Lease-purchase agreement definition

Lease-purchase agreement means an agreement for the use of personal property by an individual for personal, family or household purposes, for an initial period of four months or less, that is automatically renewable with each payment after the ini- tial period, but does not obligate or require the consumer to continue leasing or using the property beyond the initial period, and that permits the consumer to become the owner of the property.
Lease-purchase agreement means an agreement for the lease and installment purchase of a technology system project, or a portion of the project, between the commissioner, on behalf of the state, and a vendor or a third-party financing source.
Lease-purchase agreement means any agreement between a public entity and any other person:

Examples of Lease-purchase agreement in a sentence

  • TREASN/ATD Equipment Finance, Inc.Approve the award of the October 2009 Equipment Lease-Purchase Agreement for financing, on a consolidated basisunder a lease-purchase financing arrangement, the acquisitionof capital equipment by State Agencies.

  • The proposed Lease-Purchase Agreement also provides that the District will maintain possession and title to the education technology equipment during the term of said Agreement and the Lessor under said Agreement does not retain a perfected security interest in any equipment.

  • Principal ComponentRent Payment: On August 15 in the following year and amount: 2016 $2,000,000 Prepayment: Rent Payment under this Lease-Purchase Agreement may not be prepaid.

  • All terms used herein have the meanings ascribed to them in the above-referenced Master Equipment Lease/Purchase Agreement (the “Agreement”).

  • The Lease-Purchase Agreement amount shall be $2,000,000 payable at closing for the lease-purchase of education technology equipment.


More Definitions of Lease-purchase agreement

Lease-purchase agreement. The Lease Purchase Agreement, dated as of the Closing Date, by and between Harco Leasing and Navistar Financial.
Lease-purchase agreement means a lease between the school district or the department and a vendor that includes an option to purchase the technology equipment or software at the end of the lease period;
Lease-purchase agreement means any agreement between
Lease-purchase agreement means an agreement under which a school administrative unit leases space for a defined period of time at the end of which the school administrative unit has an option to purchase the property for one dollar.
Lease-purchase agreement means an agreement to lease or to lease and purchase major items of property, equipment, or services estimated to cost fifty thousand dollars ($50,000) or more, and two hundred thousand dollars ($200,000) or more for the construction or installation of a building or a utility.
Lease-purchase agreement means any agreement under which the school district leases equipment or school facilities as the lessee, and gives the school district the option of purchasing the leased property during or upon termination of the lease with credit toward the purchase price for all or part of rental payments that have been made by the school district in accordance with the lease-purchase agreement.
Lease-purchase agreement or "LP Agreement" means each lease purchase agreement entered into between an Obligor and VWFS in the form of standard business terms or otherwise pursuant to which VWFS has provided financing to an Obligor where the Final Rental Amount is substantially greater than the previous payments due under such contract but payment of such Final Rental Amount is not optional pursuant to the terms of such contract.