What is the term used to describe the calendar year in which a lease's term falls, including its expiration year?

The correct term to describe the calendar year in which a lease’s term falls, including its expiration year, is known as the "Lease Year." This concept is essential in lease agreements as it typically defines the period used for calculating rent, renewals, and other lease obligations.

Understanding the "Lease Year" allows parties to properly structure financial arrangements under the lease, determining when payments are due and aligning other contractual duties within the specific timeframe. The lease year might start on the lease’s commencement date and continue through its expiration, impacting various financial considerations such as pro-rata calculations of rent and other annual costs.

Other terms listed in the choices have distinct meanings that do not encapsulate the totality of the lease’s timeline in the manner that "Lease Year" does. For example, an "Expense Year" generally refers to a financial year focused on expense tracking, while "Rent Year" could be mistakenly viewed as a period for rental payments but lacks the comprehensive application to the entire lease term that "Lease Year" includes. "Contract Year" might similarly denote the period of a contract’s validity but does not specifically pertain to lease agreements and their nuanced fiscal structures.