Vehicle Repossession Sample Clauses
The Vehicle Repossession clause grants a lender or lessor the right to take back possession of a vehicle if the borrower or lessee defaults on their payment obligations or otherwise breaches the agreement. In practice, this means that if payments are missed or contract terms are violated, the lender can reclaim the vehicle without needing to go through lengthy court proceedings, often after providing notice or following specific legal procedures. This clause serves to protect the lender’s financial interest in the vehicle and provides a clear remedy in the event of default, thereby reducing the risk of loss due to nonpayment.
Vehicle Repossession. Globe may repossess the vehicle at my expense without warning if the vehicle is found illegally parked, apparently abandoned, used in violation of law or of this Agreement, if I am not reachable, in arrears, or if the vehicle has been used for a prohibited use. To the extent permitted by law, I waive any of my rights to a hearing or to receive any notice or legal process as a pre-condition for Globe recovering the vehicle. Upon return, if the vehicle requires more than Globe’s standard cleaning or there is evidence of smoking, Globe may charge an additional fee to have the vehicle cleaned.
Vehicle Repossession. Globe may repossess the vehicle at my expense without warning if the vehicle is found illegally parked, apparently abandoned, used in violation of law or of this Agreement, if I am not reachable, in arrears, or if the vehicle has been used for a prohibited use. To the extent permitted by law, I waive any of my rights to a hearing or to receive any notice or legal process as a pre-condition for Globe recovering the vehicle.
Vehicle Repossession. If Lender repossesses the Vehicle, the following applies:
Vehicle Repossession. National or its authorized agent may repossess the Vehicle without notice at your expense if the Vehicle is found illegally parked, apparently abandoned, used in violation of law or the Agreement, or used for another Prohibited Use (defined in Paragraph 12). Renter and Authorized Drivers hereby waive all claims for damages connected with such repossession, including loss or damage to contents, and shall pay all expenses incurred by National in returning Vehicle to the original rental office.
Vehicle Repossession. You may repossess the Vehicle without demand at my expense if the Vehicle is found illegally parked, apparently abandoned, used in violation of law or of this Agreement, or for a Prohibited Use.
Vehicle Repossession. Servicer shall coordinate all activities related to the repossession of vehicles securing the Receivables in accordance with the Servicing Standard and Applicable Law. If repossession of a vehicle becomes necessary for any account, Servicer will either repossess the vehicle itself or outsource repossession to a state-recognized and bonded repossession agent to be selected by Servicer, all in accordance with the Servicing Standard and Applicable Law.
Vehicle Repossession. Each clause, term, provision, covenant, representation, warranty and/or other agreement that is contained in the Agreement and/or any of the Ancillary Documents that requires Dealer to repossess or otherwise gain possession of a Vehicle at the request of or on behalf of the Company is amended to only require Dealer to receive and process Vehicles that are voluntarily returned by the Customer or that are returned to the lessor at the end of the lease term.
Vehicle Repossession. PacLease or its representative may, with or without notice to Customer and subject to applicable law, enter the premises where any Vehicle is located, take possession of and remove it. In the event PacLease takes possession of or retains any Vehicle, and such Vehicle contains any property, goods or things of value belonging to Customer or in the custody or control of Customer, PacLease is authorized to take possession of and remove such items and will return such items to Customer at Customer’s expense. • Remedy – Sale or Lease of Vehicles. Without relieving Customer of any obligations or waiving any of PacLease's rights, PacLease may hold, lease or sell any Vehicle(s) at such time, place and in such manner and at such price and on such other terms determined by PacLease. Customer will be liable to PacLease for any amount by which the net sale proceeds of a Vehicle are less than the Early Termination Value of such Vehicle set forth in the applicable Schedule A Agreement. If any such Vehicle(s) are leased to a third party, Customer will be liable to PacLease for any reduction of income under the new leases.