Sentences with phrase «lessee under a lease»

Against this statutory language, Lord Neuberger considered it to be clear that a lessee under a lease which includes the flat and other premises is a qualifying tenant, «according to the ordinary principles of interpretation», unless there is any clear indication to the contrary.

Not exact matches

In summary, the distinction in accounting treatment under IAS 17 is that for an operating lease, the customer lessee records only expenses, not a balance sheet item.

The term includes any contract in the form of a bailment or lease if the bailee or lessee contracts to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the property or services involved and it is agreed that the bailee or lessee may become for no other or a nominal consideration the owner of the property upon full compliance with the bailee's or lessee's obligations under the contract.

Upon such termination, the lessor may recover from the lessee: (1) The worth at the time of award of the unpaid rent which had been earned at the time of termination; (2) The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that the lessee proves could have been reasonably avoided; (3) Subject to subdivision (c), the worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that the lessee proves could be reasonably avoided; and (4) Any other amount necessary to compensate the lessor for all the detriment proximately caused by the lessee's failure to perform his obligations under the lease or which in the ordinary course of things would be likely to result therefrom.

The Secretary shall not withdraw any covered energy project issued under this Act without finding a violation of the terms of the lease by the lessee.

(Sec. 383) Allows a lessee to withhold from payment any royalty due and owing to the United States under any leases under the Outer Continental Shelf Lands Act for offshore oil or gas production from a covered lease tract if, on or before the date that the payment is due and payable to the United States, the lessee makes a payment to the state of 44 cents for every $ 1 of royalty withheld.

(1) For the purpose of this Treaty the territory of a Contracting Party shall include all territory under the jurisdiction of that Contracting Party, including air space and territorial waters and vessels and aircraft registered in that Contracting Party or aircraft leased without crew to a lessee who has his principal place of business, or, if the lessee has no such place of business, his permanent residence in, that Contracting Party if any such aircraft is in flight, or if any such vessel is on the high seas when the offense is committed.

In each case, the freeholder opposed the lease extension on the ground that the head lessee was not a «qualifying tenant» under the Act.

However, Lord Neuberger considered that the abolition of the residence test as precondition to obtaining an extended lease under LRHUDA 1993 rebuts the argument that parliament did not intend non-resident lessees to acquire the protection of the Act.

The Massachusetts Appeals Court has determined that a bank, acting as a fiduciary under a family trust, was liable for ignoring the provisions in a lease, which gave the lessee of a Cape Cod property used as a tree stump dump a right of first refusal with respect to purchase of the property.

(3) A part of the common elements of a corporation that is not a common elements condominium corporation constitutes a separate parcel for the purpose of municipal assessment and taxation if it is leased for business purposes under section 21, the lessee carries on an undertaking for gain on it and it is in the commercial property class prescribed under the Assessment Act.

[47] Either an owner or a lessee of property, other than a lessee of residential property under a lease having a term of less than one year, may assert a claim based on injurious affection...

Where land the subject of a lease under the SPLA or the CLA has been resumed compensation is payable to the lessee for:

It is useful then to consider what these systems allow the owners of land (the lessors) and the users of land under a lease (the lessees) to do.