Common use of Rebate Fund Clause in Contracts

Rebate Fund. (A) Upon receipt of funds to be applied to the Rebate Requirement, the Trustee shall establish and maintain a fund separate from any other fund established and maintained hereunder designated as the Rebate Fund. Within the Rebate Fund, the Trustee shall maintain such accounts as shall be necessary in order to comply with the terms and requirements of each Tax Certificate as directed in writing by the Authority. Subject to the transfer provisions provided in paragraph (C) below, all money at any time deposited in the Rebate Fund shall be held by the Trustee in trust, to the extent required to satisfy the Rebate Requirement, for payment to the federal government of the United States of America, and neither the Trustee nor any Holder nor any other Person shall have any rights in or claim to such money. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Trust Agreement and by the applicable Tax Certificates. The Authority hereby covenants to comply with the directions contained in each Tax Certificate and the Trustee hereby covenants to comply with all written instructions of the Authority delivered to the Trustee pursuant to each Tax Certificate (which instructions shall state the actual amounts to be deposited in or withdrawn from the Rebate Fund and shall not require the Trustee to make any calculations with respect thereto). The Trustee shall be deemed conclusively to have complied with the provisions of this Section 5.09(A) if it follows such instructions of the Authority, and the Trustee shall have no liability or responsibility to enforce compliance by the Authority with the terms of any Tax Certificate nor to make computations in connection therewith.

Rebate Fund. (Aa) Upon receipt of funds to be applied to the Rebate Requirement, the The Trustee shall establish and maintain maintain, when required, a fund separate from any other fund established and maintained hereunder designated as the Rebate Fund. Within the Rebate Fund, the Trustee shall maintain such accounts as shall be necessary in order to comply with written instructions of the Corporation given pursuant to the terms and requirements conditions of each the Tax Certificate as directed in writing by the AuthorityCertificate. Subject to the transfer provisions provided in paragraph (Ce) below, all money at any time deposited in the Rebate Fund shall be held by the Trustee in trust, to the extent required to satisfy the Rebate RequirementRequirement (as defined in the Tax Certificate), for payment to the federal government of the United States of America. Neither the Authority, and neither the Trustee Corporation nor the Holder of any Holder nor any other Person Tax Exempt Bonds shall have any rights in or claim to such money. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Trust Agreement Section, by Section 6.09 and by the applicable Tax Certificates. The Authority hereby covenants to comply with the directions contained in each Tax Certificate and the Trustee hereby covenants to comply with all written instructions of the Authority delivered to the Trustee pursuant to each Tax Certificate (which instructions shall state the actual amounts to be deposited in or withdrawn from the Rebate Fund and shall not require the Trustee to make any calculations with respect theretois incorporated herein by reference). The Trustee shall be deemed conclusively to have complied with the such provisions of this Section 5.09(A) if it follows such instructions the directions of the AuthorityCorporation including supplying all necessary information in the manner provided in the Tax Certificate, and the Trustee shall have no liability or responsibility to enforce compliance by the Corporation or the Authority with the terms of any the Tax Certificate nor or any other tax covenants contained herein. The Trustee shall not be responsible for calculating rebate amounts or for the adequacy or correctness of any rebate report or rebate calculations. The Trustee shall have no independent duty to make computations review such calculations or enforce the compliance by the Corporation with such rebate requirements. The Trustee shall have no duty or obligation to determine the applicability of the Code and shall only be obligated to act in connection therewithaccordance with written instructions provided by the Corporation.

Rebate Fund. (Aa) Upon receipt of funds to be applied to the Rebate Requirement, the Trustee The Issuing and Paying Agent shall establish and maintain a fund separate from any other fund established and maintained hereunder designated as the Rebate Fund. Within the Rebate Fund, the Trustee Issuing and Paying Agent shall maintain such accounts as shall be necessary in order to comply with the terms and requirements of each the Tax Certificate as directed in writing by the AuthorityCertificate. Subject to the transfer provisions provided in paragraph subsection (Cc) below, all money at any time deposited in the Rebate Fund shall be held by the Trustee Issuing and Paying Agent for the account of the City in trust, to the extent required to satisfy the Rebate RequirementRequirement (as defined in the Tax Certificate), for payment to the federal government of the United States of America, and neither the Trustee Issuing and Paying Agent nor the Owner of any Notes nor any Holder nor any other Person Bank shall have any rights in or claim to such money. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Trust Issuing and Paying Agent Agreement and by the applicable Tax CertificatesCertificate (which is incorporated herein by reference). The Authority City hereby covenants to comply with the directions contained in each the Tax Certificate and the Trustee Issuing and Paying Agent hereby covenants to comply with all written instructions of the Authority City delivered to the Trustee Issuing and Paying Agent pursuant to each the Tax Certificate (which instructions shall state the actual amounts to be deposited in or withdrawn from the Rebate Fund and shall not require the Trustee Issuing and Paying Agent to make any calculations with respect thereto). The Trustee Issuing and Paying Agent shall be deemed conclusively to have complied with the provisions of this Section 5.09(A6.07(a) if it follows such instructions of the AuthorityCity, and the Trustee Issuing and Paying Agent shall have no liability or responsibility to enforce compliance by the Authority City with the terms of any the Tax Certificate nor to make computations in connection therewith.

