Private Business Use. So long as any Series 2023 Bonds remain outstanding under the Code, the Manager agrees that it will manage the Xxxxx Port Public Roadway in such a manner that at least 90% of the Net Proceeds of the Series 2023 Bonds utilized for Xxxxx Port Public Roadway will be treated as used, directly or indirectly, in activities that do not constitute a Private Business Use; not more than 10% of the proceeds of the Series 2023 Bonds utilized for the Xxxxx Port Public Roadway will be treated under the Code as used, directly or indirectly, in a Private Business Use; and not more than 5% of the proceeds of the Series 2023 Bonds utilized for the Xxxxx Port Public Roadway will be treated under the Code as used, directly or indirectly, in a Private Business Use that is not directly related to the use of the Xxxxx Port Public Roadway for the Roadway Function. The Manager will not enter into any contract or other arrangement that would cause more than 10% of the proceeds of the Series 2023 Bonds utilized for the Xxxxx Port Public Roadway to be treated under the Code as used, directly or indirectly, in a Private Business Use, or more than 5% of the proceeds of the Series 2023 Bonds utilized for the Xxxxx Port Public Roadway to be treated under the Code as used, directly or indirectly, in a Private Business Use that is not directly related to the use of the Xxxxx Port Public Roadway as public infrastructure improvements. The Manager may depart from its covenants in this subparagraph (c) only if and to the extent requested in writing by the Manager and approved in writing by the Port Authority and if a No Adverse Effect Opinion, describing the extent to which the Manager may depart from such covenants, is obtained, which shall be at the sole cost and expense of the Manager, and delivered to the Port Authority and the Trustee.
Private Business Use. The City shall assure that the Athletic Fields and the Improvements are not used by third parties as to cause the Lease to satisfy the private business tests of Section 141(b) of the Internal Revenue Code of 1986 (the “Code”) as in effect on the date of execution of this Agreement or the private loan financing test of Section 141(c) of the Code.
Private Business Use. 8 Section 2.2. Registration 8 Section 2.3. [RESERVED] 8 Section 2.4. Change of Use 8 Section 2.5. 120 Percent Maturity Limitation 9
Private Business Use. During the term of the Notes, the City reasonably expects that:
(a) No Proceeds of the Notes will be used for any Private Business Use;
(b) Payment of the principal of or interest on the Notes is not (under the terms of the Notes or any underlying arrangement) directly or indirectly (i) secured by any interest in
(A) property used or to be used for a Private Business Use or (B) payments in respect of such property or (ii) to be derived from payments (whether or not to the City) in respect of property or borrowed money used or to be used for a Private Business Use;
(c) No portion of the proceeds of the Notes will be used (directly or indirectly) to make or finance loans to any person, other than persons which are Governmental Units; and
Private Business Use a. If entering into a contract for the use of or lease of space of any portion of a University building or outdoor space and the third party will use the space for its business use (i.e. not personal use)
b. Must obtain BAO Treasury Operations approval prior to signing the Facilities Use Agreement or Lease.
c. Send approval request to BAO Treasury Operations – xxxxxxxx@xxxxxxx.xxx Bureau of Labor and Industries The protections of the wage and hour laws enforced by BOLI apply to “employment relationships.” Because an “independent contractor” is excluded from the definition of an “employee” (at ORS 652.310(2)(a)), a worker is either an independent contractor or an employee, but never both. XXXX’s Wage and Hour Division applies the “economic reality” test to determine whether there is an employment relationship. The “economic reality” test consists of the following five factors which gauge the degree of a worker's economic dependency on the business to which he or she is providing services. Generally speaking, the more dependent a worker is on a particular business, the more likely they are to be an employee. In weighing these factors, it is important to remember that no single factor is determinative for an investigator, administrative law judge or a trial court judge to find that a worker is an independent contractor or an employee. The elements are:
(1) The degree of control exercised by the alleged employer
(2) The extent of the relative investments of the worker and alleged employer
(3) The degree to which the worker's opportunity for profit and loss is determined by the alleged employer
(4) The skill and initiative required in performing the job
(5) The permanency of the relationship
(1) The degree of control exercised by the alleged employer Who sets the hours of work? Who is responsible for quality control? Does the worker have other customers? Who determined the rate of pay? Was it negotiated? Who determines how the work gets performed?
(2) The extent of the relative investments of the worker and alleged employer Does the worker supply his or her own tools? Does the worker purchase materials necessary to do the job? Has the worker invested in bonds / insurance / advertising?
(3) The degree to which the worker's opportunity for profit and loss is determined by the alleged employer Is the worker free to bring on additional workers to speed up the job? At whose expense? Does working or managing the project more efficiently increase profit for the worker...
Private Business Use. With respect to the use of the facilities financed or refinanced with the proceeds of the Bonds the Responsible Person will:
(i) monitor the date on which the facilities are substantially complete and available to be used for the purpose intended;
(ii) monitor whether, at any time the Bonds are outstanding, any person, other than the City, the employees of the City, the agents of the City or members of the general public has any contractual right (such as a lease, purchase, management or other service agreement) with respect to any portion of the facilities;
(iii) monitor whether, at any time the Bonds are outstanding, any person, other than the City, the employees of the City, the agents of the City or members of the general public has a right to use the output of the facilities (e.g., water, gas, electricity);
(iv) monitor whether, at any time the Bonds are outstanding, any person, other than the City, the employees of the City, the agents of the City or members of the general public has a right to use the facilities to conduct or to direct the conduct of research;
(v) determine whether, at any time the Bonds are outstanding, any person, other than the City, has a naming right for the facilities or any other contractual right granting an intangible benefit;
(vi) determine whether, at any time the Bonds are outstanding, the facilities are sold or otherwise disposed of; and
(vii) take such action as is necessary to remediate any failure to maintain compliance with the covenants contained in the Resolution related to the public use of the facilities.
