Fully Taxable. As of the Closing Date, each Person owning an Ownership Interest (i) is fully taxable at the highest federal tax rate and (ii) expects to be fully taxable at the highest federal tax rate throughout the Facility Lease Term; for the avoidance of doubt, this representation is not intended to be construed as nor shall it be deemed to be a guaranty as to any such Person's future taxation.
Appears in 4 contracts
Samples: Participation Agreement (Calpine Corp), Participation Agreement (Calpine Corp), Participation Agreement (Calpine Corp)