Common use of TAX-EXEMPT FINANCING Clause in Contracts

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. 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- 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. 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 {Providers} [Owners] that have financed facilities for the local furnishing of electricity as described in Section 142(f) of the Internal Revenue Code (“Local Furnishing {Bonds} [Bond]”). Notwithstanding any other provision of the ISO Agreement or an [an] ISO Tariff, neither the ISO nor a Transmission Owner {Provider} [Owner] shall be required to provide Transmission Service [or any other service service] to any Customer pursuant to an {the} [an] ISO Tariff if the provision of such Transmission Service [or other service service] would result in the loss of tax- tax-exempt status of any Local Furnishing Bonds used to finance the Transmission {Provider’s} [Owner’s ’s] facilities. Notwithstanding any other provision of this Agreement, no Transmission Owner {Provider} [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 {Provider} [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 {Provider} [Owner], or adversely affect or bring into question the ability of such Transmission Owner {Provider} [Owner] to deduct interest payments or to access the benefits of tax-exempt financing in the future.