Other Legal Treatment. For purposes of commercial, real estate and bankruptcy law and other applicable laws, Lessee and Lessor Parties also intend that the transactions evidenced by the Operative Documents shall be treated as loans by the Participants (through Lessor) to Lessee secured by the Property, with Lessee as owner of the Property. Consistent with such treatment, Lessee and the Lessor Parties intend that, among other things for such purposes, (i) the Advances be treated as loans to Lessee by the Participants (through Lessor); (ii) the Advances be secured by the Property and the Lessor Parties have the rights and remedies of secured lenders; (iii) Base Rent be treated as interest on the Advances; (iv) Lessee be required to pay on the applicable Expiration Date only the Residual Value Guaranty Amount, the Indemnity Amount and the other amounts required by Subparagraph 4.06(b) of the applicable Purchase Agreement (or Subparagraph 4.06(c) if Lessor is retaining the Property) if Lessee exercises the Marketing Option in accordance with the applicable Purchase Agreement; and (v) Lessee be required to pay on the applicable Expiration Date the applicable Outstanding Lease Amount and all other amounts outstanding under this Agreement and the other Operative Documents (including amounts required by Subparagraph 4.06(a) of the applicable Purchase Agreement) if the applicable Lease Agreement is terminated prior to its Scheduled Expiration Date after an Event of Default occurs under such Lease Agreement or if Lessee fails to or is otherwise not entitled to exercise the Marketing Option in accordance with the applicable Purchase Agreement.
Other Legal Treatment. For purposes of commercial law, real property law, bankruptcy law and other applicable laws, Lessee and Lessor Parties also intend that the transactions evidenced by the Operative Documents shall be treated as loans by the Participants (through Lessor) to Lessee secured by the Property, with Lessee as owner of the Property. Consistent with such treatment, Lessee and the Lessor Parties intend that, among other things for such purposes, (i) the Advances be treated as loans to Lessee by the Participants (through Lessor); (ii) the Advances be secured by the Property and the Lessor Parties have the rights and remedies of secured lenders; (iii) Base Rent be treated as interest on the Advances; (iv) Lessee be required to pay on the Expiration Date only the Residual Value Guaranty Amount, the Indemnity Amount and the other amounts required by clause (ii) of Subparagraph 4.06(a) of the Purchase Agreement (or clause (iii) of Subparagraph 4.06(a) if Lessor is retaining the Property) if Lessee exercises the
Other Legal Treatment. For purposes of commercial law, real --------------------- property law, bankruptcy law and other applicable laws, Lessee and Funding Parties also intend that the transactions evidenced by the Operative Documents shall be treated as loans by the Funding Parties to Lessee secured by the Leased Property, with Lessee as owner of the Leased Property. Nevertheless, the Lessee acknowledges and agrees that no Funding Party or any other Person has made any representations or warranties concerning the tax, financial, accounting or legal characteristics or treatment of the Operative Documents and that the Lessee has obtained and relied solely upon the advice of its own tax, accounting and legal advisors concerning the Operative Documents and the accounting, tax, financial and legal consequences of the transactions contemplated therein.
