Lease Liability definition

Lease Liability of any person means the obligation of such person, as lessee, to pay rent or other payment amounts under a lease of real or personal property which is accounted for as a lease liability on a consolidated balance sheet of such person in accordance with GAAP.

Lease Liability means, with respect to any Person, any liability in respect of a Right of Use Asset that is required in accordance with GAAP to be recorded on the balance sheet of such Person in accordance with IFRS 16.

Lease Liability means, at the time any determination is to be made, the amount of the lease liability in respect of any lease that would at that time be required to be included on a statement of financial position prepared in accordance with IFRS, and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be cancelled by the lessee without payment of a penalty.

Examples of Lease Liability in a sentence

• Finance Lease Liability The School has entered into a number of finance lease agreements for computers and other ICT equipment.

• However, because the contract is held with the Council, the Finance Lease Liability is shown on our Balance Sheet.

• Lease Liability The lease liability is initially measured at the present value of the remaining lease payments at the commencement of the lease.

• Company as a lessee:Initial measurement Lease Liability: At the commencement date, a Company measure the lease liability at the present value of the lease payments that are not paid at that date.

• The adoption of this amendment is not expected to have a material impact on the Consolidated Financial Statements.Lease Liability in a Sale and Leaseback (Amendments to IFRS 16)On September 22, 2022 the IASB issued Lease Liability in a Sale and Leaseback (Amendments to IFRS 16).

• Lease Liability in a Sale and Leaseback (Amendments to IFRS 16)Beginning on January 1, 2023, the Company adopted the amendments to IFRS 16 Leases.

• Lease Liability – subsequent measurementSubsequent to initial measurement, the liability will be reduced for payments made and increased for interest.

• Lease Liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payment made and remeasuring the carrying amount to reflect any reassessment or modification, if any.

• Annual cost of lease – school portionDR – Interest ExpenseDR – Finance Lease Liability CR – Cash3.

• Lease Liability in a Sale and LeasebackIn September 2022, the IASB issued amendments to IFRS 16 – Leases (“IFRS 16”) relating to sale leaseback transactions for seller-lessees.

More Definitions of Lease Liability

Lease Liability means principal or lease payment minus interest, maintenance fees, taxes,

Lease Liability means, with respect to any Consent Required Core Store, the aggregate amount of outstanding minimum rent liability under the Lease related to such Consent Required Core Store as of October 2, 2004, as set forth opposite such Consent Required Core Store on the Acquired Stores Schedule.

Lease Liability means principal or lease payment minus interest, maintenance fees, taxes, insurance, and other fees.

Lease Liability means any liability arising in respect of any lease or hire purchase contract which would, in accordance with GAAP, be treated as a balance sheet liability.

Lease Liability the meaning specified in Section 10.2(a) hereof.