Approving Opinion definition

Approving Opinion means, with respect to any action relating to the Notes, an opinion delivered by Bond Counsel to the effect that such action (i) is permitted by this Agreement and the other Financing Documents and (ii) will not adversely affect the exclusion of interest on the Notes from the gross income of any Noteholder for purposes of federal income taxation.

Approving Opinion means, with respect to any action relating to any or all Tax-Exempt Loans or any or all Tax-Exempt Term Loans, an opinion delivered by Bond Counsel to the effect that such action (i) is permitted by this Agreement and the other Related Documents and (ii) will not adversely affect the exclusion of interest on such Tax-Exempt Loans or Tax-Exempt Term Loans from gross income of the Bank for purposes of federal income taxation.

Approving Opinion means, with respect to any action relating to the Bonds, the occurrence of which requires an Opinion of Counsel, an Opinion of Counsel delivered by Bond Counsel to the effect that such action (a) is permitted by this Indenture and the Act, and (b) will not adversely affect the exclusion of interest on the Bonds from gross income of the Owners for purposes of federal income taxation.

Examples of Approving Opinion in a sentence

• In rendering this opinion, we have examined and relied upon the matters contained, referred to and identified, and to the same extent stated, in the Approving Opinion.

• In connection with the issuance of the Bonds, we have delivered to you a copy of our approving legal opinion as Bond Counsel (the “Approving Opinion”) and you may rely upon such Approving Opinion as if such opinion were addressed to you.

• All terms used in this supplemental opinion and not defined herein shall have the same meaning as assigned in the Approving Opinion.

• Pursuant to Section 105(D)(2)(i) of Appendix A to the Supplemental Resolution, the Trustee is hereby permitted to deliver a copy of our Approving Opinion in connection with the Bonds.

• Subject to the completion of proceedings to Outside Counsel's satisfaction, render Outside Counsel's legal opinion to the Agency (the "Approving Opinion") regarding the validity and binding effect of the Securities, the source of payment and security for the Securities, and, if the Securities are issued on such basis, the excludability of interest on the Securities from gross income for federal income tax purposes.

More Definitions of Approving Opinion

Approving Opinion means an opinion of Bond Counsel (addressed and delivered to the Authority and the Trustee) that an action being taken (i) is authorized by this Indenture and complies with the terms of the Agreement, if applicable, and (ii) will not, in and of itself, adversely affect the Tax-exempt status of the Bonds.

Approving Opinion means an opinion of Bond Counsel that an action being taken (i) is authorized by the Act and the Indenture, and (ii) will not adversely affect the Tax-Exempt status of the Bonds.

Approving Opinion means an opinion of Bond Counsel, acceptable to the Authority, that an action being taken (i) is authorized by applicable law and this Indenture, and (ii) will not adversely affect the Tax‑exempt status of interest on the Bonds.

Approving Opinion means, with respect to any action or matter that may affect a Tax- Exempt Loan, an opinion delivered by Bond Counsel to the effect that such action (i) is permitted by this Agreement and the other Related Documents and, (ii) will not adversely affect the exclusion of interest on any Tax-Exempt Loan from gross income of the Lender or any Participant for purposes of federal income taxation.

Approving Opinion means an opinion of Bond Counsel addressed to the Trustee and the Agency, that an action being taken (i) is authorized by the Act and the Trust Agreement, and (ii) will not, in and of itself, adversely affect the tax exempt status of the Bonds.

Approving Opinion means, with respect to any action relating to the Series B Notes, the occurrence of which requires an opinion of counsel, an opinion of counsel delivered by Counsel to the effect that such action (a) is permitted by this Agreement and (b) will not adversely affect the exclusion of interest on the Tax-Exempt Series B Notes from gross income of the County for purposes of federal income taxation. Any such opinion of counsel shall be in form and substance satisfactory to Purchaser.

Approving Opinion means, with respect to any action relating to Certificates, an opinion delivered by Bond Counsel to the effect that such action is permitted by this Agreement and the other Related Documents.