Arbitrage and Rebate Sample Clauses

Arbitrage and Rebate. (Section 148)
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Arbitrage and Rebate. (a) The Company acknowledges having read Section 5.09 of the Indenture and agrees to perform all duties imposed upon it by such Sections. Insofar as said Sections or any other sections of the Indenture expressly or implicitly impose duties and responsibilities on the Company, they are specifically incorporated herein by reference.
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Arbitrage and Rebate. (a) The Borrower hereby covenants with, and certifies to, and for the benefit of, the holders of the Bonds and the Authority that so long as the Bonds remain Outstanding, moneys on deposit in any fund or account established, maintained or permitted to be established or maintained under the Indenture or under any of the Basic Documents in connection with the Bonds, whether or not such moneys were derived from the proceeds of the sale of the Bonds or from any other source, will not be used or invested in a manner which will cause the Bonds to be classified as "arbitrage bonds" within the meaning of Section 148(a) of the Code. The Borrower obligates itself to comply with the requirements of Section 148 of the Code and any regulations, whether temporary or final, promulgated thereunder or relating thereto, including but not limited to Treasury Regulation Sections 1.148-0 through 1.148-11 (such Section 148 and such regulations hereinafter referred to as the "Arbitrage Rules").
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Arbitrage and Rebate. (a) The Company covenants that it will not take any action, or fail to take any action, if any such action or failure to take action would adversely affect the Income Exclusion. The Company will take and will cause its members, managers, employees and agents to take all affirmative actions legally within its power necessary to ensure that the Bonds continue to be subject to the Income Exclusion (including, without limitation, the calculation of rebate required to preserve the Income Exclusion). The Company will comply with Sections 103 through 150 of the Code and further covenants not to directly or indirectly use or permit the use (including the making of any investment) of any Bond proceeds or any other funds of the Authority or the Company, or take or omit to take any action, that would cause the Bonds to be “arbitrage bonds” within the meaning of Section 148(a) of the Code.
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Arbitrage and Rebate. Fund Calculations 11
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Arbitrage and Rebate. Neither the Company nor the Issuer shall (i) take or omit to take any action, or approve, the making by the Company of any investment or use of any proceeds of the Bonds or any other moneys within their respective control (including, without limitation, the proceeds of any insurance or any condemnation award with respect to the Project), or the taking or omission of any other action, which would cause the Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Code, or (ii) approve the use of any proceeds from the sale of the Bonds otherwise than in accordance with this Loan Agreement or the Tax Regulatory Agreement, barring any unforeseen circumstances, in which event, the Company and the Issuer shall use such proceeds with due diligence and shall otherwise comply with this Loan Agreement. Without limiting the generality of the foregoing, the Company shall at its sole expense take all action required under Section 148 of the Code and Treasury Regulations thereunder to prevent loss of the exclusion of the interest on the Bonds from gross income of the Owners thereof for federal income tax purposes under such Section, including, but not limited to, paying on behalf of the Issuer the "rebatable arbitrage amount" to the United States of America in accordance with the requirements set forth in the related Treasury Regulations and complying with the requirements of Section 5.08 of the Indenture, including making the annual calculations and deposits required therein. The Company shall also comply with any similar requirements contained in any Treasury Regulations adopted in place of the existing Treasury Regulations and all other requirements of any such Treasury Regulations, to the extent applicable to the Bonds. The Company shall, upon request of the Issuer, provide the Issuer a copy of all calculations, compliance reports and all other documents prepared in compliance with Section 148 of the Code, the Tax Regulatory Agreement, this Section 5.13(e) and Section 5.08 of the Indenture. All costs and expenses incurred in connection with the satisfaction of such requirements shall be paid by the Company.
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Arbitrage and Rebate. The Borrower hereby covenants with, -------------------- and certifies to, and for the benefit of, the holders of the Bonds and the Issuer that so long as the Bonds remain Outstanding, moneys on deposit in any fund or account established, maintained or permitted to be established or maintained under the Indenture or under any of the Financing Documents in connection with the Bonds, whether or not such moneys were derived from the proceeds of the sale of the Bonds or from any other source, will not be used or invested in a manner which will cause the Bonds to be classified as "arbitrage bonds" within the meaning of Section 148(a) of the Code. The Borrower obligates itself to comply with the requirements of Section 148 of the Code and any regulations, whether temporary or final, promulgated thereunder or relating thereto, including but not limited to Temporary Treasury Regulation Sections 1.103-15AT and 1.148-l through 1.148-11 (such Section 148 and such regulations hereinafter referred to as the "Arbitrage Rules"). The Borrower agrees to cause to be prepared, by an independent certified public accountant or other expert in tax arbitrage matters reasonably acceptable to the Trustee, a statement or report as to the amount of "rebatable arbitrage" with respect to the Bonds, computed in accordance with the Arbitrage Rules (hereinafter, a "Rebate Statement") as of the end of the fifth and tenth years after the date of issuance of the Bonds (the "Issue Date") and to furnish the same to the Trustee not later than the fortieth (40th) day following each fifth anniversary of the Issue Date while any Bonds are Outstanding. If at the end of each such five year period, funds aggregating the Rebate Amount (hereinafter defined) do not exist in the Rebate Fund, then the Borrower shall pay to the Trustee for deposit into the Rebate Fund within forty (40) days after the end of such five year period the amount needed to be paid into the Rebate Fund to increase the funds therein to an amount equal to such Rebate Fund.
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