LeaseForce International - Commercial Equipment Leasing, Financing & Consulting Service Provider

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Wintergreen Renewal

A provision in a lease that provides that the lease will not be renewed for a specified period (e.g., a month, quarter, year, etc.) unless the lessee within so many days of the end of the original lease term (i.e. typically 30, 60, or 90 days) provides written notice to the lessor that it will renew. Wintergreen renewals are the opposite of Evergreen renewals that automatically renew for a contracted renewal period unless the lessee notifies the lessor of its intent not to renew.

Wrap Lease

A lease transaction typically involving a lease from an investor to an operating lease company with a sublease by the operating lease company to the end-user lessee. Typically, the operating lease company acquires the equipment and leases it to an end-user lessee. The operating lease company then sells the equipment, in accordance with the terms and conditions of the lease, to a packager who re-sells it to an investor who then enters into a lease with the operating lease company for a term longer than the term of the lease between the operating lease company and its lessee. A wrap lease is essentially a sale-leaseback of its own equipment by an operating lease company.

Write-Off

1. The act of booking a loss, typically upon conclusion of an unsuccessful collection effort. 2. A final or aggregate loss on a transaction or investment.