Common use of Adverse Tax Action Determination Clause in Contracts

Adverse Tax Action Determination. 3.4.2.1 A Tax Exempt Participating TO shall provide to all other Parties written notice of an Adverse Tax Action Determination and a copy of the Tax Exempt Participating TO’s (or its joint action agency’s) nationally recognized bond counsel’s opinion or an IRS determination supporting such Adverse Tax Action Determination. Such written notice shall be provided promptly under the circumstances, but in no event more than 15 Business Days from the date of receipt of such documents. 3.4.2.2 The Adverse Tax Action Determination shall include (i) the actual or projected date of the Actual Adverse Tax Action and (ii) a description of the transmission lines, associated facilities, or Entitlements that were financed in whole or in part with proceeds of the Tax Exempt Debt that is the subject of such Adverse Tax Action Determination. A Tax Exempt Participating TO shall promptly notify all other Parties in writing in the event the actual or projected date of the Actual Adverse Tax Action changes. The Tax Exempt Participating TO’s determination of the actual or projected date of the Actual Adverse Tax Action shall be binding upon all Parties. 3.4.2.3 Any transmission lines, associated facilities, or Entitlements of the Tax Exempt Participating TO not identified in both the Adverse Tax Action Determination and the written notice of Withdrawal for Tax Reasons shall remain under the CAISO’s Operational Control.

Adverse Tax Action Determination. 3.4.2.1 A Tax Exempt Participating TO shall provide to all other Parties written notice of an Adverse Tax Action Determination and a copy of the Tax Exempt Participating TO’s 's (or its joint action agency’s's) nationally recognized bond counsel’s 's opinion or an IRS determination supporting such Adverse Tax Action Determination. Such written notice shall be provided promptly under the circumstances, but in no event more than 15 Business Days working days from the date of receipt of such documents. 3.4.2.2 The Adverse Tax Action Determination shall include (i) the actual or projected date of the Actual Adverse Tax Action and (ii) a description of the transmission lines, associated facilities, facilities or Entitlements that were financed in whole or in part with proceeds of the Tax Exempt Debt that is the subject of such Adverse Tax Action Determination. A Tax Exempt Participating TO shall promptly notify all other Parties in writing in the event the actual or projected date of the Actual Adverse Tax Action changes. The Tax Exempt Participating TO’s 's determination of the actual or projected date of the Actual Adverse Tax Action shall be binding upon all Parties. 3.4.2.3 Any transmission lines, associated facilities, facilities or Entitlements of the Tax Exempt Participating TO not identified in both the Adverse Tax Action Determination and the written notice of Withdrawal for Tax Reasons shall remain under the CAISO’s ISO's Operational Control.

Adverse Tax Action Determination. 3.4.2.1 A Tax Exempt Participating TO shall provide to all other Parties written notice of an Adverse Tax Action Determination and a copy of the Tax Exempt Participating TO’s 's (or its joint action agency’s's) nationally recognized bond counsel’s 's opinion or an IRS determination supporting such Adverse Tax Action Determination. Such written notice shall be provided promptly under the circumstances, but in no event more than 15 Business Days from the date of receipt of such documents. 3.4.2.2 The Adverse Tax Action Determination shall include (i) the actual or projected date of the Actual Adverse Tax Action and (ii) a description of the transmission lines, associated facilities, or Entitlements that were financed in whole or in part with proceeds of the Tax Exempt Debt that is the subject of such Adverse Tax Action Determination. A Tax Exempt Participating TO shall promptly notify all other Parties in writing in the event the actual or projected date of the Actual Adverse Tax Action changes. The Tax Exempt Participating TO’s 's determination of the actual or projected date of the Actual Adverse Tax Action shall be binding upon all Parties. 3.4.2.3 Any transmission lines, associated facilities, or Entitlements of the Tax Exempt Participating TO not identified in both the Adverse Tax Action Determination and the written notice of Withdrawal for Tax Reasons shall remain under the CAISO’s 's Operational Control.