Common use of Lessee Owner for Tax Purposes Clause in Contracts

Lessee Owner for Tax Purposes. With respect to each Leased Property, it is the intent of the Lessee and the Funding Parties that for federal, state and local tax purposes (A) the Lessee owns such Leased Property and will be entitled to all tax benefits ordinarily available to an owner of property similar to such Leased Property, (B) the Lease will be treated as a financing arrangement, and (C) the Lessor will be treated as a lender making loans to the Lessee. Each of the Lessee and each Funding Party agrees to file tax returns consistent with such intent. Nevertheless, the Lessee acknowledges and agrees that no Funding Party or any other Person has made any representations or warranties concerning the tax, financial, accounting or legal characteristics or treatment of the Operative Documents and that the Lessee has obtained and relied solely upon the advice of its own tax, accounting and legal advisors concerning the Operative Documents and the accounting, tax, financial and legal consequences of the transactions contemplated therein.

Lessee Owner for Tax Purposes. With respect to each Leased Property, it is the intent of the Lessee Lessees and the Funding Parties that for federal, state and local tax purposes (A) and bankruptcy law purposes the Lease shall be treated as the repayment and security provisions of a loan by the Lessor to the Lessees, and that the related Lessee owns shall be treated as the legal and beneficial owner entitled to any and all benefits of ownership of such Leased Property and will be entitled to all tax benefits ordinarily available to an owner payments of property similar to such Leased Property, (B) Basic Rent during the Lease will Term shall be treated as a financing arrangement, payments of interest and (C) the Lessor will be treated as a lender making loans to the Lessee. Each of the Lessee and each Funding Party agrees to file tax returns consistent with such intentprincipal. Nevertheless, the each of Concord and each other Lessee acknowledges and agrees that no neither the Agent, nor any Funding Party or Party, nor any other Person has made any representations or warranties concerning the tax, financial, accounting or legal characteristics or treatment of the Operative Documents and that the each of Concord and each other Lessee has obtained and relied solely upon the advice of its own tax, accounting and legal advisors concerning the Operative Documents and the accounting, tax, financial and legal consequences of the transactions contemplated therein.

Lessee Owner for Tax Purposes. With respect to each Leased Property, it is the intent of the Lessee and the Funding Parties that for federal, state and local tax purposes (A) and commercial and bankruptcy law purposes the Lease shall be treated as the repayment of, and security provisions with respect to, a loan made by the Lessor to the Lessee, and that the Lessee owns shall be treated as the legal and beneficial owner entitled to any and all benefits of ownership of such Leased Property and will be entitled to all tax benefits ordinarily available to an owner payments of property similar to such Leased Property, (B) Basic Rent during the Lease will Term shall be treated as a financing arrangement, payments of interest and (C) the Lessor will be treated as a lender making loans to the Lessee. Each of the Lessee and each Funding Party agrees to file tax returns consistent with such intentprincipal. Nevertheless, the Lessee acknowledges and agrees that no neither the Agent, nor any Funding Party or Party, nor any other Person has made any representations or warranties concerning the tax, financial, accounting or legal characteristics or treatment of the Operative Documents and that the Lessee has obtained and relied solely upon the advice of its own tax, accounting and legal advisors concerning the Operative Documents and the accounting, tax, financial and legal consequences of the transactions contemplated therein.