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Optical frequency combs (OFCs) generated by an InP-based semiconductor Mach-Zehnder modulator (MZM) are numerically investigated. Nonlinear phase modulation induced by drive voltages applied to the MZM prove to be useful in obtaining a flat OFC. The experimentally measured intensity deviations of OFCs reported previously are quantitatively reproduced using a numerical model considering nonlinear change of refractive index and optical absorption induced by the drive voltages applied to the MZM. It is found that such nonlinearities generate a flat nine-channel (9-ch) OFC with an intensity deviation of <;1 dB when a moderate RF drive voltage of <;5 V is used. This flat 9-ch OFC is sustained regardless of the ratio of RF drive voltages of two arms in the MZM. Conversion efficiency is reasonably high (27%), but it is decreased by optical absorption and extinction losses in the MZM.