Common use of Covenants and Representations with Respect to Arbitrage Clause in Contracts

Covenants and Representations with Respect to Arbitrage. The Authority, to the extent it has any control over proceeds of the Bonds and subject to the limitations on its liability as provided in this Agreement and in the Indenture, and the Borrower covenant and represent to each other and to and for the benefit of the purchasers and owners of the Bonds from time to time Outstanding that so long as any of the Bonds remain Outstanding, amounts on deposit in any fund in connection with the Bonds, whether or not such amounts were derived from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner which will cause the Bonds to be “arbitrage bonds” within the meaning of Section 148 of the Code, and any lawful regulations promulgated under it, as the same exist on this date, or may from time to time in this Agreement be amended, supplemented or revised. The Borrower also covenants for the benefit of the Bondholders to comply with all of the provisions of the Tax Certificate and Agreement. The Borrower reserves the right, however, to make any investment of such amounts permitted by Illinois law, if, when and to the extent that Section 148 of the Code or regulations promulgated under it shall be repealed or relaxed or shall be held void by final judgment of a court of competent jurisdiction, but only upon receipt of a Favorable Opinion of Bond Counsel with respect to such investment.

Covenants and Representations with Respect to Arbitrage. The AuthorityIssuer, to the extent it has any control over proceeds of the Bonds and subject to solely in reliance upon the limitations on its liability as provided in this Agreement and in the IndentureCompany, and the Borrower covenant Company covenants and represent represents to each other and to and for the benefit of the purchasers and owners of the Bonds from time to time Outstanding and the Beneficial Owners that so long as any of the Bonds remain Outstanding, amounts moneys on deposit in any fund in connection with the Bonds, whether or not such amounts moneys were derived from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner which will cause the Bonds to be “"arbitrage bonds” " within the meaning of Section 148 of the Code, Code and any lawful regulations promulgated under itthereunder, as the same exist on this date, date or may from time to time in this Agreement hereafter be amended, supplemented or revised. The Borrower also covenants Issuer, to the extent it has any control over proceeds of Bonds and solely in reliance on the Company, and the Company covenant for the benefit of the Bondholders owners of the Bonds and the Beneficial Owners to comply with all of the provisions of the Tax Certificate and Agreement. The Borrower Company reserves the right, however, to make any investment of such amounts moneys permitted by Illinois State law, if, when and to the extent that said Section 148 of the Code or regulations promulgated under it thereunder shall be repealed or relaxed or shall be held void by final judgment of a court of competent jurisdiction, but only upon receipt of a Favorable Opinion an opinion of Bond Counsel with respect to such investment.

Covenants and Representations with Respect to Arbitrage. The Authority, to the extent it has any control over proceeds of the Bonds and subject to the limitations on its liability as provided in this Agreement and in the Indenture, and the Borrower Company covenant and represent to each other and to and for the benefit of the purchasers and owners of the Bonds from time to time Outstanding outstanding that so long as any of the Bonds remain Outstandingoutstanding, amounts on deposit in any fund in connection with the Bonds, whether or not such amounts were derived from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner which will cause the Bonds to be “arbitrage bonds” within the meaning of Section 148 of of‌ the Code, and any lawful regulations promulgated under it, as the same exist on this date, or may from time to time in this Agreement be amended, supplemented or revised. The Borrower Company also covenants for the benefit of the Bondholders to comply with all of the provisions of the Tax Certificate and Agreement. The Borrower Company reserves the right, however, to make any investment of such amounts permitted by Illinois law, if, when and to the extent that Section 148 of the Internal Revenue Code of 1986, as amended, or regulations promulgated under it shall be repealed or relaxed or shall be held void by final judgment of a court of competent jurisdiction, but only upon receipt of a Favorable Opinion of Bond Tax Counsel with respect to such investment.

