Common use of Lease Commencement Clause in Contracts

Lease Commencement. The commencement of a lease occurs when State Fleet makes payment to the Dealer for a vehicle, on the 15th of a month, and this normally is up to 30 days after the vehicle is received by the Lessee. The Lessee, in effect, has up to a month of vehicle use without incurring a lease invoice. This can be offset by a period of time at the end of the lease, between when a Lessee relinquishes a vehicle for disposal and the Disposal Contractor receives the vehicle in saleable condition.

Lease Commencement. The commencement of a lease occurs when State Fleet makes payment to the Dealer dealer for a vehicle, on the 15th of a month, and this normally is up to 30 days after the vehicle is received by the Lessee. The Lessee, in effect, has up to a month of vehicle use without incurring a lease invoice. This can be offset by a period of time at the end of the lease, between when a Lessee relinquishes a vehicle for disposal and the Disposal Contractor disposal contractor receives the vehicle in saleable condition.