The fixed- noncancellable term of the lease. Includes- for accounting purposes- all periods covered by fixed-rate renewal options- which for economic reasons appear likely to be exercised at the inception of the lease. Includes- for tax purposes- all periods covered by fixed-rate renewal options.
LEASE TERM
Meaning of LEASE TERM in English
Finance-Leasing English vocabulary. Английский словарь финансов и лизинга. 2012