Project Users. (i) (A) Prior to leasing, subleasing or consenting to the subleasing or assignment of any lease of all or any part of the Project Facilities, during the period commencing on the date hereof and terminating three years after the Company has completed the acquisition, construction, reconstruction or improvement of all or substantially all of such Project Facilities, and (B) upon the request of the Authority from time to time thereafter, the Company shall cause a Project Occupant Information Form to be submitted to the Authority by every prospective lessee, sublessee or lease assignee of the Project Facilities. (ii) The Company shall not permit any such leasing, subleasing or assigning of leases that would impair the Income Exclusion, or that would impair the ability of the Company to operate any Project Facility or cause any Project Facility not to be operated as an authorized project under the Act.
Appears in 1 contract
Samples: Loan Agreement (Middlesex Water Co)
Project Users. (i) (A) Prior to leasing, subleasing or consenting to the subleasing or assignment of any lease of all or any part of the Project FacilitiesProjects, during the period commencing on the date hereof and terminating three years after the Company has completed the acquisition, construction, reconstruction or improvement renovation and construction of all or substantially all of such Project FacilitiesProjects, and (B) upon the request of the Authority from time to time thereafter, the Company shall cause a Project Occupant Information Form to be submitted to the Authority by every prospective lessee, sublessee or lease assignee of the Project FacilitiesProjects.
(ii) The Company shall not permit any such leasing, subleasing or assigning of leases that would impair the Income Exclusion, or that would impair the ability of the Company to operate any Project Facility or cause any Project Facility not to be operated as an authorized project under the Act.
Appears in 1 contract
Samples: Loan Agreement (Middlesex Water Co)
Project Users. (i) (A) Prior to leasing, subleasing or consenting to the subleasing or assignment of any lease of all or any part of the Project FacilitiesProject, during the period commencing on the date hereof and terminating three years after the Company Borrower has completed the acquisition, construction, reconstruction or improvement renovation and construction of all or substantially all of such Project Facilitiesthe Project, and (Bii) upon the request of the Authority from time to time thereafter, the Company Borrower shall cause a Project Occupant Information Form to be submitted to the Authority by every prospective lessee, sublessee or lease assignee of the Project Facilities.
(ii) Project. The Company Borrower shall not permit any such leasing, subleasing or assigning of leases that would impair the Income Exclusionexcludability of interest paid on the Bond from the gross income of the Holder thereof for purposes of federal income taxation, or that would impair the ability of the Company Borrower to operate any the Project Facility or cause any the Project Facility not to be operated as an authorized project under the Act.
Appears in 1 contract
Project Users. (i) (Aa) Prior to leasing, subleasing or consenting to the subleasing or assignment of any lease of all or any part of the Project FacilitiesProject, during the period commencing on the date hereof and terminating three years after the Company Borrower has completed the acquisition, construction, reconstruction or improvement renovation and construction of all or substantially all of such Project Facilitiesthe Project, and and
(Bb) upon the request of the Authority from time to time thereafter, the Company Borrower shall cause a Project Occupant Information Form to be submitted to the Authority by every prospective lessee, sublessee or lease assignee of the Project Facilities.
(ii) Project. The Company Borrower shall not permit any such leasing, subleasing or assigning of leases that would impair the Income Exclusionexcludability of interest paid on the Bond from the gross income of the Purchaser thereof for purposes of federal income taxation, or that would impair the ability of the Company Borrower to operate any the Project Facility or cause any the Project Facility not to be operated as an authorized project under the Act.
Appears in 1 contract
Samples: Bond Agreement (NeoStem, Inc.)