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Lease Term for Expansion Area Coterminous With Initial Premises Sample Clauses

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❶Master lease A master lease is a continuing lease arrangement-in which all terms and conditions of the original lease remain in force-permitting additional equipment to be added to the lease merely by describing such equipment in a new lease schedule executed by the parties to the original master lease.

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The lease term is for 10 years and is coterminous with the present facility lease, which expires in

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Closed End Lease: A true lease in which the lessor assumes the depreciation risk. The lessee bears no obligation at the end of the lease. Coterminous: Two of more leases that end at the same time. Both the original lease and a later added addendum lease terminate at the same time.

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coterminus. Definition + Create New Flashcard; Popular Terms. Two or more agreements or contracts (such as leases) so linked that both expire or terminate at the same time. bond scope of work contract performance Capital Lease vs. Operating Lease. Coterminous refers to a supplemental loan with a maturity that is the same as the senior, or original, loan. Coterminous is most often used to describe mortgage loans, such .

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Lease Term for Expansion Area Coterminous With Initial Premises. The Termination Date for the lease of the Expansion Area will be April 30, , which is the same as the Termination Date for the. (i) By obtaining an assignment or a coterminous sublease. If a national bank enters into a sublease that is not coterminous, the period during which the master lease must be divested will be suspended for the duration of the sublease, and will begin running again upon termination of the sublease.