Tagged With "lessor"

Many of the office equipment leases that were in place prior to Covid19 will be coming to term shortly. Those were leases that would have started from 2017-2019 and were termed for 60 months. We're all familiar with the Evergreen Clause and those of us that are pro's in the business understand why we ask for a copy of the original lease. We're looking for the language for the return of the equipment to the leasing company. Evergreen Clause There is an Evergreen Clause on most office...

COVID lease extensions happened in Canada as well. In my quotes, I always tell the customer I am buying out exactly this specific $ value and any uncounted payments are the responsibility of the customer. Fortunately, I have never seen a lease auto extend by 12 months unless the customer was on a very rare annual payment usually by their request. Therfore I am unsure if the USA definition of an Evergreen lease is the same as in Canada. Leases commonly extend month to month or quarter to...

Ty for this. Yes USA is different and most leases in the US that have pages built in also have 12 month auto renewals.