Common use of If Western Clause in Contracts

If Western. Westar or any of their respective post-Separation Affiliates makes a payment pursuant to Section 5.01 or 5.02 of this Agreement, then (i) to the extent not already taken into account pursuant to the terms of this Agreement, such payment shall be reduced as provided in Section 5(f) of the Tax Disaffiliation Agreement if such payment gives rise to any Tax Asset (as such term is defined in the Tax Disaffiliation Agreement), and (ii) such Person shall also pay the recipient of such payment the related After-Tax Amount (as defined in the Tax Disaffiliation Agreement). This Section 9.08(b) shall be interpreted in accordance with the principles set forth in the Tax Disaffiliation Agreement and shall be subject to the dispute resolution provisions contained in Section 15 of the Tax Disaffiliation Agreement.

Appears in 3 contracts

Sources: Asset Allocation and Separation Agreement (Public Service Co of New Mexico), Asset Allocation and Separation Agreement (Western Resources Inc /Ks), Asset Allocation and Separation Agreement (Westar Industries Inc)