Common use of Qualifying Costs Clause in Contracts

Qualifying Costs. Neither the Issuer nor the Company shall cause any proceeds of the Bonds to be expended, except pursuant to the Indenture and this Agreement. The Company shall not (i) requisition or otherwise allow payment out of proceeds of the Bonds (A) if such payment is to be used for the acquisition (including reimbursement therefor in compliance with the Code) of any property (or an interest therein) unless the first use of such property is pursuant to such acquisition, provided that this clause (A) shall not apply (1) to any building (and the equipment purchased as a part thereof, if any,) if the "rehabilitation expenditures", as defined in Section 147(d) of the Code, with respect to the building equal or exceed 15% of the portion of the cost of acquiring the building (including such equipment) financed with the proceeds of the Bonds, or (2) to any other property if the rehabilitation expenditures with respect thereto equal 100% of the cost of acquiring such property financed with the proceeds of the Bonds; (B) if as a result of such payment, 25% or more of the proceeds of the Bonds would be considered as having been used directly or indirectly for the acquisition of land (or an interest therein); (C) if, as a result of such payment, less than 95% of the net proceeds of the Bonds, expended at the time of such acquisition would be considered as having been used for costs of the acquisition, construction, or reconstruction or improvement of land or property of a character subject to the allowance for depreciation, within the meaning of Section 144(a)(1)(A) of the Code ("Qualifying Costs"), or (D) if such payment is used to pay issuance costs (including counsel fees and placement fees) of the Bonds in excess of an amount equal to 2% of the principal amount of the Bonds; (ii) take or omit, or permit to be taken or omitted, any other action with respect to the use of such proceeds the taking or omission of which has or would result in the loss of the exclusion of interest on the Bonds from gross income of the owners thereof for federal income tax purposes; or (iii) take or omit, or permit to be taken or omitted, any other action the taking or omission of which has or would cause the loss of such exclusion.

Qualifying Costs. Neither the Issuer nor the Company shall cause any proceeds of the Bonds to be expended, except pursuant to the Indenture and this Loan Agreement. The Company shall not (i) requisition or otherwise allow payment out of proceeds of the Bonds (A) if such payment is to be used for the acquisition (including reimbursement therefor in compliance with the Code) of any property (or an interest therein) unless the first use of such property is pursuant to such acquisition, provided that this clause (A) shall not apply (1) to any building (and the equipment purchased as a part thereof, if any,) if the "rehabilitation expenditures", ," as defined in Section 147(d) of the Code, with respect to the building equal or exceed 15% of the portion of the cost of acquiring the building (including such equipment) financed with the proceeds of the Bonds, or (2) to any other property if the rehabilitation expenditures with respect thereto equal 100% of the cost of acquiring such property financed with the proceeds of the Bonds; (B) if as a result of such payment, 25% or more of the proceeds of the Bonds would be considered as having been used directly or indirectly for the acquisition of land (or an interest therein); (C) if, as a result of such payment, less than 95% of the net proceeds of the Bonds, expended at the time of such acquisition would be considered as having been used for costs of the acquisition, construction, or reconstruction or improvement of land or property of a character subject to the allowance for depreciation, within the meaning of Section 144(a)(1)(A) of the Code ("Qualifying Costs"), or (D) if such payment is used to pay issuance costs (including counsel fees and placement fees) of the Bonds in excess of an amount equal to 2% of the principal amount of the Bonds; (ii) take or omit, or permit to be taken or omitted, any other action with respect to the use of such proceeds the taking or omission of which has or would result in the loss of the exclusion of interest on the Bonds from gross income of the owners thereof for federal income tax purposes; or (iii) take or omit, or permit to be taken or omitted, any other action the taking or omission of which has or would cause the loss of such exclusion.

Qualifying Costs. Neither the Issuer nor the Company The Borrower shall not cause any proceeds Proceeds of the Bonds to be expended, except pursuant to the Indenture and this Agreement. The Company Issuer agrees to act in accordance with its duties under the Indenture. The Borrower shall not (i) requisition or otherwise allow payment out of proceeds Proceeds of the Bonds (A) if such payment is to be used for the acquisition (including reimbursement therefor in compliance with the Code) of any property (or an interest therein) unless the first use of such property is pursuant to such acquisition, provided that this clause (A) shall not apply (1) to any building (and the equipment purchased as a part thereof, if any,) if the "“rehabilitation expenditures"”, as defined in Section 147(d) of the Code, with respect to the building equal or exceed 15% of the portion of the cost of acquiring the building (including such equipment) financed with the proceeds Proceeds of the Bonds, or (2) to any other property if the rehabilitation expenditures with respect thereto equal 100% of the cost of acquiring such property financed with the proceeds Proceeds of the Bonds; (B) if as a result of such payment, 25% or more of the proceeds Proceeds of the Bonds would be considered as having been used directly or indirectly for the acquisition of land (or an interest therein); (C) if, as a result of such payment, less than 95% of the net proceeds Net Proceeds of the Bonds, expended at the time of such acquisition would be considered as having been used for (1) costs of the acquisition, construction, or reconstruction or improvement of land or property of a character subject to the allowance for depreciation, within the meaning of that constitute capital expenditures as defined in Section 144(a)(1)(A1.150-1(b) of the Code Regulations; or ("2) costs associated with facilities that will be used solely for the collection, storage, treatment, utilization, processing or final disposal of solid waste or (3) costs for land, buildings or other property that is functionally related or subordinate to such property (“Qualifying Costs"”), ; (D) if paid prior to the Issuance Date and fails to satisfy the reimbursement rules under Section 1.150-2 of the Regulations; or (DE) if such payment is used to pay issuance costs (including counsel fees and placement fees) Costs of Issuance of the Bonds in excess of an amount equal to 2% of the principal amount Sale Proceeds of the Bonds; (ii) take or omit, or permit to be taken or omitted, any other action with respect to the use of such proceeds Proceeds the taking or omission of which has or would result in the loss of Tax-exempt status of the exclusion of interest on the Bonds from gross income of the owners thereof for federal income tax purposesBonds; or (iii) take or omit, or permit to be taken or omitted, any other action the taking or omission of which has or would cause the loss of such exclusionTax-exempt status of the interest on the Bonds.

