Common use of Termination of the Lease Agreement Clause in Contracts

Termination of the Lease Agreement. 15.1. Unless the Lessee can invoke the right of withdrawal relating to distance sales, in the event of force majeure or when the Lessee has opted for a flexible Lease agreement (a '12-60' contract, concluded for a term of 60 months but terminable without charge on a monthly basis after 12 months),the Lease agreement can only be prematurely terminated by the Parties subject to payment of a termination fee. Failure to take delivery of the Vehicle will be regarded as a breach of the Lease agreement within the meaning of this article. 15.1.1. Termination of the Lease agreement before delivery of the Vehicle/the start of the Lease Period: - Termination of the Lease agreement more than thirty days before delivery of the Vehicle: flat-rate compensation of 400 €, VAT excluded. - Termination of the Lease agreement thirty days or less before delivery of the Vehicle: €650, VAT excluded. The delivery date shall be determined by the seller/supplier of the Vehicle. The aforementioned flat fees are reduced by half if the Lessee orders a new Vehicle from DirectLease within thirty days of cancellation. The cancelling Party shall only owe the aforementioned flat fee to the cancelled Party, unless the cancelled Party proves that the actual damage (in particular any damages, costs, etc. that would be owed by the cancelled Party as a result of the cancellation) is higher. In this case, the cancelled Party will be entitled to charge the cancelling Party for the actual damage, consisting of all relevant damages, costs, etc.. 15.1.2. Cancellation of the Lease agreement after delivery of the Vehicle/commencement of the Lease period: the terminating Party must pay a cancellation fee calculated as follows: - In the event of cancellation during the first year of the Lease period, the cancelling Party must pay an indemnity equal to all the remaining monthly Lease fees for the first year, with a minimum of six monthly Lease fees. The minimum of six monthly Lease fees is not applicable if the Lessee has opted for a flexible ('12-60') Lease agreement; - In the event of cancellation as from the second year of the Lease period, the cancellation fee is made up of 35% of all the remaining monthly Lease fees (i.e. 35% of the Lease fees that would have been due for the period between the early return of the Vehicle and the end of the contractual Lease period). This arrangement does not apply if the Lessee has opted for a flexible Lease agreement, in which case, after 12 months, the Lessee is free to terminate the Lease agreement at any time without payment of any compensation and the Lease agreement terminates when the car is returned to DirectLease. Apart from a possible cancellation fee, the Lessee must in any case pay the following costs: the costs of returning the Vehicle as provided for in Article 16, any costs for unsettled damages, excess mileage and any payment arrears.

Termination of the Lease Agreement. 15.1. Unless the Lessee can invoke the right of withdrawal relating to distance sales, in the event of force majeure or when the Lessee has opted for a flexible Lease agreement (a '12-60' contract, concluded for a term of 60 months but terminable without charge on a monthly basis after 12 months),the Lease agreement can only be prematurely terminated by the Parties subject to payment of a termination fee. Failure to take delivery of the Vehicle will be regarded as a breach of the Lease agreement within the meaning of this article. 15.1.1. Termination of the Lease agreement before delivery of the Vehicle/the start of the Lease Period: - Termination of the Lease agreement more than thirty days before delivery of the Vehicle: flat-rate compensation of 400 €, VAT excluded. - Termination of the Lease agreement thirty days or less before delivery of the Vehicle: €650, VAT excluded. The delivery date shall be determined by the seller/supplier of the Vehicle. The aforementioned flat fees are reduced by half if the Lessee orders a new Vehicle from DirectLease within thirty days of cancellation. The cancelling Party shall only owe the aforementioned flat fee to the cancelled Party, unless the cancelled Party proves that the actual damage (in particular any damages, costs, etc. that would be owed by the cancelled Party as a result of the cancellation) is higher. In this case, the cancelled Party will be entitled to charge the cancelling Party for the actual damage, consisting of all relevant damages, costs, etc.. 15.1.2. Cancellation of the Lease agreement after delivery of the Vehicle/commencement of the Lease period: the terminating Party must pay a cancellation fee calculated as follows: - In the event of cancellation during the first year of the Lease period, the cancelling Party must pay an indemnity equal to all the remaining monthly Lease fees for the first year, with a minimum of six monthly Lease fees. The minimum of six monthly Lease fees is not applicable if the Lessee has opted for a flexible ('12-60') Lease agreement; - In the event of cancellation as from the second year of the Lease period, the cancellation fee is made up of 35% of all the remaining monthly Lease fees (i.e. 35% of the Lease fees that would have been due for the period between the early return of the Vehicle and the end of the contractual Lease period). This arrangement does not apply if the Lessee has opted for a flexible Lease agreement, in which case, after 12 months, the Lessee is free to terminate the Lease agreement at any time without payment of any compensation and the Lease agreement terminates when the car is returned to DirectLease. Apart from a possible cancellation fee, the Lessee must in any case pay the following costs: the costs of returning the Vehicle as provided for in Article 16, any costs for unsettled damages, excess mileage and any payment arrears.