Ownership of Aircraft. It is hereby agreed among Lessee, the Owner Participant and the Owner Trustee that for all purposes the Owner Trustee will be the owner of the Aircraft (except that the Owner Participant will be the owner for income tax purposes and except under the circumstances contemplated by the proviso to Section 18.2(d) of the Lease) and Lessee will be the lessee thereof, and each party hereto agrees to characterize the Lease as a lease for income tax purposes and all other relevant purposes (subject to the election referred to above).
Appears in 5 contracts
Samples: Participation Agreement (Southwest Airlines Co), Participation Agreement (Southwest Airlines Co), Participation Agreement (Southwest Airlines Co)
