Illinois Master Lease of Equiment as Personal Propety with Automatic Renewal of Lease unless Lessee Notifies Lessor of Intention to either Purchase or Return Equipment

• Category: Leases - Equipment
• State: Multi-State
• Control #: US-0806BG
• Format: Word; Rich Text

Description

A master lease is a lease that controls subsequent leases or subleases. It is a lease that allows an existing lessee to lease additional assets under similar terms and conditions without negotiating a new contract to the current lease.