Common use of Subsequent Taxable Events Clause in Contracts

Subsequent Taxable Events. If, within 10 years from the date on which the relevant Network Upgrade Facilities are placed in service, (i) Transmission Developer Breaches the covenants contained in Article 5.12.2, (ii) a “disqualification event” occurs within the meaning of IRS Notice 2016-36, or (iii) this Agreement terminates and Connecting Transmission Owner retains ownership of the Network Upgrade Facilities, the Transmission Developer shall pay a tax gross-up for the cost consequences of any current tax liability imposed on Connecting Transmission Owner, calculated using the methodology described in Article 5.12.4 and in accordance with IRS Notice 2016-36.

Subsequent Taxable Events. If, within 10 years from the date on which the relevant Network Upgrade Facilities are placed in service, (i) Transmission Developer Breaches the covenants contained in Article 5.12.2, (ii) a “disqualification event” occurs within the meaning of IRS Notice 201688-36129, or (iii) this Agreement terminates and Connecting Transmission Owner retains ownership of the Network Upgrade Facilities, the Transmission Developer shall pay a tax gross-up for the cost consequences of any current tax liability imposed on Connecting Transmission Owner, calculated using the methodology described in Article 5.12.4 and in accordance with IRS Notice 201690-3660.

Subsequent Taxable Events. If, within 10 years from the date on which the relevant Network Upgrade Facilities are placed in service, (i) Transmission Developer Breaches the covenants contained in Article 5.12.2, (ii) a “"disqualification event” " occurs within the meaning of IRS Notice 201688-36129, or (iii) this Agreement terminates and Connecting Transmission Owner retains ownership of the Network Upgrade Facilities, the Transmission Developer shall pay a tax gross-up for the cost consequences of any current tax liability imposed on Connecting Transmission Owner, SERVICE AGREEMENT NO. 2599 calculated using the methodology described in Article 5.12.4 and in accordance with IRS Notice 201690-3660.

Subsequent Taxable Events. If, within 10 years from the date on which the relevant Network Upgrade Facilities are placed in service, (i) Transmission Developer Breaches the covenants contained in Article 5.12.2, (ii) a “disqualification event” occurs within the meaning of IRS Notice 201688-36129, or (iii) this Agreement terminates and Connecting Transmission Owner retains ownership of the Network Upgrade Facilities, the Transmission Developer shall pay a tax gross-up for the cost consequences of any current tax liability imposed on Connecting Transmission Owner, SERVICE AGREEMENT NO. 2605 calculated using the methodology described in Article 5.12.4 and in accordance with IRS Notice 201690-3660.