&

ampersand

“

double quote

<

*

asterisk

=

equals sign

+

@

at

!

exclamation point

}

\

backward slash

/

forward slash

]

^

caret

>

greater than

;

, 

comma

#

hash or number sign

'

$

dollar sign

{

left curly bracket

~

Modification Summary

Summary

Schedule

Terms

Details

Add Assets

EOT Options

Terms

Step Payments

Terms

Category LRFs

Terms

Remove Reduce Assets

Remove/Reduce Assets

A

Schedule Number

Use the original Schedule #. This is the unique identifier for a lease.

B

IBR

Incremental Borrowing Rate. Best practice is to populate. If left blank, the system will pull appropriate IBR based on Lessee, Geo, and Term from the loaded rates. If no IBRs have been imported as part of the master data, the system will use the original deal’s IBR at inception.

C

Reasonably Certain Holding Period

This is for the modification and is the number of months that the assets contained in the lease are expected to be used. It may be shorter than Duration if assets are typically bought out early or longer if renewal periods are typically exercised or if evergreen is typically incurred.

D

Estimated Guaranteed Residual Value (GRV)

For the modification, the amount expected to be paid by Lessee to Lessor at the end of the lease because equipment FMV is less than the contractual guaranteed residual.

E

Comments

Reason for the modification.

F

Modification Date

Effective date of modification (this will become the Lease Start Date of the modified deal). This date should be a payment period anniversary date and cannot be:

• Before the original lease start date

• After the original lease end date

• After the current system date

G

Asset Available Date (required when adding assets)

Available For Use Date (AFUD) for assets being added.

H

Commensurate Adjustment (required when adding assets)

Applies if adding asset(s) on the Details tab. The field asks the question in the UI, “Has payment been adjusted commensurate with value of new assets?”

A

Schedule

Use the original Schedule #. This is the unique identifier for a lease.

B

Lease Type

For the modification, the type of contractual agreement.

C

Frequency

For the modification, the periodic nature of payments is monthly, quarterly, bi-monthly, annual, bi-annual, etc.

D

Repayment Mode

For the modification, are payments made in advance or arrears?

E

Accounting Classification

For the modification, the accounting classification may be Operating or Capital for ASC 840, Capitalized-Operating or Finance for ASC 842, and Operating or Finance for IFRS 16.

F

Override Explanation

Explanation for accounting classification. Required if Accounting Classification is populated.

G

Duration

For the modification, this is the number of payments between commencement (Date of Modification) and the end of term of the modified deal. Unless the modification specifically changes the length of the lease, the duration needs to be properly calculated using the remaining term for the original deal to avoid inadvertently changing the end date.

H

Payment Basis

Payment Based On: in UI

I

Down Payment

For the modification, an initial amount due reduces the contractual payment amount over the term.

J

LRF

Lease Rate Factor for the modification. A numeric factor expressed as a decimal used to calculate a payment, renewal, or buyout amount by multiplying against the Original Equipment Cost. It can be calculated when payment is known by dividing the payment by the OEC.

K

Payment

For the modification, the amount paid to Lessor each period when due. Required if LRF is not specified.

L

Rent Escalation Cap

For the modification, the maximum increase that a rental payment may increase for a single measurement if a floating rate lease.

A

Schedule Number

Use the original Schedule #. This is the unique identifier for a lease.

B

Product Category

For the added asset to the modification, and is a grouping of assets by type.

C

External Id

For the added asset to the modification. A unique identifier defined by the user. Used to identify parent/child relationships (if any) for a group of assets. If using External Id for parent/child, all rows must contain a value for this field, which cannot be left blank. Parent Asset has a sequential whole number, and child asset has a sequential decimal that relates to the parent asset. (Ex: 1 for parent and 1.1, 1.2, 1.3 for children)

D

Product Id

For the added asset to the modification and is a unique identifier for equipment typically used to delineate the type of equipment in the manufacturer’s product catalog.

E

Manufacturer

For the added asset to the modification, and is a company name. This field may be used to identify the real estate developer for a real estate lease.

F

Product Description

For the added asset to the modification and is a description of the equipment or real estate, which may include model year, make, lot number, parcel number, and other descriptors.

