Common use of True Lease Clause in Contracts

True Lease. The parties intend and agree that for the purposes of all applicable laws (and for all tax and accounting purposes) this Agreement constitutes a true lease and not a Security Interest of any type (including a “security interest” as defined in Section 1-201(37) of the UCC) and confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of this Agreement, and Owner is the owner of the Aircraft and no ownership or other interest with respect to the Aircraft is provided to Lessee under any Transaction Document. Lessee shall not file any tax return that is inconsistent with the provisions of this clause 24.14.

True Lease. The parties intend and agree that for the purposes of all applicable laws this Agreement: (and for all tax and accounting purposesi) this Agreement constitutes a "true lease lease" and not a Security Interest of any type (including a “"security interest” " as defined in Section 1-201(37) of the UCC; and (ii) and confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of this Agreement, and Owner is the owner of the Aircraft and no ownership or 112 other interest with respect to the Aircraft is provided to Lessee under any Transaction Documentthis Agreement. Lessee shall not file any tax return that is inconsistent with the provisions of this clause 24.14Clause 15.12(b).

True Lease. (a) The parties intend and agree that for the purposes of all applicable laws this Agreement: (and for all tax and accounting purposesi) this Agreement constitutes a “true lease lease” and not a Security Interest of any type (including a “security interest” as defined in Section 1-1- 201(37) of the UCC; and (ii) and confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of this Agreement, and Owner is the owner of the Aircraft and no ownership or other interest with respect to the Aircraft is provided to Lessee under any Transaction Document. this Agreement. (b) Lessee shall not file any tax return that is inconsistent with the provisions of this clause 24.14Clause 26.13(a).