Common use of Intended Tax Characterization Clause in Contracts

Intended Tax Characterization. The parties hereto intend and agree that, for the purposes of all Taxes, each Advance constitutes indebtedness that is secured by the Pool Receivables, all Related Security and all Collections with respect thereto (the “Intended Tax Characterization”). Except to the extent otherwise required pursuant to a “determination” (as defined in Section 1313(a) of the Code or any similar provision of U.S. state or local or non-U.S. tax Law), all parties hereto agree to report and otherwise to act for all applicable Tax purposes in a manner consistent with the Intended Tax Characterization.

Intended Tax Characterization. The parties hereto intend and agree that, for the purposes of all Taxes, each Advance constitutes indebtedness Indebtedness that is secured by the Pool Receivables, all Related Security and all Collections with respect thereto (the “Intended Tax Characterization”). Except to the extent otherwise required pursuant to a “determination” (as defined in Section 1313(a) of the Code or any similar provision of U.S. state or local or non-U.S. tax Lawlaw), all parties the Lenders and the Borrower hereto agree to report and otherwise to act for the purposes of all applicable Tax purposes Taxes in a manner consistent with the Intended Tax Characterization.