LAND ACQUISITION LIMIT AND NO ACQUISITION OF FARMLAND. The Borrower hereby represents and warrants for the benefit of the Issuer, the Trustee and the registered owners of the Bonds that: (a) The amount of Proceeds of the Bonds expended for land will not exceed $364,000, which is not greater than 25% of the Proceeds of the Bonds. (b) No portion of the Proceeds of the Bonds will be used directly or indirectly for the acquisition of land or any interest therein to be used for the purpose of farming.
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Samples: Tax Regulatory Agreement (RBC Bearings INC), Tax Regulatory Agreement (Roller Bearing Co of America Inc)
LAND ACQUISITION LIMIT AND NO ACQUISITION OF FARMLAND. The Borrower hereby represents and warrants for the benefit of the Issuer, the Trustee and the registered owners of the Bonds that:
(a) The amount of Proceeds of the Bonds expended for land will not exceed $364,0000, which is not greater than 25% 25 percent of the Proceeds of the Bonds.
(b) No portion of the Proceeds of the Bonds will be used directly or indirectly for the acquisition of land or any interest therein to be used for the purpose of farming.
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Samples: Tax Regulatory Agreement (Advanced Aerodynamics & Structures Inc/)
LAND ACQUISITION LIMIT AND NO ACQUISITION OF FARMLAND. The Borrower hereby represents and warrants for the benefit of the IssuerAuthority, the Trustee and the registered owners of the Bonds that:
(a) The amount of Proceeds of the Bonds expended for land will not exceed $364,000484,000, which is not greater than 25% of the Proceeds of the Bonds.
(b) No portion of the Proceeds of the Bonds will be used directly or indirectly for the acquisition of land or any interest therein to be used for the purpose of farming.
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