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.

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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.

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.

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.

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

• With the prior written consent of the Issuer, any Person who purchases the Project upon foreclosure may assume the Borrower’s rights, duties and obligations hereunder by delivering to the Issuer and the Purchaser, (a) a written assumption of such rights, duties and obligations satisfactory in form and substance to the Issuer and the Purchaser, and (b) an Approving Opinion, satisfactory in form and substance to the Issuer and the Purchaser.

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

Approving Opinion means an opinion of Note Counsel (addressed and delivered to the Authority and the Trustee) that an action being taken (i) is authorized by the Act and this Indenture and complies with the terms of the Agreement, if applicable, and (ii) will not, in and of itself, adversely affect the Tax-Exempt status of the Authority Notes.

Approving Opinion means an Opinion of Bond Counsel to the effect that an action being taken