Common use of Calculation of Rebate Amount Clause in Contracts

Calculation of Rebate Amount. (a) ss. 148(f) of the Code requires the payment to the United States of the Rebate Amount. Except as provided below, the Revenue Fund, the Project Fund, the Costs of Issuance Fund, the Rebate Fund and all other funds or accounts treated as containing Gross Proceeds, are subject to this rebate requirement. (b) In accordance with the requirements set out in the Code and pursuant to the Indenture, the Issuer has created the Rebate Fund, to be held by the Trustee, in its capacity as Trustee under the Indenture, and used as provided in this Section. (i) On or before 25 days following each Computation Date, upon the Borrower's written direction, an amount shall be deposited to the Rebate Fund by the Trustee from source or sources stated in such direction so that the balance of the Rebate Fund shall equal the aggregate Rebate Amount as of such determination date. (ii) Amounts deposited in the Rebate Fund shall be invested in accordance with the Investment Instructions by the Trustee at the written direction of the Borrower. (iii) All money at any time deposited in the Rebate Fund shall be held by the Trustee, to the extent required by this Tax Regulatory Agreement and the Indenture, for payment to the United States of America of the Rebate Amount. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Tax Regulatory Agreement. (iv) For purposes of crediting amounts to the Rebate Fund or withdrawing amounts from the Rebate Fund, Nonpurpose Investments shall be valued in the manner provided in this Article. (c) In order to meet the rebate requirement of ss. 148(f) of the Code, the Borrower agrees and covenants to take, or cause to be taken by the Trustee or the Rebate Analyst described in Section 4.06 hereof, as appropriate, the following actions: (i) For each Investment of amounts held with respect to the Bonds in (A) the Revenue Fund, (B) the Purchase Fund, (C) the Project Fund, (D) the Costs of Issuance Fund and (E) the Rebate Fund, the Trustee shall record the purchase date of such Investment, its purchase price, accrued interest due on its purchase date, its face amount, its coupon rate, its Yield, the frequency of its interest payment, its disposition price, accrued interest due on its disposition date and its disposition date. The Rebate Analyst retained by the Borrower shall determine the Fair Market Value for such Investments and the Yield thereon as may be required by the Regulations. The Yield for an Investment shall be calculated by using the method set forth in the Regulations. (ii) For each Computation Date specified in paragraph (iii) below, the Rebate Analyst shall compute the Yield on the Bonds as required by the Regulations based on the definition of issue price contained in Section 148(h) of the Code and the Regulations. The Bonds are a variable rate issue and accordingly the yield on the Bonds cannot be determined at this time. The Yield on the Bonds shall be calculated by the Rebate Analyst at such time in order to comply with this Tax Regulatory Agreement and the Regulations based on the definitions of issue price contained in Section 148(h) of the Code using payments or prepayments of the principal of, premium, if any, and interest on the Bonds required by the Regulations. For purposes of this Tax Regulatory Agreement the initial offering price to the public (not including bond houses and brokers, or similar persons or organizations acting in the capacity of underwriters or wholesalers) at which a substantial amount of the Bonds were sold is the Issue Price. Any reasonable amounts paid for credit enhancement have been and may generally be treated as interest on the Bonds for purposes of Yield computation to the extent permitted by the Regulations. (iii) Subject to the special rules set forth in paragraphs (iv) and (v) below, the Rebate Analyst shall determine the amount of earnings received on all Nonpurpose Investments described in paragraph (i) above, for each Computation Date. In addition, where Nonpurpose Investments are retained by the Trustee after retirement of the Bonds, any unrealized gains or losses as of the date of retirement of the Bonds must be taken into account in calculating the earnings on such Nonpurpose Investments to the extent required by the Regulations. (iv) In determining the Rebate Amount computed pursuant to this Section, (A) all earnings on any bona fide debt service fund (including the Revenue Fund and the Purchase Fund) shall not be taken into account for any Bond Year during which the gross earnings of such funds total less than $100,000, (B) the Universal Cap applicable to the Bonds pursuant to ss. 1.148-6(b)(2) of the Regulations shall be taken into account, (C) all of the Borrower's elections and other choices set forth in Section 4.01 hereof shall be taken into account and (D) all spending exceptions to rebate met by the Borrower shall be taken into account. (v) For each Computation Date specified in paragraph (iii) above, the Rebate Analyst shall calculate for each Investment described in paragraphs (i) and (iii) above, an amount equal to the earnings which would have been received on such Investment at an interest rate equal to the Yield on the Bonds as described in paragraph (ii) above. The method of calculation shall follow that set forth in the Regulations. (vi) For each Computation Date, the Rebate Analyst shall determine the amount of earnings received on all Investments held in the Rebate Fund for the Computation Date. The method of calculation shall follow that set forth in the Regulations. (vii) For each Computation Date, the Rebate Analyst shall calculate the Rebate Amount, by any appropriate method to be described in the Code and Regulations applicable or which becomes applicable to the Bonds. The determination of the Rebate Amount shall account for the amount (to be rounded down to the nearest multiple of $100) equal to the sum of all amounts determined in paragraph (iii), all amounts determined in paragraphs (v) and (vi), and less any amount which has previously been paid to the United States pursuant to Section 4.04 below. The Rebate Analyst shall notify the Trustee of the Rebate Amount. (viii) If the Rebate Amount exceeds the amount on deposit in the Rebate Fund, the Borrower shall immediately pay such amount to the Trustee for deposit into the Rebate Fund.

Calculation of Rebate Amount. (a) ss. Section 148(f) of the Code (formerly Section 103(a)(6) of the 1954 Code) requires the payment to the United States of the Rebate Amountexcess of the aggregate amount earned on the investment of Gross Proceeds in Nonpurpose Investments over the amount that would have been earned on such investments had the amount so invested been invested at a rate equal to the Yield on the Bonds, together with any income attributable to such excess. Except as provided below, all the Revenue Fund, funds and accounts established under the Project Fund, the Costs of Issuance Fund, the Rebate Fund and all other funds or accounts treated as containing Gross Proceeds, Indenture are subject to this rebate requirement. (b) In accordance with the requirements set out in the Code and pursuant to the Indenture, the Issuer has created the Rebate Fund, to be held by the Trustee, in its capacity as Trustee under the Indenture, and used as provided in this Section. (i) On or before 25 days following each Computation Date, upon the Borrower's written direction, an amount shall be deposited to the Rebate Fund by the Trustee from source or sources stated in such direction so that the balance of the Rebate Fund shall equal the aggregate Rebate Amount as of such determination date. (ii) Amounts deposited in the Rebate Fund shall be invested in accordance with the Investment Instructions by the Trustee at the written direction of the Borrower. (iii) All money at any time deposited in the Rebate Fund shall be held by the Trustee, to the extent required by this Tax Regulatory Agreement and the Indenture, for payment to the United States of America of the Rebate Amount. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Tax Regulatory Agreement. (iv) For purposes of crediting amounts to the Rebate Fund or withdrawing amounts from the Rebate Fund, Nonpurpose Investments shall be valued in the manner provided in this Article. (c) In order to meet the rebate requirement requirements of ss. such Section 148(f) of the Code), the Borrower Company agrees and covenants to take, or cause to be taken by the Trustee or the Rebate Analyst described in Section 4.06 hereof, as appropriate, take the following actions: (iA) For each Investment investment of amounts held with respect to the Bonds in (A) the Revenue Fund, (B) various funds and accounts established under the Purchase Fund, (C) the Project Fund, (D) the Costs of Issuance Fund and (E) the Rebate FundIndenture, the Trustee Company shall record the purchase date of such Investmentinvestment, its purchase price, its Fair Market Value, accrued interest due on its purchase date, its face amount, its coupon rate, its Yieldyield to maturity, the frequency of its interest paymentpayments, its disposition price, accrued interest due on its disposition date price and its disposition date. The Rebate Analyst retained by yield to maturity for an investment means that discount rate, based on semiannual compounding, which, when used to determine the Borrower shall determine present value on the purchase date of such investment, or the date on which the investment becomes a Nonpurpose Investment, whichever is later, of all payments of principal and interest on such investment, gives an amount equal to the Fair Market Value for of such Investments and the Yield thereon as may be required by the Regulations. The Yield for an Investment shall be calculated by using the method set forth in the Regulationsinvestment plus accrued interest due on such date. (iiB) The aggregate amount earned on the investment of Gross Proceeds in Nonpurpose Investments for each Computation Period shall include all income realized under federal income tax accounting principles with respect to such Nonpurpose Investments and with respect to the reinvestment of investment receipts from such Nonpurpose Investments (without regard to the transaction costs incurred in acquiring, carrying, selling or redeeming such Nonpurpose Investments). Such income shall include, for example, gain or loss realized on the disposition of such Nonpurpose Investments (without regard to when such gains are taken into account under Section 453 of the Code) and income under Section 1272 of the Code. In addition, where Nonpurpose Investments are retained after retirement of the Bonds, any unrealized gains or losses as of the date of retirement of the Bonds must be taken into account in calculating the aggregate amount earned on such Nonpurpose Investments. In addition, the aggregate amount earned on Nonpurpose Investments in any Computation Period shall include the gain or loss on the sale of any investment determined by subtracting the Fair Market Value of the investment from the disposition price of the investment. (C) For each Computation Date Period specified in paragraph (iiiD) below, (1) if the Rebate Analyst shall compute Bond issue contains no Variable Rate Obligations, then the Yield on the Bonds as required by the Regulations based on the definition of issue price contained in Section 148(h) of the Code and the Regulations. The Bonds are a variable rate issue and accordingly the yield on the Bonds cannot be determined at this time. The Yield on the Bonds shall be calculated computed as required by the Rebate Analyst at such time in order to comply with this Tax Regulatory Agreement and the Regulations based on the definitions of issue price contained in Section 148(h1.148-1(b) of the Code Regulations using payments or prepayments of principal and interest actually paid through the last day of the principal of, premium, if anyComputation Period, and payments of principal and interest on reasonably expected to be paid after the Computation Period, and using as the purchase price of the Bonds required by the Regulations. For purposes of this Tax Regulatory Agreement the initial offering price to the public (not including bond houses and brokers, or similar persons or organizations acting in the capacity of underwriters or wholesalers) at which price a substantial amount of the Bonds were sold is sold, or, if privately placed, the Issue Price. Any reasonable amounts price paid for credit enhancement have been and may generally be treated as interest by the first buyer of such obligations; or (2) if the Bonds contain Variable Rate Obligations (including adjustable mode bonds), then the Yield on the Bonds for shall be computed as required by Section 1.148-1(b) of the Regulations using payments of principal actually paid and interest accrued through the last day of the Computation Period and payments of principal and interest expected to be made after the Computation Period, assuming a rate of interest equal to the Weighted Average Rate of Interest from the date of original issuance of the Bonds to the end of the Computation Period, and using as the purchase price of the Bonds the amount described in clause (1) of this paragraph (C). For purposes of Yield computation to this calculation, the extent permitted fee paid by the RegulationsCompany for the Letter of Credit is treated as interest. (iiiD) Subject to the special rules set forth in paragraphs paragraph (iv) and (vE) below, the Rebate Analyst Company shall determine the amount of earnings received on all Nonpurpose Investments investments described in paragraph (iA) above, other than investments in obligations described in Section 103(a) of the Code or investments of amounts held in the Rebate Fund, during the Computation Periods ending with the following determination dates: (1) annually on the first anniversary of the Closing Date and each succeeding anniversary thereof; (2) the Maturity Date; (3) if all Outstanding Bonds are paid or redeemed prior to the Maturity Date, the date of such redemption; (4) the date of expenditure of all the proceeds of the Bonds on completion of the Project Facility; and (5) in the event of damage to or Condemnation of the Project Facility, the date of the expenditure of the proceeds of any insurance settlement or Condemnation award on the completion of the restoration of the Project Facility. (1) Except as provided in paragraph (F) below, if all of the Gross Proceeds of the Bonds have been expended for each Computation Date. In addition, where Nonpurpose Investments are retained by the Trustee purpose of the issue within six (6) months after retirement the date of original issuance of the Bonds, then the Rebate Amount shall be zero (0) until such time as either (a) amounts are received from the sale, Condemnation, casualty, title loss or other disposition of the Project Facility or any unrealized gains part thereof (which amounts will be held in the Insurance and Condemnation Fund), or losses (b) any other amounts become pledged as security for the Bonds, and neither of such amounts are expended on the payment of principal or interest on the Bonds within thirteen (13) months of the date of retirement their receipt. The Company shall evidence qualification for the six (6) month exception by delivering to the Trustee the documentation required for final disbursement of moneys from the Project Fund pursuant to Section 4.01 of the Bonds must be taken into account Indenture and receiving the balance on deposit in calculating the earnings on such Nonpurpose Investments to Project Fund within six (6) months after the extent required date of original issuance of the Bonds. The six-month exception provided by the Regulations. this paragraph (ivE) In determining the Rebate Amount computed pursuant to this Sectionis inapplicable if any reserve fund, (A) all earnings on any bona sinking fund or pledged fund, other than a bona-fide debt service fund as defined in Section 1.148-1(b) of the Regulations, is maintained for the Bonds. (including 2) In determining whether the Revenue Fund and Gross Proceeds of the Purchase FundBonds have been expended within the six-month period described in clause (1) above, there shall not be taken into account for any amounts held in the Bond Year during which the gross earnings of Fund, provided such funds total less than $100,000, fund continues to remain a bona-fide debt service fund (B) the Universal Cap applicable to the Bonds pursuant to ss. as defined in Section 1.148-6(b)(21(b) of the Regulations shall be taken into account, Regulations) which is depleted once a year except for a reasonable carryover amount not exceeding the greater of (Ca) all one (1) year's earnings on the Bond Fund or (b) one-twelfth (1/12) of annual debt service on the Borrower's elections and other choices set forth in Section 4.01 hereof shall be taken into account and (D) all spending exceptions to rebate met by the Borrower shall be taken into accountBonds. (vF) For each Computation Date Period specified in paragraph (iiiD) above, there shall be calculated for each investment described in paragraph (A) above (other than investments held in the Rebate Analyst shall calculate for each Investment described in paragraphs (iFund) and (iii) above, an amount equal to the earnings which would have been received on such Investment investment if in the Computation Period an amount equal to the Fair Market Value of such investment were invested at an interest rate equal to the Yield on the Bonds as described in paragraph (iiC) above. The method of calculation shall follow that set forth in the Regulations. (viG) For each Computation DatePeriod specified in paragraph (D) above, the Rebate Analyst shall determine the amount of earnings received on all Investments held in the Rebate Fund for the Computation Date. The method of calculation shall follow that set forth in the Regulations. (vii) For each Computation Date, the Rebate Analyst Company shall calculate the Rebate Amount, by any appropriate method to be described in the Code and Regulations applicable or which becomes applicable to the Bonds. The determination of the Rebate Amount shall account for the an amount (to be rounded down to the nearest multiple next larger whole number of $100cents) equal to the sum aggregate amount earned on the investment of all Gross Proceeds in Nonpurpose Investments determined in paragraph (B) above, less the amounts determined in paragraph (iii)F) above, all amounts determined in paragraphs (v) and (vi)plus any interest earned on such amount, and less any the amount which has previously been paid to the United States pursuant to Section 4.04 below. The Rebate Analyst 7.4 hereof. (H) For each Computation Period specified in paragraph (D) above, the Company shall notify furnish the Trustee in writing, within fifteen (15) days after the end of the Computation Period, a computation of the Rebate Amount. , and (viii1) If if the Rebate Amount exceeds the amount on deposit in the Rebate Fund, the Borrower Company shall immediately pay instruct the Trustee to deposit an amount in the Rebate Fund such that the balance in the Rebate Fund after such deposit shall equal the Rebate Amount, the Trustee to withdraw such amount from the Project Fund prior to the Completion Date; provided, however, that, if the Completion Date is passed or if insufficient funds are available in the Project Fund, the Company shall direct the Trustee for in writing to withdraw excess funds from other funds or accounts to be deposited in the Rebate Fund or contribute moneys from other sources in the amount necessary to deposit into the full Rebate Amount in the Rebate Fund; and (2) if the amount in the Rebate Fund exceeds the Rebate Amount, the Company shall instruct the Trustee to withdraw such excess amount and deposit it (a) in the Project Fund prior to the Completion Date or (b) in the Bond Fund after the Completion Date to be used to redeem Bonds in accordance with Article VIII of the Indenture.

