Common use of Determination of Taxability Clause in Contracts

Determination of Taxability. (1) Promptly after the occurrence of a Determination of Taxability, the Borrower shall give written notice to the Issuer and Trustee of the Determination of Taxability and the Borrower shall provide to the Trustee in immediately available funds, an amount which when added to the amounts on deposit in the funds, will equal the principal amount of all the Unpaid Bonds plus accrued interest thereon to the Redemption Date, and the Subordinate Bonds shall be redeemed pursuant to Article 3 of the Indenture.

Determination of Taxability. (1) Promptly after the occurrence of a Determination of Taxability, the Borrower Company shall give written notice to the Issuer City and Trustee of the Determination of Taxability and the Borrower Company shall provide to the Trustee in immediately available funds, an amount which when added to the amounts on deposit in the fundsFunds, will equal the principal amount of all the Unpaid Bonds plus accrued interest thereon to the Redemption Dateredemption date, plus a premium equal to eight percent (8.00%) percent of the outstanding Bonds, and the Subordinate Bonds shall be redeemed pursuant to Article 3 III of the Indenture.

Determination of Taxability. (1) Promptly after the occurrence of a Determination of Taxability, the Borrower Company shall give written notice to the Issuer County and Trustee of the Determination of Taxability and the Borrower Company shall provide to the Trustee in immediately available funds, an amount which when added to the amounts on deposit in the fundsFunds, will equal the principal amount of all the Unpaid Bonds plus accrued interest thereon to the Redemption Dateredemption date, plus a premium equal to three percent (3.00%) percent of the outstanding Bonds, and the Subordinate Bonds shall be redeemed pursuant to Article 3 III of the Indenture.

Determination of Taxability. (1) Promptly after the occurrence of a Determination of Taxability, the Borrower shall give written notice to the Issuer and Trustee of the Determination of Taxability and the Borrower shall provide to the Trustee in immediately available funds, an amount which when added to the amounts on deposit in the fundsFunds, will equal the principal amount of all the Unpaid Bonds plus accrued interest thereon to the Redemption Date, and the Subordinate Bonds shall be redeemed pursuant to Article 3 III of the Indenture.