Define: Synthetic Lease Obligation

What does "Synthetic Lease Obligation" mean? The meaning differs based on the contract. We found 2 definitions across 3 companies in SEC filings.

Definition 1 (AMAZON COM INC, seen in 3 filings)

Synthetic Lease Obligation means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

Source: AMAZON COM INC 10-Q

Definition 2 (CISCO SYSTEMS, INC., seen in 1 filing)

Synthetic Lease Obligation means the monetary obligation of a Person under (a) a so called synthetic, off balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

Source: CISCO SYSTEMS, INC. 10-Q

Data extracted from 5 SEC EDGAR filings across 3 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.

This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.

Occurrences: 5
Companies: 3
Keywords:
Synthetic Lease Obligationdefinitioncontract languagelegal termSEC filing

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