Definitions for "Interim Rent"
A charge for the use of a piece of equipment from its in-service date, or delivery date, until the date on which the base term of the lease commences. The daily interim rent charge is typically equal to the daily equivalent of the base term commencement date for a lease agreement having multiple deliveries of equipment.
The daily rent charged for an asset from its installation and acceptance by the lessee to the first day of the full billing period.
Interim rent is a one-time daily rental charge for a period of time between the day the equipment is delivered/accepted and the first invoice date. It is a partial payment for using the equipment during a partial month, and will be billed to the lessee on the first invoice.