Common use of Limitation of Powers Clause in Contracts

Limitation of Powers. The Pass Through Trust is constituted solely for the purpose of making the investment in the Lessor Notes, and, except as set forth herein, the Pass Through Trustee is not authorized or empowered to acquire any other investments or engage in any other activities and, in particular, the Pass Through Trustee is not authorized or empowered to do anything that would cause the Pass Through Trust to fail to qualify as a pass through entity for federal income tax purposes (including, as subject to this restriction, acquiring any Undivided Interest or any portion thereof by bidding the Lessor Notes or otherwise, or taking any action with respect to any Undivided Interest or any portion thereof once acquired).

Limitation of Powers. The Pass Through Trust is constituted solely for the purpose of making the investment in the Lessor Notes, and, except as set forth herein, the Pass Through Trustee is not authorized or empowered to acquire any other investments or engage in any other activities and, in particular, the Pass Through Trustee is not authorized or empowered to do anything that would cause the Pass Through Trust to fail to qualify as a pass through entity for federal income tax purposes (including, as subject to this restriction, acquiring any Undivided Interest Facility or any portion thereof by bidding the Lessor Notes or otherwise, or taking any action with respect to any Undivided Interest Facility or any portion thereof once acquired).

Limitation of Powers. The Pass Through Trust is constituted solely for the purpose of making the investment in the Lessor Notes, and, except as set forth herein, the Pass Through Trustee is not authorized or empowered to acquire any other investments or engage in any other activities and, in particular, the Pass Through Trustee is not authorized or empowered to do anything that would cause the Pass Through Trust to fail to qualify as a pass through entity grantor trust for federal income tax purposes (including, as subject to this restriction, acquiring any Undivided Interest or any portion thereof a Facility by bidding the Lessor Notes or otherwise, or taking any action with respect to any an Undivided Interest or any portion thereof a Facility once acquired).