Common use of Commencement of Construction; First Users Clause in Contracts

Commencement of Construction; First Users. The Borrower hereby represents that the Borrower will not requisition any amounts from the proceeds of the Bonds to pay costs incurred before the date of issuance of the Bonds and paid more than 60 days prior to the date of "official action" of the Issuer within the meaning of Section 142 of the Code, which took place on May 13, 1997. No person, firm or corporation who was a "substantial user" of the Project (within the meaning described in such term under Section 144(a) of the Code) before the date of issuance of the Bonds and who was or will be a "substantial user" of the Project following its being placed in service, has received or will receive, directly or indirectly, any proceeds from the issuance and sale of the Bonds.

Appears in 1 contract

Samples: Loan Agreement (Flanders Corp)

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Commencement of Construction; First Users. The Borrower hereby represents that the Borrower will not requisition any amounts from the proceeds of the Bonds to pay costs incurred before the date of issuance of the Bonds and paid more than 60 days prior to the date of "official action" of the Issuer within the meaning of Section 142 of the Code, which took place on May 13August 17, 19971999. No person, firm or corporation who was a "substantial user" of the Project (within the meaning described in such term under Section 144(a) of the Code) before the date of issuance of the Bonds and who was or will be a "substantial user" of the Project following its being placed in service, has received or will receive, directly or indirectly, any proceeds from the issuance and sale of the Bonds.

Appears in 1 contract

Samples: Loan Agreement (Flanders Corp)

Commencement of Construction; First Users. The Borrower hereby represents that the Borrower will not requisition any amounts from the proceeds Proceeds of the Bonds to pay costs incurred before the date of issuance of the Bonds and paid more than 60 days prior to the date of "official action" of the Issuer within the meaning of Section 142 of the Code, which took place on May 13September 5, 19972006. No person, firm or corporation who was a "substantial user" of the Project (within the meaning described as defined in such term under Section 144(a) of the Code) before the date of issuance of the Bonds and who was or will be a "substantial user" of the Project following its being placed in service, has received or will receive, directly or indirectly, any proceeds Proceeds from the issuance and sale of the Bonds.

Appears in 1 contract

Samples: Loan Agreement (Allied Waste Industries Inc)

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Commencement of Construction; First Users. The Borrower Lessee hereby represents that the Borrower Lessee will not requisition any amounts from the proceeds of the Bonds to pay costs incurred before the date of issuance of the Bonds and paid more than 60 days prior to the date of "official actionintent" of the Issuer within the meaning of Section 142 150 of the Code, which took place on May 13, 19972003. No person, firm or corporation who was a "substantial user" of the Project (within the meaning described in such term under Section 144(a) of the Code) before the date of issuance of the Bonds and who was or will be a "substantial user" of the Project following its being placed in service, has received or will receive, directly or indirectly, any proceeds from the issuance and sale of the Bonds.

Appears in 1 contract

Samples: Lease Agreement (International Absorbents Inc)

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