Common use of Bank Qualified Clause in Contracts

Bank Qualified. The Township of Xxxxxxxxxx School District Board of Education is a Type II school district. The district does not intend to issue in excess of ten million dollars in aggregate debt this calendar year. Interest income from this lease purchase will be considered "bank qualified." This transaction may be assigned by the lessor. Documentation: Documentation for this transaction supplied by the successful Respondent must be acceptable to the Township of Xxxxxxxxxx Board of Education and their counsel.

Bank Qualified. The Xxxxxxx Township of Xxxxxxxxxx School District Board of Education is a Type II school district. The district does not intend to issue in excess of ten million dollars in aggregate debt this calendar year. Interest income from this lease purchase will be considered "bank qualified." This transaction may be assigned by the lessor. Documentation: Documentation for this transaction supplied by the successful Respondent must be acceptable to the Xxxxxxx Township of Xxxxxxxxxx Board of Education and their counsel.