Common use of General Tax and Arbitrage Covenant Clause in Contracts

General Tax and Arbitrage Covenant. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor covenants that, notwithstanding any other provision of this Lease, it shall not take any action, or fail to take any action, if any such action or failure to take action would adversely affect the exclusion from gross income of interest on the Certificates under Section 103 of the Code. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor shall not, directly or indirectly, use or permit the use of proceeds of the Certificates or the Project, or any portion thereof, by any person other than a governmental unit (as such term is used in Section 141 of the Code), in such manner or to such extent as would result in the loss of exclusion from gross income for federal income tax purposes of interest with respect to the Certificates. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor shall not take any action, or fail to take any action, if any such action or failure to take action would cause the Certificates to be “private activity bonds” within the meaning of Section 141 of the Code. In furtherance thereof, to the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor shall not make any use of the proceeds of the Certificates or the Project, or any portion thereof, or any other funds of the District, that would cause the Certificates to be “private activity bonds” within the meaning of Section 141 of the Code. To that end, so long as any Certificates are outstanding, the Lessor, with respect to such proceeds and the Project and such other funds, to the extent of its control thereof will comply with applicable requirements of the Code and all regulations of the United States Department of the Treasury issued thereunder and under Section 103 of the Code, to the extent such requirements are, at the time, applicable and in effect. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor shall not, directly or indirectly, use or permit the use of any proceeds of any Certificates, or of the Project, or other funds of the District, or take or omit to take any action, that would cause the Certificates to be “arbitrage bonds” within the meaning of Section 148 of the Code. To that end, the Lessor shall comply with all requirements of Section 148 of the Code and all regulations of the United States Department of the Treasury issued thereunder to the extent such requirements are, at the time, in effect and applicable to the Certificates. To the extent that the Lessor may control the proceeds of the Certificates, the Lessor shall not make any use of the proceeds of the Certificates or any other funds of the District, or take or omit to take any other action, that would cause the Certificates to be “federally guaranteed” within the meaning of Section 149(b) of the Code.

General Tax and Arbitrage Covenant. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The District hereby covenants that, notwithstanding any other provision of this Lease, it shall not take any action, or fail to take any action, if any such action or failure to take action would adversely affect the exclusion from gross income of interest on with respect to the Certificates under Section 103 of the Code. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The District shall not, directly or indirectly, use or permit the use of proceeds of the Certificates or the Project, or any portion thereof, by any person other than a governmental unit (as such term is used in Section 141 of the Code), in such manner or to such extent as would result in the loss of exclusion from gross income for federal income tax purposes of interest with respect to the Certificates. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The District shall not take any action, or fail to take any action, if any such action or failure to take action would cause the Certificates to be “private activity bonds” within the meaning of Section 141 of the Code. In , and in furtherance thereof, to the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor shall not make any use of the proceeds of the Certificates or the Project, or any portion thereof, or any other funds of the District, that would cause the Certificates to be “private activity bonds” within the meaning of Section 141 of the Code. To that end, so long as any Certificates are outstanding, the LessorDistrict, with respect to such proceeds and the Project and such other funds, to the extent of its control thereof will comply with applicable requirements of the Code and all regulations of the United States Department of the Treasury issued thereunder and under Section 103 of the Code, to the extent such requirements are, at the time, applicable and in effect. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The District shall not, directly or indirectly, use or permit the use of any proceeds of any Certificates, or of the Project, or other funds of the District, or take or omit to take any action, that would cause the Certificates to be “arbitrage bonds” within the meaning of Section 148 of the Code. To that end, the Lessor District shall comply with all requirements of Section 148 of the Code and all regulations of the United States Department of the Treasury issued thereunder to the extent such requirements are, at the time, in effect and applicable to the Certificates. To the extent that the Lessor may control the proceeds of the Certificates, the Lessor The District shall not make any use of the proceeds of the Certificates or any other funds of the District, or take or omit to take any other action, that would cause the Certificates to be “federally guaranteed” within the meaning of Section 149(b) of the Code.

