Common use of Payment to United States Clause in Contracts

Payment to United States. (a) Within 15 days after the end of the fifth Bond Year and after every fifth Bond Year thereafter, the Company shall direct the Trustee in writing to pay to the United States, not later than 45 days after the end of the fifth Bond Year, and not later than five years after each preceding payment was due or would have been due if a Rebate Amount existed at that time, an amount equal to not less than the excess of (i) 90% of the sum of the balance, if any, in the Rebate Fund at such time plus all previous payments made to the United States over (ii) all previous payments made to the United States. The Company shall direct the Trustee in writing and the Trustee, in accordance with such directions, shall pay to the United States, not later than 60 days after the last outstanding Bonds are paid or redeemed, 100% of the Rebate Amount as of the end of the final Computation Period less all previous payments made to the United States. (b) Each payment of Rebate Amount shall be mailed by the Trustee to the Internal Revenue Service Center, Xxxxx, Xxxx 00000. Each payment shall be accompanied by a copy of Form 8038-T and the statement summarizing the determination of the Rebate Amount. (c) If during any Computation Period the aggregate amount earned on Nonpurpose Obligations in which the Gross Proceeds of the Bonds are invested is less than the amount that would have been earned if the obligations had been invested at a rate equal to the Yield on the Bonds, such deficit may at the request of the Company be withdrawn from the Rebate Fund and paid to the Company. The Company may direct that any overpayment of rebate may be recovered from any rebate amount previously paid to the United States under any procedure that may be permitted by the Code or the Regulations. (d) The Company shall provide to the Trustee all information and calculations necessary for the Trustee to fulfill its obligations under Section 8.05 of the Indenture.

Payment to United States. (a) Within 15 Not later than sixty (60) days after each Installment Computation Date (or such longer period as may be permitted by the end of the fifth Bond Year and after every fifth Bond Year thereafterRegulations), the Company shall direct the Trustee in writing to pay to the United States, not later than 45 days after the end of the fifth Bond Year, and not later than five years after each preceding payment was due or would have been due if a Rebate Amount existed at that time, an amount equal to not less than the excess of (i) 90% of the sum of the balance, if any, in the Rebate Fund at such time plus all previous payments made to the United States over (ii) all previous payments made to the United States. The Company shall direct the Trustee in writing and the Trustee, in accordance with such directions, shall pay to the United StatesStates an amount that, not later than 60 days after when added to the last outstanding Bonds are paid or redeemedFuture Value as of such Computation Date of previous rebate payments made for the Bonds, 100% equals at least ninety percent (90%) of the Rebate Amount required to be on deposit in the Rebate Fund as of such payment date. No later than sixty (60) days after the end of Final Computation Date the final Computation Period less all previous payments made Trustee shall pay to the United StatesStates an amount that, when added to the Future Value as of such Computation Date of previous rebate payments made for the Bonds, equals at least one hundred percent (100%) of the balance remaining in the Rebate Fund. (b) Each The Trustee shall mail each payment of Rebate Amount shall be mailed by the Trustee an installment to the Internal Revenue Service Center, XxxxxXxxxxxxxxxxx, Xxxx Xxxxxxxxxxxx 00000. Each payment shall be accompanied by a copy of Internal Revenue Form 8038-T and the T, and, if necessary, a statement summarizing the determination of the Rebate Amount. (c) If during on any Computation Period Date, the aggregate amount earned on Nonpurpose Obligations Investments in which the Gross Proceeds of the Bonds are invested is less than the amount that would have been earned if the obligations had been invested at a rate equal to the Yield on the BondsBonds as determined in Section 4.03 hereof, such deficit may at the written request of the Company Borrower be withdrawn from the Rebate Fund and paid to the CompanyBorrower or as the Borrower shall direct. The Company Borrower may direct that any overpayment of rebate may be recovered from any rebate amount Rebate Amount previously paid to the United States under any procedure that may be permitted by the Code or pursuant to ss. 1.148-3(i) of the Regulations. (d) The Company Borrower shall provide also pay any penalty or interest on underpayments of Rebate Amount not paid in a timely manner pursuant to this Tax Regulatory Agreement, the Trustee all information Code and calculations necessary for the Trustee to fulfill its obligations under Section 8.05 of the IndentureRegulations.

