Extraordinary cancellation. The right to extraordinary cancellation remains unaffected. The same formal requirements hold valid for both extraordinary and ordinary cancellation. Both parties are entitled to cancel the contract for exceptional reasons if the other party becomes insolvent or has violated one of the essential contractual obligations, i.e. breeches of one of the major warranties or guarantees in this contract, and if a violation of this kind is not rectified by the perpetrator within two months following written notice by the injured party. For this, the submission of a signed paper document is required to be sent by post or scanned as a .pdf and sent via email.
Extraordinary cancellation. 1. GEFA can cancel the Lease Contract without notice if an important ground exists. This ground exists especially if
Extraordinary cancellation. 9.1 The contract can be cancelled for important reason in the sphere of the other contractual partner. The leasing company can in particular cancel without notice if the client • is in arrears with the fulfillment of two consecutive installments, or • is in arrears with payments, whose amount corresponds to two installments, for longer than two due dates for installments, or • has provided incorrect information about his financial status, or • is consistently in breach of his contractual obligations, for example, his obligations to disclose his economic circumstances according to Numeral 13.4, or • is the target of enforcement measures, or • allows accepted bills of exchange or checks to be protested. The leasing company can also cancel then for an important reason if a significant deterioration in the financial status of the client, a personally liable shareholder, a guarantor or a jointly and severally liable debtor occurs or threatens to occur, which jeopardizes the fulfillment of the contractual obligations. For contracts with users who use the property for a commercial or independent professional activity that was not already being exercised when the contract was concluded, the leasing company is entitled to cancel, caused by payments in arrears, if the legal requirements of §498 BGB are met. If other rules are not explicitly agreed in the contract, restriction and loss of usability do not entitle the client to terminate the contract. The extraordinary cancellation of the contract by the client is also excluded if the leasing company objects to a transfer of use to third parties desired by the client. The client’s heir does not have a right to an early cancellation of the contract because of the death of the client; however, he can ask for the termination of the contract if he offers the payment of an amount according to Numeral 6.3.
