Examples of True Lease in a sentence

Each entity with respect to which an assumption shall be made in any Additional True Lease Opinion will have complied and will comply with all of the assumptions made with respect to it in any Additional True Lease Opinion.
Each SPE Party will have complied and will comply with all of the assumptions made with respect to such SPE Parties in any Additional True Lease Opinion.
In connection with a material modification, Lender may request, and in such event, Borrower shall not effect such modification without, an Additional True Lease Opinion in form and substance reasonably satisfactory to Lender issued by Borrower’s counsel (at Borrower’s expense).
Each SPE Party has complied and will comply with, and Borrower shall cause Operating Company to comply with, all of the assumptions made with respect to such SPE Parties and Operating Company in the True Lease Opinion.
It is understood and agreed, however, that no filings will be made to perfect any security interest of the Issuer or the Indenture Trustee in the Seller's interests in True Lease Equipment.

More Definitions of True Lease

True Lease. This Facility Lease shall constitute an agreement of lease and nothing herein shall, prior to termination of this Facility Lease with respect to any Unit, affect the Owner Lessor's status as owner of the Facility or be construed as conveying to the Facility Lessee any right, title or interest in or to the Facility except as lessee only.

True Lease. A lease that, under the Internal Revenue Code, entitles the lessor to the tax benefits of ownership, such as depreciation benefits and any tax credits, and entitles the customer to claim rental payments as deductible expenses.

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 means a Lease that is properly characterized as a ---------- true lease within the meaning of Section 1-201(37) of the UCC.

True Lease. It is intended that this transaction qualify as a "true lease" for tax purposes; the Rent set forth assumes availability to Lessor of depreciation deductions provided in the Internal Revenue Code for five year (hardware); seven year (furniture) and three year (software) property; Depreciation deductions may be modified for leased equipment located in Canada. Net Lease: The lease will be a net financial lease, and all fixed expenses associated with the possession, operation, and control of the Equipment, including (but not limited to) insurance, maintenance, and taxes, will be for the account of the Lessee; The Lessor will be the legal owner of the Equipment.

True Lease means any Assigned Lease treated as a "lease" for purposes of UCC Article 2A and not as a "lease intended for security" within the meaning of UCC Section 1-201(37), as in effect in the State of California.

True Lease. This Facility Lease shall constitute an agreement of lease and nothing herein shall be construed as conveying to the Facility Lessee any right, title or interest in or to the Undivided Interest except as lessee only. The parties hereto hereby agree that the Lessee's obligation to make Excepted Payments is a separate and independent obligation from its obligation to make other Rent payments, and that the Lessee's obligation to make Excepted Payments may be assigned, pledged or otherwise transferred separately from the Lessee's obligations to make other Rent payments. The obligation to make Excepted Payments has been included herein for the convenience of the parties.