Governmental bonds definition
Governmental bonds means bonds other than private activity bonds.
Governmental bonds. Purchaser shall have delivered to Seller either: (i) copies of any bonds covering the Assets required under any laws, rules or regulations of any federal, state or local governmental agency having jurisdiction over the Assets issued by corporate sureties satisfactory to Seller or a commitment by a surety company, satisfactory to Seller, to issue such bonds upon Closing; and (ii) copies of all other necessary or appropriate consents, permits, insurance, approvals, authorizations and similar items required of Purchaser to purchase, receive, own and operate the Assets as of the Closing and to otherwise transact business in the applicable jurisdiction(s).
Governmental bonds shall have the meaning given such term in Section 5.6.
More Definitions of Governmental bonds
Governmental bonds. Upon written request by Seller, Purchaser shall deliver or cause to be delivered to Seller proof of bonds, in form and substance and issued by corporate sureties satisfactory to Seller, covering the Interests required under any laws, rules or regulations of any federal, state or local government agencies having jurisdiction over the Interests, or a commitment by a surety company, satisfactory to Seller, to issue such bonds upon Closing, or such other security or form of guarantee of such obligations that may be satisfactory to the appropriate agency.
Governmental bonds means bonds issued as part of an issue the interest on which is excluded from gross income for federal income tax purposes under Code §103(a) and which are not Qualified Private Activity Bonds or Qualified 501(c)(3) Bonds.
Governmental bonds means (1) direct obligations of (including obligations issued or held in book entry form on the books of), or obligations the timely payment of the principal of and interest on which are fully and unconditionally guaranteed by, the United States of America, (2) obligations authorized under Texas law at the time of deposit for discharge and final payment of governmental obligations which, at the time of deposit, have been assigned ratings in the highest ratings category by a nationally recognized investment rating firm not less than AAA or its equivalent, but in the case of each of Clauses (1) and (2), only if such obligations may not be called for redemption prior to maturity.
Governmental bonds means the 2011 Series B Bonds.
Governmental bonds or “government bonds” means that the referenced obligation would qualify as tax-exempt non-private activity bonds under Sections 103 and 141 et seq. of the Code.