Favorable Opinion of Bond Counsel. Any supplemental indenture governed by this Article X shall be accompanied by a Favorable Opinion of Bond Counsel.
Favorable Opinion of Bond Counsel. Any amendment governed by this Article shall be accompanied by a Favorable Opinion of Bond Counsel.
Favorable Opinion of Bond Counsel. The term ―Favorable Opinion of Bond Counsel‖ shall mean an opinion of Bond Counsel addressed to the Authority, the City, the Trustee and the Remarketing Agent (if any) to the effect that an action proposed to be taken is not prohibited by the laws of the State or this Indenture and will not, in and of itself, adversely affect any exclusion of interest on the Bonds from gross income for purposes of federal income taxation. Federal Securities. The term ―Federal Securities‖ means United States of America Treasury bills, notes, bonds or certificates of indebtedness, or obligations for which the full faith and credit of the United States of America are pledged for the payment of interest and principal, or securities evidencing direct ownership interests in such obligations or in specified portions of the interest on or principal of such obligations that are held by a custodian in safekeeping on behalf of the owners of such securities.
Favorable Opinion of Bond Counsel. The Trustee shall be entitled to receive, and shall be fully protected in relying upon, a Favorable Opinion of Bond Counsel in connection with any proposed Supplemental Agreement. Prior to taking any action hereunder, the Trustee shall be entitled to assurance as to the payment of the fees and expenses of any counsel providing such opinion.
Favorable Opinion of Bond Counsel. Notwithstanding the foregoing, the Authority will not be required to comply with any of the federal tax covenants set forth above if the Authority has received an opinion of nationally recognized bond counsel that such noncompliance will not adversely affect the excludability of interest on the Note from gross income for federal income tax purposes.
Favorable Opinion of Bond Counsel. Notwithstanding the foregoing, the City will not be required to comply with any of the federal tax covenants set forth above if the City has received an opinion of nationally recognized bond counsel or tax counsel that such noncompliance will not adversely affect the excludability of interest on the Series 2021 Bonds from gross income for federal income tax purposes.
Favorable Opinion of Bond Counsel. If any Tax-Exempt Series B Note is then outstanding, the County shall cause an Approving Opinion to be delivered to the Purchaser each time a new Benchmark Replacement is determined and, notwithstanding anything to the contrary herein or in any other Financing Document, in no event shall a Benchmark Replacement replace the then-current Benchmark prior to the Purchaser’s receipt of the Approving Opinion with respect to such Benchmark Replacement. The Purchaser does not warrant or accept any responsibility for, and shall not have any liability with respect to (a) the continuation of, administration of, submission of, calculation of or any other matter related to the Benchmark, any component definition thereof or rates referred to in the definitions thereof or with respect to any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, the Benchmark, the Tax-Exempt SOFR Index Rate or the Taxable SOFR Index Rate or any other Benchmark, the Tax-Exempt SOFR Index Rate or the Taxable SOFR Index Rate prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any Conforming Changes. To the extent permitted by law, the Purchaser and its affiliates or other related entities may engage in transactions that affect the calculation of the Benchmark, the Tax-Exempt SOFR Index Rate or the Taxable SOFR Index Rate any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the County. The Purchaser may select information sources or services in its reasonable discretion to ascertain the Benchmark, any component definition thereof or rates referred to in the definitions thereof, in each case pursuant to the terms of this Seventh Supplemental Trust Agreement, and shall have no liability to the County or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or servic...
