Common use of Incurring of Debt Clause in Contracts

Incurring of Debt. The Committee may vote to incur debt consistent with the terms and conditions of MGL, Chapter 71, Section 16, as amended. At the time of taking action to incur debt, and except for the incurring of temporary debt in anticipation of revenue, the Committee, by two-thirds (2/3) weighted vote, will choose either the process that appears in MGL, Chapter 71, Section 16 (d) or Section 16 (n), as amended. The default method to incur debt outlined in subsection (d) will be used in the event the choice of (d) or

Incurring of Debt. The Committee may vote to incur debt consistent with the terms and conditions of MGL, Chapter 71, Section 16, as amended. At the time of taking action to incur debt, and except for the incurring of temporary debt in anticipation of revenue, the Committee, by two-thirds (2/3) weighted vote, will choose either the process that appears in MGL, Chapter 71, Section 16 (d) or Section 16 (n), as amended. The default method to incur debt outlined in subsection (d) will be used in the event the choice of (d) oror (n) is not approved by a two-thirds (2/3) weighted vote of the Committee.

Incurring of Debt. The Committee may vote to incur debt consistent with the terms and conditions of MGL, MGL Chapter 71, Section 16, as amended. At the time of taking action to incur debt, and except for the incurring of temporary debt in anticipation of revenue, the Committee, by two-thirds (2/3) weighted vote, will choose either the process that appears in MGL, MGL Chapter 71, Section 16 (d) or Section 16 (n), as amended. The default method to incur debt outlined in subsection (d) will be used in the event the choice of (d) orsubsection