Common use of Interests in the Equipment Clause in Contracts

Interests in the Equipment. The parties hereto intend that (i) for financial accounting purposes with respect to Lessee, Lessor will be treated as the owner and the lessor of each Item of Equipment and Lessee will be treated as the lessee of each Item of Equipment and (ii) for all federal, state and local income tax purposes, state sales, use and other transaction tax purposes, (A) the Operative Documents will be treated as a financing arrangement, (B) Lessor will be deemed a lender making loans to Lessee in an amount equal to the sum of the aggregate of the outstanding Equity Contributions and the outstanding principal amount of the Tranche A Notes and Tranche B Loans and (C) Lessee will be treated as the owner of each Item of Equipment and will be entitled to all tax benefits ordinarily available to an owner of equipment like the Equipment for such tax purposes. Lessor shall take no action inconsistent with the intention of the parties set forth in clause (ii)(C) of this Section 12.

Interests in the Equipment. The parties hereto intend that (ia) for financial accounting purposes with respect to Lessee, Lessor will be treated as the owner and the lessor of each Item of Equipment and Lessee will be treated as the lessee of each Item of Equipment and (iib) for all federal, state and local income tax purposes, state sales, use and other transaction tax purposes, (Ai) the Operative Documents will be treated as a financing arrangement, (Bii) Lessor will be deemed a lender making loans to Lessee in an amount equal to the sum of the aggregate of the outstanding Equity Contributions Components for each Item of Equipment and the outstanding principal amount of the Tranche A Notes and Tranche B Loans and (Ciii) Lessee will be treated as the owner of each Item of Equipment and will be entitled to all tax benefits ordinarily available to an owner of equipment like the Equipment for such tax purposes. Lessor shall take no action inconsistent with the intention of the parties set forth in clause (ii)(Cb)(iii) of this Section 12.

Interests in the Equipment. The parties hereto Txx xxxxxxx xxxxto intend that --------------------------- (i) for financial accounting purposes with respect to Lessee, Lessor will be treated as the owner and the lessor of each Item of Equipment and Lessee will be treated as the lessee of each Item of Equipment and (ii) for all federal, state and local income tax purposes, state sales, use and other transaction tax purposes, (A) the Operative Documents will be treated as a financing arrangement, (B) Lessor will be deemed a lender making loans to Lessee in an amount equal to the sum of the aggregate of the outstanding Equity Contributions and the outstanding principal amount of the Tranche A Notes and Tranche B Loans and (C) Lessee will be treated as the owner of each Item of Equipment and will be entitled to all tax benefits ordinarily available to an owner of equipment like the Equipment for such tax purposes. Lessor shall take no action inconsistent with the intention of the parties set forth in clause (ii)(C) of this Section 12.