General Tax and Arbitrage Covenant. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The Lessee hereby covenants that, notwithstanding any other provision of this Lease, it shall not take any action, or fail to take any action, if any such action or failure to take action would adversely affect the exclusion from gross income of the interest on component of the Certificates Rental Payments under Section 103 of the Code. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The Lessee shall not, directly or indirectly, use or permit the use of proceeds of the Certificates or property financed with the ProjectLease, or any portion thereofthereby, by any person other than a governmental unit (as such term is used in Section 141 of the Code), in such manner or to such extent as would result in the loss of exclusion from gross income for federal income tax purposes of the interest with respect to the Certificates. To the extent that the Lessor may control the Project or the proceeds component of the Certificates, the Lessor Rental Payments. The Lessee shall not take any action, or fail to take any action, if any such action or failure to take action would cause the Certificates Rental Payments to be “private activity bonds” within the meaning of Section 141 of the Code. In , and in furtherance thereof, to the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor shall not make any use of the proceeds of property financed with the Certificates or the ProjectLease, or any portion thereof, or any other funds of the DistrictLessee, that would cause the Certificates Lease Payments to be “private activity bonds” within the meaning of Section 141 of the Code. To that end, so long as any Certificates Lease Payments are outstanding, the LessorLessee, with respect to such proceeds and the Project property financed with the Lease and such other funds, to the extent of its control thereof will comply with applicable requirements of the Code and all regulations of the United States Department of the Treasury issued thereunder and under Section 103 of the Code, to the extent such requirements are, at the time, applicable and in effect. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor shall not, directly or indirectly, use or permit the use of any proceeds of any Certificates, or of the Project, or other funds of the District, or take or omit to take any action, that would cause the Certificates to be “arbitrage bonds” within the meaning of Section 148 of the Code. To that end, the Lessor shall comply with all requirements of Section 148 of the Code and all regulations of the United States Department of the Treasury issued thereunder to the extent such requirements are, at the time, applicable and in effect and applicable to effect. The Lessee shall not, directly or indirectly use or permit the Certificates. To the extent that the Lessor may control the proceeds of the Certificates, the Lessor shall not make any use of the proceeds of the Certificates Equipment, or any other funds of the DistrictLessee, or take or omit to take any other action, that would cause the Certificates Rental Payments to be “arbitrage bonds” within the meaning of Section 148 of the Code. To that end, the United States Department of the Treasury issued thereunder to the extent such requirements are, at the time, in effect and applicable to the Rental Payments. The Lessee shall not take or omit to take any action that would cause the Rental Payments to be “federally guaranteed” within the meaning of Section 149(b) of the Code.

General Tax and Arbitrage Covenant. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The City hereby covenants that, notwithstanding any other provision of this Lease, it shall not take any action, or fail to take any action, if any such action or failure to take action would adversely affect the exclusion from gross income of interest on due with respect to the 2003 Certificates, the 2007 Certificates or any Additional Certificates under Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”). To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The City shall not, directly or indirectly, use or permit the use of proceeds of the Certificates Certificates, any Additional Certificates, the Project or the ProjectProperty, or any portion thereof, by any person other than a governmental unit (as such term is used in Section 141 of the Code), in such manner or to such extent as would result in the loss of exclusion from gross income for federal income tax purposes of interest with respect to the Certificates or any Additional Certificates. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The City shall not take any action, or fail to take any action, if any such action or failure to take action would cause the 2003 Certificates, 2007 Certificates or any Additional Certificates to be “private activity bonds” within the meaning of Section 141 of the Code. In , and in furtherance thereof, to the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor shall not make any use of the proceeds of the Certificates 2003 Certificates, 2007 Certificates, any Additional Certificates, the Project or the ProjectProperty, or any portion thereof, or any other funds of the DistrictCity, that would cause the 2003 Certificates, 2007 Certificates or any Additional Certificates to be “private activity bonds” within the meaning of Section 141 of the Code. To that end, so long as any 2003 Certificates, 2007 Certificates or any Additional Certificates are outstanding, the LessorCity, with respect to such proceeds proceeds, the Project and the Project Property and such other funds, to the extent of its control thereof will comply with applicable requirements of the Code and all regulations of the United States Department of the Treasury issued thereunder and under Section 103 of the Code, to the extent such requirements are, at the time, applicable and in effect. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The City shall not, directly or indirectly, use or permit the use of any proceeds of any 2003 Certificates, 2007 Certificates, any Additional Certificates, the Project or of the ProjectProperty, or other funds of the DistrictCity, or take or omit to take any action, that would cause the 2003 Certificates, 2007 Certificates or any Additional Certificates to be “arbitrage bonds” within the meaning of Section 148 of the Code. To that end, the Lessor City shall comply with all requirements of Section 148 of the Code and all regulations of the United States Department of the Treasury issued thereunder to the extent such requirements are, at the time, in effect and applicable to the 2003 Certificates, 2007 Certificates or any Additional Certificates. To the extent that the Lessor may control the proceeds of the Certificates, the Lessor The City shall not make any use of the proceeds of the 2003 Certificates, 2007 Certificates, any Additional Certificates or any other funds of the DistrictCity, or take or omit to take any other action, that would cause the 2003 Certificates, 2007 Certificates or any Additional Certificates to be “federally guaranteed” within the meaning of Section 149(b) of the Code.”

