TRIPLE NET Definition

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TRIPLE NET (NNN) is a lease that includes on top of the basic rent, a share of the real property taxes, insurance, and maintenance. "Triple-net-leases are standard in commercial property leases in shopping centers and malls. Usually done under a limited partnership, resulting in lower risk for investors.

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CONTINUING ACCOUNTING SIGNIFICANCE means matters normally included in the permanent audit documentation, such as the analysis of balance sheet accounts, and those relating to contingencies. Such information from a prior year is used by the auditor in the current year's audit and is updated each year.

CERTIFICATE OF OBLIGATION is a bond issued by a city, without voter approval.

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