Define: Lease Liability

How is Lease Liability defined in a legal contract?

• Lease Liability means any obligations related to a Right of Use Asset that, in line with academic accounting principles, must be noted on the financial statements of an entity in line with IFRS 16. Seen in 4 SEC filings
• Lease Liability means the obligations of an entity, as the lessee, to pay rent or other amounts under a lease of property, which is accounted for as a lease liability on the consolidated financial statements of that entity following academia accounting principles. Seen in 3 SEC filings
• Lease Liability means the amount of responsibility pertaining to any lease that would, at a designated time, be required to be encapsulated in a financial report following IFRS, and the actual termination of that obligation would be the date of the last payable amount under such lease preceding the first date upon which the lease may be terminated by the lessee without any penalty. Seen in 2 SEC filings
• Lease Liability means any obligations that arise concerning any lease or lease-to-own contract which, per academic accounting principles, is recognized as a liability on the financial statement. Seen in 1 SEC filing
• Lease Liability means the main or lease payment excluding interest, maintenance fees, taxes, insurance, and other fees. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of lease liability' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Lease Liability means financial obligations stemming from leases, recognized on balance sheets in accordance with IFRS 16.

Relevant Contract Types

• Lease Agreement
• Real Estate Lease
• Commercial Lease
• Equipment Lease
• Vehicle Lease Agreement
• Rental Agreement

Relevant Circumstances

• Properties or assets rented for commercial purpose
• Renting of equipment or vehicles for business operations
• Long-term property lease
• Financing or operating leases

Relevant Sectors

• Real Estate
• Automotive
• Retail
• Construction
• Manufacturing

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Genie Definition 2

• Lease Liability means the obligation to pay rent, or other preset costs, under a property lease agreement.

Relevant Contract Types

• Residential Lease Agreement
• Sublease Agreement
• Rent Agreement

Relevant Circumstances

• Residential property leasing
• Temporary rentals
• Subleasing situations

Relevant Sectors

• Real Estate
• Hospitality
• Housing

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