KEY PROVISIONS IN TAX INDEMNITY AGREEMENTS

摘要

The Second Circuit's ruling that only payment of SLV in whole precludes an OP from recovery under the TIA is important to the debate between OPs and lessee-airlines because the court took a big picture view of the leveraged lease structure, and recognized the importance of recovery by the OP under TIAs as a basic part of that structure.rnIt may be indicative of how the Second Circuit might ultimately come out on the issue of whether an OP's voluntary transfer before the conclusion of a foreclosure is attributable to the exercise of remedies, and precludes recovery by the OP under the TIA.