Payment to United States. (a) Within 15 Not later than sixty (60) days after the end last day of the each fifth Bond Year and after every fifth Bond Year thereafter(or such longer period as may be permitted by the Regulations), the Company shall direct the Trustee in writing to pay to the United States, not later than 45 days after the end of the fifth Bond Year, and not later than five years after each preceding payment was due or would have been due if a Rebate Amount existed at that time, an amount equal to not less than the excess of (i) 90% of the sum of the balance, if any, in the Rebate Fund at such time plus all previous payments made to the United States over (ii) all previous payments made to the United States. The Company shall direct the Trustee in writing and the Trustee, in accordance with such directions, shall pay to the United StatesStates an amount that, not later than 60 days after when added to the last outstanding Bonds are paid or redeemedFuture Value as of the most recent Computation Date of previous rebate payments made for the Bonds, 100% equals at least ninety percent (90%) of the Rebate Amount required to be on deposit in the Rebate Fund as of such payment date. No later than sixty (60) days after the end of Final Computation Date the final Computation Period less all previous payments made Trustee shall pay to the United StatesStates an amount that, when added to the Future Value as of such Computation Date of previous rebate payments made for the Bonds, equals at least one hundred percent (100%) of the balance remaining in the Rebate Fund. (b) Each The Trustee shall mail each payment of Rebate Amount shall be mailed by the Trustee an installment to the Internal Revenue Service Center, XxxxxXxxxxxxxxxxx, Xxxx Xxxxxxxxxxxx 00000. Each payment shall be accompanied by a copy of Internal Revenue Form 8038-T and the T, and, if necessary, a statement summarizing the determination of the Rebate Amount. (c) If during on any Computation Period Date, the aggregate amount earned on Nonpurpose Obligations Investments in which the Gross Proceeds of the Bonds are invested is less than the amount that would have been earned if the obligations had been invested at a rate equal to the Yield on the BondsBonds as determined in Section 4.3, such deficit may at the written request of the Company Borrower be withdrawn from the Rebate Fund and paid to the CompanyBorrower or as the Borrower shall direct. The Company Borrower may direct that any overpayment of rebate may be recovered from any rebate amount Rebate Amount previously paid to the United States under any procedure that may be permitted by the Code or pursuant to ss. 1.148-3(i) of the Regulations. (d) The Company Borrower shall provide also pay any penalty or interest on underpayments of Rebate Amount not paid in a timely manner pursuant to this Tax Regulatory Agreement, the Trustee all information Code and calculations necessary for the Trustee to fulfill its obligations under Section 8.05 of the IndentureRegulations.

