Federal Tax Exemption. Affiliate shall obtain and maintain tax-exempt status from the United States Internal Revenue Service under Section 501(c) of the Internal Revenue Code ("IRC") and operate its affairs in accordance with the IRC and State tax laws, including annual filings of IRS Form 990 tax return, and such other tax returns required by the State of its incorporation
Federal Tax Exemption. District will rely upon Affiliate to maintain tax exempt status and file with the IRS as required.
Federal Tax Exemption. Except as set forth in Schedule 8.7(b), each Hospital is exempt from Federal income tax and each Hospital is a “hospital” within the meaning of Section 170(b)(1)(A)(iii) of the Code. LSU is not aware of any proceeding, pending or threatened, or of any existing circumstances, which could reasonably be anticipated to result in the loss or revocation of any of the aforementioned exemptions held by LSU or the imposition of tax liability which would have a Material Adverse Effect on the business and operations of the Hospital.
Federal Tax Exemption. District shall obtain and maintain tax-exempt status from the United States Internal Revenue Service under Section 501(c) of the Internal Revenue Code ("IRC") and operate its affairs in accordance with the IRC and State tax laws, including annual filings of IRS Form 990 tax return, and such other tax returns required by the State of its incorporation.
Federal Tax Exemption. The Issuer covenants that it (i) will take, or require to be taken, all actions that may be required of the Issuer for the interest on the Bonds to be and remain excluded from gross income for federal income tax purposes and (ii) will not take or authorize to be taken any actions that would adversely affect that exclusion under the provisions of the Code.
Federal Tax Exemption. The Issuer will do all things necessary, to the extent permitted by law and at the expense of the Borrower, to maintain the exclusion from gross income from federal income taxation of interest on the Series 1996 A Bonds.
