Investments and Use to Comply with the Code Sample Clauses

Investments and Use to Comply with the Code. The City and the Authority each covenants that it will neither make nor instruct the Trustee to make any investment or other use of the proceeds of the Bonds or any other Obligation intended by its terms to be tax-exempt which would cause such Bonds or Obligations to be “arbitrage bonds” as that term is defined in Section 148(a) of the Code, and all applicable regulations promulgated with respect thereto and that it will comply with the requirements of the Code and applicable regulations throughout the term of the Bonds or Obligations so that the interest on the Bonds or Obligations shall be excluded from gross income of the owners thereof for federal income tax purposes. The City covenants that it will not use or permit the use of the Leased Premises in such a manner as would result, or allow the use of the Leased Premises by any entity whose use thereof would result, in the loss of the exclusion of interest on the Bonds or any other Obligation intended by its terms to be tax-exempt from gross income of the owners thereof for federal tax purposes. The City further covenants that it will furnish the Authority with any information required by the Authority in order to calculate the amount of rebate payable to the United States Treasury under the Code pursuant to Section 7.16 of the Indenture.
Sample 1
AutoNDA by SimpleDocs

Related to Investments and Use to Comply with the Code

  • Failure to comply with directions If the Train Operator fails to comply with any directions given under paragraph 4.1, Network Rail shall be entitled to remove from the Network or Stable any Specified Equipment left on the Network or to instruct a third party to do so and any reasonable costs incurred by Network Rail in taking such steps shall be paid promptly by the Train Operator.

  • Amendment to Comply with Law The Parties acknowledge that state and federal laws and regulations relating to data security and privacy are rapidly evolving and that amendment of this Agreement may be required to provide procedures to ensure compliance with such developments.

  • Compliance with the Law The Parties agree to comply fully with all applicable federal, state, and local statutes, ordinances, rules, and regulations applicable to their entity in connection with the programs contemplated under this Agreement.

  • Compliance with the Communications Assistance Law Enforcement Act of 1994

  • Comply with Laws It will comply in all material respects with all applicable laws and orders to which it may be subject if failure so to comply would materially impair its ability to perform its obligations under this Agreement or any Credit Support Document to which it is a party.

  • Consistency with Federal Laws and Regulations This Agreement shall incorporate by reference Section 22.9 of the CAISO Tariff as if the references to the CAISO Tariff were referring to this Agreement.

  • COMPLIANCE WITH FEDERAL LAWS AND REGULATIONS Contractor, to the extent applicable to this Agreement, shall comply with the following Federal laws and regulations as set forth in 24 CFR §§570.600-612:

  • COMPLIANCE WITH THE ACT All matters related to the operations of the Company not specifically addressed herein must be addressed in accordance with the Act. The Company must comply with all other provisions of the Act in order to stay compliant with the law.

  • Work Does Not Comply with Contract If the Engineer submits work that does not comply with the terms of this contract, the State shall instruct the Engineer to make such revision as is necessary to bring the work into compliance with the contract. No additional compensation shall be paid for this work.

  • COMPLIANCE WITH THE CONTRACT WORK HOURS AND SAFETY STANDARDS ACT (1) Overtime requirements. No contractor or subcontractor contracting for any part of the contract work which may require or involve the employment of laborers or mechanics shall require or permit any such laborer or mechanic in any workweek in which he or she is employed on such work to work in excess of forty hours in such workweek unless such laborer or mechanic receives compensation at a rate not less than one and one-half times the basic rate of pay for all hours worked in excess of forty hours in such workweek.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!