Exempt Facilities Clause Samples
The Exempt Facilities clause defines which facilities or types of infrastructure are not subject to certain regulatory requirements or contractual obligations. Typically, this clause lists specific facilities—such as those used for emergency services, public utilities, or government operations—that are excluded from compliance with particular rules or restrictions outlined elsewhere in the agreement. By clearly identifying these exemptions, the clause ensures that essential or specially designated facilities can operate without unnecessary hindrance, thereby maintaining critical services and clarifying the scope of the agreement.
Exempt Facilities. In order to assure that interest on the Bonds shall be exempt from federal income taxation, the Lessee covenants and agrees that it shall not, and it shall not permit or allow any other person to, construct, acquire, use, employ, modify, rebuild or repair the Project or any Special Facilities in any manner that would cause or allow it or them to be or become facilities which are not included within those set forth and described in Sections 142(a)(1) and (c) of the Internal Revenue Code of 1986, as amended, and the regulations prescribed thereunder, and the City covenants and agrees that it will not permit or allow any of the foregoing to occur. The Lessee hereby makes an irrevocable election, which it shall cause to be binding on all successors in interest under this Agreement, not to claim for federal income tax purposes depreciation or investment credit with respect to the Special Facilities or any component thereof. It is further agreed and acknowledged by Lessee that the City shall never be required or requested hereunder to issue any Bonds or expend any proceeds thereof to pay any Costs of the Special Facilities that would have the effect of causing interest on any of the Bonds not to be exempt from federal income taxation.
Exempt Facilities. (a) With respect to those facilities of Potlatch or Clearwater (the “Exempt Facilities”) that were financed or refinanced through the issuance of bonds (the “Bonds”), the interest on which is excluded from gross income of the holder under section 103(a) of the Code or any predecessor provisions, Clearwater hereby represents, certifies and covenants that there will be no action, or failure to act, by Clearwater that would adversely effect the exclusion from gross income of interest on the Bonds for U.S. federal income Tax purposes.
(b) Without limiting Section 6.8(a), Clearwater certifies, represents, and covenants that so long as any Bonds remain outstanding:
(i) the Exempt Facilities will continue to be used for the collection, storage, treatment, utilization, processing, or final disposal of material of a type that, on the date of issuance of the Bonds financing the Exempt Facilities, was useless, unused, unwanted or discarded solid material which had no market value at the place where it was located;
(ii) at least 65%, by weight or volume, of the materials utilized or processed at the Exempt Facilities will be of a type which on the date of issuance of the Bonds financing the Exempt Facilities was useless, unused, unwanted, or discarded solid material which had no market or other value at the place where it is located; and
(iii) Clearwater will maintain adequate records documenting its compliance with this Section 6.8 and will annually provide to Potlatch a written certification of its continued compliance.
Exempt Facilities. The following facilities are as further described in the Series 1994 A Tax Regulatory Agreement between the Authority and the Corporation dated the date of the initial delivery of the Series 1994 A Bonds. All terms used in this Exhibit A and not otherwise defined are used as defined in the above-referenced Third Supplemental Participation Agreement. The Series 1994 A Project Exempt Facilities will consist of the following facilities which have been or are to be acquired, constructed and installed within the City of New York and the County of Westchester, New York by the Corporation as part of the Corporation’s gas distribution system:
Exempt Facilities. 42 Section 12.03: Notices. . . . . . . . . . . . . . . . . . . . 42 Section 12.04: Consents and Approvals . . . . . . . . . . . . 44 Section 12.05: Rights Reserved to City. . . . . . . . . . . . 45 Section 12.06: Force Majeure. . . . . . . . . . . . . . . . . 45 Section 12.07: Severability Clause. . . . . . . . . . . . . . 45 Section 12.08: Place of Performance; Laws Governing . . . . . 45 Section 12.09: Brokerage. . . . . . . . . . . . . . . . .
Exempt Facilities. [A copy of Exhibit A to the Participation Agreement entered into in connection with the Prior Bonds will be inserted at this place] (To Third Supplemental Participation Agreement, dated as of December 1, 1994, between New York State Energy Research and Development Authority and Consolidated Edison Company of New York, Inc.)
Exempt Facilities. [A copy of Exhibit A to the Participation Agreement
Exempt Facilities. Each of (i) the Owner Lessor, as purchaser of the Facility from the Company, and (ii) the Company, as lessee under the Facility Lease, understands and agrees that:
(a) The Facility includes the Exempt Facilities that have been financed, and refinanced, in whole or in part, by Central ▇▇▇▇▇▇ with the proceeds of the Revenue Bonds the interest on which, with certain exceptions, is excluded from gross income for purposes of federal income taxation; and Central ▇▇▇▇▇▇ is the economic obligor in respect of such Revenue Bonds.
(b) The basis for such exclusion is the use of the Exempt Facilities for the purpose of (i) the abatement or control of atmospheric or water pollution or contamination and/or (ii) the collection, storage, treatment, utilization, processing or final disposal of solid waste and/or the collection, storage, treatment, utilization, processing or final disposal of sewage, such qualifying purposes being discussed in more detail in Sections 2(b) and 3(b) below.