Prorated Lease Year definition

Prorated Lease Year means the period from when Lessee begins operation or December 31st, whichever occurs first, until the beginning of the first Lease Year, and the period from the last Lease Year until termination.
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Examples of Prorated Lease Year in a sentence

  • Prorated Lease Year means the period from when Lessee begins operation or December 31st, whichever occurs first, until the beginning of the first Lease Year, and the period from the last Lease Year until termination.