Common use of Determination of Taxability Clause in Contracts

Determination of Taxability. (i) Solely with respect to Tax-Exempt Notes, in the event a Determination of Taxability occurs, to the extent not payable to each Noteholder (or to the Purchaser for the period that it was the Noteholder of any of the Tax-Exempt Notes) under the terms of the Trust Agreement and the Tax-Exempt Notes, the County hereby agrees to pay to each Noteholder (or, if applicable, the Purchaser) on demand therefor (1) an amount equal to the difference between (A) the amount of interest that would have been paid to such Noteholder (or, if applicable, the Purchaser) on the Tax-Exempt Notes during the period for which interest on the Tax-Exempt Notes is included in the gross income of such Noteholder (or, if applicable, the Purchaser) if the Tax-Exempt Notes had borne interest at the Taxable Rate, beginning on the Taxable Date (the “Taxable Period”), and (B) the amount of interest actually paid to the Noteholder (or, if applicable, the Purchaser) during the Taxable Period, and (2) an amount equal to any interest, penalties or charges owed by such Noteholder (or, if applicable, the Purchaser) as a result of interest on the Tax-Exempt Notes becoming included in the gross income of such Noteholder (or, if applicable, the Purchaser), together with any and all attorneys’ fees, court costs, or other out-of-pocket costs incurred by such Noteholder (or, if applicable, the Purchaser) in connection therewith;

Determination of Taxability. (i) Solely with respect to Tax-Exempt Notes, in In the event a Determination of Taxability occurs, to the extent not payable to each Noteholder Bondholder (or to the Purchaser for the period that it was the Noteholder Bondholder of any of the Tax-Exempt NotesBonds) under the terms of the Trust Agreement and the Tax-Exempt NotesBonds, the County and/or the Authority, as applicable, hereby agrees to pay as Additional Payments to the Authority or each Noteholder Bondholder (or, if applicable, the Purchaser) ), as required pursuant to the terms of the Facilities Lease, on demand therefor (1) an amount equal to the difference between (A) the amount of interest that would have been paid to such Noteholder Bondholder (or, if applicable, the Purchaser) on the Tax-Exempt Notes Bonds during the period for which interest on the Tax-Exempt Notes Bonds is included in the gross income of such Noteholder Bondholder (or, if applicable, the Purchaser) if the Tax-Exempt Notes Bonds had borne interest at the Taxable Rate, beginning on the Taxable Date (the “Taxable Period”), and (B) the amount of interest actually paid to the Noteholder Bondholder (or, if applicable, the Purchaser) during the Taxable Period, and (2) an amount equal to any interest, penalties or charges owed by such Noteholder Bondholder (or, if applicable, the Purchaser) as a result of interest on the Tax-Exempt Notes Bonds becoming included in the gross income of such Noteholder Bondholder (or, if applicable, the Purchaser), together with any and all attorneys’ fees, court costs, or other out-of-pocket costs incurred by such Noteholder Bondholder (or, if applicable, the Purchaser) in connection therewith;

Determination of Taxability. (i) Solely with respect to Tax-Exempt Notes, in In the event a Determination of Taxability occurs, to the extent not payable to each Noteholder (or to the Purchaser for the period that it was the Noteholder of any of the Tax-Exempt Notes) under the terms of the Trust Agreement and the Tax-Exempt Notes, the County City hereby agrees to pay to each Noteholder the Registered Owners (orand, if applicable, the Purchasereach Participant) on demand therefor (1A) an amount equal to the difference between (A1) the amount of interest that would have been paid to such Noteholder the Registered Owners (orand, if applicable, the Purchasereach Participant) on the Tax-Tax Exempt Notes during the period for which interest on the Tax-Tax Exempt Notes is included in the gross income of such Noteholder the Registered Owners (orand, if applicable, the Purchasereach Participant) if the Tax-Tax Exempt Notes had borne interest at the Taxable Rate, beginning on the Taxable Date (the “Taxable Period”), and (B2) the amount of interest actually paid to the Noteholder Registered Owners (orand, if applicable, the Purchasereach Participant) during the Taxable Period, and (2B) an amount equal to any interest, penalties or charges owed by such Noteholder the Registered Owners (orand, if applicable, the Purchasereach Participant) as a result of interest on the Tax-Tax Exempt Notes becoming included in the gross income of such Noteholder the Registered Owner (orand, if applicable, the Purchasereach Participant), together with any and all reasonable attorneys’ fees, court costs, or other out-of-pocket costs incurred by such Noteholder the Registered Owners (orand, if applicable, the Purchasereach Participant) in connection therewith;

Determination of Taxability. (i) Solely with respect to Tax-Exempt Notes, in In the event a Determination of Taxability occurs, to the extent not payable to each Noteholder Bondholder (or to the Purchaser for the period that it was the Noteholder Bondholder of any of the Tax-Exempt NotesSeries 2008C Bonds) under the terms of the Trust Agreement Indenture and the Tax-Exempt NotesSeries 2008C Bonds, the County Authority hereby agrees to pay to each Noteholder Bondholder (or, if applicable, the Purchaser) on demand therefor (1) an amount equal to the difference between (A) the amount of interest that would have been paid to such Noteholder Bondholder (or, if applicable, the Purchaser) on the Tax-Exempt Notes during Series 2008C Bonds had the period for which interest on the Tax-Exempt Notes is included Series 2008C Bonds (or the taxable portion of the interest, in the gross income of such Noteholder (or, if applicable, event the Purchaserinterest on the Series 2008C Bonds is determined to be taxable only in part) if the Tax-Exempt Notes had borne interest been calculated at the Taxable Rate, beginning on the Taxable Date (the “Taxable Period”), Rate and (B) the amount of interest actually paid to the Noteholder Bondholder (or, if applicable, the Purchaser) during the Taxable Period. The “Taxable Period” is the period beginning on the Taxable Date and continuing to and including the date (if any) on which the interest (or the applicable portion of the interest, in the event the interest on the Bonds is determined to be subject to taxation only in part) once again becomes excludable from the gross income of the owners thereof for federal income tax purposes; and (2) an amount equal to any interest, penalties or charges owed by such Noteholder Bondholder (or, if applicable, the Purchaser) as a result of interest on the Tax-Exempt Notes Series 2008C Bonds becoming included in the gross income of such Noteholder Bondholder (or, if applicable, the Purchaser), together with any and all attorneys’ fees, court costs, or other out-of-pocket costs incurred by such Noteholder Bondholder (or, if applicable, the Purchaser) in connection therewith;