Consents and Legal Opinions. The parties shall use their respective commercially reasonable efforts to obtain all Consents and legal opinions as may be required under the IDRB Documents to enable Seller to retain all IDRB Indebtedness and to sell the Assets to Buyer without the result that the interest on the Bonds will be included in the gross income of the recipient for purposes of federal income taxation.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Citizens Utilities Co), Purchase and Sale Agreement (Cap Rock Energy Corp)
Consents and Legal Opinions. The parties shall use their respective commercially reasonable efforts to obtain all Consents and legal opinions as may be required under the IDRB Documents to enable Seller to retain all until maturity the IDRB Indebtedness and to sell the Assets to Buyer without the result that the interest on the Bonds will be included in the gross income of the recipient for purposes of federal income taxation.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Citizens Communications Co)
Consents and Legal Opinions. The parties shall use their respective commercially reasonable efforts to obtain all Consents and legal opinions as may be required under the IDRB Documents relating to the Retained IDRB Indebtedness to enable Seller to retain all Retained IDRB Indebtedness and to sell the Assets to Buyer without the result that the interest on the Bonds relating to the Retained IDRB Indebtedness will be included in the gross income of the recipient for purposes of federal income taxation.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Citizens Utilities Co)
