(1) The party to a lease agreement who is obligated to pay the rentals and perform other duties, and is entitled to possess the equipment during the lease term. (2) The person entitled under an oil and gas lease to drill and operate wells, paying the lessor a royalty and retaining the remainder known as the "working interest." The lessee pays all production costs out of his fraction, the lessor's fraction being free and clear of all such costs.
An independent marketer who leases the station and land and has use of tanks, pumps, signs, etc. A lessee dealer typically has a supply agreement with a refiner or distributor and purchases products at dealer tank-wagon prices. The term "lessee dealer" is limited to those dealers who are supplied directly by a refiner or any affiliate or subsidiary of the reporting company. "Direct supply" includes use of commission agent or common carrier delivery.
The party to the lease agreement who is obligated to pay the rentals and perform other duties. Such lessee may also be deemed the owner and title holder of the equipment for which rentals are being paid under a lease-purchase arrangement
It is the person who rents a property from its owner. These properties can be real estate, precious metals or other assets. For instance, when the asset is real estate the lessee is known as the tenant.
The lessee, as contractual partner of the lessor, leases an asset over a certain basic lease period. The lessee uses the leased object, which is normally the legal and beneficial property of the lessor, on the basis of the lease contract. At the lessee, the leased object is an off-balance sheet item and thus is not subject to Germany's corporation tax. The lease installments are fully deductible as operating expenses in the lessee's income statement. If, pursuant to the German § 39 General Tax Code, as well as the leasing decree dated 04/19/1971, the lessee is the beneficial owner, the lessee must capitalize the asset. In that case, the lessee can only claim the interest element of the lease payments and depreciation od the asset as operating expenses. The lessee may then only claim the interest as operating expenses.