Definition of Master lease:
Equipment leasing: Continuing lease arrangement under which additional equipment may be leased by executing a new lease schedule instead of negotiating a new lease contract. It is, in effect, a line of credit the lessee can draw upon to finance additional equipment. Terms of the original lease contract apply to all subsequent additions.
Real estate leasing: Controlling lease under which a lessee can sub-lease the property for a period not extending the term of the master lease.
Meaning of Master lease & Master lease Definition