Investment Tax Credit. To the extent that the Lessee determines the Nuclear Material is or becomes eligible for any investment or similar credit under the Code as now or hereafter in effect, the Lessee shall request in writing that the Lessor elect to treat the Lessee as having acquired such Nuclear Material, and, if permitted to do so under the Code and under any other applicable law, rule or regulation, the Lessor, pursuant to such request of the Lessee, shall provide the Lessee with an appropriate investment credit election and the Lessee shall consent to such election. A condition to the Lessor's making such election will be the provision by the Lessee of a report or statement with respect to all Nuclear Material as to which the investment credit election is applicable. Such report or statement shall contain such information and be in such form as may be required for Internal Revenue Service reporting purposes. The Lessee shall indemnify and hold harmless the Lessor and any affiliates with respect to any adverse tax consequence, other than the loss of the credit, which may result from such election including, but not limited to, any increase in the Lessor's income taxes due to any required reduction of the Lessor's tax basis below the Lessor's cost of the Nuclear Material, and the Lessee agrees to pay to or on behalf of the Lessor, or otherwise make available to the Lessor, funds sufficient to put the Lessor in the same after-tax position (other than by reason of the loss of the investment credit) the Lessor would have been in if such election had not been made.
Investment Tax Credit. Landlord hereby grants Tenant the right and privilege of applying for and receiving all investment tax credits, if any, under the Internal Revenue Code which may be available with respect to the building and other improvements to be constructed. To this end, Landlord agrees to execute all such further documents and supply such additional information as may be required to make such election effective.
Investment Tax Credit. It is the intention of the parties that any investment tax credit or comparable credit which may ever be available accrue to the benefit of the Lessee and the Lessee shall, and the Agency upon advice of counsel may, make any election and take other action in accordance with the Code as may be necessary to entitle the Lessee to have such benefit.
Investment Tax Credit. Landlord agrees to elect, in accordance with Section 48(d) of the Code, to treat Tenant as having purchased all such eligible property in the Leased Property as may be designated by Tenant in order that Tenant may obtain the benefit of the credit, if any, allowed or allowable with respect thereto under Section 38 of the Code. Landlord makes no representation or warranty with respect to the availability of the credit to Tenant or the efficacy of such election. Landlord's sole responsibility in this regard shall be to execute such documents as are reasonably required to effect the election, which documents Tenant shall prepare, at Tenant's sole cost and expense, and to provide Tenant with such information as may be reasonably requested by Tenant in connection therewith. In addition, Landlord agrees it and its assignees will not claim the credit provided by Section 38 of the Code for any property included in the Leased Property.
Investment Tax Credit. 64 22.1 Investment Tax Credit....................................................................64
Investment Tax Credit. Landlord hereby agrees to elect under the applicable provisions of the Internal Revenue Code of 1954, as amended (here- inafter referred to as the "Code"), to pass through to Tenant all investment tax credit which may be available to the facility covered by this Lease under Section 38 of said Code which is not available to Landlord pursuant to the Code with respect to qualified property installed by Landlord on the Leased Premises. Landlord agrees to promptly execute all documents submitted by Tenant and required by said Code, and regulations issued thereunder, to enable Tenant to obtain such credit and to cooperate with Tenant with respect to the maintenance of records in connection therewith.
Investment Tax Credit. Notwithstanding any other provision hereof, the Company hereby agrees to use its reasonable best efforts to ensure that the Commitment Amount will be incurred on CEE that also qualifies as a Flow-Through Mining Expenditure.
Investment Tax Credit. It is the sole responsibility of the Customer to take any steps necessary to determine Customer’s eligibility and claim any tax credit to which Customer may be eligible for costs related to Customer’s solar panel. Customer has sole responsibility to determine Customer’s eligibility for, or claim to, any tax credit or other benefit (other than the Solar Agreement Credit described in this Agreement) which may be available to Customer as a result of ownership of the Customer Solar Property.
Investment Tax Credit. Lessee agrees to pay, and to indemnify and hold Lessor harmless from, any claim against or loss suffered by Lessor arising from a disallowance by any state or federal taxing authority of any tax credit or deductions taken by Lessor, or a change in the treatment of this Agreement caused by any misrepresentation of Lessee herein or in the Certificate of Acceptance or any other certificate or document executed by Lessee in connection with this Agreement or by any violation by Lessee of the provisions of this Agreement; however, Lessee has made no representation to Lessor with respect to any tax benefits to be received by Lessor on account of this Agreement. Lessee shall be liable to indemnify Lessor against any such loss or claim only if (i) Lessor gives Lessee notice of such proposed disallowance; (ii) Lessor permits Lessee, at its expense, to defend Lessor against such proposed disallowance in administrative and judicial proceedings (including suits for refund of taxes erroneously assessed); (iii) Lessor cooperates fully with Lessee in any such defense. In the event of a successful suit for refund of tax for which Lessee has indemnified Lessor pursuant to this Section, Lessor shall immediately pay over to Lessee in cash an amount equal to the amount of such refund, but not more than the amount paid by Lessee to Lessor by way of such indemnity.
Investment Tax Credit. Tenant shall exert its reasonable, diligent efforts to obtain the maximum permitted and allowable investment tax credits arising from Tenant’s Rehabilitation and construction work performed pursuant to the terms of the Work Agreement and, subject to the provisions and limitations of the United States Internal Revenue Code, Tenant shall retain all such investment tax credits. Tenant and Landlord shall cooperate to file such reasonable documents as may be required or necessary under the Internal Revenue Code, and the Regulations thereunder, for Tenant to obtain such investment tax credits at no risk or cost to Landlord and provided that Tenant obtaining such credits shall not constitute a condition to Tenant’s obligations hereunder, failure to obtain such credits shall not excuse or delay any obligations of Tenant hereunder and Landlord makes no representation or warranty that such credits will be available to Tenant.
