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EXHIBIT 10.6
AMENDED AND RESTATED
TAX" ALLOCATION AGREEMENT
SUPPLEMENT NO. I
This Supplement, dated as of the 31st day of August, 1999, is by and among MBIA
Inc., a Connecticut stock insurance company ("P"), MBIA Insurance Corporation
("Corp."), a New York corporation, and a subsidiary of Corp., MBIA Insurance
Corp, of Illinois ("MBIA Illinois"), an Illinois corporation.
WITNESSETH:
WHEREAS, P and Corp. originally entered into a Tax Allocation Agreement (the
"Agreement") dated as of January 1, 1987, subsequently amended and restated as
of January 1, 1990, attached hereto as Exhibit A; and
WHEREAS, the fourth WHEREAS clause in the Agreement extends the Agreement to
Corp.'s present and future subsidiaries; and
WHEREAS, MBIA Illinois is a wholly-owned subsidiary of Corp.; and
WHEREAS, MBIA Illinois is required to be in compliance with all applicable
Illinois laws and regulations and therefore must add certain provisions to the
Agreement;
NOW, THEREFORE, IT IS AGREED AS FOLLOWS:
1. Pursuant to 50 Ill. Adm. Code 942, and only with respect to MBIA Illinois:
Settlements will be no later than thirty (30) days after the filing of the
return, unless a refund is due from a taxing authority, in which case the
settlement may be thirty (30) days after receipt of the refund from the taxing
authority.
2. Pursuant to 50 Ill. Adm. Code 942. and only with respect to MBIA Illinois:
All settlements must be in the form of cash or securities eligible for
investment under the Illinois Insurance Code.
IN WITNESS WHEREOF, the parties have caused this Supplement to be executed by
their duly authorized officers, effective as of August 31st 1999.
MBIA INC.
By: Xxxx X. Xxxxxx President
MBIA INSURANCE CORPORATION
By: Xxxx x. Xxxxxx, President
MBIA INSURANCE CORP. OF ILLINOIS
By: Xxxxxxx X. Xxxxx, President
