Purchase Option at End of Initial Lease Term. You will have an option to purchase the Leased Property
at the end of the initial lease term for a fee of $X,XXX.XX (tax exclusive).
Other Important Terms. See the full terms of the Lease Agreement for additional information on early
termination, purchase options for the Leased Property, your maintenance responsibilities, your rights,
warranties, and obligations under the Lease, late and default charges, insurance, and any security
interest, if applicable. You may be able to change your payment due date on the Klarna app subject to
qualification and availability.
Additional Disclosures
Official Lease Taxes: This estimated lease tax will be included in your monthly payment. For a detailed
breakdown of your monthly payment with Klarna (including any discounts or trade-in credits), see
Appendix B.
No Insurance Requirement: This Lease does not require you to obtain a service contract or insurance.
No Security Interest: This Lease does not include or create any security interest.
Trade-In Devices: Except as otherwise provided in the Lease Agreement, if you provide a trade-in device
that you own in connection with this Lease (your “Trade-In Device”), you authorize Apple to transfer any
trade-in credit associated with your Trade-In Device to Klarna and agree the value of your Trade-In Device
will be allocated and credited to your monthly payments for the initial lease term. Any applicable taxes
will be allocated and applied to your monthly payments for the initial lease term. If the value of your
Trade-In Device exceeds the total monthly payments for the initial lease term, you will receive an Apple
gift card via email for the excess value. In this instance, monthly payments due during the initial lease
term will consist solely of applicable taxes.
If the value of your Trade-In Device is determined to be lower than the estimated value at the time you
sign the Lease Agreement, you don’t provide your Trade-In Device within 14 days of receiving the Leased
Property, or your Trade-In Device is deemed to have no value, you may be charged for the difference
in value or for any credits applied to any monthly payments already paid, and your subsequent monthly
payments and any applicable taxes may change.
Purchase Option: You have an option to purchase the Leased Property before the end of the initial lease
term and during the Extension Period for the Purchase Option Fee (as described in the “Lease Options”
section of the Lease Agreement).
Early Termination and Default: If you terminate this Lease before the end of the initial lease term, you
may be subject to substantial charges. You will be obligated to pay up to all remaining unpaid monthly
payments, plus applicable taxes, return the Leased Property, and pay for any damage to the Leased
Property beyond reasonable wear and use allowed for in the Lease Agreement (or, alternatively, an
AppleCare service fee if you separately enrolled in an AppleCare plan for the Leased Property). If the
Lease is terminated before the end of the initial lease term in connection with an authorized return of the
Leased Property or other reasons permitted by the Lease, you may not be obligated to pay all remaining
monthly payments. We may terminate this Lease at any time in the event of your default. In such cases,
you will be responsible for all monthly payments, in addition to any other default remedy described in this
Agreement. See the “Lease Payments and Initial Lease Term” section of this Agreement for additional
information. You have no liability at early termination or at the end of the lease term for the difference
between the residual value of the Leased Property and its realized value.
Lost or Stolen Device: If your device is lost or stolen, you will be obligated to pay your monthly payments
through the initial lease term and the Extension Period, after which you will be charged the Purchase
Option Fee.
Standards for Wear and Use: When you are required to return the Leased Property, you must return the
Leased Property in good physical and operational condition, as described in the Lease and as reasonably
determined by Apple or its trade-in service providers, to avoid being charged damage fees.
Maintenance: You are responsible for maintaining the Leased Property such that it remains in good
physical and operational condition as described in the “Maintenance” section of the Agreement. Any
service performed on the Leased Property must be performed by Apple or an Apple Authorized Service
Provider.
Warranties: The Leased Property is subject to the Apple One (1) Year Limited Warranty as further
described in the “Warranties” section of this Agreement.
Late Payments: There are no late fees.
IF YOU DO NOT MEET YOUR OBLIGATIONS UNDER THE AGREEMENT, WE MAY EXERCISE OUR RIGHTS UNDER THE “DEFAULT AND REMEDIES” SECTION OF THE AGREEMENT.
LEASE PAYMENTS & INITIAL LEASE TERM
This section explains your payment obligations, the initial lease term, and events of default under this Lease.
Promise To Pay
You promise to make all of the payments owed under this Lease (including all fees, taxes, or any other
amounts owed) (each, a “Lease Payment”). The amounts shown in the Federal Consumer Leasing Act
Disclosures above are estimates based on information available as of the Signing Date.
Lease Payments
The initial payment for this Lease, which is due at lease signing, consists of your down payment (if any).
Your first monthly Lease Payment will be due one month after the Leased Property ships or is available
for pickup. Thereafter, your monthly Lease Payments will be due on the same day of the month (or the
last day of the month if any month does not have such day) in each subsequent month until termination
of this Lease.
You must provide a valid payment method during checkout when you enter into this Lease. This payment
method will be automatically associated with your user account (“Klarna User Account”) and all Lease
Payments will be charged to this payment method. You can change your payment method at any time in
the Klarna app (or by other methods provided to you). By entering into this Lease, you agree to Klarna’s
Recurring Payment Authorization Policy, which is attached to this Lease as Appendix A.
The taxes applicable to the Lease Payments may change if you change the billing address associated
with your payment method or the shipping address for the Leased Property or if tax rates or regulations
change. You may view the amount of your monthly Lease Payments at any time in the Klarna app (or by
other methods provided to you).
Initial Lease Term
This Lease has an initial term of 36 months, beginning the date the Leased Property is shipped or made
available for pick up. By the end of the initial lease term, if you do not exercise the Termination Option,
elect to purchase the Leased Property and pay the Purchase Option Fee, or Upgrade (if available), this
Lease automatically enters the Extension Period, as described in the “Lease Options” section of this
Agreement.
Default And Remedies
You will be in default under this Lease if:
• you fail to pay any Lease Payment when due;
• you give any false or misleading information in your Lease application;
• you lose possession of the Leased Property by confiscation, forfeiture, or other involuntary transfer
(whether or not the Leased Property is the subject of judicial or administrative proceedings);
• you assign, or attempt to assign, this Lease or transfer, or attempt to transfer, the Leased Property
without our prior written permission;
• you initiate a bankruptcy, receivership, or insolvency proceeding or one is initiated against you or your
property;
• you fail to return the Leased Property when this Lease requires;
• your use of the Leased Property violates applicable law;
• you are declared legally incompetent or you die; or
• you fail to meet any other obligation under this Lease.
If you are in default, after providing you any notice and waiting any time required by applicable law, we
may do any of the following:
• terminate this Lease and require you to return the Leased Property and pay the Early Termination Fee,
if applicable, as described below;
• take certain actions we believe are required to protect our interest in the Leased Property, subject to
applicable law;
• subject to certain exceptions, repossess the Leased Property;
• subject to certain exceptions, file a civil action against you; or
• pursue additional actions permitted by applicable law.
We will exercise our rights without breach of the peace, at reasonable times and places, in a reasonable
way, as permitted by applicable law. If we repossess the Leased Property, we will hold it free of any rights
you may have under this Lease and may delete any data on the Leased Property, subject to any right you
have under applicable law to cure the default or recover the Leased Property. You will pay our reasonable
expenses of taking these actions as permitted by applicable law, which may include expenses of taking
and storing the Leased Property. If we have to pay someone to help us collect any Lease Payments you
owe us, we will add the amount we have to pay to the amount you owe us, which may include reasonable
fees for attorneys who are not our salaried employees and court costs, unless prohibited by applicable
law.
If you default on this Lease, it may impact your ability to use or be approved for other Klarna services.
