Graduated Lease A lease (usually long-term) that is periodically adjusted to reflect the appraised value of the asset being leased. Investopedia Says: For example, if under a graduated lease a company was leasing land for 25 years, every 5 years the lease payments might be adjusted to reflect the current market value of the land. Related Terms: Capital Lease Debt Leaseback Lessee Lessor Operating Lease Synthetic Lease |