Arbitrage and Rebate Sample Clauses

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. (b) 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 Agreement or the Non-Arbitrage Certificate, 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 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 5.09 of the Indenture and this Section, including making the calculations and deposits required therein (with all such calculations to be supplied to the Issuer). 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 maintain or cause to be maintained records of any such rebate calculations for six (6) years after retirement of the Bonds. (c) Nothing contained in this Agreement or in the Indenture shall be interpreted or construed to require the Issuer to pay the Rebate Amount, such obligations being the sole responsibility of 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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Arbitrage and Rebate. (Section 148)
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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 officers, employees and agents to take all affirmative action 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. (b) The Company hereby covenants that in connection with complying with the requirement for payment of the Rebatable Arbitrage to the United States with respect to the Bonds the Company will take the following actions: (i) Six months after closing, the Company will provide a written certification to the Authority and the Trustee indicating whether the Company complied with the six month exception to the arbitrage rebate requirement set forth in Section 148(f)(4)(B) of the Code. (ii) Unless the Company has complied with the six month exception, the Company will retain a Rebate Expert (defined below) on or within thirty (30) days before the Initial Rebate Computation Date (defined below) and on each Rebate Computation Date (defined below) thereafter, (A) to compute the Rebatable Arbitrage with respect to the Bonds for the period ending on Initial Rebate Computation Date, (B) to deliver an opinion to the Authority and Trustee, concerning its conclusions with respect to the amount (if any) of such Rebatable Arbitrage together with a written report providing a summary of the calculations relating thereto and (C) to deliver an opinion to the Authority and the Trustee that all of the gross proceeds of the Bonds (within the meaning of Section 148(f) of the Code), other than gross proceeds of the Bonds on deposit in a bona fide debt service fund (within the meaning of Section 148(f)(4) of the Code), have been expended on or prior to the Initial Rebate Computation Date. If a rebate exception applies to the proceeds of the Bonds, the Company will cause a Rebate Expert to deliver an opinion to the Author...
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Arbitrage and Rebate. Fund Calculations 11
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Related to Arbitrage and Rebate

  • Procurement of Goods and Services (a) If the HSP is subject to the procurement provisions of the BPSAA, the HSP will abide by all directives and guidelines issued by the Management Board of Cabinet that are applicable to the HSP pursuant to the BPSAA. (b) If the HSP is not subject to the procurement provisions of the BPSAA, the HSP will have a procurement policy in place that requires the acquisition of supplies, equipment or services valued at over $25,000 through a competitive process that ensures the best value for funds expended. If the HSP acquires supplies, equipment or services with the Funding it will do so through a process that is consistent with this policy.

  • Procurement Standards For projects being managed by the Local Government and on the State highway system or that include state funding, the Local Government must obtain approval from the State for its proposed procurement procedure for the selection of a professional services provider, a contractor for a construction or maintenance project, or a materials provider.

  • Skidding and Yarding Methods of skid- ding or yarding specified for particular areas, if any, are indicated on Sale Area Map. Outside Clearcutting Units and construction clearings, insofar as ground conditions permit, products shall not be skidded against reserve trees or groups of reproduction and tractors shall be equipped with a winch to facilitate skidding. B6.421 Rigging. Insofar as practicable, needed rigging shall be slung on stumps or trees desig- nated for cutting.

  • Campaign Contribution Restrictions For all State contracts as defined in C.G.S. § 9-612(g) the authorized signatory to this Contract expressly acknowledges receipt of the State Elections Enforcement Commission’s (“SEEC”) notice advising state contractors of state campaign contribution and solicitation prohibitions, and will inform its principles of the contents of the notice. See Form reproduced and inserted below.

