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 (including sales and use taxes) purposes and commercial and bankruptcy law purposes the Lease shall be treated as the repayment and security provisions of a loan by the Lessor to the Lessee, and that the Lessee shall be treated as the legal and beneficial owner entitled to any and all benefits and burdens of ownership of such Leased Property and all payments of Basic Rent during the Lease Term shall be treated as payments of interest. To the extent allowable under applicable law, each of the Lessee and each Funding Party agrees to file or cause to be filed all federal, state and local tax returns filed by it or on its behalf consistently with such intent. Each of Guarantor and the Lessee acknowledges and agrees that neither the Agent, nor any Funding 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 each of Guarantor and 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 It is the intent of the Lessee and the Funding Parties Lessor that for federal, state and local tax purposes (including sales A) the Lessee owns the Property and use taxeswill be entitled to all tax benefits ordinarily available to an owner of property similar to the Property, (B) purposes and commercial and bankruptcy law purposes the Lease will be treated as a financing arrangement, and (C) the Lessor will be treated as a lender making loans to the Lessee. Consistent with such characterization (i) the Basic Rent shall be treated as interest, (ii) the repayment and security provisions of a loan by the Lessor to the Lessee, and that the Lessee Lessor's Invested Amounts shall be treated as principal of a loan, and (iii) the legal and beneficial owner entitled to any and all benefits and burdens of ownership of such Leased Property and all payments of Basic other Supplemental Rent during the Lease Term shall be treated as payments of interestadditional charges under a loan, for federal income tax purposes. To The Lessor shall not take any actions inconsistent with, or otherwise interfere with, the extent allowable under applicable lawtax position described in the foregoing sentence, each of the Lessee and each Funding Party agrees to file except as required by Applicable Law or cause to be filed all federalby any Governmental Authority. Nevertheless, state and local tax returns filed by it or on its behalf consistently with such intent. Each of Guarantor and the Lessee acknowledges and agrees that neither no Person (including the Agent, nor any Funding Party, nor any other Person Lessor) has made any representations representation or warranties warranty to it concerning the tax, financial, accounting or legal characteristics or treatment of the Operative Documents and that each of Guarantor and 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 (including sales and use taxes) purposes and commercial and bankruptcy law purposes the Lease shall be treated as the repayment and security provisions of a loan by the Lessor to the LesseeLessees, and that the related Lessee shall be treated as the legal and beneficial owner entitled to any and all benefits and burdens of ownership of such Leased Property and all payments of Basic Rent during the Lease Term shall be treated as payments of interestinterest and principal. To The Lessor believes (but makes no representation or warranty) that as of the extent allowable under applicable lawdate hereof, it is not a "variable interest entity" as defined in FASB Interpretation No. 46, "Consolidation of Variable Entities". Nevertheless, each of the Lessee Guarantor and each Funding Party agrees to file or cause to be filed all federal, state and local tax returns filed by it or on its behalf consistently with such intent. Each of Guarantor and the Lessee acknowledges and agrees that neither the Agent, nor any Funding 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 each of Guarantor and the each 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 (including sales and use taxes) purposes and commercial and bankruptcy law purposes the Lease shall be treated as the repayment and security provisions of a loan by the Lessor to the LesseeLessees, and that the related Lessee shall be treated as the legal and beneficial owner entitled to any and all benefits and burdens of ownership of such Leased Property and all payments of Basic Rent during the Lease Term shall be treated as payments of interestinterest and principal. To Each of Lessor and each Lessee shall report the extent allowable under applicable transactions contemplated by the Lease consistent with such treatment and shall take no position contrary thereto unless otherwise required by a determination within the meaning of Section 1313 of the Code or similar provision of state or local law. Nevertheless, each of the Lessee Guarantor and each Funding Party agrees to file or cause to be filed all federal, state and local tax returns filed by it or on its behalf consistently with such intent. Each of Guarantor and the Lessee acknowledges and agrees that neither the Agent, nor any Funding 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 each of Guarantor and the each 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.