Municipal Tax Exempt TOs Sample Clauses

Municipal Tax Exempt TOs. In the event a Municipal Tax Exempt TO executes this Agreement in reliance upon this Section 2.3, it shall provide written notice thereof to the CAISO. Notwithstanding any other provision to the contrary herein, except for this Section 2.3, no other provisions of this Agreement shall become effective with respect to a Municipal Tax Exempt TO until such Municipal Tax Exempt TO’s nationally recognized bond counsel renders an opinion, generally of the type regarded as unqualified in the bond market, that participation in the CAISO Controlled Grid in accordance with this Agreement will not adversely affect the tax-exempt status of any Municipal Tax Exempt Debt issued by, or for the benefit of, the Municipal Tax Exempt TO. A Municipal Tax Exempt TO shall promptly seek, in good faith, to obtain such unqualified opinion from its bond counsel at the earliest opportunity. Upon receipt of such unqualified opinion, a Municipal Tax Exempt TO shall provide a copy of the opinion to the CAISO and all other provisions of this Agreement shall become effective with respect to such Municipal Tax Exempt TO as of the date thereof. If the Municipal Tax Exempt TO is unable to provide to the CAISO such unqualified opinion within one year of the execution of this Agreement by the Municipal Tax Exempt TO, without further act, deed, or notice this Agreement shall be deemed to be void ab initio with respect to such Municipal Tax Exempt TO.
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Related to Municipal Tax Exempt TOs

  • Tax-Exempt Status H-GAC and Customer members are either units of government or qualified non-profit agencies, and are generally exempt from Federal and State sales, excise or use taxes. Respondent must not include taxes in its Response. It is the responsibility of Contractor to determine the applicability of any taxes to an order and act accordingly. Exemption certificates will be provided upon request.

  • Foreign Tax Compliance Except as otherwise disclosed in the Disclosure Package and the Prospectus, no transaction, stamp, capital or other issuance, registration, transaction, transfer or withholding taxes or duties are payable in China, Hong Kong or Cayman Islands to any PRC, Hong Kong or Cayman Islands taxing authority in connection with the issuance, sale and delivery of the Offered Securities, and the delivery of the Offered Securities to or for the account of the Underwriters.

  • Informational Tax Reporting The Assuming Institution agrees to perform all obligations of the Failed Bank with respect to Federal and State income tax informational reporting related to (i) the Assets and the Liabilities Assumed, (ii) deposit accounts that were closed and loans that were paid off or collateral obtained with respect thereto prior to Bank Closing, (iii) miscellaneous payments made to vendors of the Failed Bank, and (iv) any other asset or liability of the Failed Bank, including, without limitation, loans not purchased and Deposits not assumed by the Assuming Institution, as may be required by the Receiver.

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