VIE - lease residual guarantee

I woke up with the smell of FSA!!! one of the conditions for variable interests is a lease residual guarantee. It says the lessee guarantees the fair value of the asset at the end of the lease. If the fair value is less than the guranteed amount the lessee experiencet a loss. Is the lessee the beneficiary or the vie? Can someone please explain it. thank you

From what it seems. Leasee is wearing the cap of a Primary Beneficiary here, since he id GURANTYING any difference between the FMV of the asset and the lease amount. He must consolidate the VIE

Don’t forget the flipside of this which is the need to consolidate if lesee has the option to purchase asset which presumably he would if the market worth had risen above the agreed strike price.