Calculation of Rebate Amount. (a) ss. 148(f) of the Code requires the payment to the United States of the Rebate Amount. Except as provided below, the Revenue Fund, the Project Fund, the Costs of Issuance Fund, the Rebate Fund and all other funds or accounts treated as containing Gross Proceeds, are subject to this rebate requirement.
Calculation of Rebate Amount. (a) (S) 148(f) of the Code requires the payment to the United States of the Rebate Amount. Except as provided below, the Revenue Fund, the Project Fund, the Costs of Issuance Fund, the Rebate Fund, the Interest Collateral Account and all other funds or accounts treated as containing Gross Proceeds, are subject to this rebate requirement.
Calculation of Rebate Amount. To meet the rebate requirement of Section 148(f) of the Code, the City agrees, covenants or elects, as applicable:
Calculation of Rebate Amount. Section 148(f) of the Code (formerly Section 103(a)(6) of the 1954 Code) requires the payment to the United States of the excess of the aggregate amount earned on the investment of Gross Proceeds in Nonpurpose Investments over the amount that would have been earned on such investments had the amount so invested been invested at a rate equal to the Yield on the Bonds, together with any income attributable to such excess. Except as provided below, all the funds and accounts established under the Indenture are subject to this requirement. In order to meet the rebate requirements of such Section 148(f), the Company agrees and covenants to take the following actions:
Calculation of Rebate Amount. Section 148(f) of the Code requires the payment/rebate to the United States of the excess of the amount earned on the investment of Gross Proceeds in Nonpurpose Investments over the amount that would have been earned on such investments had the amount so invested been invested at a rate equal to the yield on the Agreement, together with any income attributable to such excess. Except as provided below, all of the funds and accounts established in connection with the Agreement, and all other amounts treated as Gross Proceeds, to the extent funded with proceeds of the Agreement, are subject to this requirement. In order to meet the rebate requirement, the County agrees and covenants that subject to any applicable exceptions described in Sections 5.2 below, the County shall perform, or engage Xxxxxxx Xxxxxxxxx & Xxxx LLP or another nationally-recognized firm to perform, the necessary and appropriate rebate and/or penalty calculations that may be required to be made from time to time with respect to the Agreement, as set forth in Section 148(f) of the Code, to determine the Rebate Amount on each Computation Date.
