Common use of would be owed Clause in Contracts

would be owed. The Owner Participant further agrees to the extent a change in Texas law eliminates the ability to reduce Texas franchise taxes through a limited partnership structure, the Owner Participant shall take such reasonable steps to mitigate the Texas franchise taxes as the result of the change in law, so long as the Owner Participant determines in its sole discretion that such steps will not have a material adverse effect on the Owner Participant or any of its Affiliates. The Lessee shall reimburse the Owner Participant for (x) the costs of any actions taken pursuant to, or to accomplish the intention of, this Section 7.1(m), including any taxes attributable to such actions, and (y) any and all Texas taxes that relate directly or indirectly to the transactions contemplated by the Operative Agreements, Pass Through Documents or Partnership Documents, in each case on an After-Tax Basis and without regard to the exclusions in Section 7.1(c) hereof, provided, however that for the avoidance of doubt, nothwithstanding any provision herein, the Lessee shall not be required to indemnify the Owner Participant or any of its Affiliates for any such taxes that would have been imposed on the Owner Participant or any of its Affiliates without regard to the transactions contemplated by the Operative Agreements, Pass Through Documents or Partnership Documents. Notwithstanding any other provision hereto or under any other Operative Agreement, the other parties to this Agreement hereby agree and consent to the Owner Participant taking the actions specified in the first and second sentences of this Section 7.1(m).