Tax Savings. If EME indemnifies the Owner Participant for a Tax Loss under clause (iii) of Section 6.7 and the Owner Participant realizes (or would have realized had it had sufficient taxable income and tax liability) during any taxable year a reduction in U.S. federal or state income taxes (including any offset or refund of income taxes and interest thereon) that is attributable to, and would not have occurred but for:
Appears in 4 contracts
Samples: Tax Indemnity Agreement (Midwest Generation LLC), Tax Indemnity Agreement (Midwest Generation LLC), Tax Indemnity Agreement (Midwest Generation LLC)