Exempt Period definition
Examples of Exempt Period in a sentence
Upon delivery of written notice (“Exemption Notice”) to the Depository Institutions at least two years prior to the beginning of the Exempt Period (as defined below), the Broker-Dealers may during the five year period prior to the expiration of the term of this Agreement as determined pursuant to Section 14(a) (such five year period, the “Exempt Period”) establish new Fixed Rate Obligation Amounts (the “Exempt Fixed Rate Obligation Amounts”) that comply with the requirements set forth in Section 5.
Issuer hereby agrees to use best faith efforts to obtain the issuance of an order from the Board of Tax Appeals approving tax abatement on the Bond Financed Portion of the Project for the Exempt Period such that 100% of the Bond Financed Portion of the Project is Exempt Property.
Company hereby represents that the Project is not included within the list of prohibited purposes listed in K.S.A. 79-250 and agrees that during the Exempt Period, the Project Site will not be used for any such purposes.
Each Exempt Period shall commence upon receipt by ABL and the Underwriting Manager of notice from the Board that the Board has determined (after consultation with the Underwriting Committee) that the Company’s resources are insufficient to underwrite Covered Contracts.
The City and the Company acknowledge that, prior to the Project being determined to be Exempt Property, the City must obtain on behalf of the Company an order from the Board of Tax Appeals approving tax abatement on the Project for the Exempt Period.