Treatment of Notes as Indebtedness. The Seller, the Owner Trustee and the Certificateholder intend and agree to treat, and to take no action inconsistent with the treatment of, the Notes as indebtedness for federal income tax purposes and for purposes of applicable state or local income taxes, franchise taxes, and any other taxes imposed upon or measured by net income.
Appears in 7 contracts
Samples: Trust Agreement (Franklin Receivables Auto Trust 2003-1), Trust Agreement (Franklin Auto Trust 2004-2), Trust Agreement (Franklin Auto Trust 2004-1)
Treatment of Notes as Indebtedness. The SellerDepositor, the Owner Trustee and the Certificateholder intend and agree to treat, and to take no action inconsistent with the treatment of, the Notes as indebtedness for federal income tax purposes and for purposes of applicable state or local income taxes, franchise taxes, and any other taxes imposed upon or measured by net income.
Appears in 5 contracts
Samples: Trust Agreement (Franklin Auto Trust 2007-1), Trust Agreement (Franklin Auto Trust 2006-1), Trust Agreement (Franklin Receivables LLC)
Treatment of Notes as Indebtedness. The Seller, the Owner Trustee and the each Certificateholder intend and agree to treat, and to take no action inconsistent with the treatment of, the Notes as indebtedness for federal income tax purposes and for purposes of applicable state or local income taxes, franchise taxes, and any other taxes imposed upon or measured by net income.
Appears in 4 contracts
Samples: Trust Agreement (Ace Sec Corp Wells Fargo Financial Auto Owner Trust 2004-A), Trust Agreement (Bank One Auto Securitization LLC), Trust Agreement (Bank One Auto Securitization Trust 2003-1)
Treatment of Notes as Indebtedness. The Seller, the ---------------------------------- Owner Trustee and the Certificateholder Certificateholders intend and agree to treat, and to take no action inconsistent with the treatment of, the Notes as indebtedness for federal income tax purposes and for purposes of applicable state or local income taxes, franchise taxes, and any other taxes imposed upon or measured by net income.
Appears in 1 contract
Treatment of Notes as Indebtedness. The Seller, the Owner ---------------------------------- Trustee and the Certificateholder intend and agree to treat, and to take no action inconsistent with the treatment of, the Notes as indebtedness for federal income tax purposes and for purposes of applicable state or local income taxes, franchise taxes, and any other taxes imposed upon or measured by net income.
Appears in 1 contract
