Tax Agreements. The Corporation agrees, and by purchasing a beneficial ownership interest in the Notes each Holder of the Notes will be deemed to have agreed, for United States federal income tax purposes to treat the acquisition of a New PEPS Unit as the acquisition of a unit consisting of a Purchase Contract and a beneficial ownership interest in a Note issued by the Corporation and to treat the Notes as indebtedness.
Appears in 4 contracts
Samples: Pp&l Capital Funding Inc, Pp&l Capital Funding Inc, PPL Electric Utilities Corp