Common use of General Agreement Clause in Contracts

General Agreement. With respect to the Acquired Vehicles, each Lessee and the Lessor each intend that the Base Lease, as supplemented by this Lease Annex, is an operating lease and that the relationship between the Lessor and the Lessees pursuant thereto and hereto shall always be only that of lessor and lessee, and each Lessee hereby declares, acknowledges and agrees that the Lessor has title to and is the owner of the Acquired Vehicles. The Lessees shall not acquire by virtue of the Lease any right, equity, title or interest in or to any Acquired Vehicles, except the right to use the same under the terms of this Operating Lease. The parties agree that this Operating Lease is a “true lease” for all legal, accounting, tax and other purposes and agree to treat this Operating Lease, as it applies to the Acquired Vehicles, as an operating lease for all purposes, including tax, accounting and otherwise. The parties will file all federal, state and local tax returns and reports in a manner consistent with the preceding sentence.

Appears in 5 contracts

Samples: Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc), And Servicing Agreement (Dollar Thrifty Automotive Group Inc), And Servicing Agreement (Dollar Thrifty Automotive Group Inc)

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General Agreement. With respect to the Acquired Vehicles, each Lessee and the Lessor each intend that the Base Lease, as supplemented by this Lease Annex, is an operating lease and that the relationship between the Lessor and the Lessees pursuant thereto and hereto shall always be only that of lessor and lessee, and each Lessee hereby declares, acknowledges and agrees that the Lessor has title to and is the owner of the Acquired Vehicles. The Lessees shall not acquire by virtue of the Lease any right, equity, title or interest in or to any Acquired Vehicles, except the right to use the same under the terms of this the Operating LeaseLease hereof. The parties agree that this Operating Lease is a “true lease” for all legal, accounting, tax and other purposes and agree to treat this Operating Lease, as it applies to the Acquired Vehicles, as an operating lease for all purposes, including tax, accounting and otherwise. The parties will file all federal, state and local tax returns and reports in a manner consistent with the preceding sentence.

Appears in 4 contracts

Samples: Master Motor Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc), Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc), Master Motor Vehicle Lease (Dollar Thrifty Automotive Group Inc)

General Agreement. With respect to the Acquired Lessor-Owned Vehicles, each Lessee the Lessees and the Lessor each intend that the Base LeaseAgreement, as supplemented by this Lease Annex, is an operating lease and that the relationship between the Lessor and the Lessees pursuant thereto and hereto shall always be only that of lessor and lesseelessees, and each Lessee the Lessees hereby declaresdeclare, acknowledges acknowledge and agrees agree that the Lessor has title to and is the owner of the Acquired Lessor-Owned Vehicles. The Lessees shall not acquire by virtue of the Lease any right, equity, title or interest in or to any Acquired Lessor-Owned Vehicles, except the right to use the same under the terms of this the Operating Lease. The parties agree that this the Operating Lease is a "true lease" for all legal, accounting, tax and other purposes and agree to treat this the Operating Lease, as it applies to the Acquired Lessor-Owned Vehicles, as an operating lease for all purposes, including tax, accounting and otherwise. The parties will file all federal, state and local tax returns and reports in a manner consistent with the preceding sentence.

Appears in 3 contracts

Samples: Vehicle Lease Agreement (Budget Group Inc), Vehicle Lease Agreement (Budget Group Inc), Vehicle Lease Agreement (Budget Group Inc)

General Agreement. With respect to the Acquired Vehicles, each Lessee and the Lessor each intend that the Base Lease, as supplemented by this Lease Annex, is an operating lease and that the relationship between the Lessor and the Lessees pursuant thereto and hereto shall always be only that of lessor and lessee, and each Lessee hereby declares, acknowledges and agrees that the Lessor has title to and is the owner of the Acquired Vehicles. The Lessees shall not acquire by virtue of the Lease any right, equity, title or interest in or to any Acquired Vehicles, except the right to use the same under the terms of this the Operating LeaseLease hereof. The parties agree that this Operating Lease is a "true lease" for all legal, accounting, tax and other purposes and agree to treat this Operating Lease, as it applies to the Acquired Vehicles, as an operating lease for all purposes, including tax, accounting and otherwise. The parties will file all federal, state and local tax returns and reports in a manner consistent with the preceding sentence.

Appears in 2 contracts

Samples: Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc), Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

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General Agreement. With respect to the Acquired Vehicles, each the Lessee and the Lessor each intend that the Base Lease, as supplemented by this Lease Annex, is an operating lease and that the relationship between the Lessor and the Lessees Lessee pursuant thereto and hereto shall always be only that of lessor and lessee, and each the Lessee hereby declares, acknowledges and agrees that the Lessor has title to and is the owner of the Acquired Vehicles. The Lessees Lessee shall not acquire by virtue of the Lease any right, equity, title or interest in or to any Acquired Vehicles, except the right to use the same under the terms of this the Operating LeaseLease hereof. The parties agree that this the Operating Lease is a "true lease" for all legal, accounting, tax and other purposes and agree to treat this the Operating Lease, as it applies to the Acquired Vehicles, as an operating lease for all purposes, including tax, accounting and otherwise. The parties will file all federal, state and local tax returns and reports in a manner consistent with the preceding sentence.

Appears in 1 contract

Samples: Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

General Agreement. With respect to the Acquired Vehicles, each Lessee and the Lessor each intend that the Base Lease, as supplemented by this Lease Annex, is an operating lease and that the relationship between the Lessor and the Lessees pursuant thereto and hereto shall always be only that of lessor and lessee, and each Lessee hereby declares, acknowledges and agrees that the Lessor has title to and is the owner of the Acquired Vehicles. The Lessees shall not acquire by virtue of the Lease any right, equity, title or interest in or to any Acquired Vehicles, except the right to use the same under the terms of this the Operating LeaseLease hereof. The parties agree that this the Operating Lease is a "true lease" for all legal, accounting, tax and other purposes and agree to treat this the Operating Lease, as it applies to the Acquired Vehicles, as an operating lease for all purposes, including tax, accounting and otherwise. The parties will file all federal, state and local tax returns and reports in a manner consistent with the preceding sentence.

Appears in 1 contract

Samples: Vehicle Lease and Servicing Agreement (Dollar Thrifty Automotive Group Inc)

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