Modify Header Lease

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Definition of Active Lease. Active Lease means a Lease before the Collection Period that includes its Termination Date. ... Active Lease means any Lease that is designated on the internal system of Seller or Service, as applicable, as Active.
Written or implied contract by which an owner (the lessor) of a specific asset (such as a parcel of land, building, equipment, or machinery) grants a second party (the lessee) the right to its exclusive possession and use for a specific period and under specified conditions, in return for specified periodic rental or ...
When you lease a property the agreement is for a fixed term (period of time). When it is “up” it means that that term is over: your time has run out. “Up” is generally used to mean that a period of time has expired.
A lease is typically for a specific term for a specific total amount of money. For example, a 12-month lease at $1000/month, is a lease for $12,000 at term. If you break the lease after 7 months, you would still owe the landlord $5000. A month-to-month lease at $1000/month is simply that. A lease for a total of $1000.
Lease Term Definition. Defined as the period of time in which a contracted lease is in place, lease term establishes the time period to both the lessee and lessor. ... Additionally, a lease can cover either material or non-material property.
An apartment for lease is basically the same thing as an apartment for rent. A lease is a contract between a landlord and a tenant. It defines the requirements for the tenant to rent the apartment and acknowledges the landlords responsibilities for keeping the apartment in a livable condition.
Lease vs Rent Key differences Lease is taken when a business doesn't have ample fixed capital, and at the same time wants to use the asset but doesn't want to pay for it. Rent on the other hand is taking a property for a monthly fee. ... Rental agreement has two parties as well landlord and tenant.
The Difference Between Lease and Rent: Housing The difference between lease and rent is that a lease generally lasts for 12 months while a rental agreement generally lasts for 30 days. ... Some landlords offer six-month, 18-month or 24-month leases, but a year's lease is standard.
A lease is a contractual arrangement calling for the lessee to pay the lessor (owner) for use of an asset. Renting, also known as hiring or letting, is an agreement where a payment is made for the temporary use of a good, service or property owned by another.
A major difference between leasing and renting vehicles is the time frame of use. Leasing a vehicle is a longer-term commitment, through which you use the car as a regular vehicle for personal use. Similar to buying a car and getting a loan, you pay the lease until you want to buy the vehicle or lease another car.
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