCR, in respect of the
Lost Products, the amount calculated in accordance with clause 2.7.2.2. Following receipt by NCR of that amount, any insurance proceeds received by NCR
will be paid to the Customer as a rebate of Rental Charges.
	

2.6	
 	
LIABILITY OF NCR AND CUSTOMER
	

 	
 	

The Customer agrees that NCR shall have no liability (except in relation to death or personal injury caused by negligence on the part of NCR) for any loss or damage caused directly or indirectly by the Products or arising out of the hiring, possession, use or operation of the Products. The Customer
indemnifies NCR against all losses, liabilities, costs, claims, expenses and demands suffered or incurred by NCR as a consequence of claims made against
NCR by any other party in relation to or arising out of the hiring, possession, use or operation of the Products.
	
 	
 	

 

	

2.7	
 	
DEFAULT AND TERMINATION
	

2.7.1	
 	

If any of the events listed below should occur, it will constitute a repudiation by the Customer of this Agreement and at any time thereafter NCR may, by
giving notice to the Customer, accept that repudiation and declare the renting of the Products terminated. The events are:
	

2.7.1.1	
 	

the Customer failing to pay in full within 7 days of its due date any payment required by this Agreement;
	

2.7.1.2	
 	

the Customer being in material breach of any other obligation under this Agreement or any other agreement between the Customer and NCR, and failing to remedy that breach within 7 days of being required to do so;
	

2.7.1.3	
 	

the appointment or the presentation of a petition for the appointment of a liquidator, receiver, administrator or administrative receiver over any part of the Customer's business or assets;
	

2.7.1.4	
 	

the Customer ceasing to trade or being declared insolvent or being unable to pay its debts as they fall due;
	

2.7.1.5	
 	

the Customer ceasing to be a subsidiary (within the meaning of s.736 of the Companies Act 1985) of the company which, at the date of NCR's acceptance of
this Agreement, was its ultimate holding company.
	

2.7.2	
 	

Upon termination under clause 2.7.1:
	

2.7.2.1	
 	

the Customer will no longer be in possession of the Products with NCR's consent and, if the Customer has not
re-delivered the Products in accordance with clause 2.3.6, NCR or its agent may enter the Customer's Site without further permission and take
possession of the Products; and
	

2.7.2.2	
 	

the Customer will immediately pay to NCR, as an agreed pre-estimate of the loss that would be suffered by NCR
as a consequence of termination, an amount equal to the aggregate of all Rental Charges then due but unpaid together with interest due under clause 2.2.5; plus all costs incurred by NCR in enforcing
or seeking to enforce this Agreement and in locating and recovering the Products; plus the sum of all further Rental Charges which, but for termination, would have fallen due during the Minimum Rental Period, each discounted at 3% per annum for
accelerated payment; plus all other sums due under this Agreement.
	

2.8	
 	
OWNERSHIP AND ASSIGNMENT
	

2.8.1	
 	
NCR may at any time assign the benefit of this Agreement or the right to receive payment of Rental Charges and other sums payable under this Agreement to another party. In that event, the
Customer will owe to NCR's assignee all obligations and liabilities to be performed or discharged by the Customer under this Agreement as if that assignee was named in this Agreement in place of NCR. Any such assignment shall not affect NCR's obligations to the
Customer. The Customer agrees that it will not claim or exercise against NCR's assignee any right of defence,
set off or counterclaim in respect of any actual or alleged failure by NCR to perform such obligations.
	

2.8.2	
 	

Either NCR or NCR's assignee may give notice of any assignment to the Customer. The Customer agrees to comply with all directions given in such notice as to the performance of this Agreement or as otherwise directed by NCR's assignee provided that any
such directions shall not impose any greater burden or liability on the Customer.
	
SECTION 3—GENERAL PROVISIONS
	

3.1	
 	

This Agreement will not be binding until it has been signed on behalf of each of the parties. Each party confirms that it has taken all action necessary to authorise the execution of and the performance of its obligations under this
Agreement.
	
 	
 	

 

	

3.2	
 	

The Customer represents and warrants that there has been no material adverse change in its financial position since the date to which its last audited accounts are made up. The Customer undertakes, whilst this Agreement continues, that it will provide NCR with a copy of its latest audited accounts promptly upon the same becoming available
together with any other information concerning the Customer that NCR may reasonably require.
	

3.3	
 	

All notices to be given under this Agreement will be in writing addressed to the relevant party at its address shown in this Agreement or at its registered office. Notices may be sent by hand or by pre-paid mail. Notices sent by facsimile will be of
no effect unless confirmed by pre-paid mail.
	

3.4	
 	

The parties acknowledge and confirm that this Agreement, together with the Delivery Certificate(s), is the entire agreement between them relating to the renting of the Products. Any modification of or addition to this Agreement must be in writing
which refers to this Agreement and must be signed on behalf of the Customer and NCR.
	

3.5	
 	

Any failure of NCR to exercise in whole or in part its rights under this Agreement will not constitute a waiver of those rights.
	

3.6	
 	

Where the context allows, the provisions of this Agreement will continue to apply following expiry or termination of the renting of the Products. If any provision is held to be invalid, illegal or unenforceable in any respect, all other provisions
will remain intact.
	

3.7	
 	

This Agreement is governed by the law of England and the parties agree that the English courts will have non-exclusive jurisdiction.

QuickLinks

Exhibit 10.14

RENTAL AGREEMENT (IT products)

TERMS AND CONDITIONS

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