Common use of No Private Loan Clause in Contracts

No Private Loan. Except as would not cause any Tax-Exempt 2022 Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax-Exempt 2022 Bond to make or finance loans to any Nongovernmental Person. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City District shall not use or permit the use of Gross Proceeds of any Tax-Exempt 2022 Bond the Bonds to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (ai) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (bii) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (ciii) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax2015-Exempt 2022 A Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Treasury Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax2015-Exempt 2022 A Bond to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 Authority Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City District shall not use or permit the use of Gross Proceeds of any Tax-Exempt 2022 Bond the Authority Bonds to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (ai) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (bii) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (ciii) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Treasury Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax-Tax- Exempt 2022 Bond to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-the Tax Exempt 2022 Bond Notes to become a “"private activity bond” bonds" within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, use or permit the Authority and the City shall not use of Gross Proceeds of any Tax-Exempt 2022 Bond to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government (including Indian tribal governments or subdivisions thereof). For purposes of the foregoing covenantthis clause (c), such Gross Proceeds are considered to be “"loaned” " to a person or entity if: (a1) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b2) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c3) indirect benefits of such Gross Proceedsbenefits, or burdens and benefits of ownership ownership, of such Gross Proceeds or any property acquired, constructed or improved with such Gross Proceeds, Proceeds are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax2014-Exempt 2022 A Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax2014-Exempt 2022 A Bond to make or finance loans to any Nongovernmental Person. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 Bond to become a “private activity bond” within the meaning of section Section 141 of the Code and the Tax Regulations and rulings thereunder, neither the Agency nor the Authority and the City shall not use Gross Proceeds of any Tax-Exempt 2022 Bond the Bonds to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (ai) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (bii) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (ciii) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 Bond Obligation to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, neither the Authority and District nor the City Participant shall not use or permit the use of the Gross Proceeds of any the Tax-Exempt 2022 Bond Obligations to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a1) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b2) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c3) indirect benefits of such Gross Proceedsbenefits, or burdens and benefits of ownership ownership, of such Gross Proceeds or any property acquired, constructed or improved with such Gross Proceeds, Proceeds are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax2024-Exempt 2022 A Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax2024-Exempt 2022 A Bond to make or finance loans to any Nongovernmental Person. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 2020 Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax-Exempt 2022 2020 Bond to make or finance loans to any Nongovernmental Person. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax2024-Exempt 2022 A Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Treasury Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax2024-Exempt 2022 A Bond to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: : (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 Bond or Prior PFA Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City shall not use or permit the use of Gross Proceeds of any Tax-Exempt 2022 Bond to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (ai) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (bii) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (ciii) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 2004 Bond or Additional Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City shall not use or permit the use of Gross Proceeds of any Tax-Exempt 2022 Bond the 2004 Bonds and Additional Bonds to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a1) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b2) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c3) indirect benefits of such Gross Proceedsbenefits, or burdens and benefits of ownership ownership, of such Gross Proceeds or any property acquired, constructed or improved with such Gross Proceeds, Proceeds are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax2016-Exempt 2022 A Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Treasury Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax2016-Exempt 2022 A Bond to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: : (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 Bond this Agreement to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, neither the City nor the Authority and has used or permitted the City use of, or shall not use or permit the use of Gross Proceeds of any Tax-Exempt 2022 Bond this Agreement to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a1) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b2) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c3) indirect benefits of such Gross Proceedsbenefits, or burdens and benefits of ownership ownership, of such Gross Proceeds or any property acquired, constructed or improved with such Gross Proceeds, Proceeds are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax2020-Exempt 2022 A Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Treasury Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax2020-Exempt 2022 A Bond to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: : (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax2009-Exempt 2022 A Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax2009-Exempt 2022 A Bond to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-Exempt 2022 2016 Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax-Exempt 2022 2016 Bond to make or finance loans to any Nongovernmental Person. For purposes of the foregoing covenant, such Gross Proceeds are considered to be “loaned” to a person or entity if: (a) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c) indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of any property acquired, constructed or improved with such Gross Proceeds, are otherwise transferred in a transaction that is the economic equivalent of a loan.

No Private Loan. Except as would not cause any Tax-the Tax Exempt 2022 Bond Notes to become a “"private activity bond” " within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, use or permit the Authority and the City shall not use of Gross Proceeds of any Tax-Exempt 2022 Bond to make or finance loans to any Nongovernmental Personperson or entity other than a state or local government (including Indian tribal governments or subdivisions thereof). For purposes of the foregoing covenantthis clause (c), such Gross Proceeds are considered to be “"loaned” " to a person or entity if: (a1) property acquired, constructed or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction that creates a debt for federal income tax purposes; (b2) capacity in or service from such property is committed to such person or entity under a take-or-pay, output or similar contract or arrangement; or (c3) indirect benefits of such Gross Proceedsbenefits, or burdens and benefits of ownership ownership, of such Gross Proceeds or any property acquired, constructed or improved with such Gross Proceeds, Proceeds are otherwise transferred in a transaction that is the economic equivalent of a loan.