Common use of Composite Issues Clause in Contracts

Composite Issues. The Borrower hereby represents and warrants for the benefit of the Issuer, the Trustee and the registered owners of the Bonds that: (a) During the period beginning 15 days prior to the sale date of the Bonds and ending 15 days thereafter none of the Borrower, any other Principal User of the Facilities or any Related Person thereto sold, guaranteed, arranged, participated in, assisted with, borrowed the proceeds of, or leased facilities financed by obligations issued under Section 103 of the 1954 Code or Section 103 of the Code by any state or local governmental unit or any constituted authority empowered to issue obligations by or on behalf of any state or local governmental unit. (b) During the period commencing on the Date of Issuance and ending 15 days thereafter, there will be no obligations sold or issued under Section 103 of the 1954 Code or the Code that are guaranteed by the Borrower, any other Principal User of the Facilities or any Related Person or which are issued with the assistance or participation of, or by arrangement with, the Borrower, any other Principal User of the Facilities or any Related Person without the written opinion of Bond Counsel to the effect that the issuance of such obligations will not adversely affect their opinion as to the exclusion from gross income for federal income tax purposes of interest with respect to the Bonds. (c) Other than the Borrower, any other Principal User of the Facilities or any Related Person, no person (or Related Person to such other person) has (i) guaranteed, arranged, participated in, assisted with the issuance of, or paid any portion of the Costs of Issuance of the Bonds or (ii) provided any property or any franchise, trademark or trade name (within the meaning of Section 1253 of the Code) which is to be used in connection with the Facilities.

Composite Issues. The Borrower hereby represents and warrants for the benefit of the IssuerAuthority, the Trustee and the registered owners of the Bonds that: (a) During the period beginning 15 days prior to the sale date of the Bonds and ending 15 days thereafter none of the Borrower, any other Principal User of the Facilities or any Related Person thereto sold, guaranteed, arranged, participated in, assisted with, borrowed the proceeds of, or leased facilities financed by obligations issued under Section 103 of the 1954 Code or Section 103 of the Code by any state or local governmental unit or any constituted authority empowered to issue obligations by or on behalf of any state or local governmental unit. (b) During the period commencing on the Date of Issuance and ending 15 days thereafter, there will be no obligations sold or issued under Section 103 of the 1954 Code or the Code that are guaranteed by the Borrower, any other Principal User of the Facilities or any Related Person or which are issued with the assistance or participation of, or by arrangement with, the Borrower, any other Principal User of the Facilities or any Related Person without the written opinion of Bond Counsel to the effect that the issuance of such obligations will not adversely affect their opinion as to the exclusion from gross income for federal income tax purposes of interest with respect to the Bonds. (c) Other than the Borrower, any other Principal User of the Facilities or any Related Person, no person (or Related Person to such other person) has (i) guaranteed, arranged, participated in, assisted with the issuance of, or paid any portion of the Costs of Issuance of the Bonds or (ii) provided any property or any franchise, trademark or trade name (within the meaning of Section 1253 of the Code) which is to be used in connection with the Facilities.