Arbitrage Certifications. The facts, estimates and expectations recited in Article III of this Tax Agreement are true and accurate as of the Issue Date; and the Corporation believes that the estimates and expectations recited in such Article are reasonable as of the Issue Date. The City, the Bond Trustee, Xxxxxxx & Xxxx, P.C., Bond Counsel, and the Underwriter may rely on such statements and expectations. The Corporation does not expect that the Note proceeds will be used in a manner that would cause the Note to be an “arbitrage bond” within the meaning of Code § 148; and to the best of the Corporation’s knowledge and belief, there are no other facts, estimates or circumstances that would materially change such expectations.
Arbitrage Certifications. Lessee shall be deemed to make the following representations and covenants as of the Commencement Date for each Supplement:
Arbitrage Certifications. The facts, estimates and expectations recited in Article III of this Tax Agreement are true and accurate as of the Issue Date; and the City believes that the estimates and expectations recited in such Article are reasonable as of the Issue Date. The City, the Trustee and Xxxxx Xxxx LLP, Bond Counsel may rely on such statements and expectations. The City does not expect that the Bond proceeds will be used in a manner that would cause any Bond to be an “arbitrage bond” within the meaning of Code § 148; and to the best of the City’s knowledge and belief, there are no other facts, estimates or circumstances that would materially change such expectations.
Arbitrage Certifications. The facts, estimates and expectations recited in Article III of this Tax Agreement are true and accurate as of the Issue Date; and the Institution believes that the estimates and expectations recited in such Article are reasonable as of the Issue Date. The Issuer, the Bond Trustee, Xxxxxxx & Xxxx, P.C., Bond Counsel, and the Purchaser may rely on such statements and expectations. The Institution does not expect that the Bond proceeds will be used in a manner that would cause any Bond to be an “arbitrage bond” within the meaning of Code § 148; and to the best of the Institution’s knowledge and belief, there are no other facts, estimates or circumstances that would materially change such expectations.
Arbitrage Certifications. The Borrower reasonably expects, based on its knowledge, information and belief, and hereby certifies and represents to the Issuer, and the Issuer hereby certifies that it reasonably expects, that the proceeds of the Bonds will not be used in a manner that would cause the Bonds to be classified as "arbitrage bonds" under Section 148 of the Code and regulations prescribed under that Section. The Issuer and the Borrower jointly and severally certify and covenant with all purchasers and owners of the Bonds from time to time outstanding that so long as any of the Bonds remain outstanding moneys on deposit in any fund or account 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 sources, will not be used in a manner which will cause the Bonds to be "arbitrage bonds" within the meaning of the Code, and any lawful regulations promulgated or proposed thereunder; provided that the Issuer will be deemed to have failed to comply with such certification and covenant only if it knows or should have known that a particular use might result in a violation thereof; provided further that the Issuer shall conclusively be deemed to have complied with such certification and covenant to the extent that it has relied upon an opinion of Bond Counsel. (Remainder of page intentionally left blank)
Arbitrage Certifications. The Company reasonably expects, based on its knowledge, information and belief, and hereby certifies and represents to the Issuer, and the Issuer hereby certifies that it reasonably expects, based solely on the certifications and representations of the Company, that the proceeds of the Bonds will not be used in a manner that would cause the Bonds to be classified as "arbitrage bonds" under Section 148 of the Code and regulations prescribed under that Section. The Company certifies and covenants with all purchasers and owners of the Bonds from time to time outstanding that, so long as any of the Bonds remain outstanding, moneys on deposit in any fund or account 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 sources, will not be used in a manner which will cause the Bonds to be "arbitrage bonds" within the meaning of the Code, and any lawful regulations promulgated or proposed thereunder.
Arbitrage Certifications. The Issuer covenants and agrees to take no action that would cause any Bond to be an “arbitrage bond” within the meaning of Section 148 of the Code, as implemented by such proposed, temporary and final Regulations as have been or may hereafter be adopted by the United States Treasury Department thereunder. The Company agrees and covenants that neither the proceeds of the Bonds nor the funds held by the Trustee under the Indenture will be used in such manner as to cause any Bond to be an “arbitrage bond” within the meaning of Section 148 of the Code, as implemented by such proposed, temporary and final Regulations as have been or may hereafter be adopted by the United States Treasury Department thereunder. (The parties hereto recognize that only the Company, subject to the approval of the Credit Provider, can direct the Trustee as to the expenditure of proceeds and investment of funds under the Indenture.) The Company further agrees and covenants not to take any action, including any change in the Prior Project, the result of which would cause or be likely to cause the interest payable with respect to the Bonds not to be excluded from gross income for federal income tax purposes. The Company will comply with the applicable requirements of Section 103 and Part IV of Subchapter B of Chapter 1 of Subtitle A of the Code to the extent necessary to preserve the exclusion of interest on the Bonds from gross income of the Bondholders thereof for federal income tax purposes. The Company shall comply in all respects with the provisions of the Tax Regulatory Agreement.
Arbitrage Certifications. The facts, estimates and expectations recited in Article III, regarding the purpose of the Bonds, the investment and expenditure of Bond proceeds, the Project, the funds and accounts created in the Indenture, the yield on investments, and the computation and payment of arbitrage rebate, are true and accurate as of the Issue Date; and the estimates and expectations recited in such Article are reasonable as of the Issue Date. The Issuer, the Xxxxxxxx Law Firm, LLC, Bond Counsel, and the Purchaser may rely on such statements and expectations. The Borrower does not expect that the Bond proceeds will be used in a manner that would cause any Bond to be an “arbitrage bond” within the meaning of Code § 148, and to the best of the Borrower’s knowledge and belief, there are no other facts, estimates or circumstances that would materially change such expectations.
Arbitrage Certifications
