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Lessee
An individual or entity that leases or rents property or equipment from another entity, known as the lessor.
Lessor
A party that leases an asset to another party, known as the lessee, for periodic payments.
Minimum Lease Payments
The least amount of payments over the lease term that the lessee is obligated to make to the lessor.
Residual Value Guarantee
An assurance provided by a party (usually lessor or seller) that guarantees a minimum future value for an asset at the end of its lease term.
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