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What is a commercial real estate lease?
A commercial real estate lease is a lease contract between the owner (landlord) and occupant (tenant) of commercial real estate in which the landlord grants to the tenant the right...
What is a collateral assignment?
Collateral assignment is the transfer of the rights to the rental payments from and a security interest (lien) in a leased asset by the asset’s owner and lessor to lenders – the le...
When the amount of financing required by a borrower is too large for a relationship bank to provide on its own, the club deal may be used. In a club deal, a group (syndicate) of b...
What is a chapter 11-style reorganization? What is an administration?
A type of reorganization based on US Chapter 11 procedures is a Chapter 11-style reorganization. A Chapter 11-style reorganization is a distressed-debt restructuring in which an i...
What is a certificate of acceptance?
As soon as delivery of the asset is made to the lessee, the lessee must acknowledge acceptance of the asset and authorize the lessor to pay the asset’s supplier. Delivery and acce...
A captive lessor is a division, subsidiary or joint venture established with a leasing company by a manufacturer or dealer with the primary purpose of providing the lease financing...
A cancellable lease is generally an operating lease (rental) that may be terminated by either the lessee or the lessor without penalty. A finance lease is a noncancellable lease in...
In a best-efforts deal, the arranging bank agrees to use its “best efforts” or “commercially reasonable efforts” to market a financing facility to lenders and other investors, gene...
What is a best-efforts arrangement?
In a best-efforts deal, the arranging bank agrees to use its “best efforts” or “commercially reasonable efforts” to market and place financing with lenders and other investors. Ge...
What is a bargain purchase option? What is a bargain renewal option?
A bargain purchase option (BPO) is the contractual right of a lessee to purchase the leased asset at a fixed price that is substantially below its expected fair value when the opti...
