Common use of Developer Payments Not Taxable Clause in Contracts

Developer Payments Not Taxable. The Affected System Operator intends that all payments or property transfers made by Developer 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.

Developer Payments Not Taxable. The Developer and Affected System Operator intends 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

Developer Payments Not Taxable. The Developer and Affected System Operator intends 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.