LESSEE'S TAX REPRESENTATIONS AND WARRANTIES Sample Clauses

LESSEE'S TAX REPRESENTATIONS AND WARRANTIES. LESSEE represents and warrants to LESSOR and Beneficiary that:
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LESSEE'S TAX REPRESENTATIONS AND WARRANTIES. Lessee represents and warrants to Lessor that (i) at the time Lessor becomes the owner of each Item of Equipment such Item will constitute tangible personal property; (ii) at all times during the Term, with respect to each Item of Equipment, such Item will not constitute property "used predominantly outside the United States" or "tax-exempt use property" within the meaning of Sections 168(g)(1)(A) and 168(h)(1)(A), respectively, of the Code; (iii) in determining the Depreciation Deduction for each Item of Equipment, Lessor shall be entitled to assume that each such Item shall have the applicable recovery period, property classification and useful life specified on the Tax Schedule attached to the Related Exhibit A for such Item; (iv) at the end of the Basic Term with respect to each Item of Equipment, the fair market value of such Item will be an amount equal to at least twenty percent (20%) of the Acquisition Cost thereof, without including in such value any increase or decrease for inflation or deflation during the Basic Term thereof, and after subtracting from such value any cost to Lessor for removal and delivery of possession of such Item to Lessor at the end of the Term thereof; (v) each Item of Equipment will be useful or usable by Lessor at the end of the Term thereof for purposes other than continued leasing by or transfer to any member of the Lessee Group (as such term is defined in Revenue Procedure 75-21, C.B. 1975-1, 715).
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LESSEE'S TAX REPRESENTATIONS AND WARRANTIES. Lessee represents and warrants to Lessor that upon delivery and acceptance of the Aircraft under the Lease and throughout the Term, the Aircraft will qualify for the Assumed Tax Benefits in the hands of Lessor and Lessee and each member of any group of corporations with which Lessee files consolidated, combined or unitary income or franchise tax returns will file such returns, execute such documents and take such other action as the Lease may require or Lessor may reasonably request to facilitate the realization by Lessor of the assumptions stated in this Tax Rider.
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Related to LESSEE'S TAX REPRESENTATIONS AND WARRANTIES

  • LESSEE'S REPRESENTATIONS AND WARRANTIES Lessee represents and warrants that:

  • Lessor’s Representations and Warranties Lessor represents and warrants that it will abide by and conform to all such laws, governmental and airport orders, rules and regulations, as shall from time to time be in effect relating in any way to the operation and use of the Aircraft pursuant to this Agreement.

  • Tenant’s Representations and Warranties The undersigned represents and warrants to Landlord that (i) Tenant is duly organized, validly existing and in good standing in accordance with the laws of the state under which it was organized; (ii) all action necessary to authorize the execution of this Amendment has been taken by Tenant; and (iii) the individual executing and delivering this Amendment on behalf of Tenant has been authorized to do so, and such execution and delivery shall bind Tenant. Tenant, at Landlord's request, shall provide Landlord with evidence of such authority.

  • LANDLORD'S REPRESENTATIONS AND WARRANTIES Landlord represents and warrants to Tenant as follows:

  • Licensor’s Representations and Warranties Licensor represents and warrants to Licensee that:

  • Survival of Covenants, Representations and Warranties All covenants, agreements, representations and warranties made herein or in any documents or other papers delivered by or on behalf of the Borrowers, or any of them, pursuant hereto shall be deemed to have been relied upon by the Lenders, regardless of any investigation made by or on behalf of the Lenders and shall survive the execution and delivery of this Master Agreement and the making by the Lenders of the Loans as herein contemplated and shall continue in full force and effect so long as any Loan, Obligation or any other amount due under this Agreement remains outstanding and unpaid or unsatisfied.

  • Assignor's Representations and Warranties Assignor represents and warrants to Assignee that:

  • Vendor’s Representations and Warranties 1. The Vendor represents and warrants to the Purchaser that:

  • Licensee’s Representations and Warranties LICENSEE represents and warrants that:

  • Covenants, Representations and Warranties The General Partner covenants, represents and warrants that the following are presently true, will be true at the time of each Capital Contribution payment made by the Limited Partner and will be true during the term of this Agreement, to the extent then applicable.

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