Common use of Books, Records and Tax Returns Clause in Contracts

Books, Records and Tax Returns. (a) Except for financial statements and tax returns, the Owner Trustee shall be responsible for the keeping of all books and records relating to the receipt and disbursement of all moneys under this Trust Agreement. The Owner Trustee agrees to prepare, sign and/or file and to cause each of the Companies to prepare, sign and/or file all returns and reports with respect to taxes (including but not limited to tax returns and any information, returns or reports for each of the Companies and the Trust, if any) as the applicable Lessees shall direct with respect to all transactions encompassed by the Basic Documents as provided in this Section 7.9. The Owner Trustee shall keep copies of all returns delivered to it or filed by it. The Owner Trustee shall not be personally liable for any tax due and payable in connection with this Trust Agreement or any other Basic Document except for any such tax arising from its own willful misconduct or gross negligence and except for any tax based on or measured by amounts paid to the Owner Trustee as fees or compensation in connection with the transactions contemplated hereby pursuant to Section 7.8 hereof or otherwise.