Common use of Preservation of Tax-Exempt Financing Clause in Contracts

Preservation of Tax-Exempt Financing. Notwithstanding any other provision of this Attachment M, neither the ISO nor the Transmission Owners shall be required to grant, or allow the use of, transmission rights that would jeopardize the tax-exempt status of any Local Furnishing Bond(s), Government Bonds, LIPA Tax-Exempt Bonds or any other tax-exempt debt obligations, or impair the ability of a Transmission Owner to issue future tax-exempt obligations. Transmission Owners advising the ISO that the granting or use of transmission rights would jeopardize the tax-exempt status of any Local Furnishing Bond(s), Government Bonds, LIPA Tax-Exempt Bonds or any other tax-exempt debt obligations, or impair the ability of a Transmission Owner to issue future tax-exempt obligations, shall advise the ISO of the duration of transmission rights that are unavailable pursuant to this section 19.1.1. and shall indicate whether transmission rights with a duration of one month are available or not available pursuant to this section 19.1.1.

Preservation of Tax-Exempt Financing. Notwithstanding any other provision of this Attachment M, neither the ISO nor the Transmission Owners shall be required to grant, or allow the use of, transmission rights that would jeopardize the tax-exempt status of any Local Furnishing Bond(s), Government Bonds, LIPA Tax-Exempt Bonds or any other tax-exempt debt obligations, or impair the ability of a Transmission Owner to issue future tax-exempt obligations. Transmission Owners advising the ISO that the granting or use of transmission rights would jeopardize the tax-exempt status of any Local Furnishing Bond(s), Government Bonds, LIPA Tax-Exempt Bonds or any other tax-tax- exempt debt obligations, or impair the ability of a Transmission Owner to issue future tax-tax- exempt obligations, shall advise the ISO of the duration of transmission rights that are unavailable pursuant to this section 19.1.1. and shall indicate whether transmission rights with a duration of one month are available or not available pursuant to this section 19.1.1.