Definitions for "Step-Up Lease"
A lease that provides for increases in rent at set intervals. Increases are sometimes based on appraisals. Also called a graduated lease.
lease providing for specified rent increases at certain future dates. opposite of step-down lease.
(Graded Lease) A lease calling for set increases in rent at set intervals. Sublease A lease executed by a lessee to a third person for a term no longer than the remaining portion of the original lease.