Common use of Mandatory Acceleration of Loan Payments; Preservation of Tax Status Clause in Contracts

Mandatory Acceleration of Loan Payments; Preservation of Tax Status. The Company covenants that it will not take any action or omit to take any action required under this Agreement, the Code and the Regulations, as applicable, which act or omission will cause the interest paid on the Bonds to become includable in the gross income of the holders thereof for federal income tax purposes. The payment of the Loan Payments shall be accelerated, in whole or in part, upon the mandatory redemption of the Bonds as provided in Section 9.1(b) of the Indenture. The provisions of this Section 7.2 shall be deemed a separate and independent covenant for the benefit of the holders of the Bonds. Acceleration pursuant to this Section 7.2 shall not limit or discharge any remaining obligations which the Company may have.

Mandatory Acceleration of Loan Payments; Preservation of Tax Status. The Company covenants that it will not take any action or omit to take any action required under this Agreement, the Code and the Regulations, as applicable, which act or omission will cause the interest paid on the Bonds to become includable in the gross income of the holders thereof for federal income tax purposes. The payment of the Loan Payments shall be accelerated, in whole or in part, upon the mandatory redemption of the Bonds as provided in Section 9.1(b10.1(b) of the Indenture. The provisions of this Section 7.2 shall be deemed a separate and independent covenant for the benefit of the holders of the Bonds. Acceleration pursuant to this Section 7.2 shall not limit or discharge any remaining obligations which the Company may have.