Exhibits and Schedules and Master Leases relation?

• A. Exhibits and Schedules are not to be confused with schedules to master leases
• B. They are the same as master lease schedules
• C. They replace master leases
• D. They are used only for one-off deals

Answer: (A)

Exhibits and Schedules are attachments that provide the detailed, item-specific information the master lease references. They add clarity for what is being leased, how payments are calculated, who handles insurance, maintenance, and other specifics tied to particular assets or transactions. The master lease itself sets the broad framework—the general terms, rights, and obligations—while the Exhibits and Schedules tailor that framework to the exact deal.

They are not the same thing as schedules that are embedded inside the master lease; they remain separate documents attached to the master lease. They do not replace the master lease, and they aren’t limited to one-off deals. Rather, they are used to document the specifics that the master lease groups under its general terms.