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7.6 Removal of accessories
(a) You may remove any accessories you fitted to the vehicle at your expense during the
term of your lease. Accessories purchased by you not removed by you prior to the return
of the vehicle will become our property and you will not be entitled to make any claim
against us in respect of those accessories.
(b) If you remove accessories, you will be liable for, and must make good to our satisfaction
any damage to the vehicle as a result of the removal.
7.7 What happens if at the end of the lease term or any additional term I do not return the
vehicle on its scheduled expiry date, or I do not elect to either extend the lease or
purchase the vehicle?
(a) Your lease will be automatically extended for additional terms of 12 months each, unless
we notify you that we require the vehicle to be returned. A fee will apply for each
additional term. Your lease will be adjusted to reflect the new residual value as well as
the new monthly rental and except for these two items, the other terms and conditions of
your lease continue, unless otherwise specified in your settlement annexure.
Important Note: Some of our settlement annexures vary the operation of this clause.
If this applies to your lease it will be contained in your settlement annexure in S1
under the heading Exception to standard terms.
(b) The automatic extension of your lease for additional terms shall continue until such time
as you return the vehicle to us.
Important Note: Despite the fact that your failure to return the vehicle at the
scheduled expiry date will result in an automatic extension of your lease, we can
nevertheless notify you that you must comply with your obligations to return the
vehicle to us.
Upon receipt of our notification to return the vehicle, you must ensure that you return
the vehicle to us on the day required by us. If you then fail to return the vehicle to us,
you will be in breach of your lease, and we may take action to repossess the vehicle
as well as rely upon any of our other rights under this agreement.
7.8 Settlement procedure: How is the net settlement amount calculated at the scheduled
expiry date?
At the scheduled expiry date we shall calculate the net settlement amount in accordance with
the provisions of the settlement annexure.
8. EARLY TERMINATION OF YOUR LEASE
This section sets out the circumstances in which your lease may be terminated prior to the scheduled
expiry date and your rights and obligations in the event of early termination.
Important Note: All clauses in the Termination of Your Lease at the Scheduled Expiry Date
section of this agreement will (with any necessary modification) apply equally to this section, and in
particular those parts which relate to:
the return of the vehicle;
condition of the vehicle upon return;
repair and restoration of the vehicle;
removal of accessories from the vehicle; and
settlement procedure.
Employee Vehicle Lease Agreement Page 4
source: leaseplan.com.au
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