Exemption from Taxes. In the case of any payment hereunder or under any other Credit Document by or on behalf of the Borrower through an account or branch outside the United States, or on behalf of the Borrower by a payor that is not a United States person, if the Borrower determines that no taxes are payable in respect thereof, the Borrower shall furnish, or shall cause such payor to furnish, to the Administrative Agent, an opinion of counsel reasonably acceptable to the Administrative Agent stating that such payment is exempt from Taxes. For purposes of this subsection (e), the terms “United States” and “United States person” shall have the meanings specified in Section 7701 of the Code.
Appears in 8 contracts
Samples: Lease (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc), Term Loan Credit Agreement (Texas New Mexico Power Co)
Exemption from Taxes. In the case of any payment hereunder or under any other Credit Document by or on behalf of the Borrower through an account or branch outside the United States, or on behalf of the Borrower by a payor that is not a United States person, if the Borrower determines that no taxes are payable in respect thereof, the Borrower shall furnish, or shall cause such payor to furnish, to the Administrative Agent, an opinion of counsel reasonably acceptable to the Administrative Agent stating that such payment is exempt from Taxes. For purposes of this subsection (e), the terms “"United States” " and “"United States person” " shall have the meanings specified in Section 7701 of the Code.
Appears in 4 contracts
Samples: Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources)
Exemption from Taxes. In the case of any payment hereunder or under any other Credit Document by or on behalf of the a Borrower through an account or branch outside the United States, or on behalf of the a Borrower by a payor that is not a United States person, if the such Borrower determines that no taxes are payable in respect thereof, the such Borrower shall furnish, or shall cause such payor to furnish, to the Administrative Agent, an opinion of counsel reasonably acceptable to the Administrative Agent stating that such payment is exempt from Taxes. For purposes of this subsection (e), the terms “"United States” " and “"United States person” " shall have the meanings specified in Section 7701 of the Code.
Appears in 3 contracts
Samples: Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources Inc)
