Common use of Income Tax Characterization Clause in Contracts

Income Tax Characterization. For purposes of federal income tax, State and local income tax, franchise tax and any other income taxes, the Issuer and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, will treat the Notes as indebtedness of the Issuer and hereby instructs the Trustee to treat the Notes as indebtedness of the Issuer for federal and State tax reporting purposes.

Appears in 9 contracts

Samples: Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc)

AutoNDA by SimpleDocs

Income Tax Characterization. For purposes of federal income taxincome, State state and local income tax, and franchise tax and any other income taxes, the Issuer Issuer, the Noteholders and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, Certificateholders will treat the Notes as indebtedness of the Issuer and hereby instructs instruct the Indenture Trustee to treat the Notes as indebtedness of the Issuer for federal and State state tax reporting purposes.

Appears in 5 contracts

Samples: Indenture (HSBC Automotive Trust (USA) 2007-1), Indenture (HSBC Automotive Trust (USA) 2006-1), Indenture (Household Auto Receivables Corp)

Income Tax Characterization. For purposes of federal income taxincome, State state and local income tax, and franchise tax and any other income taxes, the Issuer Issuer, the Noteholders, the Certificateholders and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, Indenture Trustee will treat the Notes as indebtedness of the Issuer and hereby instructs the Indenture Trustee to treat the Notes as indebtedness of the Issuer for federal and State state tax reporting purposes.

Appears in 5 contracts

Samples: Indenture (Household Auto Receivables Corp), Indenture (Household Auto Receivables Corp), Indenture (Household Automotive Trust v Series 2000 2)

Income Tax Characterization. For purposes of federal income tax, State and local income tax, franchise tax and any other income taxes, the Issuer and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, will treat the Notes such Note as indebtedness of the Issuer and hereby instructs the Trustee to treat the Notes as indebtedness of the Issuer for federal and State tax reporting purposes.

Appears in 3 contracts

Samples: Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc)

Income Tax Characterization. For purposes of federal income taxincome, State state and local income tax, and franchise tax and any other income taxes, the Issuer Issuer, the Noteholders, the Certificateholders and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, Trustee will treat the Notes as indebtedness of the Issuer and hereby instructs the Trustee to treat the Notes as indebtedness of the Issuer for federal and State state tax reporting purposes.

Appears in 3 contracts

Samples: Indenture (Household Auto Receivables Corp), Indenture (Household Auto Receivables Corp), Indenture (Household Automobile Revolving Trust I)

Income Tax Characterization. For purposes of federal income tax, State state and local income tax, franchise tax and any other income taxes, the Issuer and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, Noteholder will treat the Notes Note as indebtedness of the Issuer and hereby instructs instruct the Trustee to treat the Notes Note as indebtedness of the Issuer for federal and State all such tax reporting purposes.

Appears in 2 contracts

Samples: Variable Funding Note (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc)

Income Tax Characterization. For purposes of federal income tax, State and local income tax, tax franchise tax and any other income taxes, the Issuer and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, will treat the Notes as indebtedness of the Issuer and hereby instructs the Trustee to treat the Notes as indebtedness of the Issuer for federal and State tax reporting purposes.

Appears in 2 contracts

Samples: Indenture (Consumer Portfolio Services Inc), Indenture (Consumer Portfolio Services Inc)

AutoNDA by SimpleDocs

Income Tax Characterization. For purposes of federal income tax, State state and local income tax, franchise tax and any other income taxes, the Issuer and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, Noteholder will treat the Notes Note as indebtedness of the Issuer and hereby instructs the Trustee to treat the Notes Note as indebtedness of the Issuer for federal and State all such tax reporting purposes.

Appears in 1 contract

Samples: Indenture (Consumer Portfolio Services Inc)

Income Tax Characterization. For purposes of federal income tax, State state and local income tax, tax franchise tax and any other income taxes, the Issuer and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, will treat the Notes as indebtedness of the Issuer and hereby instructs the Trustee to treat the Notes as indebtedness of the Issuer for federal and State state tax reporting purposes.

Appears in 1 contract

Samples: Indenture (Consumer Portfolio Services Inc)

Income Tax Characterization. For purposes of U.S. federal income tax, State and local income tax, franchise tax and any other income taxes, the Issuer and each Noteholder, by its acceptance of its Note or in the case of a Note Owner, by its acceptance of a beneficial interest in a Note, will treat the Notes such Note as indebtedness of the Issuer and hereby instructs the Trustee to treat the Notes as indebtedness of the Issuer for U.S. federal and State tax reporting purposes.

Appears in 1 contract

Samples: Indenture (Consumer Portfolio Services Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!