Inception of the lease definition

Inception of the lease means the date of the lease agreement or commitment, if earlier, or the date the lease is purchased by the state bank. For purposes of this definition, a commitment shall be in writing, signed by the parties in interest to the transaction, and shall specifically set forth the principal terms of the transaction. However, if the property covered by the lease is a fixture yet to be constructed or has not been acquired by the lessor at the date of the lease agreement or commitment, the inception of the lease shall be the date that construction of the property is completed or the property is acquired by the lessor. The inception date of a lease assumed in a business combination accounted for as a purchase is the date the combination is recorded for accounting purposes.
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Examples of Inception of the lease in a sentence

  • Inception of the lease The inception of the lease is considered to be the date of the lease agreement, or the date of commitment, if earlier.

  • The applicant filed a notice of defence and counterstatement denying the claims made in relation to the similarity of the marks.

  • Inception of the lease is defined in paragraph 6 of FASB Statement No. 23, Inception of the Lease, as: “The date of the lease agreement or commitment, if earlier.

  • At present, the HM Compliance BASIC scores can be seen only by to explain its relationship to the the requirements concerning 44 enforcement personnel and by a motor proposed changes in the SFD process.

  • Inception of the lease is defined in paragraph 6 of FASB Statement No. 23, Inception of the Lease, as “the date of the lease agreement or commitment, if earlier.

  • Such leases are capitalised at the Inception of the lease at lower of the fair value or the present value of the minimum lease payments and a liability is recognised for an equivalent amount.

Related to Inception of the lease

  • Fixed term tenancy means a tenancy that has a fixed term of existence, continuing to a

  • Master Lease means that certain [Master Lease title], relating to the leasing of, inter alia, the Healthcare Facility by Borrower to Master Tenant.

  • residential premises means a house, building, structure, shelter, or mobile home, or portion thereof, used as a dwelling, home, residence, or living place by 1 or more human beings. “Residential premises” includes an apartment unit, a boardinghouse, a rooming house, a mobile home, a mobile home space, and a single or multiple family dwelling, but does not include a hotel, a motel, motor home, or other tourist accommodation, when used as a temporary accommodation for guests or tourists, or premises used as the principal place of residence of the owner and rented occasionally during temporary absences including vacation or sabbatical leave.

  • Date of commencement of the project means the date of the agreement.

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • 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.

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

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

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

  • Master Lease Agreement has the meaning set forth in Section 7.2(c)(xiv).

  • Commencement Date means the date of this Agreement.

  • rural areas means any area within the county located outside the

  • Commercial Premises Means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Appendix B takes place.

  • Expansion means the addition of buildings, structures, machinery or equipment for purposes of increasing production capacity.

  • industrial premises means any place or premises (not being a private dwelling house), including the precincts thereof, in which or in any part of which any industry, trade, business, occupation or manufacturing is being ordinarily carried on with or without the aid of power and includes a godown attached thereto;