The estimated period during which the property is expected to be economically useful by one or more users, with normal repair and maintenance, or the purpose intended at the inception of the lease.
The effective rate to the lessee of cash flows resulting from a lease transaction. The rate includes the compounding effect of interest during the year.
the amount of interconnected pore space in a soil or rock through which fluids can pass, expressed as a percent of bulk volume. Some of the voids and pores in a rock or soil will be filled with static fluid or other material, so that effective porosity is always less than total porosity.
a chemical entity that accepts electrons transferred to it from another compound. It is an oxidizing agent that, by virtue of its accepting electrons, is itself reduced in the process. See also terminal electron acceptor and oxidation-reduction.
a chemical entity that donates electrons to another compound. It is a reducing agent that, by virtue of its donating electrons, is itself oxidized in the process. (see also electron acceptor and oxidation-reduction.)
Options stated in the lease agreement that give the lessee flexibility in its treatment of the leased asset at the end of the lease. Common end of term options include purchasing the asset, renewing the lease or returning the property to the lessor.
(a) any of numerous proteins or conjugated proteins produced by living organisms and functioning as biochemical catalysts. (b) a protein that a living organism uses in the process of degrading a specific compound. The protein serves as a catalyst in the compound's biochemical transformation.
An accounting term used to describe the net investment of owners or stockholders in a business. Under the accounting equation, equity also represents the result of assets less liabilities.
The provision of funds for capital or operating expenses in exchange for capital stock, stock purchase warrants and options in the business financed, without any guaranteed return, but with the opportunity to share in the company's profits. Equity financing includes long-term subordinated securities containing stock options and/or warrants.
Funds placed in trust with a third party, by a borrower for a specific purpose and to be delivered to the borrower only upon the fulfillment of certain conditions.
The period, during which an asset is expected to be useful in a trade or business, used for calculation the maximum allowable term of a tax-oriented lease.
a well employed to extract fluids (either water, gas, free product, or a combination of these) from the subsurface. Extraction is usually accomplished by either a pump located within the well or suction created by a vacuum pump at the ground surface.
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