“From the standpoint of the Lessee: The payments that the Lessee is obligated to make or can be required to make in connection with the leased property. (Contingent rentals shall be excluded from minimum lease payments.) However, a guarantee by the Lessee of the Lessor’s debt and the Lessee’s obligation to pay (apart from the rental payments) executory costs in connection with the leased property shall be excluded. If the lease contains a bargain purchase option, only the minimum rental payments over the lease term and the payment called for by the bargain purchase option shall be included in the minimum lease payments. Otherwise, minimum lease payments include the following:
“(a) The minimum rental payments called for by the lease over the lease term.
“(b) Any guarantee by the Lessee or any party related to the Lessee [see related parties] of the residual value at the expiration of the lease term, whether or not payment of the guarantee constitutes a purchase of the leased property. … See guaranteed residual; the guaranteed residual is entered in EZLease in the Guaranteed Residual field, not in the rent list, but becomes part of the rental stream.
“(c) Any payment that the Lessee must make or can be required to make upon failure to renew or extend the lease at the expiration of the lease term, whether or not the payment would constitute a purchase or the lease property. In this connection, it should be noted that the definition of lease term includes ‘all periods, if any, for which failure to renew the lease imposes a penalty on the Lessee in an amount such that renewal appears, at the inception of the lease, to be reasonably assured.’ If the lease term has been extended because of that provision, the related penalty shall not be included in minimum lease payments.”