A Lease Only. At all times during the Term, full legal title to the Aircraft (including the Aircraft Documents) shall remain vested in Lessor to the exclusion of Lessee, notwithstanding the delivery thereof to, and the use by, Lessee. Lessor and Lessee agree that this Agreement is intended to be a “lease” within the meaning of 11 U.S.C. Section 1110 and shall constitute a lease for tax purposes.
Appears in 5 contracts
Samples: Air Transportation Services Agreement (Air Transport Services Group, Inc.), Air Transportation Services Agreement (Air Transport Services Group, Inc.), Air Transportation Services Agreement (Air Transport Services Group, Inc.)
A Lease Only. At all times during the Term, full legal title to the Aircraft (including the Aircraft Documents) shall will remain vested in Lessor to the exclusion of Lessee, notwithstanding the delivery thereof toDelivery, and the use of the Aircraft by, Lessee. Lessor and Lessee agree that this Agreement is intended to be a “lease” within the meaning of 11 U.S.C. Section 1110 and shall will constitute a lease for tax purposes.
Appears in 1 contract
Samples: Air Transportation Services Agreement (Air Transport Services Group, Inc.)
