Additional Covenants of Buyer. Notwithstanding any other provision hereof, Buyer covenants and agrees that, after the Closing Date, Buyer will not make any modifications to the Purchased Assets or take any action which would result in a loss of the exclusion of interest on the pollution control bonds issued on behalf of Penelec or NYSEG in connection with the Purchased Assets from gross income for federal income purposes under Section 103 of the Code. Buyer further covenants and agrees that, in the event that Buyer transfers any of the Purchased Assets, Buyer shall obtain from its transferee a covenant and agreement that is analogous to Buyer's covenant and agreement pursuant to the immediately preceding sentence, as well as a covenant and agreement that is analogous to that of this sentence. This covenant shall survive Closing and shall continue in effect so long as the pollution control bonds remain outstanding.
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Sources: Asset Purchase Agreement (Energy East Corp), Asset Purchase Agreement (Pennsylvania Electric Co)
Additional Covenants of Buyer. Notwithstanding any other -------------------------------- provision hereof, Buyer covenants and agrees that, after the Closing Date, Buyer will not make any modifications to the Purchased Assets or take any action which would result in a loss of the exclusion of interest on the pollution control bonds issued on behalf of Penelec or NYSEG in connection with the Purchased Assets from gross income for federal income purposes under Section 103 of the Code. Buyer further covenants and agrees that, in the event that Buyer transfers any of the Purchased Assets, Buyer shall obtain from its transferee a covenant and agreement that is analogous to Buyer's covenant and agreement pursuant to the immediately preceding sentence, as well as a covenant and agreement that is analogous to that of this sentence. This covenant shall survive Closing and shall continue in effect so long as the pollution control bonds remain outstanding.
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