Common use of Tax and Accounting Characterization Clause in Contracts

Tax and Accounting Characterization. (a) It is the intent of the Transferor, the Noteholders and Trust Certificateholders that for purposes of U.S. federal, state and applicable local income and franchise tax and any other tax measured in whole or in part by income, the Notes will be treated as debt secured by the 2022-1 Vehicles and the payments on the 2022-1