Private Activity Bond Limitation. The District shall assure that the proceeds of the Bonds are not so used as to cause the Bonds to satisfy the private business tests of section 141(b) of the Code or the private loan financing test of section 141(c) of the Code.
Private Activity Bond Limitation. Except as otherwise permitted by the Code, the City shall assure that proceeds of the Bonds are not so used as to cause the Tax- Exempt Bonds to satisfy the private business tests of section 141(b) of the Code.
Private Activity Bond Limitation. The District and the Authority shall assure that proceeds of the Certificates are not so used as to cause the Certificates or the Installment Sale Agreement to satisfy the private business tests of section 141(b) of the Tax Code or the private loan financing test of section 141(c) of the Tax Code.
Private Activity Bond Limitation. The District will ensure that the proceeds of the Lease Payments are not so used as to cause the District’s obligations hereunder to satisfy the private business tests of Section 141(b) of the Tax Code or the private loan financing test of Section 141(c) of the Tax Code.
Private Activity Bond Limitation. The Lessee will assure that the proceeds of each Lease are not so used as to cause the obligations of the Lessee under that Lease to satisfy the private business tests of Section 141(b) of the Code or the private loan financing test of section 141(c) of the Code.
Private Activity Bond Limitation. The Authority shall assure that the proceeds of the Bonds are not used in a manner which would cause the Bonds to become “private activity bonds” within the meaning of section 141(a) of the Code or to meet the private loan financing test of Section 141(c) of the Code.
Private Activity Bond Limitation. The City shall assure that the proceeds of the 2020 Bonds are not so used as to cause the 2020 Bonds to satisfy the private business tests of Section 141(b) of the Code or the private loan financing test of Section 141(c) of the Code.
Private Activity Bond Limitation. The District shall assure that monies deposited pursuant to this Agreement are not so used as to cause this Agreement to satisfy the private business tests of section 141(b) of the Code or the private loan financing test of section 141(d) of the Code.
Private Activity Bond Limitation. The City shall assure that the proceeds of the Advance are not used as to cause the Bonds to satisfy the private business tests of Section 141(b) of the Tax Code or the private loan financing test of Section 141(c) of the Internal Revenue Code of 1986, as amended (the “Tax Code”).
Private Activity Bond Limitation. The District shall assure that moneys deposited in the Escrow Account are not so used as to cause this Installment Sale Agreement to satisfy the private business test of Section 141(b) of the Code or the private loan financing test of Section 141(c) of the Code. The payment of the Installment Payments or any portion thereof is not (under the terms of this Installment Sale Agreement or any underlying arrangement) directly or indirectly (x) secured by any interest in property used or to be used in any activity carried on by any person other than a state or local governmental unit or payments in respect of such property; or (y) on a present value basis, derived from payments (whether or not to the District) in respect of property, or borrowed money, used or to be used in any activity carried on by any person other than a state or local governmental unit. The Equipment will not be used, directly or indirectly, in any activity carried on by any person other than a state or local governmental unit. No portion of the Acquisition Amount will be used, directly or indirectly, to make or finance loans to any person other than the District. The District has not entered into any management or other service contract with respect to the use and operation of the Equipment.
