Intended Tax Characterization. It is the intention of the parties hereto that, for the purposes of all Taxes, the transactions contemplated hereby shall be treated as a loan by the Purchasers (through the Agent) to the Seller that is secured by the Receivables (the "Intended Tax Characterization"). The parties hereto agree to report and otherwise to act for the purposes of all Taxes in a manner consistent with the Intended Tax Characterization. As provided in Section 5.1(g), the Seller hereby grants to the Agent, for the ratable benefit of the Purchasers, a security interest in all Receivables and Collections to secure the payment of all amounts other than Investment owing hereunder and (to the extent of the Sold Interest) to secure the repayment of all Investment.
Intended Tax Characterization. It is the intention of the parties hereto that, for the purposes of all Taxes, the transactions contemplated hereby shall be treated as a loan by the Purchasers (through the Agent) to the Seller that is secured by the Receivables (the “Intended Tax Characterization”). The parties hereto agree to report and otherwise to act for the purposes of all Taxes in a manner consistent with the Intended Tax Characterization.
Intended Tax Characterization. The parties hereto agree that it is their mutual intent that, for all applicable tax purposes, the Class A Notes and the Class B Notes shall constitute indebtedness and that for all applicable tax purposes, accordingly, the Trust shall be treated as sole and exclusive owner of the Pledged Property. Further, each party hereto, and each Noteholder (by receiving and holding a Note), hereby covenants to every other party hereto and the Noteholders to treat the Class A Notes and the Class B Notes as indebtedness for all applicable tax purposes in all tax filings, reports and returns and otherwise, and further covenants that neither it nor any of its Affiliates will take or participate in the taking of, or permit to be taken, any action that is inconsistent with the treatment of the Class A Notes or of the Class B Notes as indebtedness for tax purposes. All successors and assigns of the parties hereto shall be bound by the provisions hereof.
Intended Tax Characterization. The Seller Parties, the Administrative Agent and the Purchasers intend and agree that, for the purposes of all Taxes, the transactions contemplated hereby shall be treated as loans by the Purchasers to the Seller that are secured by the Receivables, all Related Security and all Collections with respect thereto (the “Intended Tax Characterization”). The Seller Parties, the Agent and the Purchasers hereto agree to report and otherwise to act for the purposes of all Taxes in a manner consistent with the Intended Tax Characterization. Under the Intended Tax Characterization, (i) each purchase of a Receivables Interest shall be treated as a loan; (ii) Collections transferred to the Purchasers in reduction of their Capital in respect of a Receivables Interest shall be treated as repayment of loan principal; and (iii) Yield in respect of a Receivables Interest shall be treated as interest.
Intended Tax Characterization. The parties hereto agree that it is their mutual intent that, for all applicable tax purposes, the Note will constitute indebtedness and that for all applicable tax purposes, accordingly, the Issuer will be treated as owner of the Collateral. Further, each party hereto and the holder of the Note (or an interest therein) (by receiving and holding the Note or an interest therein), hereby covenants to every other party hereto to treat the Note as indebtedness for all applicable tax purposes in all tax filings, reports and returns and otherwise, and further covenants that neither it nor any of its affiliates will take, or participate in the taking of or permit to be taken, any action that is inconsistent with the treatment of the Note as indebtedness for tax purposes unless otherwise directed by law, rule or regulation or order of any governmental authority. All successors and assigns of the parties hereto shall be bound by the provisions hereof.
Intended Tax Characterization. The parties hereto agree that it is their mutual intent that, for all applicable tax purposes, the Notes will constitute indebtedness. Further, each party hereto and each Noteholder (by receiving and holding a Note), hereby covenants to every other party hereto and to every other Noteholder to treat the Notes as indebtedness for all applicable tax purposes in all tax filings, reports and returns and otherwise, and further covenants that neither it nor any of its Affiliates will take, or participate in the taking of or permit to be taken, any action that is inconsistent with the treatment of the Notes as indebtedness for tax purposes unless otherwise directed by law, rule or regulation or order of any Governmental Authority. All successors and assigns of the parties hereto shall be bound by the provisions hereof.
Intended Tax Characterization. The parties hereto intend and agree that, for the purposes of all Taxes, each Advance constitutes debt that is secured by the Pool Receivables, all Related Security and all Collections with respect thereto (the “Intended Tax Characterization”). The parties hereto agree to report and otherwise to act for the purposes of all Taxes in a manner consistent with the Intended Tax Characterization. Section 12.5
Intended Tax Characterization. The parties hereto intend and agree that, for the purposes of all Taxes, each Advance constitutes indebtedness that is secured by the Pool Receivables, all Related Security and all Collections with respect thereto (the “Intended Tax Characterization”). Except to the extent otherwise required pursuant to a “determination” (as defined in Section 1313(a) of the Code or any similar provision of U.S. state or local or non-U.S. tax Law), all parties hereto agree to report and otherwise to act for all applicable Tax purposes in a manner consistent with the Intended Tax Characterization.
Intended Tax Characterization. It is the intention of the parties hereto and to the other Transaction Documents that, for the purposes of all U.S. federal, state and local income and franchise taxes, the transactions contemplated hereby shall be treated as loans by the applicable Lenders to the Borrower that are secured by the Financed Receivables (the “Intended Tax Characterization”). The parties hereto agree to report and otherwise to act for the purposes of all U.S. federal, state and local income and franchise taxes in a manner consistent with the Intended Tax Characterization.
Intended Tax Characterization. The parties hereto agree that it is their mutual intent that, for all applicable tax purposes, the Class A Notes and the Subordinate Notes will constitute indebtedness and that for all applicable tax purposes, accordingly, the Trust will be treated as sole and exclusive owner of the Pledged Property. Further, each party hereto and each Noteholder (by receiving and holding a Note), hereby covenants to every other party hereto and to every other Noteholder to treat the Class A Notes and the Subordinate Notes as indebtedness for all applicable tax purposes in all tax filings, reports and returns and otherwise, and further covenants that neither it nor any of its Affiliates will take, or participate in the taking of or permit to be taken, any action that is inconsistent with the treatment of the Class A Notes or
