True Lease and Operating Lease. It is the intent of Landlord and Tenant, and the parties agree, that this Agreement, for federal income tax purposes, is a true lease and that this Agreement does not represent a financing agreement. It is the further intent of Landlord and Tenant, and the parties agree, that this Agreement, for accounting purposes of the Tenant, is an operating lease. Each party shall reflect the transaction represented hereby in all applicable books, records and reports (including income tax filings) of such party in a manner consistent with “true lease” treatment rather than “financing” treatment.
Appears in 6 contracts
Samples: Lease Agreement (Service Properties Trust), Lease Agreement (Service Properties Trust), Lease Agreement (Service Properties Trust)
