No Other Replacement Proceeds. The Recipient will not use any of the Project Funds to replace funds of the Recipient which are or will be used to acquire investment property reasonably expected to produce a yield that is materially higher than the yield on the Bonds.
No Other Replacement Proceeds. The Purchaser hereby agrees that it will not use any Facility Funds to replace funds of the Purchaser which are or will be used to acquire Investment Property reasonably expected to produce a yield that is materially higher than the yield on the Installment Payments under this Agreement.
No Other Replacement Proceeds. Except for the establishment of the funds and accounts described in paragraphs (i) through (v) above, none of the Issuer or the Concessionaire nor a related person (as defined in Section 147 of the Code) to the Issuer or the Concessionaire, as the case may be, nor any other substantial beneficiary of the Series 2014 Bonds has created or established and none of the foregoing parties are expected to create or establish any other fund to pay debt service on the Series 2014 Loan or the Series 2014 Bonds, or a debt service reserve fund or any other similar fund with respect to the Series 2014 Loan or the Series 2014 Bonds, or a negative pledge or right of set-off in any funds, accounts or assets of the Issuer or the Concessionaire. Further, there are no other funds that are reasonably expected to be used to pay debt service on the Series 2014 Loan or the Series 2014 Bonds and for which there is a reasonable assurance that amounts on deposit therein or the investment income earned thereon will be available to pay debt service on the Series 2014 Loan or the Series 2014 Bonds if the applicable obligor encounters financial difficulties. None of the Issuer or the Concessionaire will create or establish, or will allow to be created or established, any such fund, account, negative pledge or right of set-off unless the Issuer obtains an opinion of Bond Counsel to the effect that the creation or establishment of such fund, account, negative pledge or right of set-off will not adversely affect the excludability of interest on the Series 2014 Bonds from the gross income of the registered owners thereof for federal income tax purposes.
No Other Replacement Proceeds. That portion of the Issue that is to be used to finance Capital Expenditures has a weighted average maturity that does not exceed 120% of the weighted average reasonably expected economic life of such Capital Expenditures.
No Other Replacement Proceeds. The term of the Bonds is no longer than is reasonably necessary for the governmental purposes of the Bonds. Specifically, the Bonds have a weighted average maturity (______ years) that does not exceed 120 percent of the average reasonably expected economic life of the Financed Facilities being refinanced thereby, determined in the same manner as under Section 147(b) of the Code. For this purpose, the reasonably expected economic life of any facility shall be determined as of the later of (i) the date on which the bonds are issued, or (ii) the date on which the facility is placed in service (or expected to be placed in service).
No Other Replacement Proceeds. The City is not using any Facility Funds and hereby agrees that it will not use any Facility Funds to replace funds of the City which are or will be used to acquire Investment Property reasonably expected to produce a yield that is materially higher than the yield on the Installment Payments under this Agreement.
