No Arbitrage Covenant Clause Samples
No Arbitrage Covenant. The Qualified Agency will not, at any time prior to the final maturity of any Note, direct or permit the investment (or the use of Gross Proceeds to replace money so invested), if as a result of such investment the yield of all investments acquired with Gross Proceeds (or with money replaced thereby) on or prior to the date of such investment exceeds the yield of the Notes to stated maturity, except as permitted by section 148 of the Code and Regulations thereunder.
No Arbitrage Covenant. The Corporation shall not take any action or fail to take any action if such action or omission would cause the Series 2020A Bonds to be “arbitrage bonds” within the meaning of Section 148(a) of the Code; nor shall any part of the proceeds of Series 2020A Bonds or any other funds of the Corporation be used directly or indirectly to acquire any investment property the acquisition of which would cause any Series 2020A Bonds to be “arbitrage bonds” within the meaning of Section 148(a) of the Code.
No Arbitrage Covenant. The Corporation shall not take any action or fail to take any action which would cause the Authorized Bonds to be “arbitrage bonds” within the meaning of Section 148(a) of the Code; nor shall any part of the proceeds of Authorized Bonds or any other funds of the Corporation be used directly or indirectly to acquire any investment property the acquisition of which would cause any Authorized Bonds to be “arbitrage bonds” within the meaning of Section 148(a) of the Code.