Rebate Account. The Obligor covenants and agrees that it will maintain on its books and records a "Rebate Account" detailing, in writing, compliance with Section 2.3 hereof. Any moneys deposited into the Rebate Account shall be disbursed in accordance with Section 2.3 hereof.
Rebate Account. The Collateral Trustee shall deposit amounts into the Rebate Account from amounts on deposit in the Revenue Account as specified in Section 8.8(a)(i).
Rebate Account. The Rebate Account is established in Section 4.01(a) of the MSA. Any moneys of the Concessionaire deposited in the Rebate Account from time to time and not constituting Gross Proceeds of the Series 2014 Bonds, together with any Investment earnings on such moneys, may be invested without regard to investment yield limitation, and any such earnings are not subject to the Rebate Requirement described herein. Investment Proceeds of the Series 2014 Bonds deposited in the Rebate Account may be invested without regard to investment yield limitation for a period of one year beginning on the date of receipt thereof and thereafter at a yield not in excess of the Bond Yield. Investment of such Proceeds of the Series 2014 Bonds in the Rebate Account is subject to the Rebate Requirement described herein. No Sale Proceeds of the Series 2014 Bonds will be deposited to the Rebate Account.
Rebate Account. (a) Upon receipt of a Written Request of the Authority, the Trustee shall establish and maintain a special account designated the “Rebate Account.” There shall be deposited in the Rebate Account such amounts as are required to be deposited therein pursuant to the Tax Certificate, as specified in a Written Request of the Authority. All money at any time deposited in the Rebate Account shall be held by the Trustee in trust, to the extent required to satisfy the Rebate Requirement, for payment to the United States of America. Notwithstanding defeasance of the Bonds pursuant to Article X hereof or anything to the contrary contained herein, all amounts required to be deposited into or on deposit in the Rebate Account shall be governed exclusively by this Section and by the Tax Certificate (which is incorporated herein by reference). The Trustee shall be deemed conclusively to have complied with such provisions if it follows the written directions of the Authority, and shall have no liability or responsibility to enforce compliance by the Authority with the terms of the Tax Certificate. The Trustee may conclusively rely upon the Authority’s determinations, calculations and certifications required by the Tax Certificate. The Trustee shall have no responsibility to independently make any calculation or determination or to review the Authority’s calculations.
Rebate Account. (a) Upon the delivery by the Borrower of a certificate to the Collateral Trustee and the Administrative Agent that amounts previously distributed into the Rebate Account in respect of a potential rebate are now due and payable, the Collateral Trustee shall distribute, from the cash available in the Rebate Account, (A) directly to each Person to which an amount in excess of $200,000 is due and payable, the amounts then due and owing identified in the certificate referred to above, and (B) to the Borrower for the benefit of the Persons entitled thereto, all other amounts then due and owing identified in such certificate.
Rebate Account. A special fund is hereby created and designated as the Rebate Account. The Borrower shall transfer or cause to be transferred by the Escrow Agent from the Rebate Fund at such times and to such person as required by Section 148 of the Code an amount equal to the Rebate Amount. Amounts in the Rebate Account shall be exempt from the lien of this Bond Agreement. To the extent such amounts on deposit in the Rebate Account are not sufficient to meet the Rebate Amount, the amount of the deficiency shall be immediately paid by the Borrower to the Escrow Agent for deposit in the Rebate Account. Notwithstanding anything contained in this Bond Agreement to the contrary, neither the Authority nor the Escrow Agent shall be responsible or liable for any loss, liability, or expense incurred to the extent incurred as a result of the failure of the Borrower to fulfill its obligations with respect to the calculation and payment of the Rebate Amount. The Authority and Escrow Agent shall be entitled to rely conclusively upon the calculations provided by the Borrower. The Escrow Agent, at the direction of the Borrower given in accordance with this Bond Agreement, shall apply or cause to be applied the amounts in the Rebate Account at the times and in the amounts required by Section 148 of the Code solely for the purpose of paying the United States of America in accordance with Section 148 of the Code. Moneys held in the Rebate Account shall be invested and reinvested upon the written direction of the Borrower by the Escrow Agent in Investment Obligations that mature at such times specified in such written direction, which times shall be not later than such times as shall be necessary to provide moneys when needed for the payments to be made from such Rebate Account and in accordance with the provisions hereof. The interest earned on any moneys or investments in the Rebate Account shall be retained in such Account. Notwithstanding the final payment of the Loan, moneys held in the Rebate Account shall be held by the Escrow Agent until the Rebate Amount has been paid or until the Borrower has provided the Escrow Agent with a report of a Rebate Expert as required by Section 9.03 of this Agreement showing that no Rebate Amount is owed.
Rebate Account. The Trustee shall deposit in the Rebate Account (which account is established as a separate account to be held by the Trustee) from time to time, as set forth in this Indenture, an amount determined by the Authority to be subject to rebate to the United States of America in accordance with Section 5.07(h). Amounts in the Rebate Account shall be applied and disbursed by the Trustee solely for the purposes and at the times set forth in written requests of the Authority filed with the Trustee pursuant to Section 5.07(h). The Trustee shall not be responsible for calculating rebate amounts or for the adequacy or correctness of any rebate report or rebate calculations. The Trustee shall be deemed conclusively to have complied with the provisions of the Indenture and any other agreement relating to the Bonds regarding calculation and payment of rebate if it follows the directions of the Authority and it shall have no independent duty to review such calculations or enforce the compliance with such rebate requirements by the Authority.
Rebate Account
