Tax Treatment of Agreement. For, inter alia, income tax purposes, the Parties shall report any transactions arising under this Agreement consistent with a purchase and sale of capacity credits, and shall not treat this Agreement as establishing a partnership between the Parties. The Parties hereby elect to be excluded from the application of all of the provisions of Subchapter K, Chapter 1, Subtitle A of the Internal Revenue Code of 1986, as amended (the “Code”) as permitted under Section 761 of the Code and Treasury Regulations Section 1.761-2(b)(2).
Appears in 4 contracts
Samples: Credit Purchase Agreement, Capacity Credit Purchase Agreement, Capacity Credit Purchase Agreement
