Common use of Permitted Purposes; Ownership of the Project Clause in Contracts

Permitted Purposes; Ownership of the Project. The Company agrees that it will, or will cause a Related Party to, acquire, construct and install, or complete the acquisition, construction and installation of, the Project, substantially in accordance with the description of the Project prepared by the Company and submitted to the Issuer, including any and all supplements, amendments and additions or deletions thereto or therefrom, it being understood that the approval of the Issuer shall not be required for changes in such description which do not substantially alter the purpose and description of the Project as set forth in Exhibit A hereto. The Project consists of those facilities described in Exhibit A and, except as otherwise provided in Sections 5.2 or 5.3: (i) the Company shall not make any changes to the Project or to the operation thereof which would have the effect of disqualifying the Project as an “eligible project” under the Act or impair the exemption from federal income taxation of the interest on the Bonds; (ii) the Company agrees to comply with all requirements set forth in the Tax Agreement; (iii) contracts for carrying out the Project and purchases in connection therewith shall be made by the Company in its own name or in the name of a Related Party; and (iv) the Company or a Related Party owns or operates the Project sufficient to carry out the purposes of this Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Casella Waste Systems Inc), Loan Agreement (Casella Waste Systems Inc)

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Permitted Purposes; Ownership of the Project. The Company agrees that it will, or will cause a Related Party to, acquire, construct and install, or complete the acquisition, construction and installation of, the Project, substantially in accordance with the description of the Project prepared by the Company and submitted to the Issuer, including any and all supplements, amendments and additions or deletions thereto or therefrom, it being understood that the approval of the Issuer shall not be required for changes in such description which do not substantially alter the purpose and description of the Project as set forth in Exhibit A hereto. The Project consists of those facilities described in Exhibit A and, except as otherwise provided in Sections 5.2 or 5.3: (i) the Company shall not make any changes to the Project or to the operation thereof which would have the effect of disqualifying the Project as an “eligible project” under the Act or impair the exemption from federal income taxation of the interest on the Bonds; (ii) the Company agrees to comply with all requirements set forth in the Tax Agreement; (iii) contracts for carrying out the Project and purchases in connection therewith shall be made by the Company in its own name or in the name of a Related Party; and (iv) the Company or a “related party” as defined in Treasury Regulations Section 1.150-1(b) (a “Related Party Party”) owns or operates the Project sufficient to carry out the purposes of this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Casella Waste Systems Inc)

Permitted Purposes; Ownership of the Project. The Company agrees that it will, or will cause a Related Party to, acquire, construct and install, or complete the acquisition, construction and installation of, the Project, substantially in accordance with the description of the Project prepared by the Company and submitted to the IssuerAuthority, including any and all supplements, amendments and additions or deletions thereto or therefrom, it being understood that the approval of the Issuer Authority shall not be required for changes in such description which do not substantially alter the purpose and description of the Project as set forth in Exhibit A hereto. The Project consists of those facilities described in Exhibit A and, except as otherwise provided in Sections 5.2 or 5.3: (i) the Company shall not make any changes to the Project or to the operation thereof which would have the effect of disqualifying the Project as an “a project eligible project” for financing under the Act or impair the exemption from federal income taxation of the interest on the Bonds; (ii) the Company agrees to comply with all requirements set forth in the Tax Agreement; (iii) contracts for carrying out the Project and purchases in connection therewith shall be made by the Company in its own name or in the name of a Related Party; and (iv) the Company or a “related party” as defined in Treasury Regulations Section 1.150-1(b) (a “Related Party owns Party”) has or operates will acquire title to the Project sufficient to carry out the purposes of this Agreement.

Appears in 1 contract

Samples: Financing Agreement (Casella Waste Systems Inc)

Permitted Purposes; Ownership of the Project. The Company agrees that it will, or will cause a Related Party to, acquire, construct and install, or complete the acquisition, construction and installation of, the Project, substantially in accordance with the description of the Project prepared by the Company and submitted to the IssuerAuthority, including any and all supplements, amendments and additions or deletions thereto or therefrom, it being understood that the approval of the Issuer Authority shall not be required for changes in such description which do not substantially alter the purpose and description of the Project as set forth in Exhibit A hereto. The Project consists of those facilities described in Exhibit A and, except as otherwise provided in Sections 5.2 or 5.3: (i) the Company shall not make any changes to the Project or to the operation thereof which would have the effect of disqualifying the Project as an “a project eligible project” for financing under the Act or impair the exemption from federal income taxation of the interest on the Bonds; (ii) the Company agrees to comply with all requirements set forth in the Tax Agreement; (iii) contracts for carrying out the Project and purchases in connection therewith shall be made by the Company in its own name or in the name of a Related Party; and (iv) the Company or a “related party” as defined in Treasury Regulations Section 1.150-1(b) (a “Related Party Party”) owns or operates the Project sufficient to carry out the purposes of this Agreement.

Appears in 1 contract

Samples: Financing Agreement (Casella Waste Systems Inc)

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Permitted Purposes; Ownership of the Project. The Company agrees that it will, or will cause a Related Party to, acquire, construct and install, or complete the acquisition, construction and installation of, the Project, substantially in accordance with the description of the Project prepared by the Company and submitted to the IssuerAuthority, including any and all supplements, amendments and additions or deletions thereto or therefrom, it being understood that the approval of the Issuer Authority shall not be required for changes in such description which do not substantially alter the purpose and description of the Project as set forth in Exhibit A hereto. The Project consists of those facilities described in Exhibit A and, except as otherwise provided in Sections 5.2 or 5.3: (i) the Company shall not make any changes to the Project or to the operation thereof which would have the effect of disqualifying the Project as an “eligible project” under the Act or impair the exemption from federal income taxation of the interest on the Bonds; (ii) the Company agrees to comply with all requirements set forth in the Tax Agreement; (iii) contracts for carrying out the Project and purchases in connection therewith shall be made by the Company in its own name or in the name of a Related Party; and (iv) the Company or a “related party” as defined in Treasury Regulations Section 1.150-1(b) (a “Related Party owns Party”) has or operates will acquire title to the Project sufficient to carry out the purposes of this Agreement.

Appears in 1 contract

Samples: Financing Agreement (Casella Waste Systems Inc)

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