Common use of Acknowledgement of Parties Clause in Contracts

Acknowledgement of Parties. The parties hereto acknowledge and agree that, for all tax purposes, financial accounting and other purposes (a) the Notes will constitute indebtedness and not an ownership interest in the Issuer and (b) the Excess Distribution Certificateholder will be treated as owning all of the assets, and as assuming all of the liabilities (including the Notes), of the Issuer, and the parties hereto shall in all events take positions consistent with, and in no event take a position inconsistent with, the positions described in clauses (a) and (b) in the preparation of any returns and reports, and with respect to any audit or controversy, as to which either of the positions described in clauses (a) or (b) above would be relevant.