Common use of WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS Clause in Contracts

WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS. Security interest We have a security interest in the property and the land described below under the heading SECURITIES to secure performance of your obligations under this Agreement and the payment of money payable under this Agreement. If we hold a security interest in personal property, we will register our interest on the Personal Property Securities Register. If we hold a security interest in land, we will register a mortgage with Land Information New Zealand. The security interest secures the repayment of all money you owe us and the performance of all of your obligations to us, under this Agreement and any Collateral Document. The security interest gives us direct rights in the relevant property which we can exercise if you fail to meet your commitments under this Agreement, including if you grant a security interest over the same property to another person. These rights include the right to repossess and sell this property or land. If the proceeds of sale do not repay the Loan in full, you will remain liable to repay the outstanding balance. We confirm that no disabling devices will be fitted to any secured property. Default interest and default fees If an Event of Default occurs under Clause 11.2 (a) of the General Terms, or if at any time the Maximum Amount or Maximum Credit Limit is exceeded, and while the relevant event continues, you may be charged Interest at the Default Rate on the unpaid amount or excess, as the case may be, and be charged the Fees as specified below. The Default Rate is .00% per annum above the annual interest rate. A default fee of $0.00 is charged for any breach by you under this Agreement or if we enforce this Agreement. The default fees and charges compensate us for the costs incurred by us in connection with enforcement or the remedy of a breach under this Agreement. Such costs could include debt collection and repossession fees.

WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS. Security interest We have a security interest(s) This is secured credit. If you fail to meet your commitments under the contract, the lender may be entitled to repossess and sell the property. The lender has an interest in the property and the land described listed below under the heading SECURITIES to secure performance of your obligations under this Agreement and the contract, or the payment of money payable under this Agreementthe contract, or both. If we hold a security interest in personal property, we will register our interest on the Personal Property Securities Register. If we hold a security interest in land, we will register a mortgage with Land Information New Zealand. The security interest secures the repayment of all money you owe us and the performance of all of your obligations to us, under this Agreement and any Collateral Document. The security interest gives us direct rights in the relevant property which we can exercise if you fail to meet your commitments under this Agreementthe contract, including if you grant a then to the extent of the security interest over interest, the same property to another person. These rights include the right lender may be entitled to repossess and sell this property. The extent to which your obligations are secured to the property or landnoted below is the unpaid balance of your account. Motor Vehicle Registration : Make & Model : Year : Colour : VIN : If we sell the motor vehicle after we repossess it, and the net proceeds of sale do are not enough to repay what you owe us (the Loan in fullunpaid balance), you will remain liable to repay owe us the outstanding balancedifference. We confirm may recover that no disabling devices amount from you. Whoever owns the motor vehicle (you or a co-borrower or both) may not give security over the motor vehicle to any other person and, if the owner does so, the owner will be fitted in breach of this agreement and we may repossess and sell the motor vehicle. In the event of a default in payment and while the default continues you must pay the default interest charges. In the event of a breach of the contract or on the enforcement of the contract, the default fees specified below are payable. Your credit contract may allow the lender to any secured propertyvary these fees and charges. Default interest and default fees If an Event of is charged from the time you fail to make a due payment until the arrears are paid. Default occurs under Clause 11.2 (a) interest charges are calculated by multiplying the amount in arrears at the end of the General Terms, or if at any time the Maximum Amount or Maximum Credit Limit is exceeded, and while the relevant event continues, you may be charged Interest at the Default Rate on the unpaid amount or excess, as the case may be, and be charged the Fees as specified below. The Default Rate is .00% per annum above the annual day by a daily default interest rate. A The daily default interest rate is calculated by dividing the annual default interest rate by 365. Interest is charged to your account weekly. Annual Default Interest rate is 30%. Default Fees: • Defaulted payment fee of $0.00 30.00 debited if any scheduled payment into your account from your bank is charged for made late after the date due, or is reversed or is not made. • Letter fee of $30.00 any breach by time we have to write to you with regard to a missed payment(s) or in relation to any other default you commit under this Agreement or if we enforce this Agreementagreement. The default fees and charges compensate us for the costs incurred by us in connection with enforcement or the remedy These include: reminder letter, repossession warning notice, repossession notice, dishonor letter, non-payment of a breach under this Agreement. Such costs could include debt collection and insurance premium letter, post repossession feesnotice, account after sale notice.

WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS. Security interest This is a secured loan. We will have a security interest in the property and Property described on the land described below under the heading SECURITIES to secure performance of your obligations under this Agreement and the payment of money payable under this Agreementfront page. If we hold a security interest in personal property, we will register our interest on the Personal Property Securities Register. If we hold a security interest in land, we will register a mortgage with Land Information New Zealand. The security interest secures the repayment of all money you owe us and the performance of all of your obligations to us, under this Agreement and any Collateral Document. The security interest gives us direct rights in the relevant property which we can exercise if you fail to meet your commitments under this Agreementcontract, including we may be entitled to repossess and sell the Property. If we sell the Property and there is not enough money after the sale to cover what you owe us, you will, or may, remain indebted to us for the amount you would still owe. You should also note that if you grant give someone else a security interest over the same property to another person. These rights include the right to Property you will be in breach under this contract and we may repossess and sell the Property and/or we may do anything else as set out in clause 13 of the General Terms of this property contract. Default interest charges and default fees In the event of a default in payment and while the default continues you must pay the default interest charges. In the event of a breach of this contract or landon the enforcement of this contract, the default fees specified below are payable. The General Terms of this contract allow us to vary these fees and charges. Default interest is 5.00% over the annual interest rate or 18.00% p.a. whichever is the greater, and this default interest rate is payable in the event of a default in payment and while the default continues. Default fees: $ 16.00 Payable if any payment is dishonoured or reversed or unpaid $ 20.00 Payable on issue by us of a repossession warning notice $ 100.00 Payable on issue by us of a repossession warrant to our repossession agent $ 50.00 Payable on issue by us of a post-repossession notice $ 10.00 Payable on issue of a Notice of Demand under an unsecured facility $ 50.00 Payable on a Service of Demand under an unsecured facility If you pay the proceeds of sale do not repay unpaid balance in full before the Loan in fullfinal payment is due (full prepayment), you will remain liable need to repay pay us the outstanding balance. We confirm that no disabling devices will be fitted to any secured property. Default interest and default fees If an Event of Default occurs under Clause 11.2 (a) amount which is calculated at 90 percent of the amount derived by multiplying the total interest charges (as shown in this Disclosure Statement) by the sum of all the whole numbers from one to the number which is the number of complete months in the period of the contract still to go (both inclusive) and by dividing the product so obtained by the sum of all the whole numbers from one to the number which is the total number of complete months in the period of the contract (both inclusive). On every full prepayment an administrative charge of $200.00 is payable by you. The General TermsTerms of this contract allow us to vary this charge. The methodology for the calculation of any loss and working examples are set out in the “Full Prepayment Loss Schedule”, or if at any time the Maximum Amount or Maximum Credit Limit which is exceeded, and while the relevant event continues, you may be charged Interest available at the Default Rate on the unpaid amount or excess, as the case may be, and be charged the Fees as specified below. The Default Rate is .00% per annum above the annual interest rate. A default fee of $0.00 is charged for any breach by you under this Agreement or if we enforce this Agreement. The default fees and charges compensate us for the costs incurred by us in connection with enforcement or the remedy of a breach under this Agreement. Such costs could include debt collection and repossession feesfollowing site: ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇.▇▇.▇▇/toyota-finance-leasing/toyota-finance-rule-of-78/.

WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS. Security interest We have a security interest in the property and the land described below under the heading SECURITIES to secure performance of your obligations under this Agreement and the payment of money payable under this AgreementThis is secured credit. If we hold a security interest in personal property, we will register our interest on the Personal Property Securities Register. If we hold a security interest in land, we will register a mortgage with Land Information New Zealand. The security interest secures the repayment of all money you owe us and the performance of all of your obligations to us, under this Agreement and any Collateral Document. The security interest gives us direct rights in the relevant property which we can exercise if you fail to meet your commitments under this Agreementthe contract, including if you grant a then to the extent of the security interest over the same property lender may be entitled to another person. These rights include the right to sell or repossess and sell this property or land. If the proceeds of sale do not repay the Loan in full, you will remain liable to repay the outstanding balance. We confirm that no disabling devices will be fitted to any secured property. Default Security The security interest and default fees If an Event of Default occurs under Clause 11.2 (a) in the collateral is as defined in section 17 of the General Terms, or if at any time the Maximum Amount or Maximum Credit Limit is exceeded, Personal Property Securities Act 1999 and while the relevant event continues, you may be charged Interest at the Default Rate on it secures payment of all the unpaid amount balance and performance of all the collateral owner’s obligations under this contract (or excess, the guarantee as the case may be) to the extent of the value of the collateral. If we sell collateral after we repossess it, and the net proceeds are not enough to repay what you owe us (the unpaid balance), you and any guarantor will owe us the difference. We may recover that amount from you and any guarantor. Whoever owns the collateral (you or a co-borrower or a guarantor) may not give security over the collateral to any other person or company and, if the owner does so, the owner will be charged in breach of this agreement and we may repossess and sell the Fees as collateral. Default interest charges and default fees In the event of a default in payment and while the default continues you must pay the default interest charges. In the event of a breach of the contract or on the enforcement of the contract, the default fees specified belowbelow are payable. The Your credit contract may allow the lender to vary these fees and charges. Default Rate interest. Default interest is .0045% per annum above charged on any overdue instalment or overdue amount other than the annual unpaid balance. Default interest is charged from the time that you fall into financial default until you are no longer in financial default. It is calculated by multiplying the overdue instalment or overdue amount by the daily default interest rate. A The daily default interest rate is calculated by dividing the annual default interest rate by 365. All default interest is debited to your account monthly. If we accelerate payment (call up payment early) of the unpaid balance we will only charge you default interest on the overdue instalments. Default fees. 1 Defaulted payment fee of $0.00 15.00 if any scheduled payment to the lender is made late after the date due, or is reversed or dishonoured or is otherwise not made without our being in default. If you miss an instalment we will charge you this fee. 2 Mileage fee if a staff member of ours travels to visit you or any guarantor or to attend any meeting or any court or tribunal. Mileage may be charged at the current rate recommended by the Automobile Association for a 2 litre petrol engined motor car. 3 $160.00 to send you are repossession warning notice 4 $180.00 to issue a warrant to seize goods 5 $100.00 to send a post-repossession notice 6 $150.00 to send a post sale notice. 7 The costs to us of Court or Disputes Tribunal proceedings and repossession and sale of collateral. These include filing fees actual solicitors fees and disbursements (assessed on a solicitor client basis) and debt collection agency commissions, fees and disbursements. Additionally you must pay us the costs and disbursements of repossession agents, valuers, auctioneers, process servers and any of our agents in enforcing this agreement. We will also charge you for any breach by dealings (we have while you under this Agreement are in default) with other persons with respect to the debt or if any security you (may) provide. In addition we enforce this Agreementwill charge you the cost of doing anything which you have failed to do and which we have done. The default fees and charges compensate us You will also be charged for the costs incurred expenses and other liabilities listed in clause 9d below of the “operative terms” arising out of your default. We do not charge a fee for our loss on full prepayment. You only need to pay our administrative costs relating to the full prepayment. Administrative Costs/fees $100 for our staff’s work associated in receiving the request for and processing the full prepayment and in discharging or releasing any security. This may change if you ask for a full prepayment figure more than once. (Any amounts we have to pay for security release are additional) You are entitled to cancel the consumer credit contract by us giving notice to the creditor. Time limits for cancellation • You must give notice that you intend to cancel a contract within 5 working days of the statement date on the front of this document. Saturdays, Sundays, and national public holidays are not counted as working days. How to cancel To cancel you must give the creditor written notice that you intend to cancel a contract by – • giving notice to the creditor or an employee or agent of the creditor; or • posting the notice to the creditor or an agent of the creditor; or • emailing the notice to the creditor’s email address (if specified on the front of this disclosure statement); or • sending the notice to the creditor’s fax number (if specified on the front of this disclosure statement). If you cancel the contract the creditor can charge you the amount of any reasonable expenses the creditor had to pay in connection with enforcement the contract and its cancellation (including legal fees and fees for credit reports, etc). If you cancel the contract, the creditor can also charge you • interest for the period from the day you received the advance until the day you repay the advance and • If any returned property has been damaged while in your possession, the costs of repairing the damage. If you are unable reasonably to keep up your payments or other obligations because of illness, injury, loss of employment, or the remedy end of a breach under this Agreementrelationship or other reasonable cause you may be able to apply to the creditor for a hardship variation. Such costs could include debt collection and repossession fees.To apply for a hardship variation, you need to: