A signature by a person authorized by a company to obligate the company on a long-term lease. A lease provision allowing the lessee, at this option, to renew the equipment lease for a rental rate predetermined at lease inception, that is substantially lower than the expected fair market value at the date the option can be exercised. There are many leasing companies that act as brokers and receive a fee for their work. There are fewer full service leasing companies that have the ability to hold and service their leases throughout the entire term of the lease. Since there is no middleman, doing business directly with a full service lessor usually results in a lower lease rate for the lessee and a higher sale price for the vendor.
Most leases begin after the date stated on the certificate of acceptance.
A true lease in which the lessor assumes the depreciation risk. The lessee bears no obligation at the end of the lease. This term is used to distinguish the lease from an open-end lease. Two of more leases that end at the same time. A Coterminous Addendum can be used allowing you to add equipment to an existing lease, adjusting the payments to reflect the addition.