Common use of Non-AMT Tax-Exempt Obligations Clause in Contracts

Non-AMT Tax-Exempt Obligations. an obligation the interest on which is excluded from the gross income, as defined in section 61 of the Code, of the owners thereof for federal income tax purposes (or, when such obligation was issued, was purported by the evidence of such obligation to be so excluded) and which is not a preference item, as defined in section 57 of the Code, and

Non-AMT Tax-Exempt Obligations. an obligation the interest on which is excluded from the gross income, as defined in section 61 of the Code, income of the owners thereof for federal income tax purposes (or, when such obligation was issued, was purported by the evidence of such obligation to be so excluded) and which is not a preference item, as defined in section Section 57 of the Code, and