Common use of Substitution of the Distribution System Assets Clause in Contracts

Substitution of the Distribution System Assets. The Distribution System Assets, as constituted on the Delivery Date, are described in Exhibit A to this Installment Purchase Agreement. The City shall have the right to make any changes to the composition and description of the Distribution System Assets or of any component thereof, whenever the City deems such changes to be necessary and appropriate; provided that Exhibit A shall always describe components of the Distribution System with sufficient value to justify the 2014-A Purchase Payments. The City is required to obtain an opinion of Bond Counsel that the substitution of the new facilities for all or a portion of the Distribution System Assets shall not cause the interest on the 2014-A Bonds to be included in the gross income of the recipients thereof for federal income tax purposes.

Substitution of the Distribution System Assets. The Distribution System Assets, as constituted on the Delivery Date, are described in Exhibit A to this Installment Purchase Agreement. The City shall have the right to make any changes to the composition and description of the Distribution System Assets or of any component thereof, whenever the City deems such changes to be necessary and appropriate; provided that Exhibit A shall always describe components of the Distribution System with sufficient value to justify the 2014-A 2016 Purchase Payments. The City is required to obtain an opinion of Bond Counsel that the substitution of the new facilities for all or a portion of the Distribution System Assets shall not cause the interest on the 2014-A 2016 Bonds to be included in the gross income of the recipients thereof for federal income tax purposes.

Substitution of the Distribution System Assets. The Distribution System Assets, as constituted on the Delivery Date, are described in Exhibit A to this Installment Purchase Agreement. The City shall have the right to make any changes to the composition and description of the Distribution System Assets or of any component thereof, whenever the City deems such changes to be necessary and appropriate; provided that Exhibit A shall always describe components of the Distribution System with sufficient value to justify the 20142015-A Purchase Payments. The City is required to obtain an opinion of Bond Counsel that the substitution of the new facilities for all or a portion of the Distribution System Assets shall not cause the interest on the 20142015-A Bonds to be included in the gross income of the recipients thereof for federal income tax purposes.

Substitution of the Distribution System Assets. The Distribution System Assets, as constituted on the Delivery Date, are described in Exhibit A to this Installment Purchase Agreement. The City shall have the right to make any changes to the composition and description of the Distribution System Assets or of any component thereof, whenever the City deems such changes to be necessary and appropriate; provided that Exhibit A shall always describe components of the Distribution System with sufficient value to justify the 2014-A 2020 Purchase Payments. The City is required to obtain an opinion of Bond Counsel that the substitution of the new facilities for all or a portion of the Distribution System Assets shall not cause the interest on the 2014-A 2020 Bonds to be included in the gross income of the recipients thereof for federal income tax purposes.

Substitution of the Distribution System Assets. The Distribution System Assets, as constituted on the Delivery Date, are described in Exhibit A to this Installment Purchase Agreement. The City shall have the right to make any changes to the composition and description of the Distribution System Assets or of any component thereof, whenever the City deems such changes to be necessary and appropriate; provided that Exhibit A shall always describe components of the Distribution System with sufficient value to justify the 20142009-A Purchase Payments. The City is required to obtain an opinion of Bond Counsel that the substitution of the new facilities for all or a portion of the Distribution System Assets shall not cause the interest on the 20142009-A Bonds to be included in the gross income of the recipients thereof for federal income tax purposes.