Treatment of Lease. Except as otherwise required by Legal Requirements or any accounting rules or regulations, Lessor and Lessee hereby acknowledge and agree that this Lease shall be treated as an operating lease for all purposes and not as a synthetic lease, financing lease or loan, and that Lessor shall be entitled to all the benefits of ownership of the Leased Property, including depreciation for all federal, state and local tax purposes.
Appears in 6 contracts
Samples: Master Transactions and Cooperation Agreement (Brookdale Senior Living Inc.), Master Lease and Security Agreement (Hcp, Inc.), Master Lease and Security Agreement (Emeritus Corp\wa\)
Treatment of Lease. Except as otherwise required by Legal Requirements or any accounting rules or regulations, Lessor and Lessee hereby acknowledge and agree that this Lease shall be treated as an operating lease for all purposes and not as a synthetic lease, financing lease or loan, and that Lessor shall be entitled to all the benefits of ownership of the Leased Property, including depreciation for all federal, state and local tax purposes.
Appears in 5 contracts
Samples: Project Bond Lease Portfolio (Emeritus Corp\wa\), Master Lease and Security Agreement (Emeritus Corp\wa\), Lease Agreement (Capital Senior Living Corp)
Treatment of Lease. Except as otherwise required by Legal Requirements or any accounting rules or regulations, Lessor and Lessee hereby acknowledge and agree that this Lease shall be treated as an operating lease for all purposes and not as a synthetic lease, financing lease or loan, and that Lessor shall be entitled to all the benefits of ownership of the Leased Property, including depreciation for all federal, state and local tax purposes.. [Signature Page Follows]
Appears in 1 contract
Samples: Master Lease Agreement
Treatment of Lease. Except as otherwise required by Legal Requirements or any accounting rules or rulesor regulations, Lessor and Lessee hereby acknowledge and agree that this Lease shall be treated as an operating lease for all purposes and not as a synthetic lease, financing lease or loan, and that Lessor shall be entitled to all the benefits of ownership of the Leased Property, including depreciation for all federal, state and local tax purposes.
Appears in 1 contract
Samples: Master Lease and Security Agreement (Brookdale Senior Living Inc.)
