Late Auction Fees. In the event that a vehicle accepted under the Daily Rental Guaranteed Residual Program is unsold through the 25th day after acceptance, GM will accrue $3.00/day owing such vehicle to the Major Daily Rental Company starting on the 26th day. On the 61st day after acceptance, the rate will increase to $4.50/day until the vehicle is either sold or transferred to the Daily Rental Acquisition Program. Amounts accrued will be paid monthly with the true-up payment.
Appears in 4 contracts
Samples: Vehicle Purchase Agreement (Avis Budget Group, Inc.), Vehicle Purchase Agreement (Avis Budget Group, Inc.), Vehicle Purchase Agreement (Avis Budget Group, Inc.)
