Common use of Tax-Exempt Status of the Bonds Clause in Contracts

Tax-Exempt Status of the Bonds. (a) The Company hereby represents, warrants and agrees that the Representation Letter is true, accurate, and, to the knowledge of the Company, complete in all material respects as of the date on which executed and delivered. (b) The Company hereby represents, warrants and agrees that it has not taken and does not intend to take any action or omit to take any action, and knows of no action that any other person, firm or corporation has taken or intends to take, which would cause interest on the Bonds to be includable in the gross income of the recipients thereof for federal income tax purposes (except any Bond for any period during which such Bond is held by a “substantial user” of a facility refinanced with the proceeds of the Bonds or a “related person” as such terms are defined in Section 147(a) of the Code).

Tax-Exempt Status of the Bonds. (a) The Company hereby represents, warrants and agrees that the Representation Letter is true, accurate, and, to the knowledge of the Company, and complete in all material respects as of the date on which executed and delivered. (b) The Company hereby represents, warrants and agrees that it has not taken and does not intend to take any action or omit to take any action, and knows of no action that any other person, firm or corporation has taken or intends to take, which would cause interest on the Bonds to be includable in the gross income of the recipients thereof for federal income tax purposes (except any Bond for any period during which such Bond is held by a “substantial user” of a facility refinanced with the proceeds of the Bonds or a “related person” as such terms are defined in Section 147(a) of the Code).