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Lessee
A person or entity that leases an asset from another, the lessor, under the terms of a lease agreement, gaining the right to use the asset for a specified period in exchange for regular payments.
Business Expense
Monetary outlays or costs that are necessary for a company to operate and conduct its business activities.
Leasing Arrangement
A contractual agreement where a lessor allows a lessee to use an asset in exchange for periodic lease payments.
Encumbered Assets
Assets that are used as security or collateral for a loan or debt, restricting their free use or disposal by the owner.
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