Arbitrage Rebate definition

Arbitrage Rebate means a payment made by an Issuer, or “obligated party” such as a conduit borrower, to the federal government in connection with an issue of Tax-Exempt or other federally tax- advantaged Securities. The payment represents the amount, if any, of investment earnings that exceed the yield on the Securities, except for earnings that are not required to be rebated under limited exemptions provided under the IRC.
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Arbitrage Rebate means any profit gained from investing bond proceeds at a yield above the bond yield that must be returned to the Federal Government. The arbitrage earning limit for this Project is «arbitrage_rate»%.
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Examples of Arbitrage Rebate in a sentence

  • The Arbitrage Rebate Instructions may be amended or replaced by new Arbitrage Rebate Instructions delivered by the District and accompanied by an Opinion of Bond Counsel addressed to the Trustee and the Borrower to the effect that the use of said amended or new Arbitrage Rebate Instructions will not adversely affect the excludability of interest on the Bonds and the Borrower Bond from gross income of the recipients thereof for federal income tax purposes.

  • For rebating arbitrage (or paying a penalty in lieu of arbitrage rebate) to the Federal Government, use Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate.

  • The Company acknowledges Section 6.04 of the Indenture and agrees to perform all duties imposed upon it by such Section including but not limited to its obligations under the Arbitrage Rebate Agreement.

  • For rebating arbitrage (or paying a penalty in lieu of arbitrage rebate) to the federal government, use Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate.

  • Notwithstanding the foregoing, money in the Debt Retirement Fund not required to pay the Redemption Price or purchase price of Bonds theretofore called for redemption or contracted to be purchased shall, at the direction of an Authorized Officer of the Corporation, be withdrawn from the Debt Retirement Fund and transferred to the Debt Service Fund or the Arbitrage Rebate Fund at any time money is required for the purposes of such funds.

  • In the event that either Issuer or any of its Restricted Subsidiaries creates or acquires any Domestic Restricted Subsidiary after the Issue Date, if required by Section 4.15, the Company will cause such Domestic Restricted Subsidiary to comply with the provisions of Section 4.15 and this Article 10, to the extent applicable.

  • The Trustee shall deposit to the Arbitrage Rebate Fund any money delivered to it by the Corporation for deposit therein and, notwithstanding any other provisions of this Article V, shall transfer to the Arbitrage Rebate Fund, in accordance with the directions of an Authorized Officer of the Corporation, money on deposit in any other funds or accounts held by the Trustee hereunder at such times and in such amounts as shall be set forth in such directions.

  • Following the determination of the Rebate Amount as of the end of the Rebate Year, the Company shall deposit into the Arbitrage Rebate Fund the amount, if any, required to be deposited therein pursuant to Section 5.8 of the Indenture.

  • All money at any time deposited in the Arbitrage Rebate Fund shall be held by the Trustee in trust, to the extent required to satisfy the Rebate Requirement (as defined in the Tax Certificate), for payment to the Treasury Department of the United States of America.

  • After each payment required in Section 6.3 is made and any additional amount necessary to pay the full rebate obligation is retained, the remaining amount in the Series 2021 Arbitrage Rebate Fund shall be retained by the County and used for any lawful purpose.