Financing Leases means all leases that have been or are required to be, in accordance with GAAP, recorded as a financing or capital leases (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP; provided that for all purposes hereunder the amount of obligations under any Financing Lease shall be the amount thereof accounted for as a liability on a balance sheet in accordance with GAAP.
Financing Leases means sale and leaseback transactions, except for: (i) temporary leases for a term, including any renewal thereof, of not more than three years; (ii) leases between the Company and the Borrower or between the Borrower and the Company; and (iii) leases for properties executed within one year of the latest of acquisition, completion of construction and commencement of commercial operation thereof.
Financing Leases means all leases that have been or are required to be, in accordance with GAAP, recorded as Financing Leases; provided that for all purposes hereunder the amount of obligations under any Financing Lease shall be the amount thereof accounted for as a liability on a balance sheet (excluding the notes thereto) in accordance with GAAP.
Examples of Financing Leases in a sentence
The foregoing, however, shall not prevent the arbitrators from determining the applicable provisions of this Agreement, the Development Leases or the Financing Leases and interpreting and construing such provisions.
If the Project is phased with separate sets of Development Leases and Financing Leases for each phase, an Event of Default under the Development Lease or Financing Lease for one phase shall not shall not be a cross default with respect to the Financing Lease for any other phase.
The parties agree that the phases of the Project may have separate and distinct Development Leases and Financing Leases to which this Agreement relates.
The Financing Lease(s) shall be for at least the term of the FTA Bonds.
As is customary, YIDA will not assign certain rights to be held harmless under the Financing Leases.
More Definitions of Financing Leases
Financing Leases means (a) any lease of property, real or personal, the then present value of the minimum rental commitment of which should, in accordance with GAAP, be capitalized on a balance sheet of the lessee, and (b) any other such lease the obligations under which are capitalized on a consolidated balance sheet of SCI or Guarantor and its Subsidiaries.
Financing Leases means all leases that have been or are required to be, in accordance with GAAP, recorded as a financing or capital leases (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP; provided, that, for all purposes hereunder the amount of obligations under any Financing Lease shall be the amount thereof accounted for as a liability on a balance sheet in accordance with GAAP.
Financing Leases means any lease which is properly characterized as a capitalized lease obligation in accordance with GAAP.
Financing Leases means, as applied to any Person, all leases of property that have been or should be, in accordance with GAAP, recorded as financing leases on the balance sheet of such Person or any of its Subsidiaries, on a consolidated basis; provided, that for all purposes hereunder the amount of obligations under any Financing Lease shall be the amount thereof accounted for as a financing lease liability on the balance sheet (excluding the footnotes thereto) of such Person in accordance with GAAP.
Financing Leases means operating leases of the Borrower or any of its Subsidiaries which are under GAAP in the nature of financing transactions; provided however the Agent shall not designate any operating lease a Financing Lease unless the aggregate operating lease payments payable by the Borrower or the relevant Subsidiary in any period of one (1) year exceeds Cdn. $5,000,000.
Financing Leases means all leases that have been or are required to be, in accordance with GAAP, recorded as a financing or capital leases (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes; provided that at any time following the Closing Date and upon notice to the Administrative Agent, the Borrower may elect that “GAAP” as used in this definition, shall mean GAAP as in effect on January 1, 2015 and, if such election is made by the Borrower, then for all purposes hereunder the amount of obligations under any Financing Lease shall be the amount thereof accounted for as a liability on a balance sheet in accordance with GAAP as in effect on January 1, 2015. For the avoidance of doubt, solely making an election (without any other action) referred to in this definition will not be treated as an incurrence of Indebtedness.
Financing Leases means all financing leases that have been or are required to be, in accordance with GAAP as in effect on June 4, 2021 (including the Company’s adoption of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842)), recorded as financing leases; provided that (i) for all purposes hereunder the amount of obligations under any Financing Leases shall be the amount thereof accounted for as a liability in accordance with GAAP as in effect on June 4, 2021 (including the Issuer’s adoption of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842)) and (ii) in no event shall an operating lease or a lease that would have been an operating lease prior to the adoption of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842)) be considered a Financing Leases.