Rent or lease definition

Rent or lease means granting temporary possession and use of a motor vehicle or vehicle to a person for consideration, whether or not the lessor receives monetary income from the granting of temporary possession and use of the motor vehicle or vehicle. Consideration received from the rental or lease of a motor vehicle or vehicle includes but is not limited to any money, promise, act, acknowledgment of liability, forbearance, interest, value, gain, advantage, benefit, payment in return for a waiver of legal rights, or profit offered by one party to another in return for the other party’s act or promise.
Sample 1
Rent or lease means an agreement or act by which an owner gives to a tenant, for valuable consideration, possession and use of his property or a portion thereof for a definite term, at the end of which term the owner has an absolute right to retake control and use of the property.
Sample 1

Examples of Rent or lease in a sentence

  • Rent or lease a personal watercraft to a person under 16 years of age.

  • Rent or lease a personal watercraft without providing the person who will be operating the personal watercraft with a per- sonal flotation device that meets the requirements specified under s.30.62 (3) (b).

  • Rent or lease county property and award concessions pursuant to policies established by the council.

  • Rent or lease city property, except property controlled by the board of water supply and the public transit authority, and award concessions, pursuant to law and to policies established by the council.

  • Rent or lease a limited use off−highway motorcycle for operation by a person who will be operating the limited use off− highway motorcycle for the first time unless the person engaged in the rental or leasing gives the person instruction on how to oper- ate the limited use off−highway motorcycle.

  • Rent or lease technological materials and assistive tech- nology devices, as defined in s.115.76 (1), to local educational agencies, cooperative educational service agencies, county chil- dren with disabilities education boards, private schools, and tribal schools.

  • Rent or lease a limited use off−highway motorcycle to a person under 12 years of age.

  • Rent or lease a limited use off−highway motorcycle with- out first ascertaining that any person under the age of 18 who will be on the vehicle has protective headgear of the type required under s.

  • Rent or lease county property and award concessions pursuant to policies established by the council, except property controlled by the board of water supply.

  • Rent or lease of facilities or Equipment to directly complete the Project, provided that the rental or lease shall be fair market value or Grantee’s actual cost, whichever is less.

Related to Rent or lease

  • 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.

  • Superior Lease means the document which sets out the obligations your Landlord has made to their Superior Landlord. The promises contained in this Superior Lease will bind the Tenant if they have prior knowledge of those promises.

  • 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.

  • Sub-Lease means the sub-lease entered into following the approval of an Approved Sub-lease;

  • Lease means any agreement, whether written or oral, no matter how styled or structured, pursuant to which a Loan Party is entitled to the use or occupancy of any space in a structure, land, improvements or premises for any period of time.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • this Lease means the relevant portion of Articles 1 through 29 of this Office Lease to which this Tenant Work Letter is attached as EXHIBIT B and of which this Tenant Work Letter forms a part, and all references in this Tenant Work Letter to sections of "this Tenant Work Letter" shall mean the relevant portion of Sections 1 through 7 of this Tenant Work Letter.

  • the Lease means the lease of the said land to be granted by the Lessor to the Lessee pursuant to clause 2.1;

  • Operating Lease means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee which is not a Capital Lease.

  • Major Lease shall have the meaning assigned to such term in the Mortgage Loan Agreement.

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Master Leases means the PropCo Master Leases and each other Material Master Lease.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

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

  • Sublessee means any Person for so long, but only so long, as such Person is in possession of the Airframe and/or any Engine pursuant to the terms of a Sublease which is then in effect pursuant to Section 7(b)(x) of the Lease.

  • Head Lease or “Superior Lease” means the document which sets out the promises the Landlord has made to the Superior Landlord. The promises contained in this Head Lease will bind the Tenant if he has prior knowledge of those promises.

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Mining Lease means the mining lease granted pursuant to Clause 12 and includes any renewal thereof and according to the requirements of the context shall describe the area of land demised as well as the instrument by which it is demised;

  • Sublease Agreement shall have the meaning specified in Section 8.2(b).

  • Sublessor means one who conveys real property by sublease."

  • 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.

  • Subtenant means any Person entitled to occupy, use, or possess any Premises under a Sublease.

  • Property Lease means any Depot Lease, any lease in respect of a Managed Station Area, any lease in respect of Shared Facilities or any Station Lease and any agreement or lease of a similar or equivalent nature (whether in respect of any such facility or otherwise) which the Franchisee may enter into with a person who has an interest in a network or a railway facility which is to be used for or in connection with the provision or operation of the Franchise Services;

  • Subleases means the sublease(s) and other documentation listed in Part [3B] of the Schedule;]