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Lease

An agreement between two parties whereby one party allows the other to use his/her property for a certain period of time in exchange for a periodic fee. The property covered in a lease is usually real estate or equipment such as an automobile or machinery. There are two main kinds of leases. A capital lease is long-term and ownership of the asset transfers to the lessee at the end of the lease. An operating lease, on the other hand, is short-term and the lessor retains all rights of ownership at all times.

let

To rent out.

References in periodicals archive ?
Canon Marilyn Dean, of the diocese of Saskatchewan, who moved the motion of support for Letting Down the Nets called the initiative "too important a piece of work to disappear.
In spite of Thatcher's policy of starving the city of funding, at the end of our term, Liverpool's debt per head of population was the same as England's major cities and, far from letting down children, Liverpool was honoured by education experts as the only city opening nursery classes during a period of savage cuts.
I am convinced that the people we have on board, including the steering committee of Letting Down the Nets and our regional consultants working together the way we do, which is very collegial, very much a team effort, that we have more than enough expertise collectively, more than enough vision and passion for the work," he said in an interview.
The dioceses of Western Newfoundland, Nova Scotia and Prince Edward Island, Fredericton, Ottawa, Edmonton and Rupert's Land have been chosen as pilot areas for Letting Down The Nets, an initiative approved by General Synod in 2004 to help churches "improve their financial capacity and resources for ministry and mission at all levels.
Our belief is that there are ways of improving what we do," said Canon Geoff Jackson, senior financial development officer in charge of the national church's Letting Down the Nets stewardship and gift planning initiative.
Again I can only apologise for this, we feel let down by our partners and ultimately feel we are letting down you too.
Heard that the diocese of New Westminster has donated $320,000 in seed money to General Synod's Letting Down the Nets stewardship and gift planning initiative.