General Tax and Arbitrage Covenant. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The Authority covenants that, notwithstanding any other provision of this Lease, it shall not take any action, or fail to take any action, action if any such action or failure to take action would adversely affect the exclusion from gross income of interest on due with respect to the Certificates or any Additional Certificates under Section 103 of the Code. To the extent that the Lessor Authority may control the Project Property or the proceeds of the Certificates or any Additional Certificates, the Lessor Authority shall not, directly or indirectly, use or permit the use of proceeds of the Certificates, any Additional Certificates or the ProjectProperty, or any portion thereof, by any person other than a governmental unit (as such term is used in Section 141 of the Code), in such manner or to such extent as would result in the loss of exclusion from gross income for federal income tax purposes of interest with respect to the Certificates or any Additional Certificates. To the extent that the Lessor may control the Project or the proceeds of the Certificates, the Lessor The Authority shall not take any action, or fail to take any action, action if any such action or failure to take action would cause the Certificates or any Additional Certificates to be “private activity bonds” within the meaning of Section 141 of the Code. In , and in furtherance thereof, to the extent that the Lessor Authority may control the Project Property or the proceeds of the 2003 Certificates, the Lessor 2007 Certificates or any Additional Certificates, shall not make any use of the proceeds of the Certificates 2003 Certificates, 2007 Certificates, any Additional Certificates, the Project or the ProjectProperty, or any portion thereof, or any other funds of the DistrictCity, that would cause the 2003 Certificates, 2007 Certificates or any Additional Certificates to be “private activity bonds” within the meaning of Section 141 of the Code. To that end, so long as any 2003 Certificates, 2007 Certificates or Additional Certificates are outstanding, to the Lessorextent that the Authority may control the Property or the proceeds of the 2003 Certificates, 2007 Certificates or any Additional Certificates, the Authority, with respect to such proceeds proceeds, the Property and the Project and such other funds, to the extent of its control thereof will comply with applicable requirements of the Code and all regulations of the United States Department of the Treasury issued thereunder and under Section 103 of the Code, to the extent such requirements are, at the time, applicable and in effect. To the extent that the Lessor Authority may control the Project Property or the proceeds of the 2003 Certificates, 2007 Certificates or any Additional Certificates, the Lessor Authority shall not, directly or indirectly, use or permit the use of any proceeds of any 2003 Certificates, 2007 Certificates or any Additional Certificates, or of the ProjectProperty, or other funds of the Districtavailable to it, or take or omit to take any action, that would cause the 2003 Certificates, 2007 Certificates or any Additional Certificates to be “arbitrage bonds” within the meaning of Section 148 of the Code. To that end, to the Lessor extent that the Authority may control the Property or the proceeds of the 2003 Certificates, 2007 Certificates or any Additional Certificates, the Authority shall comply with all requirements of Section 148 of the Code and all regulations of the United States Department of the Treasury issued thereunder to the extent such requirements are, at the time, in effect and applicable to the 2003 Certificates, 2007 Certificates or any Additional Certificates. To the extent that the Lessor Authority may control the proceeds of the 2003 Certificates, 2007 Certificates or any Additional Certificates, the Lessor Authority shall not make any use of the proceeds of the 2003 Certificates, 2007 Certificates or any Additional Certificates or any other funds of the Districtits funds, or take or omit to take any other action, that would cause the 2003 Certificates, 2007 Certificates or any Additional Certificates to be “federally guaranteed” within the meaning of Section 149(b) of the Code.”