Common use of Intermediate Sanctions Clause in Contracts

Intermediate Sanctions. No PSI Company or Business of any PSI Company and, to the knowledge of the PSI Companies after due and reasonable inquiry, no other Regulated Company or Business of any other Regulated Company has (i) engaged in any transaction with any entity that is tax-exempt under Section 501(c)(3) or (4) of the Code that has resulted in the imposition on such Regulated Company or Business of any tax under Section 4958 of the Code or (ii) engaged in an "excess benefit transaction" (as defined in such Section 4958 of the Code) with any such tax-exempt entity.