Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of the Code and the Treasury Regulations and rulings thereunder, the Authority shall not, at any time prior to the final maturity of the Tax-Exempt 2022 Bonds, enter into any transaction that reduces the amount required to be paid to the United States pursuant to paragraph (h) of this Section because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at arm’s length and had the Yield on the Tax-Exempt 2022 Bonds not been relevant to either party.
Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of the Code and the Tax Regulations and rulings thereunder, the District shall not and shall not permit any person to, at any time prior to the final cancellation of the last of the Bonds to be retired, enter into any transaction that reduces the amount required to be paid to the United States pursuant to paragraph (h) of this Section because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at arm’s length and had the Yields on the Bonds not been relevant to either party.
Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of the Code and the Regulations and rulings thereunder, the City shall not, at any time prior to the earlier of the Stated Maturity or final payment of the Bonds, enter into any transaction that reduces the amount required to be paid to the United States pursuant to Subsection (h) of this Section because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at arm’s length and had the Yield of the Bonds not been relevant to either party.
Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of the Code and the Tax Regulations and rulings thereunder, neither the City nor the Authority shall enter into any transaction that reduces the amount required to be paid to the United States pursuant to section 148(f) of the Code because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at arm’s length and the Yield of this Agreement had been irrelevant to each party.
Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of the Code and the Tax Regulations and rulings thereunder, the Authority shall not enter into any transaction that reduces the amount required to be paid to the United States pursuant to section 148(f) of the Code because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at arm’s length and the Yield of the Bonds had been irrelevant to each party.
Not to Divert Arbitrage Profits. Except as would not cause the 2014 Series A Bonds to be “arbitrage bonds” under section 148 of the Code, the Authority shall not at any time prior to the final maturity of the 2014 Series A Bonds enter into any transaction that would reduce the amount required to be paid to the United States pursuant to paragraph (h) of this Section because such transaction results in a smaller profit, or a larger loss, than would have resulted if the transaction had been at arm’s length and had the Yield on the 2014 Series A Bonds not been relevant to either party.
Not to Divert Arbitrage Profits. Except to the extent permitted by Section 148 of the Code and the Regulations and rulings thereunder, neither the City nor the Corporation shall, at any time prior to the earlier of the stated maturity or final payment of the Series 2020 Bonds, enter into any transaction that reduces the amount required to be paid to the United States pursuant to Subsection (vii) of this Section because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at arm's length and had the Yield of the Series 2020 Bonds not been relevant to either party.
Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of the Code and the Tax Regulations and rulings thereunder enter into any transaction that reduces the amount required to be paid to the United States pursuant to clause (g) of this Section with respect to such Issue because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at fair market value as required by Section 1.148-5(d)(3) of the Tax Regulations (as defined by Section 1.148-5(d)(6) thereof).
Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of the Code and the Tax Regulations and rulings thereunder, SANDAG shall not, at any time prior to the final maturity of the Bonds, enter into any transaction that reduces the amount required to be paid to the United States pursuant to paragraph (H) of this Section because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at arm's length and had the Yield on the Bonds not been relevant to either party.
Not to Divert Arbitrage Profits. Except to the extent permitted by section 148 of the Code and the Tax Regulations and rulings thereunder, fail prior to the earlier of the stated maturity of the Tax Exempt Notes or the date on which the last Tax Exempt Advance is repaid to enter into any transaction that reduces the amount required to be paid to the United States of America pursuant to clause (f) of this Section with respect to such Issue because such transaction results in a smaller profit or a larger loss than would have resulted if the transaction had been at arm's length and had the Yield of the Tax Exempt Notes not been relevant to either party.
