No Hedge Bonds. The Lessee covenants and agrees that it has not taken and will not take any action, and has not knowingly omitted and will not knowingly omit to take any action, within its control, that, if taken or omitted, respectively, would cause the Bonds to be "hedge bonds" within the meaning of section 149(g) of the Code and the applicable Regulations thereunder.
No Hedge Bonds. The Authority and the Company expect that more than 85% of the Net Sale Proceeds of the Bonds will be expended for the purposes of the Resolution and the Bonds no later than September 11, 2000. In addition, not more than 50% of the proceeds of the Bond will be invested in Nonpurpose Investments having a substantially guaranteed yield for 4 years or more.
No Hedge Bonds. The Purchaser reasonably expects that more than eighty-five percent (85%) of the Facility Funds will be expended for the purposes of this Agreement within three years of the Effective Date.
No Hedge Bonds. At least 85% of the net sale proceeds (the sale proceeds of the Certificates less any sale proceeds invested in a reserve fund) of the Certificates will be used to carry out the governmental purpose of the Lease and Certificates within three years after the Issue Date, and not more than 50% of the proceeds of the Certificates will be invested in Investments having a substantially guaranteed Yield for four years or more.
No Hedge Bonds. At least 85% of the net sale proceeds of each issue comprising the Original Obligations were used to carry out the governmental purpose of the Original Obligations within three years after the respective issue date thereof, and not more than 50% of the proceeds of each issue comprising the Original Obligations were invested in Investments having a substantially guaranteed Yield for four years or more.
No Hedge Bonds. The Authority covenants not to take any action or omit to take action that, if taken or omitted, would cause the Note to be a “hedge bond” within the meaning of section 149(g) of the Code.
No Hedge Bonds. The City reasonably expects that more than eighty-five percent (85%) of the Facility Funds will be expended for the purposes of this Agreement within three years of the Effective Date.
No Hedge Bonds. The Borrower reasonably expects that at least 85% of the spendable proceeds of the Series 2016B Bond will be used to carry out the governmental purpose of the issue within the three-year period beginning on the date hereof. Additionally, not more than 50% of the proceeds of the Series 2016B Bond will be invested in nonpurpose investments having a substantially guaranteed yield for four years or more. The tests described above were also satisfied by the Refunded Bonds.
No Hedge Bonds. The Lease is not an issue of “hedge bonds” within the meaning of Section 149(g) of the Code as the Lessee reasonably expects that (a) more than 85% of the Net Sale Proceeds of the Lease will be expended for governmental purposes of the Lease within the three-year period beginning on the date hereof and (b) not more than 50% of the Proceeds of the Lease will be invested in investments having a substantially guaranteed yield for 4 years or more.
