Common use of PAYMENT OF RENTAL AND OTHER MONIES Clause in Contracts

PAYMENT OF RENTAL AND OTHER MONIES. Each lease is a net lease and Lessee acknowledges and agrees that Lessee's obligation to pay all rental and other sums payable hereunder, and the rights of Lessor in and to such payments, shall be absolute and unconditional and shall not be subject to any abatement, reduction, setoff, counterclaim or other defense for any reason whatsoever. It being the intent of Lessor, and an inducement to Lessor, to enter into the Lease, to claim all available tax benefits of ownership with respect to the Equipment, Lessee acknowledges and agrees that (i) no right, title or interest in the Equipment has been or is intended to be passed to Lessee, other than the right to maintain possession and use of the Equipment for the Original Term, conditioned on Lessee's performance of the terms and conditions of the Lease, (ii) Lessee has not taken and will not at any time during the Original Term take any action which shall cause Lessor to lose any tax benefits of ownership, and (iii) the Stipulated Loss Values (defined in the applicable Lease) agreed to under this Lease are intended to provide recovery by Lessor of such lost tax benefits of ownership.

PAYMENT OF RENTAL AND OTHER MONIES. Each lease is a net lease and Lessee acknowledges and agrees that Lessee's obligation to pay all rental and other sums payable hereunder, and the rights of Lessor in and to such payments, shall be absolute and unconditional and shall not be subject to any abatement, reduction, setoff, counterclaim or other defense for any reason whatsoever. It being the intent of Lessor, and an inducement to Lessor, to enter into the Lease, to claim all available tax benefits of ownership with respect to the Equipment, Lessee acknowledges and agrees that (i) no right, title or interest in the Equipment has been or is intended to be passed to Lessee, other than the right to maintain possession and use of the Equipment for the Original Term, conditioned on Lessee's performance of the terms and conditions of the Lease, (ii) Lessee has not taken and will not at any time during the Original Term Term, take any action which shall cause Lessor to lose any tax benefits of ownership, and (iii) the Stipulated Loss Values (defined in the applicable Lease) agreed to under this Lease are intended to provide recovery by Lessor of such lost tax benefits of ownership.

PAYMENT OF RENTAL AND OTHER MONIES. Each lease is a net lease and Lessee acknowledges and agrees that Lessee's obligation to pay all rental and other sums payable hereunder, and the rights of Lessor in and to such payments, shall be absolute and unconditional and shall not be subject to any abatement, reduction, setoff, counterclaim or other defense for any reason whatsoever. It being the intent of Lessor, and an inducement to Lessor, to enter into the Lease, to claim all available tax benefits of ownership with respect to the Equipment, Lessee acknowledges and agrees that (i) no right, title tide or interest in the Equipment has been or is intended to be passed to Lessee, other than the right to maintain possession and use of the Equipment for the Original Term, conditioned conditional on Lessee's performance of the terms and conditions of the Lease, (ii) Lessee has not taken and will not at any time during the Original Term take any action which shall cause Lessor to lose any tax benefits of ownership, and (iii) the Stipulated Loss Values (defined in the applicable Lease) agreed to under this Lease are intended to provide recovery by Lessor of such lost tax benefits of ownership.