Developer Payments Not Taxable. The Developer and Affected System Operator intend that all payments or property transfers made by Developer to Affected System Operator for the installation of the Affected System Upgrade Facilities shall be non-taxable, either as contributions to capital, or as an advance, in accordance with the Internal Revenue Code and any applicable state income tax laws and shall not be taxable as contributions in aid of construction or otherwise under the Internal Revenue Code and any applicable state income tax laws.
Appears in 13 contracts
Sources: Engineering, Procurement, and Construction Agreement, Engineering, Procurement, and Construction Agreement, Engineering, Procurement, and Construction Agreement
Developer Payments Not Taxable. The Developer and Affected System Operator intend intends that all payments or property transfers made by Developer to Affected System Operator for the installation of the Affected System Upgrade Facilities shall be non-taxable, either as contributions to capital, or as an advance, in accordance with the Internal Revenue Code and any applicable state income tax laws and shall not be taxable as contributions in aid of construction or otherwise under the Internal Revenue Code and any applicable state income tax laws.
Appears in 12 contracts
Sources: Service Agreement, Engineering, Procurement, and Construction Agreement, Engineering, Procurement, and Construction Agreement
Developer Payments Not Taxable. β The Developer and Affected System Operator Transmission Owner intend that all payments or property transfers made by Developer to Affected System Operator Transmission Owner for the installation of the Affected System Upgrade Facilities shall be non-taxable, either as contributions to capital, or as an advance, in accordance with the Internal Revenue Code and any applicable state income tax laws and shall not be taxable as contributions in aid of construction or otherwise under the Internal Revenue Code and any applicable state income tax laws.
Appears in 8 contracts
Sources: Engineering, Procurement, and Construction Agreement, Engineering, Procurement, and Construction Agreement, Engineering, Procurement, and Construction Agreement
Developer Payments Not Taxable. The Developer and Affected System Operator intend that all payments or property transfers made by Developer to Affected System Operator for the installation of the Affected System Upgrade Facilities shall be non-taxable, either as contributions to capital, or as an advance, in accordance with the Internal Revenue Code and any applicable state income tax laws and shall not be taxable as contributions in aid of construction or otherwise under the Internal Revenue Code and any applicable state income tax laws.. Representations and Covenants. In accordance with IRS Notice 2001-82 and IRS Notice 88-129, Developer represents
Appears in 1 contract
Sources: Epc Agreement