Rebate Fund. (A) Upon receipt If directed in a Certificate of funds Authorized Representative of the City or a Certificate of Authorized Representative of the Authority with respect to be applied to the Rebate Requirementany series of Tax-exempt Bonds, the Trustee shall establish when required and maintain with respect to such series a fund separate from any other fund or account established and maintained hereunder designated as the “Series ___ Rebate Fund” (hereafter referred to as the “Rebate Fund”). Within Upon the written direction of the City or the Authority provided in a Certificate of Authorized Representative of the City or a Certificate of Authorized Representative of the Authority, there shall be deposited in the Rebate Fund, the Trustee shall maintain Fund such accounts amounts as shall are required to be necessary in order to comply with the terms and requirements of each Tax Certificate as directed in writing by the Authority. Subject deposited therein pursuant to the transfer provisions provided in paragraph (C) below, all Tax Certificate. All money at any time deposited in the Rebate Fund shall be held by the Trustee in trust, to the extent required to satisfy the Rebate RequirementAmount (as defined in the Tax Certificate), for payment to the federal government of the United States of America. Notwithstanding the provisions of Section 3.1, Section 4.8, Section 4.9, Section 4.10, and neither Section 8.1 (relating to the Trustee nor pledge of the Trust Estate, deposits of money under this Trust Agreement, the investments of money in any Holder nor any other Person shall have any rights in fund or claim account, and the defeasance of Bonds), all amounts required to such money. All amounts be deposited into or on deposit in the Rebate Fund shall be governed exclusively by this Trust Agreement Section 4.11 and by the applicable Tax Certificates. The Authority hereby covenants to comply with the directions contained in each Tax Certificate and the Trustee hereby covenants to comply with all written instructions of the Authority delivered to the Trustee pursuant to each Tax Certificate (which instructions shall state the actual amounts to be deposited in or withdrawn from the Rebate Fund and shall not require the Trustee to make any calculations with respect theretois incorporated herein by reference). The Trustee shall be deemed conclusively to have complied with the such provisions of this Section 5.09(A) if it follows such instructions the Certificate of Authorized Representative of the City or a Certificate of Authorized Representative of the Authority, and the Trustee shall have no liability or responsibility to enforce compliance by the Authority or the City with the terms of any the Tax Certificate nor to make computations in connection therewith.Certificate. COVENANTS, EVENTS OF DEFAULT, REMEDIES OF BONDOWNERS AND LIMITATIONS OF LIABILITY

Rebate Fund. (Aa) Upon receipt of funds to be applied In addition to the Rebate Requirementother funds and accounts created pursuant hereto, the Trustee shall establish and maintain a fund separate from any other fund or account established and maintained hereunder designated as the “Rebate Fund” (the “Rebate Fund”) in connection with the Bonds. Within the Rebate Fund, the Trustee shall maintain such accounts or subaccounts as are specified in a Written Request of the Agency to the Trustee pursuant to the Tax Certificate. The Trustee shall be necessary deposit moneys in order the Rebate Fund pursuant to comply with a Written Request of the terms and requirements of each Tax Certificate as directed in writing by the AuthorityAgency. Subject to the transfer provisions provided in paragraph (C) below, all money at any time deposited in the Rebate Fund shall be held by the Trustee in trust, to the extent required to satisfy the Rebate Requirement, for payment to the federal government of the United States of America, and neither none of the Agency, the Trustee nor or the Owner of any Holder nor any other Person Bond shall have any rights right in or claim to such money. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Trust Agreement Section and by the applicable Tax Certificates. The Authority hereby covenants to comply with the directions contained in each Tax Certificate and the Trustee hereby covenants to comply with all written instructions of the Authority delivered to the Trustee pursuant to each Tax Certificate (which instructions shall state the actual amounts to be deposited in or withdrawn from the Rebate Fund and shall not require the Trustee to make any calculations with respect theretois incorporated herein by reference). The Trustee shall be deemed conclusively to have complied with the provisions of this Section 5.09(A) 4.03 and the Tax Certificate if it follows such instructions the Written Request of the AuthorityAgency, including supplying all necessary information in the manner requested by the Agency, and except as otherwise expressly provided herein, shall not be required to take any actions hereunder in the Trustee absence of written directions by the Agency, and shall have no liability or responsibility to enforce compliance by the Authority Agency with the terms of any the Tax Certificate nor or this Section. The Trustee agrees to make computations in connection therewithcomply with all Written Requests of the Agency given pursuant to the Tax Certificate.