G

Unit Rent

For the added asset to the modification, a specific rental or payment amount defined in the lease agreement for the specific asset or lease component. If the standalone observable price is not provided, this amount will be used as the estimate for allocating the total payments to each individual component or asset (if provided). If unit rent is specified for one asset, it must be specified for all assets on schedule. The accounting standards prescribe the use of the SOP. This field should be entered if the explicit SOP or an estimate is used. However, LeaseAccelerator does not REQUIRE the field since the system has default rules-based estimates.

H

Cost Center

For the added asset to the modification, the department code assigned to an asset for responsibility/management reporting. Must be pre-configured as part of your master data.

I

GL Code

For the added asset to the modification, this is the GL Coding Convention ruleset that maps to the series of account codes where accounting transactions are recorded for this asset. Must exactly match the value set during GL Configuration in UI; Settings: Ledger Number: Set of Books Edit: GL Code (Coding Convention).

J

Quantity

For the added asset to the modification, it represents the number of units.

K

Unit Price

For the added asset to the modification and represents the original equipment cost per unit in local currency or the fair market value of a real estate asset.

L

Standalone Observable Price

For the added asset to the modification, and represents the price at which the Lessee would purchase the lease or non-lease component separately. The relative percent for each component is used to allocate the total consideration of lease payments to each component for accounting purposes. If the observable standalone prices are not readily available, the Lessee shall estimate the standalone prices, maximizing the use of observable information. If observable price is entered for one asset, it should be entered for all assets, even if the observable price is the same as the unit price. The accounting standards prescribe the use of the SOP. This field should be entered if the explicit SOP or an estimate is used. However, LeaseAccelerator does not REQUIRE the field since the system has default rules-based estimates.

M

Units

For the added asset to the modification and for real estate assets only. The unit of measure for area (currently used for real estate leases). Required if payments are utility-based calculations (versus a specified amount).

N

Total Space

For the added asset to the modification and for real estate assets only. The amount of total space leased. Required based on selection in Utility Pricing Basis.

O

Usable Space

For the added asset to the modification and for real estate assets only. The amount of space that can be used in the leased premises is generally measured from wall to wall. Required based on selection in Utility Pricing Basis.

P

Rentable Space

For the added asset to the modification and for real estate assets only. Refers to the usable space, plus a proportional share of common areas of the building, such as the main lobby, elevator lobbies and hallways, and bathrooms that are outside a tenant’s leased space and available for use by other tenants, etc. Required based on selection in Utility Pricing Basis.

Q

Price Per Utilized Unit

For the added asset to the modification and for real estate assets only. Rate used to determine rental payment. Required if utility-based payment.

A

Schedule Number

Use the original Schedule #. This is the unique identifier for a lease.

B

Timing

Include all EOT Options for the modification. Defines whether the option is a mid-term or end-of-term option.

C

Option Type

Defines the type of option. For example, renewal, buyout, or return.

D

Reasonably Certain EOT Option

Flag used to define whether the option is expected to be exercised. You may enter multiple renewal options that are Reasonably Certain, but they must be contiguous terms without any overlap.

E

Effective Month

The month in the lease term that the option is available to be exercised.

F

Min Days Notice

Smallest number of days required per lease agreement to provide notification to the Lessor of the expected action to occur. The Min Days Notice column should be populated with zero if the Lessee can exercise an option without advance notice. However, if the option will be exercised by default without any initiation by the Lessee (e.g. automatic buyout or automatic evergreen), then Min Days Notice should be left blank (as should Max Days Notice). This provides the system with identification of which options are automatically exercised vs. which ones require explicit action by the Lessee, with some or no advance notice to the lessor required.

G

Max Days Notice

Largest number of days required per lease agreement to provide notification to the Lessor of the expected action to occur.

H

Exercisable by Lessee

Flag denoting whether the option is exercisable by the Lessee. Used in real estate. If left blank, system will assume and default to Yes. Best practice is to populate.

I

Description

Contractual language for each EOT option.

J

Purchase Amount

Amount that assets may be bought for in local currency. If you leave this field blank on a buyout option, the system will assume FMV, and an exact purchase amount may be entered when exercising the option. Required if Option = Buyout and is not an FMV purchase. If entered with a “%” Suffix, the amount is interpreted as “percent of” versus the absolute value entered.

K

Buyout Ceiling

Maximum amount that buyout cost may be if structured as FMV rather than as a stated amount. If Option = Buyout, Number ≥ 0, may be blank. If entered with a “%” Suffix, the amount is interpreted as “percent of” versus the absolute value entered.

