VETOES

(I) "INSTALLMENT LEASE CONTRACT" MEANS A LEASE CONTRACT
THAT AUTHORIZES OR REQUIRES THE DELIVERY OF GOODS IN SEPARATE LOTS TO
BE SEPARATELY ACCEPTED, EVEN THOUGH -THE LEASE CONTRACT CONTAINS A
CLAUSE "EACH DELIVERY IS A SEPARATE LEASE" OR ITS EQUIVALENT.

(J) "LEASE" MEANS A TRANSFER OF THE RIGHT TO POSSESSION AND
USE OF GOODS FOR A TERM IN RETURN FOR CONSIDERATION, BUT A SALE,
INCLUDING A SALE ON APPROVAL OR A SALE OR RETURN, OR RETENTION OR
CREATION OF A SECURITY INTEREST IS NOT A LEASE. UNLESS THE CONTEXT
CLEARLY INDICATES OTHERWISE, THE TERM INCLUDES A SUBLEASE.

(K) "LEASE AGREEMENT" MEANS THE BARGAIN, WITH RESPECT TO THE
LEASE, OF THE LESSOR AND THE LESSEE IN FACT AS FOUND IN THEIR LANGUAGE
OR BY IMPLICATION FROM OTHER CIRCUMSTANCES INCLUDING COURSE OF
DEALING OR USAGE OF TRADE OR COURSE OF PERFORMANCE AS PROVIDED IN
THIS TITLE. UNLESS THE CONTEXT CLEARLY INDICATES OTHERWISE, THE TERM
INCLUDES A SUBLEASE AGREEMENT.

(L) "LEASE CONTRACT" MEANS THE TOTAL LEGAL OBLIGATION THAT
RESULTS FROM THE LEASE AGREEMENT AS AFFECTED BY THIS TITLE AND ANY
OTHER APPLICABLE RULES OF LAW. UNLESS THE CONTEXT CLEARLY INDICATES
OTHERWISE, THE TERM INCLUDES A SUBLEASE CONTRACT.

(M) "LEASEHOLD INTEREST" MEANS THE INTEREST OF THE LESSOR OR
THE LESSEE UNDER A LEASE CONTRACT.

(N) "LESSEE" MEANS A PERSON WHO ACQUIRES THE RIGHT TO
POSSESSION AND USE OF GOODS UNDER A LEASE. UNLESS THE CONTEXT CLEARLY
INDICATES OTHERWISE, THE TERM INCLUDES A SUBLESSEE.

(O) "LESSEE IN ORDINARY COURSE OF BUSINESS" MEANS A PERSON
WHO IN GOOD FAITH AND WITHOUT KNOWLEDGE THAT THE LEASE TO HIM (OR
HER) IS IN VIOLATION OF THE OWNERSHIP RIGHTS OR SECURITY INTEREST OR
LEASEHOLD INTEREST OF A THIRD PARTY IN THE GOODS LEASES IN ORDINARY
COURSE FROM A PERSON IN THE BUSINESS OF SELLING OR LEASING GOODS OF
THAT KIND BUT DOES NOT INCLUDE A PAWNBROKER. "LEASING" MAY BE FOR CASH
OR BY EXCHANGE OF OTHER PROPERTY OR ON SECURED OR UNSECURED CREDIT
AND INCLUDES RECEIVING GOODS OR DOCUMENTS OF TITLE UNDER A
PREEXISTING LEASE CONTRACT BUT DOES NOT INCLUDE A TRANSFER IN BULK OR
AS SECURITY FOR OR IN TOTAL OR PARTIAL SATISFACTION OF A MONEY DEBT.

(P) "LESSOR" MEANS A PERSON WHO TRANSFERS THE RIGHT TO
POSSESSION AND USE OF GOODS UNDER A LEASE. UNLESS THE CONTEXT CLEARLY
INDICATES OTHERWISE, THE TERM INCLUDES A SUBLESSOR.

(Q) "LESSOR'S RESIDUAL INTEREST" MEANS THE LESSOR'S INTEREST IN
THE GOODS AFTER EXPIRATION, TERMINATION, OR CANCELLATION OF THE LEASE
CONTRACT.

- 3424 -

S.B. 147