Common use of Intention of Parties; True Lease Clause in Contracts

Intention of Parties; True Lease. The Parties hereby declare that their relationship in and to the Xxxxxxx Transmission Loop Assets is and will be that of lessor and lessee, expressly subject to the terms, conditions, limitations and requirements set forth in this Agreement. Nothing contained in this Agreement will be deemed to constitute the Parties as partners or joint venturers or as principal and agent. The Parties intend for this Agreement to constitute a true lease with respect to the Xxxxxxx Transmission Loop Assets for US Federal, state and local income tax purposes, and each Party shall treat the Agreement as a true lease with respect to the Xxxxxxx Transmission Loop Assets for federal income tax reporting purposes. The Parties acknowledge that Lessor is owned, directly or indirectly, in whole or in part by an entity intending to qualify as a real estate investment trust under the Internal Revenue Code of 1986, as amended, and the Parties agree to negotiate in good faith any modification or amendment to this Agreement requested by Lessor to facilitate such qualification; provided that Lessee shall not be obligated to agree to any such modification or amendment if such modification or amendment would materially adversely affect Lessee or would be in conflict with Applicable Law or any regulations or orders of any Regulatory Authority. XXXXXXX TRANSMISSION LOOP LEASE AGREEMENT

Intention of Parties; True Lease. (a) The Parties hereby declare that their relationship in and to the Xxxxxxx/Xxxxx/Xxxxxxx Transmission Loop Lease Assets is and will be that of lessor and lessee, expressly subject to the terms, conditions, limitations and requirements set forth in this Agreement. Nothing contained in this Agreement will be deemed to constitute the Parties as partners or joint venturers or as principal and agent. The Parties intend for this Agreement to constitute a true lease with respect to the Xxxxxxx/Xxxxx/Xxxxxxx Transmission Loop Lease Assets for US Federal, state and local income tax purposes, and each Party shall treat the Agreement as a true lease with respect to the Xxxxxxx/Xxxxx/Xxxxxxx Transmission Loop Lease Assets for federal income tax reporting purposes. . (b) The Parties acknowledge that Lessor is owned, directly or indirectly, in whole or in part part, by an entity intending to qualify as a real estate investment trust under the Internal Revenue Code of 1986, as amended, and the Parties agree to negotiate in good faith any modification or amendment to this Agreement requested by Lessor to facilitate such qualification; provided that Lessee shall not be obligated to agree to any such modification or amendment if such modification or amendment would materially adversely affect Lessee or would be in conflict with Applicable Law or any regulations or orders of any Regulatory Authority. XXXXXXX/XXXXX/XXXXXXX TRANSMISSION LOOP ASSETS LEASE AGREEMENT

Intention of Parties; True Lease. (a) The Parties hereby declare that their relationship in and to the Xxxxxxx Transmission Loop CREZ Lease Assets is and will be that of lessor and lessee, expressly subject to the terms, conditions, limitations and requirements set forth in this Agreement. Nothing contained in this Agreement will be deemed to constitute the Parties as partners or joint venturers or as principal and agent. The Parties intend for this Agreement to constitute a true lease with respect to the Xxxxxxx Transmission Loop CREZ Lease Assets for US Federal, state and local income tax purposes, and each Party shall treat the Agreement as a true lease with respect to the Xxxxxxx Transmission Loop CREZ Lease Assets for federal income , tax reporting purposes. . (b) The Parties acknowledge that Lessor is owned, directly or indirectly, in whole or in part part, by an entity intending to qualify as a real estate investment trust under the Internal Revenue Code of 1986, as amended, and the Parties agree to negotiate in good faith any modification or amendment to this Agreement requested by Lessor to facilitate such qualification; provided that Lessee shall not be obligated to agree to any such modification or amendment if such modification or amendment would materially adversely affect Lessee or would be in conflict with Applicable Law or any regulations or orders of any Regulatory Authority. XXXXXXX TRANSMISSION LOOP CREZ ASSETS LEASE AGREEMENT

Intention of Parties; True Lease. (a) The Parties hereby declare that their relationship in and to the Xxxxxxx ERCOT Transmission Loop Lease Assets is and will be that of lessor and lessee, expressly subject to the terms, conditions, limitations and requirements set forth in this Agreement. Nothing contained in this Agreement will be deemed to constitute the Parties as partners or joint venturers or as principal and agent. The Parties intend for this Agreement to constitute a true lease with respect to the Xxxxxxx ERCOT Transmission Loop Lease Assets for US Federal, state and local income tax purposes, and each Party shall treat the Agreement as a true lease with respect to the Xxxxxxx ERCOT Transmission Loop Lease Assets for federal income tax reporting purposes. ERCOT TRANSMISSION ASSETS LEASE AGREEMENT (b) The Parties acknowledge that Lessor is owned, directly or indirectly, in whole or in part part, by an entity intending to qualify as a real estate investment trust under the Internal Revenue Code of 1986, as amended, and the Parties agree to negotiate in good faith any modification or amendment to this Agreement requested by Lessor to facilitate such qualification; provided that Lessee shall not be obligated to agree to any such modification or amendment if such modification or amendment would materially adversely affect Lessee or would be in conflict with Applicable Law or any regulations or orders of any Regulatory Authority. XXXXXXX ERCOT TRANSMISSION LOOP ASSETS LEASE AGREEMENT