Maintenance of Tax-Exempt Status. Not take any action or omit to take any action which, if taken or omitted, would adversely affect the exemption of interest on any tax-exempt bond or note of the City, including the Bonds, from Federal income taxes.
Maintenance of Tax-Exempt Status. In carrying out the Project, the Grantee shall comply with all applicable federal, state and local laws and regulations. If the Grantee is a 501(c)(3) organization, the Grantee certifies that it is in good standing with the Internal Revenue Service and shall notify the ASPCA immediately of any change in, or challenge by the Internal Revenue Service to, its status as a 501(c)(3) tax-exempt organization.
Maintenance of Tax-Exempt Status. The City shall not take any action or omit to take any action which, if taken or omitted, would adversely affect the tax exempt status of the Tax-Exempt Revolving Loans and the Tax-Exempt Term Loan.
Maintenance of Tax-Exempt Status. The CAO shall conduct its activities so as to main- tain its tax exempt status under Section 501(c)(3) of the Code or other applicable laws.
Maintenance of Tax-Exempt Status. Nothing in this Agreement shall be construed on interpreted in any matter that could adversely affect or impact the Corporation’s status as an organization exempt under Section 501(c)(3) or cause it or its directors to be subject to any material penalty or fine related to such code section. If the Corporation determines in its reasonable discretion that any terms of this Agreement or the performance of any obligations hereunder will either (i) jeopardize Corporation’s status as an organization exempt under Section 501(c) (3) or cause it or its directors to be subject to any material penalty or fine related to such code section, the Corporation may, in its discretion, (i) request written amendment of this Agreement to remove or amend the applicable sections, or (ii) terminate this Agreement upon no less than thirty (30) days’ prior written notice to Member.
Maintenance of Tax-Exempt Status. The City shall comply with its agreements set forth in the Tax Certificate and shall not act in any other manner which would adversely affect the exclusion of the interest on the Loan from the gross income of the Beneficial Owners thereof for federal income or State income tax purposes.
Maintenance of Tax-Exempt Status. The Issuer and the company hereby covenant with the Owners of the Bonds that neither will take or cause to be taken or acquiesce in the taking of any action or proceeding or direct the Trustee to take any action which will result in the interest to be payable on any of the Bonds becoming included in gross income of the Holders of the Bonds for federal income tax purposes.
