Common use of Vehicle Ownership Clause in Contracts

Vehicle Ownership. The Lessee acknowledges that property and/or rights in each vehicle rest with the State Fleet and agree not to part with possession of the vehicle or encumber the vehicle in any way. Vehicle Return Standard Lessees are expected to return vehicles for disposal to meet the Vehicle Return Standard (outlined in Attachment 2).This includes any equipment that may have been fitted to the vehicle when purchased. Any vehicle returned that does not meet the Vehicle Return Standard will be repaired at the cost of the Lessee to the extent that the refurbishment expense is warranted. This includes replacing any missing equipment or accessories. In unusual circumstances the level of repair may be negotiated with State Fleet.

Vehicle Ownership. The Lessee acknowledges that property and/or rights in each vehicle rest with the State Fleet and agree not to part with possession of the vehicle or encumber the vehicle in any way. Vehicle Return Standard Lessees are expected to return vehicles for disposal to meet the Vehicle Return Standard (outlined in Attachment 2).This 2). This includes any equipment that may have been fitted to the vehicle when purchased. Any vehicle returned that does not meet the Vehicle Return Standard will be repaired at the cost of the Lessee to the extent that the refurbishment expense is warranted. This includes replacing any missing equipment or accessories. In unusual circumstances the level of repair may be negotiated with State Fleet.