Arbitrage Rebate Services Sample Clauses

Arbitrage Rebate Services. Arbitrage rebate services encompasses those activities associated with computing the rebate liability (if any) related to the bonds. The computations will be prepared as described in Section 148 (f) (2) of the Internal Revenue Code of 1986, as amended. The specific activities and tasks associated with the determination of arbitrage rebate liability include the following:

Arbitrage Rebate Services. Annual arbitrage rebate is provided for a cost of $1,250 per year plus an initial setup fee of $500. Calculations provided each five years in-lieu of annual calculations are provided for a cost of $4,000 plus an initial setup fee of $500.

Arbitrage Rebate Services a. The Client desires to have the Adviser perform arbitrage rebate calculation services in connection with the Adviser’s management of proceeds of tax- exempt bonds (the “Bonds”) under this Agreement (such services shall be provided without additional cost with respect to a series of the bonds only if 100% of the proceeds less amounts immediately payable such as legal and issuance costs and reimbursements for expenses previously incurred such as engineering and land acquisition costs of such series of bonds is invested pursuant to this Agreement; such services will be provided with additional fee with respect to a series of bonds if only part of the proceeds of such bonds is invested pursuant to this Agreement). b. The Adviser shall maintain appropriate records of all of its activities hereunder as may be required by the Internal Revenue Code or applicable U.S. Treasury regulations (collectively the “Code”) with regard to proceeds of the tax-exempt Bonds invested pursuant to this Agreement. The Advisor will calculate the amount of rebate liability with respect to the Bonds as of the end of each bond year (or other appropriate period) and as of the final maturity or redemption of the Bonds (each such date referred to herein as a “Calculation Date”) for as long as the Advisor is retained under this Agreement, applying regulations of the United States Department of the Treasury in effect on such Calculation Date. The Adviser will provide the following services: (i) calculation of the amount of rebate liability with respect to the Bonds as of each Calculation Date, and (ii) delivery of schedules reflecting such rebate liability calculation and the assumptions involved. c. The Client undertakes to provide or cause to be provided to the Advisor all relevant data, as requested from time to time, with respect to each Calculation Date within 15 days after each such date and the Client agrees to cooperate with all reasonable requests in connection herewith. This information will be necessary in order to identify the amount of “gross proceeds” (as that term is used in the Code) of the Bonds subject to the rebate requirement, invest income thereon and applicable yields on the Bonds and on such investments in order to calculate the rebate liability of the Client with respect to the Bonds as of the Calculation Date. The Advisor is not being engaged to duplicate work performed by any prior rebate calculation agent, to independently determine whether there were “prohibite...