Sentences with phrase «term lessees»

Not exact matches

Main Terms The parties to an equipment lease are the owner and the hirer, sometimes referred to as the lessor and the lessee.

Situations that would normally lead to a lease being classified as a finance lease include the following: the lease transfers ownership of the asset to the lessee by the end of the lease term; the lessee has the option to purchase the asset at a price which is expected to be sufficiently lower than fair value at the date the option becomes exercisable and that, at the inception of the lease, it is reasonably certain that the option will be exercised; the lease term is for the major part of the economic life of the asset, even if title is not transferred; at the inception of the lease, the present value of the minimum lease payments amounts to at least substantially all of the fair value of the leased asset, and; the lease assets are of a specialised nature such that only the lessee can use them without major modifications being made.

Lessee responsible for insurance during the lease term, excess wear and tear as defined in the lease contract, $ 0.25 / mile over 30,000 miles and a disposition fee of $ 350 at lease end.

Lessee pays for excess wear and mileage of $ 0.30 for each mile over 10,000 miles per year, if vehicle is returned at end of term.

Honda wants to do more research with three - year lessees to evaluate the vehicles» long - term performance, according to Bienenfield.

If a homeowner's short - term renting activity can be defined as commercial, they should strongly consider purchasing an endorsement (if their homeowners insurance company offers one) or a separate policy to cover themselves and their home while lessees stay there.

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.

If BOEM determines competitive interest in the proposed lease area no longer exists because only one potential lessee is interested in the area, BOEM may proceed with the non-competitive process and negotiate the terms of the lease directly with the interested company.

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.

With both solar leases and car leases, the lessee does not own the product, and when the term ends, has a choice of purchasing it, returning it, or signing another lease.

A Horse Lease is a useful tool for horse owners and lessees to lay out the terms of their arrangement.

This can include anything from the lease term, termination clauses, or how much upkeep you are expected to take care of as the lessee.

However, in broad terms, the lessor was likely to know what kinds of people were lessees in a particular block or estate.

The worry is reserved for the prospective lessees of a new block of 22 luxury apartments being built on Park Road alongside London's Regent's Park who will be shelling out between # 295,000 and # 420,000 for 125 - year terms.

Providing that this lease is in good standing, the lessee shall have the option to renew this lease for two additional further periods of 35 years upon giving written notice one year before the expiration of the term of this lease and the second term.

Provided that this lease is in good standing, the Lessee shall have the option to renew this lease for two (2) additional further periods of 35 years upon giving written notice one year before the expiration of the term of this lease and the second term.

Should Lessee remain in possession of the demised premises with the consent of the Lessor after the natural expiration of this lease, a new month - to - month tenancy shall be created between Lessor and Lessee, which shall be subject to all the terms and conditions hereof but shall be terminated on 58 days» or two rental periods, written notice served by either Lessor or Lessee on the other party.

[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...

When you faced with signing a Commercial Lease, either as a lessor or lessee, it is important that you fully understand the terms of the agreement into which you are entering.

Related Terms: Landlord, Lease, Residential Tenancy, Lessee, Lessor, Dominion Utile, Rent, Vassal, Tenancy, Licensee

If a homeowner's short - term renting activity can be defined as commercial, they should strongly consider purchasing an endorsement (if their homeowners insurance company offers one) or a separate policy to cover themselves and their home while lessees stay there.

Generally, Ministerial consent is required for leases for a shorter term where the lessee is not an Aboriginal person or organisation.

But the company, now the lessee, also guarantees the debt, generally structured at a short - term floating rate for five years.

The court affirmed that the property owner, who failed to go through with the lease after receiving an informal assurance from a local zoning board and an agreement with lessee as to many essential terms,...

For the most part the rental rate is determined by the amount of space available, the term remaining on the head lessee's lease, its location, configuration, amenities included, renewal and / or carryover clauses and options, and the financial situation of both parties.