Exempt Costs definition

Exempt Costs means Cost of Construction of the Project to the extent ------------ that the payment thereof would constitute, within the meaning of Sections 142(a)(5) and (6) of the Code, the payment of costs to provide facilities that are sewage facilities or solid waste disposal facilities within the meaning of said Code section or facilities functionally related and subordinate thereto, excluding amounts paid as costs of issuance of the Bonds but including fees paid to the issuer of the Letter of Credit during the construction of the Project.
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Examples of Exempt Costs in a sentence

  • The Company hereby covenants that at ---------------- least 95% of the total proceeds of the sale of the Bonds will be used to pay Costs of Construction of the Project which constitute Exempt Costs and that all of the Net Proceeds of the Bonds deposited within the Project Fund pursuant to the Indenture will be used to pay the Cost of Construction of the Project.

  • The Company hereby covenants that at --------------- least 95% of the total proceeds of the sale of the Bonds will be used to pay Costs of Construction of the Project which constitute Exempt Costs and that all of the Net Proceeds of the Bonds deposited within the Project Fund pursuant to the Indenture will be used to pay the Cost of Construction of the Project.

  • The Company hereby covenants that at least 95% of the total proceeds of the sale of the Bonds will be used to pay Costs of Construction of the Project which constitute Exempt Costs and that all of the Net Proceeds of the Bonds deposited within the Project Funds pursuant to the Indentures will be used to pay the Cost of Construction of the Project.

  • The Corporation agrees that it will not submit any requisition pursuant to Section 3.03 hereof which, if paid, would result (upon the expenditure to pay Exempt Costs of the balance of the proceeds of the Bonds on deposit in the Project Fund after payment of such requisition) in less than 90 percent of the Net Proceeds of the Bonds being used to pay Exempt Costs.

  • F&A Exempt Costs: Funds are requested for workshop/conference costs for all of the workshops, seminars, to be conducted each year including space rental, refreshments, beverages, snacks, and meals.

  • With the exception of reimbursement for Exempt Costs, total compensation for services rendered by County to SAFCA, including reimbursable expenses, shall not exceed the Total Price Ceiling.