upon receipt of any item or group of equipment intended for lease hereunder, lessee shall execute a schedule, with all information fully completed and irrevocably accepting such equipment for lease, and deliver such schedule to lessor for its review and acceptance. except as provided in (x) section 13 with respect to a permitted assignment or sublease, or (y) section 10 with respect to a permitted license, lessee shall not change the location of any equipment specified in its schedule without lessor’s prior written consent. lessor shall be treated for federal and state income tax purposes as the owner of the equipment and shall be entitled to take into account certain tax benefits in computing its income tax liabilities in connection with any lease. if lessee does not surrender or return any item of equipment to lessor on the date or in the condition required under a lease, in addition to all other available rights and remedies, at lessor’s election, such equipment shall continue to be subject to all the terms and conditions of the lease, with rent and other charges continuing to accrue and be payable under the lease with respect to such equipment until it is so surrendered or returned to lessor, except that rent shall accrue at 125% of the last rent allocable to such item of equipment (as reasonably calculated by lessor) during the lease term, payable on demand. lessee shall obtain and record such instruments and take such steps as may be necessary to (i) prevent any creditor, landlord, mortgagee or other entity (other than lessor) from having any lien, charge, security interest or encumbrance on any equipment, and (ii) ensure lessor’s right of access to and removal of equipment in accordance with the lease.
lessor and any assignee may assign or transfer any of lessor’s interests in any lease or equipment without notice to lessee, subject, however, to the rights of lessee (and any permitted assignees, licensees or sublessees) to use and possess the equipment under such lease for so long as no event of default has occurred and is continuing. lessee shall promptly provide copies of business licenses or other documents evidencing the existence and good standing of lessee or any guarantor requested by lessor. (d) except as otherwise agreed between lessee and lessor in writing, lessee shall reimburse lessor upon demand for reasonable and documented costs and expenses incurred by lessor in connection with the execution and delivery of this agreement, any lease or related agreement. keidi s. carrington brings a wealth of legal knowledge and business experience in the financial services area with a particular focus on investment management. the law office of george k. fuiaxis, from the very beginning in 2002, has built a reputation with its clients as an unmatched, diligent, hands on law practice that is always on duty to find the best course of action for its clients. their platform put me in touch with the right lawyers for my industry and the team was as responsive as humanly possible during the whole process.
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a master lease agreement is legal document where you lease an income-producing property as a single tenant-landlord and sublease to two or more tenants to this master lease agreement (this “lease”) is made as of (the “effective date”), by and between , a limited liability company (“lessor”), a master lease agreement provides an avenue to invest in commercial real estate without tens of thousands in the bank for a down payment or, master lease vs ground lease, master lease vs ground lease, master lease company, master lease with option to purchase.
what is a master lease agreement? a master lease in real estate is an agreement where you lease an income-producing property as a single tenant and then sublease it to occupant tenants to get rental income. under the master lease option, the owner of the property will have no other responsibilities for the property. how the master lease agreement works: (2:33) you buy the property from the owner with a small or no deposit at closing you get “equitable title” entitles you a master lease agreement (mla ) is a framework lease agreement that allows the lessee to add lease assets of a specified type under the same basic terms and a master lease is a single lease that covers multiple properties leased from a landlord to a tenant. as a single lease, a master lease will not, . it works like this:you, the buyer, turn over a small (or no) down payment to the current owner (the seller). you receive the privileges and rights that come with owning and operating the property. you must pay regular lease payments for the life of the lease or until the purchase date, whichever is sooner.
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