Rebate Requirement. The District shall take any and all actions necessary to assure compliance with section 148(f) of the Tax Code, relating to the rebate of excess investment earnings, if any, to the federal government, to the extent that such section is applicable to the Lease.
Rebate Requirement. The Governmental Lender shall take any and all actions necessary to assure compliance with Section 148(f) of the Code, relating to the rebate of excess investment earnings, if any, to the federal government, to the extent that such section is applicable to the Governmental Lender Note.
Rebate Requirement. The City will take any and all actions necessary to assure compliance with section 148(f) of the Code, relating to the rebate of excess investment earnings, if any, to the federal government, to the extent that such section is applicable to the Authority Bonds.
Rebate Requirement. The County shall take any and all actions necessary to assure compliance with section 148(f) of the Tax Code, relating to the rebate of excess investment earnings, if any, to the federal government, to the extent that such section is applicable to the Certificate and the Installment Sale Agreement.
Rebate Requirement. (a) At its sole expense on behalf of the Issuer, the Company shall determine and pay to the United States the Rebate Amount, hereinafter defined, as and when due in accordance with the "rebate requirement" described in Section 148(f) of the Code and Regulations thereunder, including without limitation, Regulations Section 1.148-3. The Company shall retain records of all such determinations until six years after Payment of the Bonds.
(b) Reference is made to Exhibit B hereto for additional details of the rebate requirement. Exhibit B may be amended or substituted without compliance with Article XI of the Indenture or Section 8.3 hereof and without any action of the Issuer upon the Company's delivery to the Trustee of the proposed amendment or substitution together with an opinion of Bond Counsel that compliance with this section and Exhibit B, as amended, will not adversely affect the exclusion of interest on the Bonds from gross income for federal income tax purposes.
(c) Notwithstanding anything contained herein to the contrary, no such payment will be required if the Company receives and delivers to the Issuer and the Trustee an opinion of Bond Counsel that such payment is not required under the Code to prevent any Bonds from becoming "arbitrage bonds" within the meaning of Section 148 of the Code.
(d) The Issuer shall not be liable to the Company by way of contribution, indemnification, counterclaim, set-off or otherwise for any payment made or expense incurred by the Company pursuant to this section or the Indenture.
Rebate Requirement. The term “
Rebate Requirement. (a) At its sole expense on behalf of the Authority, the Corporation shall determine and pay to the United States the Rebate Amount as and when due in accordance with the "rebate requirement" described in Section 148(f) of the Code. The Corporation shall retain records of all such determinations until six (6) years after Payment of the Bonds.
(b) Reference is made to Exhibit C hereto for additional details of the rebate requirement. Exhibit C may be amended or substituted without compliance with Article XII of the Indenture or Section 8.3 hereof and without any action of the Authority upon the Corporation's delivery to the Trustee of the proposed amendment or substitution together with an Opinion of Bond Counsel that compliance with this Section 4.6 and Exhibit C, as amended, will not be an Adverse Tax Action.
(c) Notwithstanding anything contained herein to the contrary, no such payment need be made if the Corporation receives and delivers to the Trustee an Opinion of Bond Counsel that such payment is not required under the Code to prevent any Bonds from becoming "arbitrage bonds" within the meaning of Section 148 of the Code.
(d) The Authority shall not be liable to the Corporation by way of contribution, indemnification, counterclaim, set-off or otherwise for any payment made or expense incurred by or on behalf of the Corporation pursuant to this Section 4.6.
(e) The Authority covenants that, if so requested by the Corporation, it shall execute any form required to be signed by an issuer of tax-exempt bonds in connection with the payment of any rebatable arbitrage (including Internal Revenue Service Form 8038-T). The Corporation shall supply all information required to be stated on such form and shall prepare such form. Except for the execution and delivery of such form upon timely presentation by the Corporation, the Authority shall have no responsibility for such form or the information stated thereon.
Rebate Requirement. The District shall take any and all actions necessary to assure compliance with section 148(f) of the Code, relating to the rebate of excess investment earnings, if any, to the federal government, as applicable to the Bonds and the Prior Bonds. The District may use investment earnings on amounts in the Redemption Fund or amounts on deposit in the Reserve Fund or the Administrative Expense Fund to satisfy any rebate liability to the federal government.
Rebate Requirement. The Borrower shall take any and all actions necessary to assure compliance with section 148(f) of the Code, relating to the rebate of excess investment earnings, if any, to the federal government, to the extent that such section is applicable to the Governmental Lender Note.
Rebate Requirement. The Lessee will take any and all actions necessary to assure compliance with Section 148(f) of the Code, relating to the rebate of excess investment earnings, if any, to the federal government, to the extent that such section is applicable to the Leases, the Escrow Agreements and this Agreement.
