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concession |
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Concession The per-share or per-bond compensation of a selling group for participating in a corporate underwriting.
concession (1) A discount, rebate, or abatement. Lease concessions may consist of free rent, below-market rent, a larger than normal build-out allowance, reserved parking, 5-year anniversary renovation allowance,or any number of other economic incentives to induce one to lease in a particular building. When investigating the purchase of an income-producing property, one should examine each and every lease in its entirety to determine the existence of any lease concessions that would adversely affect an economic analysis of the property,and one should also obtain estoppel certificates from tenants so that there are no agreements outside the terms of the written leases.(2) A business that operates within the confines of another business or on another property,but usually without a lease. Examples include a shoe-shine concession at the airport, the hot-dog concession at the ball park,or the designer fragrance concession in a department store. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Concessionary leases pose another kind of problem: If a tenant has been given several months of rent-free occupancy, then that tenant's lease should be updated to show the real monthly rental income. But AFA told the appeals court that NWA's imposition of cuts despite flight attendants' rejection of two tentative concessionary agreements gives workers the right to work actions. The result was a nationwide housing and mortgage refinancing bubble, with artificially low interest rates permitting millions of borderline or unqualified borrowers to get mortgage loans on almost concessionary terms. |
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