Lessor definition

Lessor s residual interest" means the lessor's interest in the goods after expiration, termination, or cancellation of the lease contract.

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Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

Lessor as used herein shall mean only the owner or owners, at the time in question, of the fee title or a lessee's interest in a ground lease of the Office Building Project, and except as expressly provided in paragraph 15, in the event of any transfer of such title or interest, Lessor herein named (and in case of any subsequent transfers then the grantor) shall be relieved from and after the date of such transfer of all liability as respects Lessor's obligations thereafter to be performed, provided that any funds in the hands of Lessor or the then grantor at the time of such transfer, in which Lessee has an interest, shall be delivered to the grantee. The obligations contained in this Lease to be performed by Lessor shall, subject as aforesaid, be binding on Lessor's successors and assigns, only during their respective periods of ownership.

Examples of Lessor in a sentence

Under this scenario, (A) Basic Rent payable under this Agreement shall be adjusted in accordance with the Basic Rent Adjustment and (B) Lessee shall have no obligation to pay Maintenance Rent to Lessor in respect of such Substitute Major Part beginning on the date of installation of such Substitute Major Part.
If Lessee sources a Substitute Major Part on a leased basis, Lessee shall provide a copy of the lease agreement for such Substitute Major Part to Lessor and obtain Lessor’s written consent (as to the form and substance of such lease agreement, including the amount of rent payable thereunder), not to be unreasonably withheld or delayed, in advance of executing such lease agreement.
Lessee shall indemnify Lessor on demand in respect of any reasonable Losses or other amounts (including reasonable legal costs) incurred or expended by Lessor or its representatives in connection with the exercise of its rights under this clause 24.12.
If Lessor ceases to be, or knows it will cease to be, a Citizen of the United States (as such term is defined in Section 40102(a)(15) of 49 U.S.C. s▇▇▇▇▇▇▇ ▇▇▇, as amended), it will promptly resign as owner trustee, effective upon the appointment of a successor owner trustee who is a Citizen of the United States in accordance with the Trust Agreement.
The out-of-pocket costs and expenses of performing the acts contemplated by this clause 24.2 shall be borne by Lessee except where such out-of-pocket costs and expenses are incurred in connection with an act that is (i) in connection with an assignment or transfer by Lessor, other than as a result of an Event of Default or (ii) requested by a Financing Party, other than as a result of an Event of Default.

More Definitions of Lessor

Lessor as used herein shall mean the owner or owners at the time in question of the fee title to the Premises. In the event of a transfer of Lessor's title or interest in the Premises or in this Lease, Lessor shall deliver to the transferee or assignee (in cash or by credit) any unused Security Deposit held by Lessor at the time of such transfer or assignment. Except as provided in Paragraph 15.3, upon such transfer or assignment and delivery of the Security Deposit, as aforesaid, the prior Lessor shall be relieved of all liability with respect to the obligations and/or covenants under this Lease thereafter to be performed by the Lessor. Subject to the foregoing, the obligations and/or covenants in this Lease to be performed by the Lessor shall be binding only upon the Lessor as hereinabove defined.

Lessor means the person, private or government entity, or a combination of the above, whose Tender for the Lease Contract has been accepted by the Procuring Entity and is named as such in the Contract Agreement.

Lessor means a person who, in the ordinary course of business, regularly leases, offers to lease, or arranges for the leasing of property under a rental-purchase agreement.

Lessor as used herein shall mean the owner or owners at the time in question of the fee title to the Premises, or, if this is a sublease, of the Lessee's interest in the prior lease. In the event of a transfer of Lessor's title or interest in the Premises or this Lease, Lessor shall deliver to the transferee or assignee (in cash or by credit) any unused Security Deposit held by Lessor. Except as provided in Paragraph 15, upon such transfer or assignment and delivery of the Security Deposit, as aforesaid, the prior Lessor shall be relieved of all liability with respect to the obligations and/or covenants under this Lease thereafter to be performed by the Lessor. Subject to the foregoing, the obligations and/or covenants in this Lease to be performed by the Lessor shall be binding only upon the Lessor as hereinabove defined. Notwithstanding the above, and subject to the provisions of Paragraph 20 below, the original Lessor under this Lease, and all subsequent holders of the Lessor's interest in this Lease shall remain liable and responsible with regard to the potential duties and liabilities of Lessor pertaining to Hazardous Substances as outlined in Paragraph 6 above.

Lessor has the meaning set forth in the preamble.

Lessor as used herein shall mean the owner or owners at the time in question of the fee title to the Premises, or, if this is a sublease, of the Lessee's interest in the prior lease. In the event of a transfer of Lessor's title or interest in the Premises or in this Lease, Lessor shall deliver to the transferee or assignee (in cash or by credit) any unused Security Deposit held by Lessor at the time of such transfer or assignment. Except as provided in Paragraph 15, upon such transfer or assignment and delivery of the Security Deposit, as aforesaid, the prior Lessor shall be relieved of all liability with respect to the obligations and/or covenants under this Lease thereafter to be performed by the Lessor. Subject to the foregoing, the obligations and/or covenants in this Lease to be performed by the Lessor shall be binding only upon the Lessor as hereinabove defined.

Lessor means each Person that is a lessor under a Lease or assignee thereof, including the Issuing Entity.