The statement names the secured party or lessor and the debtor or lessee. When the financing statement if filed by the secured party or lessor with the secretary or other appropriate public office, it becomes public record and perfects lien rights. This is a provision in a lease agreement which indicates the lessee is required to pay the lease payment for the entire term of the lease. Problems encountered by the lessee with the leased property are not valid reasons for not making lease payments. Interim Rent Rent paid for an interim period of time.
Many leases begin at the start of a period such as the first of the month.
If leased property is received and a certificate of acceptance is signed prior to that date, often there is an interim period between the acceptance and the start of the first lease rental. This period of time is called the interim term during which the interim rent is paid. The interim rent is generally calculated as a percent of the standard monthly rent prorated over the number of days in the month the lessee has use of the leased property. Generally refers to a lessee of high credit standing. A contractual financial penalty that is imposed when the delinquency of a payment due exceeds the grace period.