A long-term rental agreement, and a form of secured long-term debt. The New York Times Financial Glossary
* * *
▪ I. lease lease 1 [liːs] verb [transitive] COMMERCE
1. if you lease something to someone, you give them the right to use it for a particular period of time in return for payment:
lease somebody something
• The local authority leased him the property.
lease something to somebody
• AT&T leased the building to Sony and said it would find cheaper space elsewhere.
lease something out (to somebody)
• We lease the land out to the forestry people.
2. if you lease something from someone, you pay them to let you use it for a particular period of time:
lease something from somebody
• All its scientific equipment is leased from another company.
— see also sublease, sublet [m0]
▪ II. lease lease 2 noun [countable] LAW a legal contract that allows a person or organization to make payments to use something for a particular period of time:
• The initial term of the lease (= the time that it lasts ) is 10 years, with three additional 10-year renewal options.
• The company leases cars to corporate fleets and then sells them when the leases expire (= end ) .
• The largest portion of the airline's debt load was from off-balance-sheet aircraft leases.
in Britain, a lease on land where the person or organization leasing it builds buildings and pays rent for the land
a lease allowing someone to use a car:
• She set up her first car lease business in 2000.
deˌrivative ˈlease
PROPERTY LAW an arrangement in which a person renting a property with a lease arranges another lease on the same property, allowing another person to rent the property from them
— compare sublease, sublet
a lease where an
airline leases aircraft directly from their maker or from a leasing company, rather than from another airline:
• The deal between Croatian Airlines and Airbus includes the dry lease of an A320 model.
a lease for machinery, vehicles etc used by a business:
• The mining company may be unable to pay its rental obligations on $3.8 million in equipment leases.
fiˈnance ˌlease also fiˌnancial ˈlease FINANCE LAW
a lease in which a company obtains land or equipment with a bank buying the assets and leasing them back to the company:
• It has the opportunity to finance these assets by way of rental payments under finance leases rather than by direct acquisition.
a lease allowing a company to use particular equipment:
• An operating lease lasts for a much shorter period of time than the economic life of the asset.
in Britain an arrangement in which the person renting a building is responsible for paying for repairs to it
a lease allowing a person or organization to run and operate a shop:
• BizMart agreed to acquire five store leases in Minneapolis from Highland Superstores.
a lease in which an
airline flies between two countries with aircraft leased from an airline in a third country
* * *
Ⅰ.
lease UK US /liːs/ noun [C] COMMERCE, LAW
► »
The company signed a lease for the property in December.
»
The original tenant remains liable throughout the entire term of the lease.
a lease expires/runs out »
The lease expires in 2026.
a 10-/20-/30-year lease »
The company is trying to extend its 30-year lease (with 24 years left to run).
»
a lease agreement/contract/payment
»
a long-term/short-term lease
Ⅱ.
lease UK US /liːs/ verb [T] COMMERCE, LAW
► lease sth (from sb) »
The firm recently made plans to lease another 8,000 square feet from the property company.
► lease sth (out) (to sb) »
They are keen to lease out the aircraft to private companies.
lease sb sth »
He gave equity to the firms that leased him office equipment.