  • Summary of Policy and Prohibitions on Procurement Lobbying Pursuant to State Finance Law §139-j and §139-k, this Contract includes and imposes certain restrictions on communications between OGS and a Vendor during the procurement process. A Vendor is restricted from making contacts from the earliest notice of intent to solicit offers/bids through final award and approval of the Procurement Contract by OGS and, if applicable, the Office of the State Comptroller (“restricted period”) to other than designated staff unless it is a contact that is included among certain statutory exceptions set forth in State Finance Law §139-j(3)(a). Designated staff, as of the date hereof, is identified in Appendix G, Contractor and OGS Information, or as otherwise indicated by OGS. OGS employees are also required to obtain certain information when contacted during the restricted period and make a determination of the responsibility of the Vendor pursuant to these two statutes. Certain findings of non-responsibility can result in rejection for contract award and in the event of two findings within a four-year period; the Vendor is debarred from obtaining governmental Procurement Contracts. Further information about these requirements can be found on the OGS website: xxxx://xxx.xxx.xx.xxx/aboutOgs/regulations/defaultSFL_139j-k.asp.

  • Green Economy/Carbon Footprint a) The Supplier/Service Provider has in its bid provided Transnet with an understanding of the Supplier’s/Service Provider’s position with regard to issues such as waste disposal, recycling and energy conservation.

  • Procurement of Goods Part A: General Goods shall be procured in accordance with the provisions of Section I of the "Guidelines for Procurement under IBRD Loans and XXX Credits" published by the Bank in January 1995 and revised in January 1996 (the Guidelines) and the following provisions of this Section, as applicable. Part B: International Competitive Bidding

  • Bus Drivers A. The Board agrees to pay bus drivers their regular rate per hour for driving in excess of four (4) hours per day on their regular route. The Board agrees to pay bus drivers their regular rate while transporting students on another regular route during an emergency situation. B. The Board agrees to pay bus drivers $15.00 per hour for field trips. Field trips will be paid from the point where students are picked up to the point students are returned or the point when the driver returns to the pick-up location. C. The terms "field trips," "special trips," and "extra trips" shall henceforth be known as field trips. All non-walking field trips which are sponsored by the District, have been approved by the Superintendent, and are accompanied by an advisor/teacher shall be offered to regular drivers before they are offered to substitutes. Dropped trips or trips that arise within twenty-four (24) hours of the scheduled departure time can be filled with the first available driver. D. Each bus driver shall be paid for all time that is spent on their bus including deadhead, breakdown, maintenance time, layover time, and random drug and alcohol testing. E. All drivers may take their regularly assigned bus on short trips, however, longer trips shall be assigned at the discretion of the Transportation Department. F. The Board agrees to pay the cost up to thirty-five dollars ($35.00) for costs incurred to any bus driver for physical, eye tests, or abstracts. G. At the beginning of each new school year, field trips shall be offered on a rotating basis from a driver rotation list, beginning with the most senior driver on the list. A bus driver who cancels a trip (non-emergency cancellation as determined by the supervisor) with less than forty-eight (48) hours notice shall miss their turn on the next two trip rotations. Drivers may elect to remove themselves from consideration for extra trips. If removed, drivers will remain so for the designated period of time that trips are bid or they may elect to remove themselves for the entire school year. H. The Board agrees to supply each bus with a broom and window cleaner, for the proper inside and outside cleaning of the bus. I. Mid-day preschool routes shall be offered, bid, and paid as part of drivers’ regular routes. J. All bus routes shall be bid with the most senior driver appointed, providing it is not excessive cost to the Board. K. If a driver takes a field trip he/she will only be deducted the actual morning or evening time from regular route. L. Nine (9) or more students shall be considered a field trip to be transported in a van, mini bus or regular bus, excluding trips by the multiple impaired students, History Day, Science Olympiad, Mock Trial, Vision Unit, commercial buses sponsored by a non- Board entity for football state playoffs, and all other regional and State sports events. M. The Board shall make available to all bus drivers a copy of the State Manual to assist drivers in passing the required written examination. N. The Board shall provide inservice education for all regular drivers employed the effective date of this Agreement to assist drivers in passing the required written examination. O. All bus drivers shall be required to meet all licensing requirements of the State of Ohio to be employed or to remain in the employment of the District. P. All bus drivers shall pass any drug testing requirements established by the Ohio Department of Education, Ohio State Laws, and/or Federal Law governing the commercial licensing of all bus drivers. The cost of said required testing shall be borne by the Board. Q. The Board shall reimburse up to $44.75, once every (4) years, the cost of renewal of the Commercial Driver's License fee, upon submission of a fee receipt. R. The drivers who were grandfathered to drive their buses to and from home on their current routes as of 2001-2002 will remain grandfathered as long as they are drivers for the District, and remain on the same routes. All new drivers shall be subject to the approval of the Transportation Supervisor and Superintendent on taking buses home. (See paragraph J.) In the event a bus driver authorized to take his/her bus home, including the grandfathered drivers, moves from his/her present residence, the Transportation Supervisor and Superintendent shall determine whether the driver will be permitted to continue to drive his/her bus home. (See paragraph J.) S. Bus drivers who are required to plug bus heaters in at their residences shall be paid $1.50 per plug-in. T. The Board will pay for the cost of mandatory training to meet certification requirements.

