Common use of Representations and Covenants Regarding “Arbitrage Bonds” Clause in Contracts

Representations and Covenants Regarding “Arbitrage Bonds”. The Grantee shall not directly or indirectly use or permit the use of any of the Grant Amount or any other funds, or take any action or omit to take any action, which would cause any Lottery Bonds to be “arbitrage bonds” within the meaning of 26 U.S.C. Section 148(a).

Representations and Covenants Regarding “Arbitrage Bonds”. The Grantee shall not directly or indirectly use or permit the use of any of the Grant Amount Financing Proceeds or any other funds, funds or take any action or omit to take any action, which would cause any Lottery Bonds to be “arbitrage bonds” within the meaning of 26 U.S.C. Section 148(a).

Representations and Covenants Regarding “Arbitrage Bonds”. The Successor Grantee shall not directly or indirectly use or permit the use of any of the Grant Amount or any other funds, or take any action or omit to take any action, which would cause any Lottery Bonds to be “arbitrage bonds” within the meaning of 26 U.S.C. Section 148(a).