Books and Records; Tax Returns. (a) The Owner Trustee shall be responsible for the keeping of all appropriate books and records relating to the receipt and disbursement of all moneys that it may receive hereunder, or under any other Operative Agreement. The Owner Trustee shall, at the expense of the Owner Trustee, file an application with the Internal Revenue Service for a taxpayer identification number with respect to the trust created hereby. The Owner Trustee shall, at the expense of the Owner Trustee, prepare or cause to be prepared and the Owner Trustee shall sign or file the federal fiduciary tax return with respect to Taxes due and payable by the trust created hereby in connection with the transactions contemplated hereby and by any other Operative Agreement. Each Holder shall furnish the Owner Trustee with all such information as may be reasonably required from such Holder in connection with the preparation of such tax returns. The Owner Trustee shall keep copies of all returns delivered to or filed by it. (b) The Owner Trustee, either in its trust or individual capacities, shall be under no obligation to appear in, prosecute or defend any action, which in its opinion may require it to incur any out-of-pocket expense or any liability unless it shall be furnished with such reasonable security and indemnity against such expense or liability as it may require. The Owner Trustee may, but shall be under no duty to, undertake such action as it may deem necessary at any and all times, without any further action by the Administrative Agent or any Holder to protect the Properties and the rights and interests of the Holders pursuant to the terms of this Trust Agreement; provided, however, that Trust Company may obtain reimbursement for the out-of-pocket expenses and costs of such actions, undertakings or proceedings from the Lessee.
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Books and Records; Tax Returns. (a) The Owner Trustee shall be responsible for the keeping of all appropriate books and records relating to the receipt and disbursement of all moneys that it may receive hereunder, or under any other Operative Agreement. The Owner Trustee shall, at the expense of the Owner TrusteeLessee, file an application with the Internal Revenue Service for a taxpayer identification number with respect to the trust created hereby. The Owner Trustee shall, at the expense of the Owner TrusteeLessee, prepare or cause to be prepared and the Owner Trustee shall sign or and/or file the federal fiduciary tax return with respect to Taxes due and payable by the trust created hereby in connection with the transactions contemplated hereby and by any other Operative Agreement. Each Holder shall furnish the Owner Trustee with all such information as may be reasonably required from such Holder (as such is requested in writing by the Owner Trustee) in connection with the preparation of such tax returns. The Owner Trustee shall keep copies of all returns delivered to or filed by it.
(b) The Owner Trustee, either in its trust or individual capacities, shall be under no obligation to appear in, prosecute or defend any action, which in its opinion may require it to incur any out-of-pocket expense or any liability unless it the Owner Trustee shall be furnished with such reasonable security and indemnity by Lessee (or, at the election of the Majority Secured Parties, by the Holders and the Lenders) against such expense or liability as it may require. The Owner Trustee may, but shall be under no duty to, undertake such action as it may deem necessary at any and all times, without any further action by the Administrative Agent or any Holder Holder, to protect the Properties Property or any portion thereof and the rights and interests of the Holders pursuant to the terms of this Trust Agreement; provided, however, that Trust Company the Owner Trustee may obtain reimbursement for the reasonable out-of-pocket expenses and costs of such actions, undertakings or proceedings from the Lessee.
Appears in 1 contract
Books and Records; Tax Returns. (a) The Owner Trustee shall be responsible for the keeping of all appropriate books and records relating to the receipt and disbursement of all moneys that it may receive hereunder, or under any other Operative Agreement. The Owner Trustee shall, at the expense of the Owner TrusteeLessee, file an application with the Internal Revenue Service for a taxpayer identification number with respect to the trust created hereby. The Owner Trustee shall, at the expense of the Owner TrusteeLessee, prepare or cause to be prepared and the Owner Trustee shall sign or and/or file the federal fiduciary tax return with respect to Taxes due and payable by the trust created hereby in connection with the transactions contemplated hereby and by any other Operative Agreement. Each Holder shall furnish the Owner Trustee with all such information as may be reasonably required from such Holder (as such is requested in writing by the Owner Trustee) in connection with the preparation of such tax returns. The Owner Trustee shall keep copies of all returns delivered to or filed by it.