  • STUDENT DISCIPLINE AND TEACHER PROTECTION A. The Board recognizes its responsibility to give all reasonable support and assistance to teachers with respect to the maintenance of control and discipline in the classroom. Whenever it appears that a particular pupil requires the attention of special counselors, social workers, law enforcement personnel, physicians, or other professional persons, the principal shall be notified. The Board feels that the teacher and the specialists indicated above should work together to improve the case. B. It is recognized that discipline problems are less likely to occur in classes where a high level of student interest is maintained. It is likewise recognized that when discipline problems occur, they may most constructively be dealt with by encouragement, praise and emphasis upon a child’s desirable characteristics. A teacher may use such force as is necessary, according to the law, to protect himself/herself from attack or to prevent injury to another student. C. A teacher may ask the principal to exclude a pupil from class when the grossness of the offense, the persistence of the misbehavior, or the disruptive effect of the violation makes the continued presence of the student in the classroom intolerable. In such cases, the teacher will furnish the principal, as promptly as his/her teaching obligations will allow, full particulars of the incident in writing. D. Procedure for suspension of students from school shall be distributed to students and teachers each year. E. Any case of assault upon a teacher while on duty should be promptly reported to the Board or its designated representative. The Board will provide legal counsel to advise the teacher of his/her rights and obligations with respect to such assault and shall promptly render all reasonable assistance to the teacher in connection with handling of the incident by law enforcement and judicial authorities. F. If any teacher is complained against or sued as a result of any action taken by the teacher while in pursuit of his/her employment, the Board may provide legal counsel and render all necessary assistance to the teacher in his/her defense. G. Time lost by a teacher in connection with any incident mentioned in this Article shall not be charged against the teacher. X. The Board will reimburse teachers for any loss, damages or destruction of clothing or personal property of the teacher while on duty in the school or on school premises in those cases where the school could have reasonably prevented the loss. I. No action shall be taken upon any complaint by a parent of the student directed toward the teacher nor shall any notice thereof be included in said teacher’s personnel file unless such matter is promptly reported in writing to the teacher concerned. J. Teachers shall be expected to exercise reasonable care with respect to the safety of pupils and property, but shall not be individually liable, except in the case of gross neglect of duty, for any damage or loss to person or property.

  • PROCUREMENT LOBBYING To the extent this agreement is a "procurement contract" as defined by State Finance Law Sections 139-j and 139-k, by signing this agreement the contractor certifies and affirms that all disclosures made in accordance with State Finance Law Sections 139-j and 139-k are complete, true and accurate. In the event such certification is found to be intentionally false or intentionally incomplete, the State may terminate the agreement by providing written notification to the Contractor in accordance with the terms of the agreement.

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