Tax-Exempt Interest Related Covenants, Representations and Warranties. Lessee hereby covenants, represents and warrants as follows: (a) The estimated total costs of the Equipment listed in this Schedule, together with any costs of entering into this Schedule that are expected to be financed hereunder, will not be less than the total principal portion of the Rental Payments listed in this Schedule. (b) The Equipment listed in this Schedule has been ordered or is expected to be ordered within six months of the Commencement Date of this Schedule, and the Equipment is expected to be delivered, and the Vendor fully paid, within eighteen months of the Commencement Date of this Schedule. (c) Lessee has not created or established, and does not expect to create or establish, any sinking fund or other similar fund (i) that is reasonably expected to be used to pay the Rental Payments listed in this Schedule, or (ii) that may be used solely to prevent a default in the payment of the Rental Payments listed in this Schedule. (d) The Equipment listed in this Schedule has not been and is not expected to be sold or otherwise disposed of by Lessee, either in whole or in major part, prior to the last maturity of the Rental Payments listed in this Schedule. (e) Lessee has not been notified of any listing or proposed listing of it by the Internal Revenue Service as an issuer whose arbitrage certificates may not be relied upon. (f) Lessee will comply with all applicable provisions of the Internal Revenue Code of 1986, as amended, including without limitation Sections 103, 141 and 148 thereof, and the applicable regulations of the Treasury Department to maintain the exclusion of the interest components of Rental Payments from gross income for purposes of federal income taxation. (g) To the best of Xxxxxx’s knowledge, information and belief, the above expectations are reasonable.
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Samples: Master Equipment Lease Purchase Agreement, Master Equipment Lease Purchase Agreement
Tax-Exempt Interest Related Covenants, Representations and Warranties. Lessee hereby covenants, represents and warrants as follows:
(a) The estimated total costs of the Equipment listed in this Schedule, together with any costs of entering into this Schedule that are expected to be financed hereunderunder this Schedule, will not be less than the total principal portion of the Rental Payments listed in this Schedule.
(b) The Equipment listed in this Schedule has been ordered or is expected to be ordered within six months of the Commencement Date commencement of this Schedule, and the Equipment is expected to be delivereddelivered and installed, and the Vendor fully paid, within eighteen months of the Commencement Date commencement of this Schedule.
(c) Lessee has not created or established, and does not expect to create or establish, any sinking fund or other similar fund (i) that is reasonably expected to be used to pay the Rental Payments listed in this Schedule, or (ii) that may be used solely to prevent a default in the payment of the Rental Payments listed in this Schedule.
(d) The Equipment listed in this Schedule has not been and is not expected to be sold or otherwise disposed of by Lessee, either in whole or in major part, prior to the last maturity of the Rental Payments listed in this Schedule.
(e) To the best of Xxxxxx’s knowledge, information and belief, the above expectations are reasonable.
(f) Lessee has not been notified of any listing or proposed listing of it by the Internal Revenue Service as an issuer whose arbitrage certificates may not be relied upon.
(fg) Lessee will comply with all applicable provisions of the Internal Revenue Code of 1986, as amended, including without limitation Sections 103, 141 and 148 thereof, and the applicable regulations of the Treasury Department to maintain the exclusion of the interest components of Rental Payments from gross income for purposes of federal income taxation.
(g) To the best of Xxxxxx’s knowledge, information and belief, the above expectations are reasonable.
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Tax-Exempt Interest Related Covenants, Representations and Warranties. Lessee hereby covenants, represents and warrants as follows:
(a) The estimated total costs of the Equipment Personal Property listed in this Schedule, together with any costs of entering into this Schedule that are expected to be financed hereunderunder this Schedule, will not be less than the total principal portion component of the Rental Payments listed in this Schedule.
(b) The Equipment Personal Property listed in this Schedule has been ordered or is expected to be ordered within six months of the Commencement Date commencement of this Schedule, and the Equipment Personal Property is expected to be delivereddelivered and installed, and the Vendor fully paid, within eighteen months of the Commencement Date commencement of this Schedule.
(c) Lessee has not created or established, and does not expect to create or establish, any sinking fund or other similar fund (i) that is reasonably expected to be used to pay the Rental Payments listed in this Schedule, or (ii) that may be used solely to prevent a default in the payment of the Rental Payments listed in this Schedule.
(d) The Equipment Personal Property listed in this Schedule has not been and is not expected to be sold or otherwise disposed of by Lessee, either in whole or in major part, prior to the last maturity of the Rental Payments listed in this Schedule.
(e) To the best of Xxxxxx’s knowledge, information and belief, the above expectations are reasonable.
(f) Lessee has not been notified of any listing or proposed listing of it by the Internal Revenue Service as an issuer whose arbitrage certificates may not be relied upon.
(fg) Lessee will comply with all applicable provisions of the Internal Revenue Code of 1986, as amended, including without limitation Sections 103, 141 and 148 thereof, and the applicable regulations of the Treasury Department to maintain the exclusion of the interest components of Rental Payments from gross income for purposes of federal income taxation.
(gh) To [Lessee to mark “X” here if the best following provision IS applicable: X ] [Lessee to mark “X” if the following provision IS NOT applicable: ] Lessee hereby designates the Lease and this related Schedule as a “qualified tax-exempt obligation” as defined in Section 265(b)(3)(B) of Xxxxxx’s knowledgethe Code. The aggregate face amount of all tax-exempt obligations (excluding private activity bonds other than qualified 501(c)(3) bonds) issued or to be issued by Lessee and all subordinate entities thereof during the current calendar year is not reasonably expected to exceed $10,000,000. Lessee and all subordinate entities thereof will not issue or enter into in excess of $10,000,000 of tax-exempt obligations (including the Lease and this related Schedule, information but excluding private activity bonds other than qualified 501(c)(3) bonds) during the current calendar year, without first obtaining an opinion of nationally recognized counsel in the area of tax-exempt municipal obligations acceptable to Lessor that the designation of the Lease and belief, the above expectations are reasonablethis related Schedule as a “qualified tax-exempt obligation” will not be adversely affected.
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