Finance Leases. These are similar to hire purchase agreements. The lessee (the person who leases the equipment from someone else) is responsible not just for maintaining the equipment but also for insurance, repairs and so on. At the end of the lease the equipment becomes the property of the lessee. The costs of leasing equipment under a finance lease are not eligible. Rather, the item leased should be treated as a fixed asset and depreciated (the loss in its value) in line with the organisation’s accounting policy.
Finance Leases. (a) The Company is not and has not been the lessee under any leases of plant or machinery save for the leases specified in the Disclosure Letter (the "Leases").
Finance Leases. (1) The Seller has made available to the Buyer copies of all forms of leases currently used by the Seller for leases originated by the Seller.
Finance Leases. For purposes of the calculations above for any leased theatre which lease is characterized as a finance lease, the rent expense otherwise treated as principal and interest under GAAP shall be treated as a rent payment; provided, for the purposes of the foregoing calculations:
Finance Leases. The Company is not a lessee under a lease to which the provisions of Schedule 12 to the FA 1997 apply or could apply.
Finance Leases. The Company is not a lessee under a lease to which the provisions of Schedule 12 F.A. 1997 apply or could apply.
Finance Leases. Each Assignor will, with respect to any Lessee that leases a Pledged Container or a Pledged Chassis pursuant to a Finance Lease, take the following actions by not later than thirty (30) days following the related Funding Date:
Finance Leases. The Debtor will, at its own expense, with respect to any Lessee that leases an Eligible Container pursuant to a Finance Lease, take the following actions by not later than ninety (90) days following the later of (a) the Closing Date and (b) the date such Finance Lease was entered into (if after the Closing Date):
Finance Leases. The Company is not and has not been the lessee under any leases of plant or machinery except for the Leases. DISTRIBUTIONS
Finance Leases. There are set out in the Disclosure Letter, with express reference to this paragraph, details of each finance lease to which the Company is or has been party as the lessor or lessee. For the purposes of this paragraph “finance lease” means any arrangements for the leasing of an asset which fall for the purposes of the accounts of the Company to be treated in accordance with normal accountancy practice as a finance lease or loan.