Payment to United States. (a) Within 15 Not later than sixty (60) days after each Installment Computation Date (or such longer period as may be permitted by the end of the fifth Bond Year and after every fifth Bond Year thereafterRegulations), the Company shall direct the Trustee in writing to pay to the United States, not later than 45 days after the end of the fifth Bond Year, and not later than five years after each preceding payment was due or would have been due if a Rebate Amount existed at that time, an amount equal to not less than the excess of (i) 90% of the sum of the balance, if any, in the Rebate Fund at such time plus all previous payments made to the United States over (ii) all previous payments made to the United States. The Company shall direct the Trustee in writing and the Trustee, in accordance with such directions, shall pay to the United StatesStates an amount that, not later than 60 days after when added to the last outstanding Bonds are paid or redeemedFuture Value as of such Computation Date of previous rebate payments made for the Bonds, 100% equals at least ninety percent (90%) of the Rebate Amount required to be on deposit in the Rebate Fund as of such payment date. No later than sixty (60) days after the end of Final Computation Date the final Computation Period less all previous payments made Trustee shall pay to the United StatesStates an amount that, when added to the Future Value as of such Computation Date of previous rebate payments made for the Bonds, equals at least one hundred percent (100%) of the balance remaining in the Rebate Fund. (b) Each The Trustee shall mail each payment of Rebate Amount shall be mailed by the Trustee an installment to the Internal Revenue Service Center, XxxxxXxxxxxxxxxxx, Xxxx Xxxxxxxxxxxx 00000. Each payment shall be accompanied by a copy of Internal Revenue Form 8038-T and the T, and, if necessary, a statement summarizing the determination of the Rebate Amount. (c) If during on any Computation Period Date, the aggregate amount earned on Nonpurpose Obligations Investments in which the Gross Proceeds of the Bonds are invested is less than the amount that would have been earned if the obligations had been invested at a rate equal to the Yield on the BondsBonds as determined in Section 4.03 hereof, such deficit may at the written request of the Company Borrower be withdrawn from the Rebate Fund and paid to the CompanyBorrower or as the Borrower shall direct. The Company Borrower may direct that any overpayment of rebate may be recovered from any rebate amount Rebate Amount previously paid to the United States under any procedure that may be permitted by the Code or pursuant to (S) 1.148-3(i) of the Regulations. (d) The Company Borrower shall provide also pay any penalty or interest on underpayments of Rebate Amount not paid in a timely manner pursuant to this Tax Regulatory Agreement, the Trustee all information Code and calculations necessary for the Trustee to fulfill its obligations under Section 8.05 of the IndentureRegulations.

Payment to United States. ‌ (a) Within 15 Not later than sixty (60) days after each Installment Computation Date (or such longer period as may be permitted by the end of the fifth Bond Year and after every fifth Bond Year thereafterRegulations), the Company shall direct the Trustee in writing to pay to the United States, not later than 45 days after the end of the fifth Bond Year, and not later than five years after each preceding payment was due or would have been due if a Rebate Amount existed at that time, an amount equal to not less than the excess of (i) 90% of the sum of the balance, if any, in the Rebate Fund at such time plus all previous payments made to the United States over (ii) all previous payments made to the United States. The Company shall direct the Trustee in writing and the Trustee, in accordance with such directions, shall pay to the United StatesStates an amount that, not later than 60 days after when added to the last outstanding Bonds are paid or redeemedFuture Value as of such Computation Date of previous rebate payments made for the Series 2017 Bonds, 100% equals at least ninety percent (90%) of the Rebate Amount required to be on deposit in the Rebate Fund as of such payment date. No later than sixty (60) days after the end of Final Computation Date the final Computation Period less all previous payments made Trustee shall pay to the United StatesStates an amount that, when added to the Future Value as of such Computation Date of previous rebate payments made for the Series 2017 Bonds, equals at least one hundred percent (100%) of the balance remaining in the Rebate Fund. (b) Each The Trustee shall mail each payment of Rebate Amount shall be mailed by the Trustee an installment to the appropriate Internal Revenue Service Center, Xxxxx, Xxxx 00000. Each payment shall be accompanied by a copy the Arbitrage Rebate and Penalty in Lieu of Arbitrage Rebate, Internal Revenue Service Form 8038-T and the T, or applicable successor form, and, if necessary, a statement summarizing the determination of the Rebate Amount. (c) If during on any Computation Period Date, the aggregate amount earned on Nonpurpose Obligations Investments in which the Gross Proceeds of the Series 2017 Bonds are invested is less than the amount that would have been earned if the obligations had been invested at a rate equal to the Bond Yield on the Bondsas determined in Section 4.04 hereof, such deficit earnings may at the request of the Company be withdrawn from the Rebate Fund and paid to deposited in the CompanyBond Fund. The Company Corporation may direct that any overpayment of rebate may be recovered from any rebate amount Rebate Amount previously paid to the United States under any procedure that may be permitted by the Code or pursuant to Section 1.148-3(i) of the Regulations. (d) The Company Corporation shall provide also pay any penalty or interest on underpayments of Rebate Amount not paid in a timely manner pursuant to this Tax Exemption Agreement, the Trustee all information Code and calculations necessary for the Trustee to fulfill its obligations under Section 8.05 of the IndentureRegulations.