Common use of True Lease Clause in Contracts

True Lease. The parties intend and agree that the Lease: (i) constitutes a "true lease", and not a "security interest" as defined in Section 1-201(37) of the UCC; (ii) constitutes a "true lease" for United States Federal income tax purposes; and (iii) confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of the Lease, and no ownership or other interest with respect to the Aircraft is provided to Lessee under the Lease. Lessee shall not file a tax return that is inconsistent with the provisions of this Section 15.9(b).

True Lease. The parties intend and agree that the Leasethis Agreement: (ia) constitutes a "“true lease"”, and not a "“security interest" ” as defined in Section 1-201(37) of the UCC; (iib) to the extent applicable, constitutes a "“true lease" ” for United States Federal federal income tax purposes; and (iiic) confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of the Leasethis Agreement, and no ownership or other interest with respect to the Aircraft is provided to Lessee under the Leasethis Agreement. Lessee shall not file a tax return that is inconsistent with the provisions of this Section 15.9(bClause 22.17 (True Lease).

True Lease. The parties intend and agree that the Lease: (i) constitutes a "true lease", and not a "security interest" as defined in Section 1-201(37) of the UCC; (ii) constitutes a "true lease" for United States Federal income tax purposes; and (iii) confers only a leasehold interest on Lessee in and to the Aircraft Engine on and subject to the terms of the Lease, and no ownership or other interest with respect to the Aircraft Engine is provided to Lessee under the Lease. Lessee shall not file a tax return that is inconsistent with the provisions of this Section 15.9(b).

True Lease. The parties intend and agree that the Lease: (i) constitutes a "true lease", and not a "security interest" as defined in Section 1-201(371201(37) of the UCC; (ii) constitutes a "true lease" for United States Federal income tax purposes; and (iii) confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of the Lease, and no ownership or other interest with respect to the Aircraft is provided to Lessee under the Lease. Lessee shall not file a tax return that is inconsistent with the provisions of this Section 15.9(b).

True Lease. The parties intend and agree that the Lease: : (i) constitutes a "true lease", and not a "security interest" as defined in Section 1-201(371201(37) of the UCC; ; (ii) constitutes a "true lease" for United States Federal income tax purposes; and and (iii) confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of the Lease, and no ownership or other interest with respect to the Aircraft is provided to Lessee under the Lease. Lessee shall not file a tax return that is inconsistent with the provisions of this Section 15.9(b).

True Lease. The parties intend and agree that the Leaseparties: (i) constitutes intend that the Lease constitute a "“true lease"”, and not a "“security interest" ” as defined in Section 1-201(37) of the UCC; (ii) constitutes intend that the Lease constitute a "“true lease" ” for United States Federal income tax purposes; and (iii) agree that the Lease confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of the Lease, and no ownership or other interest with respect to the Aircraft is provided to Lessee under the Lease. Lessee shall not file a tax return that is inconsistent with the provisions of this Section 15.9(b).

True Lease. The parties intend and agree that the Lease: (i) constitutes a "true lease", and not a "security interest" as defined in Section 1-201(37) of the UCC; (ii) constitutes a "true lease" for United States Federal federal income tax purposes; and (iii) confers only a leasehold interest on Lessee in and to the Aircraft on and subject to the terms of the Lease, and no ownership or other interest with respect to the Aircraft is provided to Lessee under the Lease. Lessee shall not file a tax return that is inconsistent with the provisions of this Section 15.9(b).