CERTAIN EXPECTATIONS Sample Clauses
CERTAIN EXPECTATIONS. For purposes of this Policy, the Company considers that the exercise of a stock option for cash under the Company's stock option plans or the purchase of shares under the Company's employee stock purchase plan (but not the sale of any such shares) is exempt from this Policy, since the other party to the transaction is the Company itself and the price does not vary with the market but is fixed by the terms of the option agreement or the plan. Further, the Company does not believe that employees, officers or directors should ordinarily be prohibited from making bonafide gifts and charitable donations outside the Trading Window in situations where there is no unusual activity or other reason to believe that a transaction would be particularly risky.
CERTAIN EXPECTATIONS. The Issuer and the Concessionaire make the following representations and statements of fact and expectation on the basis of which it is not expected that the Proceeds of the Series 2014 Bonds have been or will be used in a manner that will cause the Series 2014 Bonds to be “arbitrage bonds” within the meaning of Section 148 of the Code:
CERTAIN EXPECTATIONS. The Seller reasonably expects that each Project owned by a Purchased Company will be able to be placed in service, and will be placed in service, by June 30, 1998, and will be able to be operated as contemplated in the Base Case and consistent with (but without limitation of) that expectation, the Seller reasonably believes that:
(a) there are no material physical, contractual or legal impediments to any Project meeting the requirements set forth in Section 3.1(g)(i) of the Partnership Agreement by June 30, 1998, and the operation of any Project as contemplated in the Base Case
(b) each Purchased Company has, or will have by June 30, 1998, full right and entitlement to possess, use and conduct operations on the properties on which its respective Project is located;
(c) all necessary or advisable rights of easement, access, ingress and egress, and transportation arrangements to and from the Project sites will be able to be obtained without undue delay or cost, and in order to permit each Project to be constructed substantially in accordance with the requirements set forth in Section 3.1(g) of the Partnership Agreement and to be operated substantially in accordance with the Base Case;
(d) there will be available to each Purchased Company sufficient feedstock to produce Qualified Fuels in the quantities and with the quality contemplated in the Base Case;
(e) the production and sale of Qualified Fuels by each Project, and the Tax Credits resulting therefrom, will be substantially consistent with the Base Case;
(f) Carbontec will assist in providing sufficient binder and technical support such that the Purchased Companies will be able to produce Qualified Fuels substantially in accordance with the Base Case and in compliance with the rulings received in response to the IRS Ruling Request and the requirements of the marketplace for synthetic coal-based fuels;
(g) the Carbontite™ technology as used in each Project is able to produce Qualified Fuels in compliance with the rulings requested in the IRS Ruling Request and the requirements of the marketplace for synthetic coal-based fuels; and
(h) the rulings requested in the IRS Ruling Request will be received.