Common use of Tax-Exempt Financing Pursuant to Section 103 and related provisions of Internal Revenue Code Clause in Contracts

Tax-Exempt Financing Pursuant to Section 103 and related provisions of Internal Revenue Code. This provision is applicable only to NYPA which has financed transmission facilities with the proceeds of bonds issued pursuant to Section 103 and related provisions of the Internal Revenue Code (“Government Bonds”). Notwithstanding any other provision of the ISO OATT Tariff, neither the ISO nor NYPA shall be required to provide Transmission Service to any Market Participant pursuant to the ISO OATT if the provision of such Transmission Service would result in the loss of the tax-exempt status of any Government Bonds or impair NYPA’s ability to issue future tax-exempt obligations.

Tax-Exempt Financing Pursuant to Section 103 and related provisions of Internal Revenue Code. ‌‌ This provision is applicable only to NYPA which has financed transmission facilities with the proceeds of bonds issued pursuant to Section 103 and related provisions of the Internal Revenue Code (“Government Bonds”). Notwithstanding any other provision of the ISO OATT Tariff, neither the ISO nor NYPA shall be required to provide Transmission Service to any Market Participant pursuant to the ISO OATT if the provision of such Transmission Service would result in the loss of the tax-exempt status of any Government Bonds or impair NYPA’s ability to issue future tax-exempt obligations.