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im barry marks with marks and associates and id like to share with you some of what ive learned over the years representing banks equipment lenders and equipment leasing companies you know one of the most common things that lessee counsel including counsel that is not familiar with equipment leasing likely to say about your lease is that he or she wants a grace period for default for example five days after notice if the rent is not paid on time 30 days right to cure in the event theres another type of default these things sound perfectly reasonable but keep a couple of things in mind first if you allow a lessee five days across the board grace period for paying rent thats basically meaning that that rent could come in every single time five days late what does that do to the economics of your deal what if its ten days or five business days secondly we do not advise agreeing to give notice of failure to pay that brings about a couple of problems first of all if the lessee receive
