Common use of Ownership of the Property Clause in Contracts

Ownership of the Property. (a) Lessor and Lessee intend that (i) for financial accounting purposes with respect to Lessee (A) this Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, (B) Lessor will be treated as the owner and lessor of the Properties and (C) Lessee will be treated as the lessee of the Properties, but (ii) for federal, state and local income tax and all other purposes (A) this Lease will be treated as a financing arrangement, (B) the Lenders will be treated as senior lenders making loans to Lessee in an amount equal to the Loans, which Loans will be secured by the Properties, (C) Lessor will be treated as a subordinated lender making a loan to Lessee in an amount equal to the Investor Contribution, which loan is secured by the Properties, and (D) Lessee will be treated as the owner of the Properties and will be entitled to all tax benefits ordinarily available to an owner of property like such Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein.

Ownership of the Property. (a) Lessor and Lessee intend that (i) for financial accounting purposes with respect to Lessee (A) this Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, (B) Lessor will be treated as the owner and lessor of the Properties Property and (C) Lessee will be treated as the lessee of the PropertiesProperty, but (ii) for federal, state and local income tax and all other purposes (A) this Lease will be treated as a financing arrangement, (B) the Lenders will be treated as senior lenders making loans to Lessee in an amount equal to the Loans, which Loans will be secured by the PropertiesProperty, (C) Lessor will be treated as a subordinated lender making a loan to Lessee in an amount equal to the Investor Lessor Contribution, which loan is secured by the PropertiesProperty, and (D) Lessee will be treated as the owner of the Properties Property and will be entitled to all tax benefits ordinarily available to an owner of property like such the Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein.

Ownership of the Property. (a) Lessor and Lessee The parties hereto intend that (i) for financial accounting purposes with respect to Lessee Lessee, Agent Lessor, the Lessors and the Lenders (A) this Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, (B) Agent Lessor will be treated as the owner and lessor of the Properties Property and (C) Lessee will be treated as the lessee of the PropertiesProperty, but (ii) for federal, state and local income tax and all other purposes (A) this Lease will be treated as a financing arrangement, (B) the Lessors and the Lenders will be treated as senior lenders making loans to Lessee in an amount equal to the sum of the Lessor Contributions and the outstanding principal amount of the Loans, which Loans will be loans are secured by the Properties, (C) Lessor will be treated as a subordinated lender making a loan to Lessee in an amount equal to Land and the Investor Contribution, which loan is secured by the PropertiesProperty, and (DC) Lessee will be treated as the owner of the Properties Land and the Property and will be entitled to all tax benefits ordinarily available to an owner of land and property like such the Land and the Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein.

Ownership of the Property. (a) Lessor and Lessee intend that (i) ------------------------- for financial accounting purposes with respect to Lessee (A) this Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, (B) Lessor will be treated as the owner and lessor of the Properties Property and (C) Lessee will be treated as the lessee of the PropertiesProperty, but (ii) for federal, state and local income tax and all other purposes (A) this Lease will be treated as a financing arrangement, (B) the Lenders will be treated as senior lenders making loans to Lessee in an amount equal to the Loans, which Loans will be secured by the PropertiesProperty, (C) Lessor Investor will be treated as a subordinated lender making a loan to Lessee in an amount equal to the Investor Contribution, which loan is secured by the PropertiesProperty, and (D) Lessee will be treated as the owner of the Properties Property and will be entitled to all tax benefits ordinarily available to an owner of property like such the Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein.

Ownership of the Property. (a) Lessor and Lessee The parties hereto intend that (i) for financial accounting purposes with respect to the Lessee (A) this the Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, (B) the Lessor will be treated as the beneficial owner and lessor of the Properties Property and (C) the Lessee will be treated as the lessee of the PropertiesProperty, but (ii) for federal, state and local income tax and all other purposes (A) this the Lease will be treated as a financing arrangement, (B) the Lenders will be treated as senior lenders making loans to the Lessee in an amount equal to the Loans, which Loans will be secured by the PropertiesProperty, (C) the Lessor will be treated as a subordinated lender making a loan to the Lessee in an amount equal to the Investor Contribution, which loan is secured by the PropertiesProperty, and (D) the Lessee will be treated as the beneficial owner of the Properties Property and will be entitled to all tax benefits ordinarily available to an owner of property like such the Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein.

Ownership of the Property. (a) Lessor and Lessee The parties hereto intend that (i) for financial accounting purposes with respect to Lessee Lessee, Agent Lessor, the Lessors and the Lenders (A) this Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, (B) Agent Lessor will be treated as the owner and lessor of the Properties Property and (C) Lessee will be treated as the lessee of the PropertiesProperty, but (ii) for federal, state and local income tax and all other purposes (A) this Lease will be treated as a financing arrangement, (B) the Lessors and the Lenders will be treated as senior lenders making loans to Lessee in an amount equal to the sum of the Lessor Contributions and the outstanding principal amount of the Loans, which Loans will be loans are secured by the Properties, (C) Lessor will be treated as a subordinated lender making a loan to Lessee in an amount equal to Land and the Investor Contribution, which loan is secured by the PropertiesProperty, and (DC) Lessee will be treated as the owner of the Properties Land and the Property and will be entitled to all tax benefits ordinarily available to an owner of land and property like such the Land and the Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein.

Ownership of the Property. (a) Lessor and Lessee intend that (i) ------------------------- for financial accounting purposes with respect to Lessee (A) this Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, (B) Lessor will be treated as the owner and lessor of the Properties Property and (C) Lessee will be treated as the lessee of the PropertiesProperty, but (ii) for federal, state and local income tax and all other remedial purposes (A) this Lease will be treated as a financing arrangement, (B) the Lenders will be treated as senior lenders making loans to Lessee in an amount equal to the Loans, which Loans will be secured by the PropertiesProperty, (C) Lessor will be treated as a subordinated lender making a loan to Lessee in an amount equal to the Investor Contribution, which loan is secured by the PropertiesProperty, and (D) Lessee will be treated as the owner of the Properties Property and will be entitled to all tax benefits ordinarily available to an owner of property like such the Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein.

Ownership of the Property. (a) Lessor and Lessee intend that (i) ------------------------- for financial accounting purposes with respect to Lessee (A) this Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, and all EITF pronouncements relating thereto, (B) Lessor will be treated as the owner and lessor of the Properties Property and (C) Lessee will be treated as the lessee of the PropertiesProperty, but (ii) for federal, state and local income tax and sales taxes and all other purposes (A) this Lease will be treated as a financing arrangement, (B) the Lenders SPC will be treated as a senior lenders lender making loans to Lessee in an amount equal to the SPC Loans, which SPC Loans will be secured by the PropertiesProperty, (C) Lessor will be treated as a subordinated lender making a loan to Lessee in an amount equal to the Investor Contribution, which loan is secured by the PropertiesProperty, and (D) Lessee will be treated as the owner of the Properties Property and will be entitled to all tax benefits ordinarily available to an owner of property like such the Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein.