Arbitrage Rebate Sample Clauses

Arbitrage Rebate. As required by Section 2.8, the Company will pay to or for the account of the Authority all amounts needed to comply with the requirements of Section 148 of the Code, concerning arbitrage bonds, including Section 148(f), which requires generally a rebate payment to the United States of America of arbitrage profit from investment of the proceeds of the Bonds in obligations other than tax-exempt obligations. The obligation of the Company to make such payments is unconditional and is not limited to funds representing the proceeds of the Bonds or income from the investment thereof or any other particular source.

Arbitrage Rebate. Under Section 148(f) of the Code. With respect to the arbitrage rebate requirements of Section 148(f) of the Code, either (check applicable box):

Arbitrage Rebate. The District will take any and all actions necessary to assure compliance with Section 148(f) of the Tax Code, relating to the rebate of excess investment earnings, if any, to the federal government, to the extent that such section is applicable to the Lease Payments.

Arbitrage Rebate. The Qualified Agency shall timely take such lawful action as requested by the Executive Director to avoid or mitigate the obligation to make payments to the United States government under section 148(f) of the Code, unless an Authorized Agency Representative certifies to the Authority that the requested action is not practicable. If the Qualified Agency fails to cause Note proceeds to be expended within the time periods set forth in the Project Completion Schedule, the Executive Director may inquire as to the nature of such failure and the extent to which it is expected to continue. The Qualified Agency reasonably expects to use at least seventy-five percent (75%) of the “available construction proceeds” of any Note for “construction expenditures,” as such terms are defined in Section 1.148-7(f) of the Regulations. The Qualified Agency shall use its best efforts to expend all funds necessary to complete its Project within the two-year expenditure period set forth in section 148(f)(4)(C) of the Code as follows: (i) 10 percent of the funds within the 6-month period beginning on the date the Notes are issued; (ii) 45 percent of the funds within the 1-year period beginning on such date; (iii) 75 percent of such funds within the 18-month period beginning of such date; and (iv) 100 percent of such funds within the 2-year period beginning on such date. If a portion of the Project Completion Amount will remain unexpended as of the close of the two-year period beginning with the Closing Date (or such other period as specified by the Executive Director), the Qualified Agency, not later than the close of such period, shall notify the Executive Director of the amount of such unexpended funds and the purpose(s) for which such funds are being retained in the Project Fund after such period.

Arbitrage Rebate. Eighteen Month Exception: Pursuant to Treasury Regulations Section 1.148-7(d), the gross proceeds of this Property Schedule will be expended for the governmental purposes for which this Property Schedule was entered into, as follows: at least 15% within six months after the Commencement Date, at least 60% within 12 months after the Commencement Date, and 100% within 18 months after the Commencement Date. If ▇▇▇▇▇▇ is unable to comply with Section 1.148-7(d) of the Treasury Regulations, Lessee shall compute rebatable arbitrage on this Agreement and pay rebatable arbitrage to the United States at least once every five years, and within 60 days after payment of the final Lease Payment due under this Agreement.

Arbitrage Rebate. (a) The Company acknowledges having read Sections 5.07 and 5.08 of the Indenture and agrees to perform all duties expressly or implicitly imposed upon it by such Sections and by the Tax Regulatory Agreement referred to therein. Insofar as Sections 5.07 and 5.08 of the Indenture and the Tax Regulatory Agreement expressly or implicitly impose duties and responsibilities on the Company, they are specifically incorporated herein by reference. (b) Nothing contained in this Loan Agreement or in the Indenture shall be interpreted or construed to require the Issuer to pay the Rebate Amount, such obligations being the sole responsibility of the Company.

Arbitrage Rebate. The Lessee will timely take such lawful action as requested by the Executive Director to avoid or mitigate the Authority’s obligation to make payments to the United States government under the Arbitrage Rebate Rules, unless an Authorized Lessee Representative certifies to the Authority that the requested action is not practicable. If a portion of the gross proceeds of the Bonds will remain unexpended as of the close of the two-year period beginning with the Closing Date (or such other period as specified by the Executive Director), the Lessee, not later than the close of such period, will notify the Executive Director of the amount of such unexpended funds, the purpose(s) for which such funds are being retained in the Project Fund after such period and an expected timeline for expenditure of such amounts.

Arbitrage Rebate. The Borrower shall take or cause to be taken all actions necessary or appropriate in order to fully and timely comply with Section 148(f) of the Code and to rebate excess investment earnings to the federal government, including the employment of a Rebate Analyst acceptable to the Governmental Lender and the Funding Lender at all times from and after the Delivery Date for the calculation of rebatable amounts to the United States Treasury Department. The Borrower agrees that it will cause the Rebate Analyst to calculate the rebatable amounts not later than forty-five

Arbitrage Rebate. The Authority shall take any and all actions necessary to assure compliance with Section 148(f) of the Tax Code, relating to the rebate of excess investment earnings, if any, to the federal government, to the extent that such section is applicable to the Loan.