If you are a Lessee, your lease agreement probably contains a clause prohibiting you from letting someone else take over the lease without the landlord's consent. Most do. This is to protect the landlord from suddenly having new lessee... lessee who may or may not make timely rental payments. Here...
This equipment lease ("Lease") is made and effective [Date], by and between [Lessor], ("Lessor") and [Lessee] ("Lessee"). Lessor desires to lease to Lessee, and Lessee desires to lease from Lessor, certain tangible personal property. Now, therefore, in consideration of the mutual covenants and promises hereinafter set forth, the parties hereto...
A lease is a legal document, but can be an oral arrangement, which confers a right on one person called a tenant or lessee to possess property belonging to another person called a landlord or lessor to the exclusion of the owner landlord. This is a template for an assignment...
The use of a multi-property lessor in a synthetic leasing transaction may cause the lessee to seek to take special precautions to minimize the negative implications of a subsequent lessor bankruptcy. However, requiring the multi-project lessor to grant a security interest in the lessee's option right to purchase the property,...
This article is basically a case study. ABC Lessee has the right to purchase equipment at the end of its lease term for fair market value, as determined by the third party appraisal process after having provided the necessary notice to its lessor. The lessee provides timely notification to it...
In Revenue Ruling 2001-20, the Internal Revenue Service stated that a lessee can exclude from income a construction allowance used to construct or improve property even though the amount was less than the allowance specified in the lease. The requirement that the lease specify the amount of the construction...
This article discusses Sections 2A-527 and 2A-528 of the Uniform Commercial Code, providing the starting point from which one can begin to review the rights to damages a lessor has when a lessee defaults on a lease agreement for personal property and the damages are not otherwise covered by a...
This presentation aims to discuss accounting treatment for leases. According to FASB statement No.13, a lease is defined as “an agreement conveying the right to use property, plant, or equipment for a stated period of time”. It discusses few provisions such as: 1. A lease involves a lessee and a...
The article says that It is necessary for the lessee to first apply FASB I 46 to evaluate its relationship with the lessor, and in that respect FASB I 46 takes precedence over SFAS 13 and its many amendments. This is because, if FASB I 46 requires the lessee to...
A synthetic lease is a financing arrangement that is classified as a lease for financial accounting purposes and as a loan for tax purposes. This type of financing arrangement is attractive to a lessee/borrower because the lessee achieves off-balance sheet accounting treatment for its debt but retains the tax benefits...
The Supreme Court of Kansas upheld as enforceable a lease agreement providing that a tenant was entitled to a portion of a lessee's condemnation award to compensate the tenant for lost profits. The Supreme Court of Kansas upheld as enforceable a lease agreement providing...
BETHESDA, Md. -- LaSalle Hotel Properties (NYSE:LHO) today announced that it has successfully increased its senior unsecured credit facility to $300.0 million from $215.0 million. The facility will continue to be co-led by Bank of Montreal, as the Administrative Agent, and Bank of America, as the Syndication Agent. In addition,...
Underground storage tank investigators from the Environmental Protection Agency EPA are targeting petroleum marketers in the South, citing at least one jobber and two lessee dealer locations for not having the required equipment installed and for i Underground storage tank investigators from the Environmental Protection...
Leasing an auto for business is cheaper this year, thanks to IRS. If an automobile worth more than $18,000 is leased for business in 2003, the lessee must include an amount in income each year from IRS tables. Last year, the income imputation for les Leasing...
In January 2003, FASB issued Interpretation No. 46, Consolidation of Variable Interest Entities. FASB I 46 supersedes EITF 90-15 which previously was used to determine whether a lessee, under an operating lease, was required to consolidate a "nonsubstantive" lessor. It is necessary for the lessee to first apply FASB I...
DETROIT--AutomotiveWire--Jan. 2, 1996--Leasing continues to hold the high ground in terms of keeping consumers loyal to a brand, according to an Oregon research company.
LEASES--Apr. 7--Oracle Corp. leased 262,500 square feet of office space at 10 Twin Dolphin Drive, Redwood City, from Daniel Realty. The lessee develops relational data-base management software and has taken occupancy. Blickman Turkus Commercial IndustrLEASES--Apr. 7--Oracle Corp. leased 262,500 square feet of office space at 10...
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