Meaning of BARGAIN RENEWAL OPTION in English

BARGAIN RENEWAL OPTION

A lease provision allowing the lessee- at its option- to extend the lease for an additional term in exchange for periodic rental payments sufficiently less than fair value rentals for the property- such that exercise of the option appears- at the inception of the lease- to be reasonably assured.

Finance-Leasing English vocabulary.      Английский словарь финансов и лизинга.