Qualifying Costs. Neither the Issuer nor the Company The Borrower shall not cause any proceeds Proceeds of the Bonds to be expended, except pursuant to the Indenture and this Agreement. The Company Issuer agrees to act in accordance with its duties under the Indenture. The Borrower shall not (i) requisition or otherwise allow payment out of proceeds Proceeds of the Bonds (A) if such payment is to be used for the acquisition (including reimbursement therefor in compliance with the Code) of any property (or an interest therein) unless the first use of such property is pursuant to such acquisition, provided that this clause (A) shall not apply (1) to any building (and the equipment purchased as a part thereof, if any,) if the "“rehabilitation expenditures"”, as defined in Section 147(d) of the Code, with respect to the building equal or exceed 15% of the portion of the cost of acquiring the building (including such equipment) financed with the proceeds Proceeds of the Bonds, or (2) to any other property if the rehabilitation expenditures with respect thereto equal 100% of the cost of acquiring such property financed with the proceeds Proceeds of the Bonds; (B) if as a result of such payment, 25% or more of the proceeds Proceeds of the Bonds would be considered as having been used directly or indirectly for the acquisition of land (or an interest therein); (C) if, as a result of such payment, less than 95% of the net proceeds Net Proceeds of the Bonds, expended at the time of such acquisition would be considered as having been used for (1) costs of the acquisition, construction, or reconstruction or improvement of land or property of a character subject to the allowance for depreciation, within the meaning of that constitute capital expenditures as defined in Section 144(a)(1)(A1.150-1(b) of the Code Regulations; or ("2) costs associated with facilities that will be used solely for the collection, storage, treatment, utilization, processing or final disposal of solid waste or (3) costs for land, buildings or other property that is functionally related or subordinate to such property (“Qualifying Costs"”), ; (D) if paid prior to the Issuance Date and fails to satisfy the reimbursement rules under Section 1.150-2 of the Regulations; or (DE) if such payment is used to pay issuance costs (including counsel fees and placement fees) Costs of Issuance of the Bonds Bonds, for an aggregate amount in excess of an amount equal to 2% of the principal amount Sale Proceeds of the Bonds; (ii) take or omit, or permit to be taken or omitted, any other action with respect to the use of such proceeds Proceeds the taking or omission of which has or would result in the loss of Tax-exempt status of the exclusion of interest on the Bonds from gross income of the owners thereof for federal income tax purposesBonds; or (iii) take or omit, or permit to be taken or omitted, any other action the taking or omission of which has or would cause the loss of such exclusionTax-exempt status of the interest on the Bonds.

Qualifying Costs. Neither the Issuer nor the Company The Borrower shall not cause any proceeds Proceeds of the Bonds to be expended, except pursuant to the Indenture and this Agreement. The Company Issuer agrees to act in accordance with its duties under the Indenture. The Borrower shall not (i) requisition or otherwise allow payment out of proceeds the Proceeds of the Bonds (A) if such payment is to be used for the acquisition (including reimbursement therefor in compliance with the Code) of any property (or an interest therein) unless the first use of such property is pursuant to such acquisition, provided that this clause (A) shall not apply (1) to any building (and the equipment purchased as a part thereof, if any,) if the "“rehabilitation expenditures"”, as defined in Section 147(d) of the Code, with respect to the building equal or exceed 15% of the portion of the cost of acquiring the building (including such equipment) financed with the proceeds Proceeds of the Bonds, or (2) to any other property if the rehabilitation expenditures with respect thereto equal 100% of the cost of acquiring such property financed with the proceeds Proceeds of the Bonds; (B) if as a result of such payment, 25% or more of the proceeds Proceeds of the Bonds would be considered as having been used directly or indirectly for the acquisition of land (or an interest therein); (C) if, as a result of such payment, less than 95% of the net proceeds Net Proceeds of the Bonds, expended at the time of such acquisition would be considered as having been used for costs of the acquisition, construction, or reconstruction or improvement of land or property of a character subject to the allowance for depreciation, within the meaning of depreciation provided in Section 144(a)(1)(A) 167 of the Code or costs that constitute ("1) costs associated with facilities that will be used solely for the collection, storage, treatment, utilization, processing or final disposal of solid waste or (2) costs for land, buildings or other property that is functionally related or subordinate to such property (“Qualifying Costs"”), or (D) if such payment is used to pay issuance costs (including counsel fees and placement fees) Costs of Issuance of the Bonds in excess of an amount equal to 2% of the principal amount Sale Proceeds of the Bonds; (ii) take or omit, or permit to be taken or omitted, any other action with respect to the use of such proceeds Proceeds the taking or omission of which has or would result in the loss of the exclusion of interest on the Bonds from gross income of the owners thereof for federal income tax purposes; or (iii) take or omit, or permit to be taken or omitted, any other action the taking or omission of which has or would cause the loss of such exclusion.