Common use of Arbitrage Rebate Fund Clause in Contracts

Arbitrage Rebate Fund. The Trustee shall deposit to the Arbitrage Rebate Fund any money delivered to it by the Corporation for deposit therein and, notwithstanding any other provisions of this Article V, shall transfer to the Arbitrage Rebate Fund, in accordance with the directions of an Authorized Officer of the Corporation, money on deposit in any other funds or accounts held by the Trustee hereunder at such times and in such amounts as shall be set forth in such directions. DRAFT Money on deposit in the Arbitrage Rebate Fund shall be applied by the Trustee in accordance with the direction of an Authorized Officer of the Corporation to make payments to the Department of the Treasury of the United States of America at such times and in such amounts as the Corporation shall determine to be required by the Code to be rebated to the Department of the Treasury of the United States of America. Money which an Authorized Officer of the Corporation determines to be in excess of the amount required to be so rebated shall be withdrawn and transferred to the Debt Service Reserve Fund in such amount, if any, as may be necessary to make the amount on deposit in such fund equal to the Debt Service Reserve Fund Requirement, if any, and any excess remaining may at the direction of the Corporation either be retained therein or transferred to any other fund or account established pursuant hereto. If and to the extent required by the Code, the Corporation shall periodically, at such times as may be required to comply with the Code, determine the amount required by the Code to be rebated to the Department of the Treasury of the United States of America with respect to Tax Exempt Bonds and (i) transfer or direct the Trustee to transfer from any other of the funds and accounts held hereunder and deposit to the Arbitrage Rebate Fund, such amount as the Corporation shall have determined to be necessary in order to enable it to comply with its obligation to rebate money to the Department of the Treasury of the United States of America with respect to Tax Exempt Bonds and (ii) pay out of the Arbitrage Rebate Fund to the Department of the Treasury of the United States of America the amount, if any, required by the Code to be rebated thereto.

Arbitrage Rebate Fund. The Trustee shall deposit to the Arbitrage Rebate Fund any money delivered to it by the Corporation for deposit therein and, notwithstanding any other provisions of this Article V, shall transfer to the Arbitrage Rebate Fund, in accordance with the directions of an Authorized Officer of the Corporation, money on deposit in any other funds or accounts held by the Trustee hereunder at such times and in such amounts as shall be set forth in such directions. DRAFT Money on deposit in the Arbitrage Rebate Fund shall be applied by the Trustee in accordance with the direction of an Authorized Officer of the Corporation to make payments to the Department of the Treasury of the United States of America at such times and in such amounts as the Corporation shall determine to be required by the Code to be rebated to the Department of the Treasury of the United States of America. Money which an Authorized Officer of the Corporation determines to be in excess of the amount required to be so rebated shall be withdrawn and transferred to the Debt Service Reserve Fund in such amount, if any, as may be necessary to make the amount on deposit in such fund equal to the Debt Service Reserve Fund Requirement, if any, and any excess remaining may at the direction of the Corporation either be retained therein or transferred to any other fund or account established pursuant hereto. If and to the extent required by the Code, the Corporation shall periodically, at such times as may be required to comply with the Code, determine the amount required by the Code to be rebated to the Department of the Treasury of the United States of America with respect to Tax Exempt Bonds and (i) transfer or direct the Trustee to transfer from any other of the funds and accounts held hereunder and deposit to the Arbitrage Rebate Fund, such amount as the Corporation shall have determined to be necessary in order to enable it to comply with its obligation to rebate money to the Department of the Treasury of the United States of America with respect to Tax Exempt Bonds and (ii) pay out of the Arbitrage Rebate Fund to the Department of the Treasury of the United States of America the amount, if any, required by the Code to be rebated thereto.

