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Definition of First amendment lease. A lease which contains a first amendment clause. Used for lessees who may opt to purchase equipment early. Typically- includes a penalty for non-purchase or requires the lessee to renew for a fixed number of months. Used to shorten term and get operating lease treatment. Also called a Stretch Lease in Canada.
FIRST AMENDMENT TO LEASE AGREEMENT. THIS FIRST AMENENT TO LEASE AGREEMENT (the Amendment) is made and entered into as of _,_ 2006, by and between (i) 1335 PICCARD. LLC, a Maryland limited lial) ity company (Landlord), indirect successor in interest to. SOLAR BUILDING ASSOCIATES (SBA), and (ii) MONTGOMERY COUNTY,