L

Buyout Floor

Minimum amount that buyout cost may be if structured as an FMV rather than as a stated amount. If Option = Buyout, Number ≥ 0, may be blank. If entered with a “%” Suffix, the amount is interpreted as “percent of” versus the absolute value entered.

M

Renewal Term

Number of months from the End of the Original Term (or latest Renewal) to the end of this Renewal Period. Represents the number of months even if the original deal frequency is not monthly. Example: 1-year renewal with quarterly payments is entered as 12. If left blank, LA will assume month to month, and an exact term may be entered when exercising the option. Required if Option = Renewal; Number > 0.

N

Renewal Payment

Amount of Renewal Payment. If left blank, LA will assume FMV; an exact amount will be entered when exercising the option. If Option = Renewal, Number >0 or may be calculated based on LRF or Price Per Utilized Unit and Utility Units as appropriate. If entered with a “%” Suffix, the amount is interpreted as “percent of” versus the absolute value entered.

O

Renewal Payment LRF

Factor applied to OEC (Original Equipment Cost) to determine Renewal Payment. If Option = Renewal, Number >0. Numeric factor expressed as a decimal. May be left blank.

P

Price Per Utilized Unit

The rate used to determine the rental amount during the renewal period if utility-based pricing applies. If Option = Renewal, Number >0; only required if Renewal Payment is Utilization-based and Renewal Payment is blank.

Q

Utility Units

The unit of measure used to determine the pricing during the renewal period if utility-based pricing applies. If Option = Renewal, it is only required if the Renewal Payment is Utilization-based and the Renewal Payment is blank.

R

Return Fee

The total fee required to be paid by Lessee to return equipment or real estate to the Lessor/Landlord. This does not include refurbishment or other costs that the Lessee may incur to return an asset to the required condition. When a Guaranteed Residual Value (GRV) is present in the lease, this includes the Contractual GRV used in Lease Classification testing after applying any Limit Fee. If Option = Return; Number ≥ 0, may be blank. If entered with a “%” Suffix, the amount is interpreted as “percent of” versus the absolute value entered.

S

Early Penalty

Amount paid by Lessee for terminating lease prior to expiration. If Option = Return; Number ≥ 0, may be blank. If entered with a “%” Suffix, the amount is interpreted as “percent of” versus the absolute value entered.

A

Schedule Number

Use the original Schedule #. This is the unique identifier for a lease.

B

Starting Payment Number

Payment Number with which new step payment begins. (i.e. Payment #1, Payment #13, Payment #25).

C

Number Payments

How many payments the step payment applies to. The total number of payments should equal the duration of the lease.

D

Payment Amount

Amount of payment.

A

Schedule Number

Use the original Schedule #. This is the unique identifier for a lease.

B

Product Category

A grouping of assets by type.

A

Schedule Number

Use the original Schedule #. This is the unique identifier for a lease.

B

External Id

User-defined and previously assigned.

A

Schedule Number

Use the original Schedule #. This is the unique identifier for a lease.

B

Asset Event

EOT Option Type for the asset being removed.

C

Effective Date

For assets being removed. Should be the same as the Date of Modification.

D

Comments

Will appear in the audit trail.

E

Purchase Price

Amount that asset is being purchased in local currency. Do not leave blank. Must be greater than 0.

F

Percent Reduction

For assets being removed. Percent of reduction intended for the asset(s) in the modification.

G

Return Fee

The total fee being paid by Lessee to return equipment or real estate to the Lessor/Landlord. This does not include refurbishment costs or other costs that Lessee may incur to return the asset to the required condition.

H

Borrower Obligation

Borrower’s Obligation is ordinarily associated with TRAC or Split-TRAC leases. It is the maximum dollar value for which the Lessee is responsible after the equipment has been returned. This is an information-only field.

I

Sale Proceeds

The value of any goods sold at the end of term (usually used on a TRAC lease).

J

TRAC Amount

A Terminal Rental Adjustment Clause (TRAC) lease is a type of open-end lease that's used to lease motor vehicles and trailers for commercial use. TRAC leases are often used for automobiles and light-duty trucks, and they usually allow the lessee to make changes to the lease while it's still active. The TRAC amount is the estimated residual value that a Lessee pays to a Lessor at the end of a lease to purchase equipment.

K

Return Shipment Date

The date the assets were physically shipped off the premises.

L

RMA Number

Return Merchandise Authorization number usually issued by the Lessor for assets being returned at end of term.

1

2

3

4

5

6

7

8

9