Arbitrage Rebate Fund. (a) The Trustee shall deposit to the Arbitrage Rebate Fund any money delivered to it shall be maintained by the Corporation for deposit therein and, notwithstanding Trustee as a fund separate from any other provisions of this Article V, shall transfer to fund established and maintained hereunder. Within the Arbitrage Rebate Fund, the Trustee shall maintain such accounts as shall be required by the Airports Authority in accordance order to comply with the directions of an Authorized Officer terms and requirements of the Corporation, Tax Certificate. All money on deposit at any time deposited in any other funds or accounts the Arbitrage Rebate Fund shall be held by the Trustee hereunder at in trust, to the extent required to satisfy the Rebate Requirement (as defined in the Tax Certificate), for payment to the Treasury Department of the United States of America. The Airports Authority or the owner of any Bonds shall not have any rights in or claim to such times and in such money. All amounts as shall be set forth in such directions. DRAFT Money deposited into or on deposit in the Arbitrage Rebate Fund shall be applied governed by this Section 414 and the Tax Certificate (which is incorporated herein by reference). Amounts in the Arbitrage Rebate Fund shall not be pledged to Bondholders. (b) The Trustee shall be deemed conclusively to have complied with this Section 414 and the Tax Certificate if it follows the directions of an Airports Authority Representative, including supplying all necessary written information in the manner provided in the Tax Certificate, and shall have no liability or responsibility for compliance (except as specifically set forth herein or in the Tax Certificate) or to enforce compliance by the Airports Authority with the terms of the Tax Certificate. (c) Upon the written direction of the Airports Authority, the Trustee shall deposit in the Arbitrage Rebate Fund amounts received from the Airports Authority, so that the balance on deposit thereto shall be equal to the Rebate Requirement. Computations of the Rebate Requirement shall be furnished by or on behalf of the Airports Authority in accordance with the direction of an Authorized Officer of the Corporation Tax Certificate. The Trustee shall have no obligation to make payments to the Department of the Treasury of the United States of America at such times and in such rebate any amounts as the Corporation shall determine to be required by the Code to be rebated pursuant to this Section 414, other than from moneys held in the Funds and Accounts created under this Indenture or from other moneys provided to it by the Airports Authority. (d) The Trustee shall invest all amounts held in the Arbitrage Rebate Fund as provided in written directions of the Airports Authority. In issuing such directions, the Airports Authority shall comply with the restrictions and instructions set forth in the Tax Certificate. Moneys from the Arbitrage Rebate Fund may only be applied as provided in this Section 414. (e) Upon receipt of written instructions and certification of the Rebate Requirement from an Airports Authority Representative, the Trustee shall pay the amount of such Rebate Requirement to the Treasury Department of the Treasury of the United States of America. Money which an Authorized Officer , out of amounts in the Corporation determines to be in excess of the amount required to be so rebated shall be withdrawn and transferred to the Debt Service Reserve Fund in such amount, if anyArbitrage Rebate Fund, as may be necessary to make the amount on deposit in such fund equal to the Debt Service Reserve Fund Requirement, if any, and any excess remaining may at the direction of the Corporation either be retained therein or transferred to so directed. Notwithstanding any other fund or account established pursuant hereto. If and to the extent required by the Codeprovisions of this Indenture, the Corporation shall periodically, at such times as may be required obligation to comply with remit the Code, determine the amount required by the Code Rebate Requirement to be rebated to the Department of the Treasury of the United States of America with respect to Tax Exempt Bonds and (i) transfer or direct the Trustee to transfer from any other of the funds and accounts held hereunder and deposit to the Arbitrage Rebate Fund, such amount as the Corporation shall have determined to be necessary in order to enable it to comply with its obligation to rebate money to all other requirements of this Section 414 and the Department Tax Certificate shall survive the defeasance or payment in full of the Treasury of the United States of America with respect to Tax Exempt Bonds and (ii) pay out of the Arbitrage Rebate Fund to the Department of the Treasury of the United States of America the amount, if any, required by the Code to be rebated theretoBonds.

Arbitrage Rebate Fund. The Trustee shall deposit to the Arbitrage Rebate Fund any money delivered to it by the Corporation for deposit therein and, notwithstanding any other provisions of this Article V, shall transfer to the Arbitrage Rebate Fund, in accordance with the written directions of an Authorized Officer of the Corporation, money on deposit in any other funds or accounts held by the Trustee hereunder at such times and in such amounts as shall be set forth in such written directions. DRAFT Money on deposit in the Arbitrage Rebate Fund shall be applied by the Trustee in accordance with the written direction of an Authorized Officer of the Corporation to make payments to the Department of the Treasury of the United States of America at such times and in such amounts as the Corporation shall determine to be required by the Code to be rebated to the Department of the Treasury of the United States of America. Money which an Authorized Officer of the Corporation determines to be in excess of the amount required to be so rebated shall be withdrawn and transferred to the Debt Service Reserve Fund in such amount, if any, as may be necessary to make the amount on deposit in such fund equal to the Debt Service Reserve Fund Requirement, if any, and any excess remaining may at the written direction of the Corporation either be retained therein or transferred to any other fund or account established pursuant hereto. If and to the extent required by the Code, the Corporation shall periodically, at such times as may be required to comply with the Code, determine the amount required by the Code to be rebated to the Department of the Treasury of the United States of America with respect to Tax Exempt Bonds and and (i) transfer transfer, or direct the Trustee to transfer pursuant to a written direction, from any other of the funds and accounts held hereunder and deposit to the Arbitrage Rebate Fund, such amount as the Corporation shall have determined to be necessary in order to enable it to comply with its obligation to rebate money to the Department of the Treasury of the United States of America with respect to Tax Exempt Bonds and (ii) pay out of the Arbitrage Rebate Fund to the Department of the Treasury of the United States of America the amount, if any, required by the Code to be rebated thereto.