Lessee \Les*see"\ (l[e^]s*s[=e]"), n. [F. laiss['e], p. p. of laisser. See {Lease}, v. t.] (Law) The person to whom a lease is given, or who takes an estate by lease. --Blackstone.
"We contacted the owners in Washington and they confirmed they were repossessing the tugboat due to a lack of payments by the lessee," Crispino said.
These allow the lessor to factor in the residual value of the assets which it will reclaim at the end of the contract so it can offer the lessee lower rental payments. Leasing companies are developing reputations for financing certain classes of assets.
The transaction is subject to various conditions including California Jockey's successful negotiation of a facility lease at Golden Gate Fields with the current lessee, Ladbroke Group.