Common use of CONDITION TO CONVERSION; ADDITIONAL NOTICES Clause in Contracts

CONDITION TO CONVERSION; ADDITIONAL NOTICES. (a) As a condition to the giving of notice as provided in SECTION 4.01 above, the Company shall provide the Trustee with an opinion of Bond Counsel to the effect that the proposed conversion of the interest rate on the Bonds will not adversely affect the exclusion of the interest on the Bonds from gross income for federal income tax purposes. (b) The delivery by the Company to the Trustee of a letter from Bond Counsel confirming the opinion required prior to the notification described above on such Conversion Date is a condition precedent to any such Conversion. In the event that the Company fails to deliver to the Trustee the letter of Bond Counsel referred to in the preceding sentence, such Conversion shall not take effect, and the Bonds shall continue to bear interest calculated by the method applicable prior to the proposed Conversion Date. (c) The Trustee shall provide the Tender Agent with a copy of any notice delivered to the Owners of the Bonds pursuant to SECTION 4.01 OR 4.02 hereof.