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. 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. 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 and has not been the lessee under any leases of plant or machinery except for the Leases. DISTRIBUTIONS
Finance Leases. The 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. Leased property that meets the conditions to be classified as a finance lease is capitalized at the purchase value as at the date of the lease. Each lease payment is broken down between the payable (capital amortization) and the financial cost so as to determine a constant interest rate on the remaining amounts due. The present value of lease payments is reported as finance leases liabilities. The part of the lease payment corresponding to the interest is reported under expense over the duration of the finance lease. Property, plant and equipment acquired under a finance lease is amortized over the duration of use. Lease payments due in more than one year's time are reported as Debts related to finance leases - non-current; those due in under one year are reported as Debts related to finance leases - current. Note 2.5 : Financial assets Financial assets at fair value through profit or loss This category includes marketable securities, cash and cash equivalents. They represent financial assets held for trading purposes, i.e., assets acquired by the Company to be sold in the short-term. They are measured at fair value and changes in fair value are recognized in the statement of operations as financial income or expense, as applicable. Financial assets at amortized cost This category includes Other financial assets (non-current), Trade receivables (current) and Other receivables and related accounts (current). Other financial assets (non-current) include advances and deposits granted to third parties as well as term deposits, which are not considered as cash equivalents. Financial assets at amortized cost primarily consist of deposits and guarantees, restricted cash, trade receivables, other receivables, conditional advances and loans. They are non-derivative financial assets with fixed or determinable payments that are not listed on an active market. They are initially recognized at fair value plus transaction costs that are directly attributable to the acquisition or issue of the financial asset, except trade receivables that are initially recognized at the transaction price as defined in IFRS 15. After initial recognition, these financial assets are measured at amortized cost using the effective interest rate method when both of the following conditions are met:
Finance Leases. 7.1 To the extent any new or replacement assets are purchased outright as a tangible (fixed) asset (or leased under a finance lease) where such class of asset had previously been acquired under an operating lease, an adjustment to EBITDA will be made to account for the asset as if it had been acquired under an operating lease, and conversely, to the extent any new or replacement assets are acquired under an operating lease, where such class of asset had previously been purchased outright as a tangible (fixed) asset (or leased under a finance lease), an adjustment to EBITDA will be made to account for the asset as if it had been acquired as a tangible (fixed) asset; provided however, to the extent any changes in purchasing and leasing practices are contemplated by the Business Plan, no adjustment shall be made.
