Terminal rental adjustment clauses - 75 Pa. Cons. Stat. § 1139

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     § 1139.  Terminal rental adjustment clauses.
        Notwithstanding any other provision of law, a lease agreement
     which pertains to the commercial use of a motor vehicle or
     trailer and which includes a terminal rental adjustment clause
     does not create a sale or security interest merely because the
     terminal rental adjustment clause provides that the rental price
     is permitted or required to be adjusted under the agreement
     either upward or downward by reference to the actual value of
     the motor vehicle or trailer upon lease termination or sale or
     other disposition of the motor vehicle or trailer. Actual value
     shall be determined as agreed upon by the parties. This section
     is not applicable to a consumer lease agreement pertaining to a
     motor vehicle or trailer leased or used primarily for personal,
     family or household purposes.
     (July 6, 1995, P.L.315, No.48, eff. 60 days)

        1995 Amendment.  Act 48 added section 1139.

Last modified: November 27, 2007