Inception of the lease definition

Inception of the lease means the date of the lease agreement or commitment, if earlier, or the date the lease is purchased by the state bank. For purposes of this definition, a commitment shall be in writing, signed by the parties in interest to the transaction, and shall specifically set forth the principal terms of the transaction. However, if the property covered by the lease is a fixture yet to be constructed or has not been acquired by the lessor at the date of the lease agreement or commitment, the inception of the lease shall be the date that construction of the property is completed or the property is acquired by the lessor. The inception date of a lease assumed in a business combination accounted for as a purchase is the date the combination is recorded for accounting purposes.
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Examples of Inception of the lease in a sentence

  • At present, the HM Compliance BASIC scores can be seen only by to explain its relationship to the the requirements concerning 44 enforcement personnel and by a motor proposed changes in the SFD process.

  • Inception of the lease is defined in paragraph 6 of FASB Statement No. 23, Inception of the Lease, as: “The date of the lease agreement or commitment, if earlier.

  • A spectacular example of such actions was a protest on the streets of Seattle during the ministerial conference of the World Trade Organization (WTO) in 1999.

  • Assets held under finance leases are recognised as assets of the Group at their fair value at the Inception of the lease or, if lower, at the present value of the minimum lease payments.

  • Inception of the lease is defined in paragraph 6 of FASB Statement No. 23, Inception of the Lease, as “the date of the lease agreement or commitment, if earlier.

  • Inception of the lease The inception of the lease is considered to be the date of the lease agreement, or the date of commitment, if earlier.

Related to Inception of the lease

  • Master Lease means any master lease now or hereafter entered into, in which the Healthcare Facility is aggregated with other HUD-insured healthcare facilities and leased to a Master Tenant and any amendments or joinders thereto.

  • Date of commencement of the project means the date of the agreement.

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Original Project means the Project described in the Original Financing Agreement.

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • Existing Lease shall have the meaning assigned thereto in Section 10.7.

  • Commencement Date means the date of this Agreement.

  • Rural areas means any area within the county located outside the

  • Leased space means a self−service storage unit or a space located within a self−service storage facility that a lessee is enti- tled to use for the storage of personal property on a self−service basis pursuant to a rental agreement and that is not rented or pro- vided to the lessee in conjunction with property for residential use by the lessee.

  • Base Term Beginning (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on August 31, 2024.”

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;

  • Commercial Premises Means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Appendix B takes place.

  • Expansion means the addition of buildings, structures, machinery or equipment for purposes of increasing production capacity.

  • Subleased Premises means approximately -18;961 rentable square feet on the 141h floor of the Building, as more specifically depicted on Exhibit A attached hereto and made a part hereof. The Subleased Premises include all of the Leased Premises identified in the Prime Lease.