Bond Maturity Limitation. The average maturity of the Bonds, as determined pursuant to Section 147(b) of the Code, will not exceed 120% of the average reasonably expected economic life of the property financed with the proceeds of the Bonds, disregarding land.
Appears in 6 contracts
Samples: Loan Agreement (Delmarva Power & Light Co /De/), Exempt Facilities Loan Agreement (PPL Electric Utilities Corp), Exempt Facilities Loan Agreement (Allegheny Energy, Inc)
Bond Maturity Limitation. The average reasonably expected ------------------------ economic life of the property financed with the proceeds of the Bonds, disregarding land, will be at least 84% of the average maturity of the Bonds, as determined pursuant to Section 147(b) of the Code, will not exceed 120% of the average reasonably expected economic life of the property financed with the proceeds of the Bonds, disregarding land.
Appears in 1 contract
Samples: Loan Agreement (Innovative Solutions & Support Inc)
