Common use of Notes to be Treated as Debt for Tax Clause in Contracts

Notes to be Treated as Debt for Tax. It is the intent of the parties hereto that, for purposes of federal, state and local income and franchise tax and any other tax measured in whole or in part by income, the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes shall be treated as debt and a person purchasing such Notes agrees to treat such Notes as debt for such purposes. Notwithstanding the foregoing and the Indenture, no party is bound to treat any Notes beneficially owned during any period of time either by the Issuer or the single beneficial owner of the Issuer for U.S. federal income tax purposes as debt for the purposes described in the preceding sentence.

Notes to be Treated as Debt for Tax. It is the intent of the parties hereto that, for purposes of federal, state and local income and franchise tax and any other tax measured in whole or in part by income, the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes shall be treated as debt and a person purchasing such Notes agrees to treat such Notes as debt for such purposes. Notwithstanding the foregoing and the Indenture, no party is bound to treat any Notes beneficially owned during any period of time either by the Issuer or the single beneficial owner of the Issuer for U.S. federal income tax purposes as debt for the purposes described in it the preceding sentence.