(b) The Owner Trustee, either in its trust or individual capacities, shall be under no obligation to appear in, prosecute or defend any action, which in its opinion may require it to incur any out-of-pocket expense or any liability unless it the Owner Trustee shall be furnished with such reasonable security and indemnity by Lessee (or, at the election of the Majority Secured Parties, by the Holders and the Lenders) against such expense or liability as it may require. The Owner Trustee may, but shall be under no duty to, undertake such action as it may deem necessary at any and all times, without any further action by the Administrative Agent or any Holder to protect the Properties and the rights and interests of the Holders pursuant to the terms of this Trust Agreement; provided, however, that Trust Company may obtain reimbursement for the out-of-pocket expenses and costs of such actions, undertakings or proceedings from the Lessee.any
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Books and Records; Tax Returns. (a) The Owner Trustee shall be responsible treat the ------------------------------ trust created hereby as a grantor trust for the keeping of all appropriate books federal and records relating to the receipt and disbursement of all moneys that it may receive hereunderstate income tax purposes.
(b) The Trustee shall file, or under any other Operative Agreement. The Owner Trustee shallcause to be filed, at the expense of the Owner Trustee, file an application with the Internal Revenue Service for a taxpayer identification number with respect to the trust created herebyTrust. The Owner Trustee shallInvestor shall prepare and file, at the expense of the Owner Trustee, prepare or cause to be prepared and filed, the Owner Trustee shall sign or file the federal fiduciary Federal tax return return, reports, state tax returns and other forms with respect to the Taxes due and payable by the trust created hereby Trust in connection with the transactions contemplated hereby and or by any the other Operative AgreementDocuments. Each Holder In the event that the Investor shall request the Trustee to cause to be prepared such tax returns, the Investor shall furnish the Owner to Trustee with all such information as may be reasonably required from such Holder the Investor in connection with the preparation of such tax returns. The Owner Trustee shall keep copies of all returns delivered to or filed by itit relating to the Trust.
(bc) The Owner Investor shall sign on behalf of the Trust any and all tax returns of the Trust.
(d) The Trustee, either in its trust or individual capacities, shall be under no obligation to appear in, prosecute or defend any action, which in its opinion may require it to incur any out-of-pocket expense or any liability liability, unless it shall be furnished with such reasonable security and indemnity against such expense or liability as it may require. The Owner Trustee may, but shall be under no duty to, undertake such action as it may deem necessary at any and all times, without any further action by the Administrative Agent or any Holder Investor, to protect the Properties Site and the rights and interests of the Holders Investor pursuant to the terms of this Trust Agreement; provided, however, provided that the Trust Company may obtain reimbursement for the -------- reasonable out-of-pocket expenses and costs of such actionsactions (including reasonable attorneys fees and expenses), undertakings or proceedings from the Lessee.
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Books and Records; Tax Returns. (a) The Owner Trustee shall be responsible for the keeping of all appropriate books and records relating to the receipt and disbursement of all moneys that it may receive hereunder, or under any other Operative Agreement. The Owner Trustee shall, at the expense of the Owner TrusteeLessee, file an application with the Internal Revenue Service for a taxpayer identification number with respect to the trust created hereby. The Owner Trustee shall, at the expense of the Owner TrusteeLessee, prepare or cause to be prepared and the Owner Trustee shall sign or and/or file the federal fiduciary tax return with respect to Taxes due and payable by the trust created hereby in connection with the transactions contemplated hereby and by any other Operative Agreement. Each Holder shall furnish the Owner Trustee with all such information as may be reasonably required from such Holder (as such is requested in writing by the Owner Trustee) in connection with the preparation of such tax returns. The Owner Trustee shall keep copies of all returns delivered to or filed by it.
(b) The Owner Trustee, either in its trust or individual capacities, shall be under no obligation to appear in, prosecute or defend any action, which in its opinion may require it to incur any out-of-pocket expense or any liability unless it the Owner Trustee shall be furnished with such reasonable security and indemnity against such expense or liability as it may require. The Owner Trustee mayby Lessee (or, but shall be under no duty to, undertake such action as it may deem necessary at any and all times, without any further action by the Administrative Agent or any Holder to protect the Properties and the rights and interests of the Holders pursuant to the terms of this Trust Agreement; provided, however, that Trust Company may obtain reimbursement for the out-of-pocket expenses and costs of such actions, undertakings or proceedings from the Lessee.the
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