Covenants and Representations with Respect to Arbitrage. The Authority, to the extent it has any control over proceeds of the Bonds and subject to the limitations on its liability as provided in this Agreement and in the Indenture, and the Borrower Company covenant and represent to each other and to and for the benefit of the purchasers and owners of the Bonds from time to time Outstanding outstanding that so long as any of the Bonds remain Outstandingoutstanding, amounts on deposit in any fund in connection with the Bonds, whether or not such amounts were derived from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner which will cause the Bonds to be “arbitrage bonds” within the meaning of Section 148 of the Code, and any lawful regulations promulgated under it, as the same exist on this date, or may from time to time in this Agreement be amended, supplemented or revised. revised.‌ The Borrower Company also covenants for the benefit of the Bondholders to comply with all of the provisions of the Tax Certificate and Agreement. The Borrower Company reserves the right, however, to make any investment of such amounts permitted by Illinois law, if, when and to the extent that Section 148 of the Internal Revenue Code of 1986, as amended, or regulations promulgated under it shall be repealed or relaxed or shall be held void by final judgment of a court of competent jurisdiction, but only upon receipt of a Favorable Opinion of Bond Tax Counsel with respect to such investment.

Covenants and Representations with Respect to Arbitrage. The Authority, to the extent it has any control over proceeds of the Bonds and subject to the limitations on its liability as provided in this Agreement and in the Indenture, and the Borrower Company covenant and represent to each other and to and for the benefit of the purchasers and owners of the Bonds from from‌ time to time Outstanding outstanding that so long as any of the Bonds remain Outstandingoutstanding, amounts on deposit in any fund in connection with the Bonds, whether or not such amounts were derived from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner which will cause the Bonds to be “arbitrage bonds” within the meaning of Section 148 of the Code, and any lawful regulations promulgated under it, as the same exist on this date, or may from time to time in this Agreement be amended, supplemented or revised. The Borrower Company also covenants for the benefit of the Bondholders to comply with all of the provisions of the Tax Certificate and Agreement. The Borrower Company reserves the right, however, to make any investment of such amounts permitted by Illinois law, if, when and to the extent that Section 148 of the Internal Revenue Code of 1986, as amended, or regulations promulgated under it shall be repealed or relaxed or shall be held void by final judgment of a court of competent jurisdiction, but only upon receipt of a Favorable Opinion of Bond Tax Counsel with respect to such investment.

Covenants and Representations with Respect to Arbitrage. The Authority, to the extent it has any control over proceeds of the Bonds and subject to the limitations on its liability as provided in this Agreement and in the Indenture, and the Borrower Company covenant and represent to each other and to and for the benefit of the purchasers and owners of the Bonds from time to time Outstanding outstanding that so long as any of the Bonds remain Outstandingoutstanding, amounts on deposit in any fund in connection with the Bonds, whether or not such amounts were derived derived‌ from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner which will cause the Bonds to be “arbitrage bonds” within the meaning of Section 148 of the Code, and any lawful regulations promulgated under it, as the same exist on this date, or may from time to time in this Agreement be amended, supplemented or revised. The Borrower Company also covenants for the benefit of the Bondholders to comply with all of the provisions of the Tax Certificate and Agreement. The Borrower Company reserves the right, however, to make any investment of such amounts permitted by Illinois law, if, when and to the extent that Section 148 of the Internal Revenue Code of 1986, as amended, or regulations promulgated under it shall be repealed or relaxed or shall be held void by final judgment of a court of competent jurisdiction, but only upon receipt of a Favorable Opinion of Bond Tax Counsel with respect to such investment.

Covenants and Representations with Respect to Arbitrage. The Authority, to the extent it has any control over proceeds of the Bonds and subject to the limitations on its liability as provided in this Agreement and in the Indenture, and the Borrower Company covenant and represent to each other and to and for the benefit of the purchasers and owners of the Bonds from time to time Outstanding outstanding that so long as any of the Bonds remain Outstandingoutstanding, amounts on deposit in any fund in connection with the Bonds, whether or not such amounts were derived from the proceeds of the sale of the Bonds or from any other sources, will not be used in a manner which will cause the Bonds to be “arbitrage bonds” within the meaning of Section 148 of the Code, and any lawful regulations promulgated under it, as the same exist on this date, or may from time to time in this Agreement be amended, supplemented or revised. The Borrower Company also covenants for the benefit of the Bondholders to comply with all of the provisions of the Tax Certificate and Agreement. The Borrower Company reserves the right, however, to make any investment of such amounts permitted by Illinois law, if, when and to the extent that Section 148 of the Internal Revenue Code of 1986, as amended, or regulations promulgated under it shall be repealed or relaxed or shall be held void by final judgment of a court of competent jurisdiction, but only upon receipt of a Favorable Opinion of Bond Tax Counsel with respect to such investment.