Common use of U.S. Tax Treatment Clause in Contracts

U.S. Tax Treatment. The Trust, the Issuer Trustee, the Indenture Trustee, the NIP Agent and each holder of the Class A Notes acknowledge and agree that it is their mutual intent that the Class A Notes constitute and be treated as indebtedness for United States federal and all applicable state and local income and franchise tax purposes. Further, each party hereto, and each holder of the Class A Notes by accepting and holding a Class A Note (other than a holder of the Class A Notes that is the Trust or a Person that is considered to be the same Person as the Trust for United States federal income tax purposes), hereby covenants to every other party hereto and to every other holder of the Class A Notes to treat the Class A Notes as indebtedness for United States federal and all applicable state and local income and franchise tax purposes in all United States tax filings, reports and returns and otherwise, and further covenants that neither it nor any of its Affiliates will take, or participate in the taking of or permit to be taken, any action that is inconsistent with such tax treatment and tax reporting of the Class A Notes, unless required by applicable law. All successors and assignees of the parties hereto shall be bound by the provisions hereof.

U.S. Tax Treatment. The Trust, the Issuer Trustee, the Indenture Trustee, the NIP Agent and each holder of the Class A Series 2024-1 Notes acknowledge and agree that it is their mutual intent that the Class A Series 2024-1 Notes constitute and be treated as indebtedness for United States federal and all applicable state and local income and franchise tax purposes. Further, each party hereto, and each holder of the Class A Series 2024-1 Notes by accepting and holding a Class A Series 2024-1 Note (other than a holder of the Class A Series 2024-1 Notes that is the Trust or a Person that is considered to be the same Person as the Trust for United States federal income tax purposes), hereby covenants to every other party hereto and to every other holder of the Class A Series 2024-1 Notes to treat the Class A Series 2024-1 Notes as indebtedness for United States federal and all applicable state and local income and franchise tax purposes in all United States tax filings, reports and returns and otherwise, and further covenants that neither it nor any of its Affiliates will take, or participate in the taking of or permit to be taken, any action that is inconsistent with such tax treatment and tax reporting of the Class A Series 2024-1 Notes, unless required by applicable law. All successors and assignees of the parties hereto shall be bound by the provisions hereof.

U.S. Tax Treatment. ‌ The Trust, the Issuer Trustee, the Indenture Trustee, the NIP Agent and each holder of the Class A Series 2023-2 Notes acknowledge and agree that it is their mutual intent that the Class A Series 2023-2 Notes constitute and be treated as indebtedness for United States federal and all applicable state and local income and franchise tax purposes. Further, each party hereto, and each holder of the Class A Series 2023-2 Notes by accepting and holding a Class A Series 2023-2 Note (other than a holder of the Class A Series 2023-2 Notes that is the Trust or a Person that is considered to be the same Person as the Trust for United States federal income tax purposes), hereby covenants to every other party hereto and to every other holder of the Class A Series 2023-2 Notes to treat the Class A Series 2023-2 Notes as indebtedness for United States federal and all applicable state and local income and franchise tax purposes in all United States tax filings, reports and returns and otherwise, and further covenants that neither it nor any of its Affiliates will take, or participate in the taking of or permit to be taken, any action that is inconsistent with such tax treatment and tax reporting of the Class A Series 2023-2 Notes, unless required by applicable law. All successors and assignees of the parties hereto shall be bound by the provisions hereof.