Subsequent Taxable Events. If, within 10 years from the date on which the relevant NYSEG System Upgrade Facilities are placed in service, (i) TrAILCo Breaches the covenants contained in Article 5.12.2, or (ii) this Agreement terminates and NYSEG retains ownership of the NYSEG System Upgrade Facilities, TrAILCo shall pay a tax gross‐up for the cost consequences of any current tax liability imposed on NYSEG, calculated using the methodology described in Article 5.12.4 and in accordance with IRS Notice 90‐60.
Appears in 8 contracts
Samples: Transmission Facility Interconnection Agreement, Service Agreement, Transmission Facility Interconnection Agreement
Subsequent Taxable Events. If, within 10 years from the date on which the relevant NYSEG System Upgrade Facilities are placed in service, (i) TrAILCo Breaches the covenants contained in Article 5.12.2, or (ii) this Agreement terminates and NYSEG retains ownership of the NYSEG System Upgrade Facilities, TrAILCo shall pay a tax gross‐up for the cost consequences of any current tax liability imposed on NYSEG, calculated using the methodology described in Article 5.12.4 and in accordance with IRS Notice 90‐60.or
Appears in 2 contracts
Samples: Service Agreement, Transmission Facility Interconnection Agreement
Subsequent Taxable Events. If, within 10 years from the date on which the relevant NYSEG System Upgrade Facilities are placed in service, (i) TrAILCo Breaches the covenants contained in Article 5.12.2, or (ii) this Agreement terminates and NYSEG retains ownership of the NYSEG System Upgrade Facilities, TrAILCo shall pay a tax gross‐up for the cost consequences of any current tax liability imposed on NYSEG, calculated using the methodology described in Article 5.12.4 and in accordance with IRS Notice 90‐60.. SERVICE AGREEMENT NO. 2257
Appears in 2 contracts
Samples: Service Agreement, Service Agreement
Subsequent Taxable Events. If, within 10 years from the date on which the relevant NYSEG System Upgrade Facilities are placed in service, (i) TrAILCo Breaches the covenants contained in Article 5.12.2, or (ii) this Agreement terminates and NYSEG retains ownership of the NYSEG System Upgrade Facilities, TrAILCo shall pay a tax gross‐up for the cost consequences of any current tax liability SERVICE AGREEMENT NO. 2232 imposed on NYSEG, calculated using the methodology described in Article 5.12.4 and in accordance with IRS Notice 90‐60.
Appears in 1 contract
Samples: Service Agreement
