Sale of Vehicle. If BMW requires the Lessee to return the Vehicle to BMW or the Lessee returns the Vehicle to BMW or, BMW or a receiver takes possession of the Vehicle, BMW or the receiver as applicable shall: (a) sell the Vehicle to any person it chooses, in its absolute discretion, using any reasonable method; and (b) apply the proceeds of sale of the Vehicle towards: (i) any outstanding rental payments, costs of repossession, storage, costs of sale; (i) and any other payments due to BMW under this Lease; and (ii) if the balance remaining (Net Sale Proceeds) exceeds the Residual Value, pay the amount of that excess to the Lessee (after deducting any other money due by the Lessee to BMW).
Appears in 4 contracts
Samples: Finance Lease Agreement, Finance Lease Agreement, Lease Agreement
