TAX-EXEMPT FINANCING. 15.01 Tax-Exempt Financing Pursuant to Section 142(f) of IRC. Except for Section 15.05, this Article is applicable only to Transmission Owners that have financed facilities for the local furnishing of electricity as described in Section 142(f) of the Internal Revenue Code (“Local Furnishing Bond”). Notwithstanding any other provision of the ISO Agreement or an ISO Tariff, neither the ISO nor a Transmission Owner shall be required to provide Transmission Service or any other service to any Customer pursuant to an ISO Tariff if the provision of such Transmission Service or other service would result in the loss of tax- exempt status of any Local Furnishing Bonds used to finance the Transmission Owner’s facilities. Notwithstanding any other provision of this Agreement, no Transmission Owner shall be required to accept or consent to any request, recommendation, or decision, including, without limitation, a recommendation or a decision of an Arbitrator, or to build any facilities or to take any action, including, without limitation, the providing of Transmission Service or any other service, or to enter into any agreement if, in the sole judgment of such Transmission Owner, such request, recommendation, decision, facilities, action, Transmission Service or agreement might reasonably be expected to result in litigation related to the tax-exempt status of the Local Furnishing Bonds or any other tax-exempt debt obligation, or might reasonably be construed to adversely affect or bring into question the tax-exempt status of interest on bonds or other obligations issued by or for the benefit of such Transmission Owner, or adversely affect or bring into question the ability of such Transmission Owner to deduct interest payments or to access the benefits of tax-exempt financing in the future.
TAX-EXEMPT FINANCING. (a) Buyer understands and agrees that:
TAX-EXEMPT FINANCING. (a) Seller represents that:
TAX-EXEMPT FINANCING. (a) Buyer and CenterPoint understand and agree that:
TAX-EXEMPT FINANCING. (a) Each Acquiring Party understands and agrees that:
TAX-EXEMPT FINANCING. (a) Purchaser acknowledges and agrees that: (i) the facilities set forth on Section 5.16(a) of the Seller Disclosure Schedule (the “Exempt Facilities”) have been financed, and refinanced, in whole or in part, with the proceeds of the issuance and sale by Sweetwater County, Wyoming, of its Solid Waste Disposal Bonds (FMC Corporation Project) Series 2005 in the presently outstanding aggregate principal amount of $90 million (the “Revenue Bonds”), the interest on which, with certain exceptions, is excluded from gross income for purposes of U.S. federal income taxation under the Code and Seller is the economic obligor in respect of the Revenue Bonds; (ii) the basis for such exclusion is the use of the Exempt Facilities for the purpose of the disposal of solid waste; (iii) the use of the Exempt Facilities for a purpose other than a qualifying purpose indicated in clause (ii) above could impair (A) such exclusion from gross income of the interest on the Revenue Bonds or (B) the deductibility of Seller’s payment of interest based on the restrictions in Section 150(b) of the Code; and (iv) any breach by Purchaser of its obligations under this Section 5.16 could result in the incurrence by Seller and its Affiliates of additional costs and expenses, including increased interest costs, loss of the interest deduction for tax purposes and transaction costs relating to any refinancing redemption or defeasance of all or part of the Revenue Bonds, and Purchaser shall be liable to Seller and its Affiliates for such additional costs and expenses.
TAX-EXEMPT FINANCING. (a) Specified FE Subsidiaries understand and agree that:
TAX-EXEMPT FINANCING. 65 6.18 Removal at Shippingport Site Buildings.................. 67 6.19
TAX-EXEMPT FINANCING. 77 ARTICLE IX CONDITIONS 9.1 Conditions to Obligations of the Parties........... 79 9.2 Conditions to Obligations of DLC................... 80 9.3 Conditions to Obligations of the FE Subsidiaries... 82
TAX-EXEMPT FINANCING. Since October 31, 1997, no tax-exempt bonds have been issued or reissued of which it is a beneficiary.
