Common use of Limit on Amount of Bonds, Reports Clause in Contracts

Limit on Amount of Bonds, Reports. The Company represents that on the date of the issuance of the Bonds (i) obligations were not assumed, expenditures were not made and outstanding obligations did not exist that will cause the "aggregate face amount" of the Bonds as computed under the provisions of Section 144(a) and related sections of the Code to exceed $10,000,000, and (ii) outstanding obligations did not exist that would cause the "aggregate face amount" of the Bonds allocated to any "test-period beneficiary," as defined in Section 144(a)(10) of the Code, when increased by such obligations as provided in Section 144(a)(10) of the Code, to exceed $40,000,000. During the three-year period beginning on the date of the issuance of the Bonds (or, in the case of clause (ii) below, the date the Project is placed in service, unless the Company provides to the Trustee an Opinion of Bond Counsel that such restriction is no longer applicable), the Company shall not make any expenditure, assume any obligation, permit the use of the Project by any person or take or permit other action that would cause the "aggregate face amount" of the Bonds as computed under the provisions of Section 144(a) and related sections of the Code (i) to exceed $10,000,000 or such other maximum dollar amount then permitted by the Code, or (ii) allocated to any "test-period beneficiary", when increased by such obligations as provided in Section 144(a)(10) of the Code, to exceed $40,000,000, and shall on the anniversary date of the issuance of the Bonds until the third anniversary date of the issuance of the Bonds or the date on which the Project is placed into service, whichever is later, file a report with the Trustee setting forth all capital expenditures and bond issues used in calculating such limits under Section 144(a) of the Code since the last report received by the Trustee. The Company and the Issuer shall file any reports or statements and take any other action as may be required from time to time with respect to the qualification of the Bonds as qualified small issue bonds within the meaning of Section 144(a) of the Code.

Limit on Amount of Bonds, Reports. The Company represents that on the date of the issuance of the Bonds (i) obligations were not assumed, expenditures were not made and outstanding obligations did not exist that will cause the "aggregate face amount" of the Bonds as computed under the provisions of Section 144(a) and related sections of the Code to exceed $10,000,000, and (ii) outstanding obligations did not exist that would cause the "aggregate face amount" of the Bonds allocated to any "test-period beneficiary," as defined in Section 144(a)(10) of the Code, when increased by such obligations as provided in Section 144(a)(10) of the Code, to exceed $40,000,000. During the three-three- year period beginning on the date of the issuance of the Bonds (or, in the case of clause (ii) below, the date the Project is placed in service, unless the Company provides to the Trustee an Opinion of Bond Counsel that such restriction is no longer applicable), the Company shall not make any expenditure, assume any obligation, permit the use of the Project by any person or take or permit other action that would cause the "aggregate face amount" of the Bonds as computed under the provisions of Section 144(a) and related sections of the Code (i) to exceed $10,000,000 or such other maximum dollar amount then permitted by the Code, or (ii) allocated to any "test-period beneficiary", when increased by such obligations as provided in Section 144(a)(10) of the Code, to exceed $40,000,000, and shall on the anniversary date of the issuance of the Bonds until the third anniversary date of the issuance of the Bonds or the date on which the Project is placed into service, whichever is later, file a report with the Trustee setting forth all capital expenditures and bond issues used in calculating such limits under Section 144(a) of the Code since the last report received by the Trustee. The Company and the Issuer shall file any reports or statements and take any other action as may be required from time to time with respect to the qualification of the Bonds as qualified small issue bonds within the meaning of Section 144(a) of the Code.

Limit on Amount of Bonds, Reports. The Company represents that on the date of the issuance of the Bonds (i) obligations were not assumed, expenditures were not made and outstanding obligations did not exist that will cause the "aggregate face amount" of the Bonds as computed under the provisions of Section 144(a) and related sections of the Code to exceed $10,000,000, and (ii) outstanding obligations did not exist that would cause the "aggregate face amount" of the Bonds allocated to any "test-period beneficiary," as defined in Section 144(a)(10) of the Code, when increased by such obligations as provided in Section 144(a)(10) of the Code, to exceed $40,000,000. During the three-year period beginning on the date of the issuance of the Bonds (or, in the case of clause (iiB) below, the date the Project is placed in service, unless the Company provides to the Trustee an Opinion of Bond Counsel that such restriction is no longer applicable), the Company shall not make any expenditure, assume any obligation, permit the use of the Project by any person or take or permit other action that would cause the "aggregate face amount" of the Bonds as computed under the provisions of Section 144(a) and related sections of the Code (iA) to exceed $10,000,000 or such other maximum dollar amount then permitted by the Code, or (iiB) allocated to any "test-period beneficiary", when increased by such obligations as provided in Section 144(a)(10) of the Code, to exceed $40,000,000, and shall on the anniversary date of the issuance of the Bonds until the third anniversary date of the issuance of the Bonds or the date on which the Project is placed into service, whichever is later, file a report with the Trustee setting forth all capital expenditures and bond issues used in calculating such limits under Section 144(a) of the Code since the last report received by the Trustee, accompanied by a certificate of the Company Representative certifying compliance with the requirements of this Section. The Company and the Issuer shall file any reports or statements and take any other action as may be required from time to time with respect to the qualification of the Bonds as qualified small issue bonds within the meaning of Section 144(a) of the Code.

Limit on Amount of Bonds, Reports. The Company represents that on the date of the issuance of the Bonds (i) obligations were not assumed, expenditures were not made and outstanding obligations did not exist that will cause the "aggregate face amount" of the Bonds as computed under the provisions of Section 144(a(a) and related sections of the Code to exceed $10,000,000, and (ii) outstanding obligations did not exist that would cause the "aggregate face amount" of the Bonds allocated to any "test-test period beneficiary," as defined in Section 144(a)(10) of the Code, when increased by such obligations as provided in Section 144(a)(10) of the Code, to exceed $40,000,000. During the three-year period beginning on the date of the issuance of the Bonds (or, in the case of clause (ii) below, the date the Project is placed in service, unless the Company provides to the Trustee an Opinion of Bond Counsel that such restriction is no longer applicable), the Company shall not make any expenditure, assume any obligation, permit the use of the Project by any person or take or permit other action that would cause the "aggregate face amount" of the Bonds as computed under the provisions of Section 144(a) and related sections of the Code (i) to exceed $10,000,000 or such other maximum dollar amount then permitted by the Code, or (ii) allocated to any "test-test period beneficiary", ," when increased by such obligations as provided in Section 144(a)(10) of the Code, to exceed $40,000,000, and shall on the anniversary date of the issuance of the Bonds until the third anniversary date of the issuance of the Bonds or the date on which the Project is placed into service, whichever is later, file a report with the Trustee setting forth all capital expenditures and bond issues used in calculating such limits under Section 144(a) of the Code since the last report received by the Trustee. The Company and the Issuer shall file any reports or statements and take any other action as may be required from time to time with respect to the qualification of the Bonds as qualified small issue bonds within the meaning of Section 144(a) of the Code.