Eighteen Month Exception. Notwithstanding the fact that all of the Gross Proceeds of the Local School Bond are spent within eighteen (18) months of the date of issue and no other Gross Proceeds of the Local School Bond are anticipated for the remainder of the term of the issue, if Gross Proceeds of the Local School Bond become available after the end of the initial eighteen-month period, the Locality Rebate Requirement shall be computed with respect to such Gross Proceeds in accordance with the procedure described above.
Appears in 5 contracts
Samples: Proceeds Agreement, Proceeds Agreement, Proceeds Agreement
