Common use of Tax Characterization Clause in Contracts

Tax Characterization. Neither the 2017-A Exchange Noteholder or any party to this 2017-A Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172012-A Exchange Noteholder or any party to this 20172012-A Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172019-A Exchange Noteholder or any party to this 20172019-A Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172016-A Exchange Noteholder or any party to this 20172016-A Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172018-A B Exchange Noteholder or any party to this 20172018-A B Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172018-A Exchange Noteholder or any party to this 20172018-A Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172020-A B Exchange Noteholder or any party to this 20172020-A B Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172019-A B Exchange Noteholder or any party to this 20172019-A B Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172016-A B Exchange Noteholder or any party to this 20172016-A B Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172021-A Exchange Noteholder or any party to this 20172021-A Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172013-A Exchange Noteholder or any party to this 20172013-A Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172015-A Exchange Noteholder or any party to this 20172015-A Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172015-A B Exchange Noteholder or any party to this 20172015-A B Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172013-A B Exchange Noteholder or any party to this 20172013-A B Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.

Tax Characterization. Neither the 20172014-A Exchange Noteholder or any party to this 20172014-A Exchange Note Supplement will elect or permit an election to be made to treat the Titling Trust or any Specified Interest as an association taxable as a corporation for U.S. federal income tax purposes pursuant to Treasury Regulation Section 301.7701-3.