Common use of Exceptions to the Excess Wear and Tear Deduction Clause in Contracts

Exceptions to the Excess Wear and Tear Deduction. The following exceptions apply to us charging you the Excess Wear and Tear Deduction: (i) If you disagree with our calculation, you can pay for a professional inspection of the Vehicle’s condition by a third party that we approve and, if you do so, the amount confirmed by that inspector will be the amount of the Excess Wear and Tear Deduction. (ii) If, in our opinion, the Vehicle’s condition has materially deteriorated since our initial inspection or the professional inspection (as described in clause 1.3(d)(i) above), we can either undertake another inspection of the Vehicle’s condition, or require you to organise another professional inspection to update the Excess Wear and Tear Deduction on the Due Date, and we will adjust the Sale Price to reflect the revised Excess Wear and Tear Deduction.

Appears in 6 contracts

Samples: Guaranteed Future Value Agreement, GFV Agreement, GFV Agreement

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