Rebate Fund. (Aa) Upon receipt of funds to be applied to the Rebate Requirement, the The Trustee shall establish and maintain maintain, when required, a fund separate from any other fund established and maintained hereunder designated as the Rebate Fund. Within the Rebate Fund, the Trustee shall maintain such accounts as shall be necessary in order to comply with instructions of the Corporation given pursuant to the terms and requirements conditions of each the Tax Certificate as directed in writing by the AuthorityAgreement. Subject to the transfer provisions provided in paragraph (Ce) below, all money at any time deposited in the Rebate Fund shall be held by the Trustee in trust, to the extent required to satisfy the Rebate RequirementRequirement (as defined in the Tax Agreement), for payment to the federal government of the United States of America. Neither the Authority, and neither the Trustee Corporation nor the Owner of any Holder nor any other Person Bonds shall have any rights in or claim to such money. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Trust Agreement Section 5.07, by Section 6.07 and by the applicable Tax Certificates. The Authority hereby covenants to comply with Agreement (which is incorporated herein by reference, but the directions contained in each Tax Certificate and provisions of which the Trustee hereby covenants to comply with all written instructions of the Authority delivered to the Trustee pursuant to each Tax Certificate (which instructions shall state the actual amounts to be deposited in or withdrawn from the Rebate Fund and shall not require the Trustee be deemed to make any calculations with respect theretohave knowledge). The Trustee shall be deemed conclusively to have complied with the such provisions of this Section 5.09(A) if it follows such instructions the directions of the AuthorityCorporation including supplying all necessary information in the manner provided in the Tax Agreement, and the Trustee shall have no liability or responsibility to enforce compliance by the Corporation or the Authority with the terms of the Tax Agreement or any Tax Certificate nor other tax covenants contained herein. The Trustee shall not be responsible for calculating rebate amounts or for the adequacy or correctness of any rebate report or rebate calculations. The Trustee shall have no independent duty to make computations review such calculations or enforce the compliance by the Corporation with such rebate requirements. The Trustee shall have no duty or obligation to determine the applicability of the Code and shall only be obligated to act in connection therewithaccordance with written instructions provided by the Corporation.

Rebate Fund. (Aa) Upon receipt of funds to be applied to the Rebate Requirement, the The Trustee shall establish and maintain a fund separate from any other fund established and maintained hereunder designated as the Rebate Fund. Within the Rebate Fund, the Trustee shall maintain such accounts as shall be necessary in order to comply with the terms and requirements of each Tax Certificate as directed in writing by the AuthorityCertificate. Subject to the transfer provisions provided in paragraph subsection (Cc) below, all money at any time deposited in the Rebate Fund shall be held by the Trustee for the account of the Commission in trust, to the extent required to satisfy the Rebate RequirementRequirement (as defined in each Tax Certificate), for payment to the federal government of the United States of America, and neither the Trustee nor the Owner of any Holder Notes nor any other Person Bank shall have any rights in or claim to such money. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Trust Agreement Indenture and by the applicable provisions of each Tax CertificatesCertificate (which are incorporated herein by reference). The Authority Commission hereby covenants to comply with the directions contained in each Tax Certificate and the Trustee hereby covenants to comply with all written instructions of the Authority Commission delivered to the Trustee pursuant to each Tax Certificate (which instructions shall state the actual amounts to be deposited in or withdrawn from the Rebate Fund and shall not require the Trustee to make any calculations with respect thereto). The Trustee shall be deemed conclusively to have complied with the provisions of this Section 5.09(A6.08(a) if it follows such instructions of the AuthorityCommission, and the Trustee shall have no liability or responsibility to enforce compliance by the Authority Commission with the terms of any Tax Certificate nor to make computations in connection therewith.