Lease Liability definition

Lease Liability of any person means the obligation of such person, as lessee, to pay rent or other payment amounts under a lease of real or personal property which is accounted for as a lease liability on a consolidated balance sheet of such person in accordance with GAAP.

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Lease Liability means, with respect to any Person, any liability in respect of a Right of Use Asset that is required in accordance with GAAP to be recorded on the balance sheet of such Person in accordance with IFRS 16.

Lease Liability means, at the time any determination is to be made, the amount of the lease liability in respect of any lease that would at that time be required to be included on a statement of financial position prepared in accordance with IFRS, and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be cancelled by the lessee without payment of a penalty.

Examples of Lease Liability in a sentence

• Notwithstanding the foregoing, documents governing a Capitalized Lease Liability or a purchase money Lien permitted by Section 7.2.3(q) and (r) may prohibit other Liens on the asset encumbered by such Lien.

• The Total Lease Liability Shares, if any, shall be held during the Contingent Term and shall be released in accordance with Section 2.11(b)(iii) hereof and the terms of the Escrow Agreement.

• If the Capital Lease Liability exceeds $600,000, then the Seller shall pay to the Buyer or its designee an amount equal to the difference between the Capital Lease Liability and $600,000 in accordance with the provisions of Section 2.2(b)(iv).

• Notwithstanding the foregoing, (i) documents governing a Capitalized Lease Liability or a purchase money Lien permitted by SECTION 7.2.3(q) and (r) may prohibit other Liens on the asset encumbered by such Lien, and (ii) the Lenders acknowledge that certain real estate leases entered into by Borrower or its Subsidiaries prior to the Effective Date restrict or prohibit Liens on the Borrower's or its Subsidiary's leasehold interest.

• Notwithstanding the foregoing, documents governing a Capitalized Lease Liability or a purchase money Lien permitted by SECTION 7.2.3(q) and (r) may prohibit other Liens on the asset encumbered by such Lien.

• Notwithstanding the foregoing, (i) documents governing a Capitalized Lease Liability or a purchase money Lien permitted by Section 7.2.3(q) and (r) may prohibit other Liens on the asset encumbered by such Lien, and (ii) the Lenders acknowledge that certain real estate leases entered into by Borrower or its Subsidiaries prior to the Effective Date restrict or prohibit Liens on the Borrower’s or its Subsidiary’s leasehold interest.

• Six Hundred Eighty Five Thousand (685,000) of the Lease Liability Shares shall be defined as “FIN 48 Shares”, and shall be treated as a subset of the Lease Liability Shares.

• The requisite Consents for Consent Required Core Stores having Lease Liabilities representing, in the aggregate, at least eighty-five percent (85%) of the Aggregate Lease Liability shall have been obtained.

• Six Hundred Eighty Five Thousand (685,000) of the Lease Liability Shares shall be defined as “FIN 48 Shares”, 6 and shall be treated as a subset of the Lease Liability Shares.

• If the Buyer proposes any adjustments to the Net Working Capital, Debt or PST Lease Liability set forth in the Preliminary Closing Statement, the Sellers and the Buyer, within thirty (30) days of the delivery to the Sellers of the Buyer's proposed adjustments, shall attempt to resolve any disagreement.

More Definitions of Lease Liability

Lease Liability means principal or lease payment minus interest, maintenance fees, taxes,

Lease Liability means, with respect to any Consent Required Core Store, the aggregate amount of outstanding minimum rent liability under the Lease related to such Consent Required Core Store as of October 2, 2004, as set forth opposite such Consent Required Core Store on the Acquired Stores Schedule.

Lease Liability means principal or lease payment minus interest, maintenance fees, taxes, insurance, and other fees.

Lease Liability means any liability arising in respect of any lease or hire purchase contract which would, in accordance with GAAP, be treated as a balance sheet liability.

Lease Liability the meaning specified in Section 10.2(a) hereof.