Approving Opinion definition

Approving Opinion means, with respect to any action relating to the Notes, an opinion delivered by Bond Counsel to the effect that such action (i) is permitted by this Agreement and the other Financing Documents and (ii) will not adversely affect the exclusion of interest on the Notes from the gross income of any Noteholder for purposes of federal income taxation.

Approving Opinion means, with respect to any action relating to the Bonds, the occurrence of which requires an Opinion of Counsel, an Opinion of Counsel delivered by Bond Counsel to the effect that such action (a) is permitted by this Agreement and the Act, and (b) will not adversely affect the exclusion of interest on the Bonds from gross income of the Owners for purposes of federal income taxation.

Approving Opinion means, with respect to any action or matter that may affect a Tax-Exempt Revolving Loan and/or the Tax-Exempt Term Loan, an opinion delivered by Bond Counsel to the effect that such action (i) is permitted by this Agreement and the other Related Documents and (ii) will not adversely affect the exclusion of interest on any Tax-Exempt Revolving Loan and/or the Tax-Exempt Term Loan from gross income of the Bank or any Participant for purposes of federal income taxation.

Examples of Approving Opinion in a sentence

• In connection with the issuance of the Bonds, we have delivered to you a copy of our approving legal opinion as Bond Counsel (the “Approving Opinion”) and you may rely upon such Approving Opinion as if such opinion were addressed to you.

• In rendering this opinion, we have examined and relied upon the matters contained, referred to and identified, and to the same extent stated, in the Approving Opinion.

• All terms used in this supplemental opinion and not defined herein shall have the same meaning as assigned in the Approving Opinion.

• Appendix C - Summary of Certain Provisions of the Loan Agreement,” “Appendix D - Summary of Certain Provisions of the Resolution” and “Appendix E - Form of Approving Opinion of Bond Counsel” have been prepared by Orrick, Herrington & Sutcliffe LLP, New York, New York, Bond Counsel.

• The consent of the Bank, if granted, shall be conditioned upon the preparation, execution and delivery of documentation in form and substance satisfactory to the Bank which shall include, but not be limited to, the delivery of an Approving Opinion.

More Definitions of Approving Opinion

Approving Opinion means an opinion of Bond Counsel addressed to the Trustee and the Agency, that an action being taken (i) is authorized by the Act and the Trust Agreement, and (ii) will not, in and of itself, adversely affect the tax exempt status of the Bonds.

Approving Opinion means an opinion of Bond Counsel that an action being taken (i) is authorized by applicable law and the Indenture, and (ii) will not adversely affect the Tax-exempt status of the Bonds.

Approving Opinion means an opinion of Bond Counsel, acceptable to the Authority, that an action being taken (i) is authorized by applicable law and this Indenture, and (ii) will not adversely affect the Tax‑exempt status of interest on the Bonds.

Approving Opinion means a written opinion of Bond Counsel, addressed to the County and the Purchaser to the effect that the new Benchmark Replacement will not, in and of itself, cause interest on the outstanding Tax-Exempt Series B Notes to be included in gross income for purposes of federal income taxation.

Approving Opinion means, with respect to any action or matter that may affect a Tax- Exempt Loan, an opinion delivered by Bond Counsel to the effect that such action (i) is permitted by this Agreement and the other Related Documents and, (ii) will not adversely affect the exclusion of interest on any Tax-Exempt Loan from gross income of the Lender or any Participant for purposes of federal income taxation.

Approving Opinion means, with respect to any action relating to any or all Tax-Exempt Loans or any or all Tax-Exempt Term Loans, an opinion delivered by Bond Counsel to the effect that such action (i) is permitted by this Agreement and the other Related Documents and (ii) will not adversely affect the exclusion of interest on such Tax-Exempt Loans or Tax-Exempt Term Loans from gross income of the Bank for purposes of federal income taxation.

Approving Opinion means an opinion delivered by Bond Counsel to the effect that such action (i) is permitted by this Agreement and the other Related Documents and (ii) will not adversely affect the exclusion of interest on any Tax-Exempt Revolving Loan from gross income of the Lender for purposes of federal income taxation.