step lease
Definition
That provides for increase or decrease in the rent (lease) amount based on an agreed upon formula such as the lessor's expenses associated with the lease or the lessee's sales at the leased property. Also called step up/step down lease.
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step lease is in the Accounting & Auditing, Banking, Commerce & Finance, Purchasing & Procurement and Real Estate & Buildings subjects.
step lease appears in the definition of the following term: step up/step down lease
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