Examples of Determination of Taxability in a sentence
So long as (a) any monthly installment under this Governmental Note remains past due, (b) any other Event of Default has occurred and is continuing, or (c) a Determination of Taxability has occurred and is continuing, interest under this Governmental Note shall accrue on the unpaid principal balance from the earlier of the due date of the first unpaid monthly installment, the occurrence of any other Event of Default, or the occurrence of a Determination of Taxability, as applicable, at the Default Rate.
Upon the occurrence of a Determination of Taxability, the Series 2019A Bonds shall bear interest at the Taxable Rate from the Taxable Date and this adjustment shall survive payment of the Series 2019A Bonds until such time as the federal statute of limitations under which interest thereon could be declared taxable under the Code shall have expired.
The Fiscal Agent shall give written notice to the Governmental Lender, the Servicer and the Funding Lender Representative of any failure by the Borrower to comply with the terms of the Tax Regulatory Agreement or any Determination of Taxability of which a Responsible Officer has actual knowledge.