Русско-англо-русский юридический словарь

A finance lease or capital lease is a type of lease. It is a commercial arrangement where:

• - the lessee (customer or borrower) will select an asset (equipment, vehicle, software);
• - the lessor (finance company) will purchase that asset;
• - the lessee will have use of that asset during the lease;
• - the lessee will pay a series of rentals or installments for the use of that asset;
• - the lessor will recover a large part or all of the cost of the asset plus earn interest from the rentals paid by the lessee;
• - the lessee has the option to acquire ownership of the asset (e.g. paying the last rental, or bargain option purchase price);

A finance lease or capital lease is a type of lease in which a finance company is typically the legal owner of the asset during the duration of the lease, while the lessee not just has operating control over the asset, but also has a substantial share of the economic risks and returns from the change in the valuation of the underlying asset. (Wikipedia)

Material Obligation means [i] any indebtedness secured by a security interest in or a lien, deed of trust or mortgage on the Facility (or any part thereof, including any Personal Property) and any agreement relating thereto; [ii] any obligation or agreement that is material to the construction or operation of the Facility or that is material to Borrower's business or financial condition; and [iii] any indebtedness or capital lease that has an outstanding principal balance of at least $2,000,000.00 and any agreement relating thereto. (Law Insider)