Common use of Intended Tax Characterization Clause in Contracts

Intended Tax Characterization. The parties hereto agree that it is their mutual intent that, for all applicable tax purposes, the Notes will constitute indebtedness and that for all applicable tax purposes, accordingly, the Issuers will be treated as joint and several owners 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 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 agree that ----------------------------- it is their mutual intent that, for all applicable tax purposes, the Notes Note will constitute indebtedness and that for all applicable tax purposes, accordingly, the Issuers Issuer will be treated as joint and several owners owner of the Pledged PropertyCollateral. Further, each party hereto and each Noteholder the holder of the Note (or an interest therein) (by receiving and holding a Notethe Note or an interest therein), hereby covenants to every other party hereto and to every other Noteholder to treat the Notes 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 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 Note as indebtedness for tax purposes unless otherwise directed by law, rule or regulation or order of any Governmental Authoritygovernmental 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 Note will constitute indebtedness and that for all applicable tax purposes, accordingly, the Issuers Issuer or its owner will be treated as joint and several owners owner of the Pledged PropertyCollateral. Further, each party hereto and each Noteholder the holder of the Note (or an interest therein) (by receiving and holding a Notethe Note or an interest therein), hereby covenants to every other party hereto and to every other Noteholder to treat the Notes 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 Notes Note as indebtedness for tax purposes unless otherwise directed by law, rule or regulation or order of any Governmental Authoritygovernmental 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 Note will constitute indebtedness and that for all applicable tax purposes, accordingly, the Issuers Issuer will be treated as joint and several owners owner of the Pledged PropertyCollateral. Further, each party hereto and each Noteholder the holder of the Note (or an interest therein) (by receiving and holding a Notethe Note or an interest therein), hereby covenants to every other party hereto and to every other Noteholder to treat the Notes 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 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 Note as indebtedness for tax purposes unless otherwise directed by law, rule or regulation or order of any Governmental Authoritygovernmental authority. All successors and assigns of the parties hereto shall be bound by the provisions hereof.