Arbitrage Yield Sample Clauses

Arbitrage Yield. We have calculated the arbitrage yield with respect to the Note Participations to be % in accordance with the following instructions provided by Special Counsel. Special Counsel has advised that yield on the Note Participations is the discount rate that, when used in computing the present value as of the issue date of all unconditionally payable payments of principal and interest on the Note Participations, produces an amount equal to the present value, using the same discount rate, of the aggregate issue price of bonds of the issue as of the issue date; provided that, the Issuer is assumed to exercise or not exercise an option or combination of options (including an optional redemption provision) in a manner that minimizes yield on the debt instrument and a holder is assumed to exercise or not exercise an option or combination of options in a manner that maximizes yield on a debt instrument. Special Counsel has advised that the issue price is determined based on the prices of each maturity of the Note Participations listed in Schedule I as described in paragraph 2 above, assuming that the issue price for each maturity of the Note Participations identified as “Undersold Note Participations” is the issue price for each such maturity as set forth in Schedule I. To the extent that we provided the Issuers and Special Counsel with certain computations that show a bond yield, issue price, weighted average maturity and certain other information with respect to the Note Participations, these computations are based on our understanding of directions that we have received from Special Counsel regarding Special Counsel’s interpretation of the applicable law. We express no view regarding the legal sufficiency of any such computations or the correctness of any legal interpretation made by Special Counsel.
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Arbitrage Yield. Using industry standard software, we have calculated the arbitrage yield on the Series 2022 Certificates to be not greater than %.
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Arbitrage Yield. The yield on the Agreement has been calculated by Xxxxx Xxxxxxx & Co (the “Municipal Advisor”) to be 3.1305724872% using the economic accrual method required by Treas. Regs. §1.148-4(a). The Agreement is a fixed yield issue, and the Agreement yield will not be affected by subsequent unexpected events, unless the County enters into a “qualified hedge” meeting the requirements of Treas. Regs. §1.148-4(h) or into any transaction transferring, waiving or modifying any right that is part of the terms of the Agreement. The County will consult with Bond Counsel prior to entering into any of the foregoing transactions.
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