Common use of Opinion of Bond Counsel Required Clause in Contracts

Opinion of Bond Counsel Required. No amendment to this Funding Loan Agreement, the Governmental Note, the Project Loan Agreement, the Project Note, the Security Instrument or the TEL Regulatory Agreement shall become effective unless and until all of the following have occurred: (a) Funding Lender Representative shall have consented to the same in writing in its sole discretion. (b) Funding Lender Representative, Governmental Lender and Fiscal Agent shall have received, at the expense of Borrower: (i) An opinion of Bond Counsel to the effect that such amendment, change or modification will not, in and of itself, cause interest on the Governmental Note to be includable in the gross income of the holders thereof for federal income tax purposes, and (ii) An opinion of counsel acceptable to Funding Lender Representative to the effect that any such proposed such amendment, change or modification is authorized and complies with the provisions of this Funding Loan Agreement and is a legal, valid and binding obligation of the parties thereto, subject to normal exceptions relating to bankruptcy, insolvency and equitable principles limitations.

Opinion of Bond Counsel Required. No amendment to this Funding Loan Agreement, the Governmental NoteNotes, the Project Loan Agreement, the Project NoteNotes, the Security Instrument Instrument, or the TEL Tax Regulatory Agreement shall become effective unless and until all of (i) the following have occurred: (a) Funding Lender Representative shall have consented to the same in writing in its sole discretion. ; (bii) the Funding Lender Representative, the Governmental Lender and the Fiscal Agent shall have received, at the expense of the Borrower: , (iA) An an opinion of Bond Counsel to the effect that such amendment, change or modification will not, in and of itself, cause interest on the Tax-Exempt Governmental Note to be includable in the gross income of the holders thereof for federal income tax purposes, and and (iiB) An an opinion of counsel acceptable to the Funding Lender Representative to the effect that any such proposed such amendment, change change, or modification is authorized and complies with the provisions of this Funding Loan Agreement and is a legal, valid and binding obligation of the parties thereto, subject to normal exceptions relating to bankruptcy, insolvency and equitable principles limitations; and (iii) to the extent the Borrower is not in default under the Financing Documents and such amendment would change the essential economic terms of the Project Loan or impose upon the Borrower greater liability under the Financing Documents, the Borrower has consented to the same.

Opinion of Bond Counsel Required. No amendment to this Funding Loan Agreement, the Governmental Note, the Project Loan Agreement, the Project Note, the Security Instrument or the TEL Tax Regulatory Agreement shall become effective unless and until all of (i) the following have occurred: (a) Funding Lender Representative shall have consented to the same in writing in its sole discretion. discretion and (bii) the Funding Lender Representative, the Governmental Lender and the Fiscal Agent shall have received, at the expense of the Borrower: , (iA) An an opinion of Bond Counsel to the effect that such amendment, change or modification will not, in and of itself, cause interest on the Governmental Note to be includable in the gross income of the holders thereof for federal income tax purposes, and and (iiB) An an opinion of counsel acceptable to the Funding Lender Representative to the effect that any such proposed such amendment, change or modification is authorized and complies with the provisions of this Funding Loan Agreement and is a legal, valid and binding obligation of the parties thereto, subject to normal exceptions relating to bankruptcy, insolvency and equitable principles limitations.

Opinion of Bond Counsel Required. No amendment to this Funding Loan Agreement, the Governmental Note, the Project Loan Agreement, the Project Note, the Security Instrument or the TEL Regulatory Agreement shall become effective unless and until all of the following have occurred: (a) Funding Lender Representative shall have consented to the same in writing in its sole discretion. (b) Funding Lender Representative, Governmental Lender and Fiscal Agent shall have received, at the expense of Borrower: (i) An opinion of Bond Counsel to the effect that such amendment, change or modification will not, in and of itself, cause interest on the Governmental Note to be includable in the gross income of the holders thereof for federal income tax purposes, and (ii) An opinion of counsel acceptable to Funding Lender Representative to the effect that any such proposed such amendment, change or modification is authorized and complies with the provisions of this Funding Loan Agreement and is a legal, valid and binding obligation of the parties thereto, subject to normal exceptions relating to bankruptcy, insolvency and equitable principles limitations. (c) If the Borrower is not in default under the Financing Documents and such amendment would change the essential economic terms of the Project Loan or impose upon Borrower greater liability under the Financing Documents, the Borrower has consented thereto.

Opinion of Bond Counsel Required. No amendment to this Funding Loan Agreement, the Governmental Note, the Project Loan Agreement, the Project Note, the Security Instrument or the TEL Tax Regulatory Agreement shall become effective unless and until all of (i) the following have occurred: (a) Funding Lender Representative shall have consented to the same in writing in its sole discretion. discretion and (bii) the Funding Lender Representative, the Governmental Lender and the Fiscal Agent shall have received, at the expense of the Borrower: , (iA) An an opinion of Bond Counsel to the effect that such amendment, change or modification will not, in and of itself, cause interest on the Governmental Note to be includable in the gross income of the holders owners thereof for federal income tax purposes, and and (iiB) An an opinion of counsel acceptable to the Funding Lender Representative to the effect that any such proposed such amendment, change or modification is authorized and complies with the provisions of this Funding Loan Agreement and is a legal, valid and binding obligation of the parties thereto, subject to normal exceptions relating to bankruptcy, insolvency and equitable principles limitations.

Opinion of Bond Counsel Required. No amendment to this Funding Loan Agreement, the Governmental NoteNotes, the Project Loan Agreement, the Project NoteNotes, the Security Instrument Instrument, or the TEL Tax Regulatory Agreement shall become effective unless and until all of (i) the following have occurred: (a) Funding Lender Representative shall have consented to the same in writing in its sole discretion. , (bii) the Funding Lender Representative, the Governmental Lender and the Fiscal Agent shall have received, at the expense of the Borrower: , (iA) An an opinion of Bond Counsel to the effect that such amendment, change or modification will not, in and of itself, cause interest on the Tax-Exempt Governmental Note Notes to be includable in the gross income of the holders thereof for federal income tax purposes, and and (iiB) An an opinion of counsel acceptable to the Funding Lender Representative to the effect that any such proposed such amendment, change change, or modification is authorized and complies with the provisions of this Funding Loan Agreement and is a legal, valid and binding obligation of the parties thereto, subject to normal exceptions relating to bankruptcy, insolvency and equitable principles limitations, and (iii) to the extent the Borrower is not in default under the Financing Documents and such amendment would change the essential economic terms of the Project Loans or impose upon the Borrower greater liability under the Financing Documents, the Borrower has consented to the same.