Common use of Repossession Procedure Clause in Contracts

Repossession Procedure. 2.1 The Lessor shall be entitled to immediately start repossession procedures in any case of failure by the Lessee to voluntarily handback the Vehicle to the Lessor pursuant to the Agreement and these Repossession Rules. 2.2 In case the Lessee fails to fulfil the above obligation, the Lessor shall be entitled to repossess the Vehicle in accordance with the below out-of-court procedure: 2.2.1 The Lessor shall deliver to the Lessee a Notice for the commencement of the out-of-court repossession procedure within a term of 10 (ten) days from the Default as stated in Leasing agreement; 2.2.2 If the Lessee fails to deliver the Vehicle to the Lessor within the above- mentioned term and in compliance with the instructions of the Lessee, the Lessor shall be entitled to authorize any person or authority to repossess the Vehicle wherever it may be and without further notice;