Calculation of Rebate Amount. (a) ss. 148(f) of the Code requires the payment to the United States of the Rebate Amount. Except as provided below, the Revenue Fund, the Project Fund, the Costs of Issuance Fund, the Rebate Fund and all other funds or accounts treated as containing Gross Proceeds, are subject to this rebate requirement. (b) In accordance with the requirements set out in the Code and pursuant to the Indenture, the Issuer has created the Rebate Fund, to be held by the Trustee, in its capacity as Trustee under the Indenture, and used as provided in this Section. (i) On or before 25 days following each Computation Date, upon the Borrower's ’s written direction, an amount shall be deposited to the Rebate Fund by the Trustee from source or sources stated in such direction so that the balance of the Rebate Fund shall equal the aggregate Rebate Amount as of such determination date. (ii) Amounts deposited in the Rebate Fund shall be invested in accordance with the Investment Instructions by the Trustee at the written direction of the Borrower. (iii) All money at any time deposited in the Rebate Fund shall be held by the Trustee, to the extent required by this Tax Regulatory Agreement and the Indenture, for payment to the United States of America of the Rebate Amount. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Tax Regulatory Agreement. (iv) For purposes of crediting amounts to the Rebate Fund or withdrawing amounts from the Rebate Fund, Nonpurpose Investments shall be valued in the manner provided in this Article. (c) In order to meet the rebate requirement of ss. 148(f) of the Code, the Borrower agrees and covenants to take, or cause to be taken by the Trustee or the Rebate Analyst described in Section 4.06 hereof, as appropriate, the following actions: (i) For each Investment of amounts held with respect to the Bonds in (A) the Revenue Fund, (B) the Purchase Fund, (C) the Project Fund, (D) the Costs of Issuance Fund and (E) the Rebate Fund, the Trustee shall record the purchase date of such Investment, its purchase price, accrued interest due on its purchase date, its face amount, its coupon rate, its Yield, the frequency of its interest payment, its disposition price, accrued interest due on its disposition date and its disposition date. The Rebate Analyst retained by the Borrower shall determine the Fair Market Value for such Investments and the Yield thereon as may be required by the Regulations. The Yield for an Investment shall be calculated by using the method set forth in the Regulations. (ii) For each Computation Date specified in paragraph (iii) below, the Rebate Analyst shall compute the Yield on the Bonds as required by the Regulations based on the definition of issue price contained in Section 148(h) of the Code and the Regulations. The Bonds are a variable rate issue and accordingly the yield on the Bonds cannot be determined at this time. The Yield on the Bonds shall be calculated by the Rebate Analyst at such time in order to comply with this Tax Regulatory Agreement and the Regulations based on the definitions of issue price contained in Section 148(h) of the Code using payments or prepayments of the principal of, premium, if any, and interest on the Bonds required by the Regulations. For purposes of this Tax Regulatory Agreement the initial offering price to the public (not including bond houses and brokers, or similar persons or organizations acting in the capacity of underwriters or wholesalers) at which a substantial amount of the Bonds were sold is the Issue Price. Any reasonable amounts paid for credit enhancement have been and may generally be treated as interest on the Bonds for purposes of Yield computation to the extent permitted by the Regulations. (iii) Subject to the special rules set forth in paragraphs (iv) and (v) below, the Rebate Analyst shall determine the amount of earnings received on all Nonpurpose Investments described in paragraph (i) above, for each Computation Date. In addition, where Nonpurpose Investments are retained by the Trustee after retirement of the Bonds, any unrealized gains or losses as of the date of retirement of the Bonds must be taken into account in calculating the earnings on such Nonpurpose Investments to the extent required by the Regulations. (iv) In determining the Rebate Amount computed pursuant to this Section, (A) all earnings on any bona fide debt service fund (including the Revenue Fund and the Purchase Fund) shall not be taken into account for any Bond Year during which the gross earnings of such funds total less than $100,000, (B) the Universal Cap applicable to the Bonds pursuant to ss. 1.148-6(b)(2) of the Regulations shall be taken into account, (C) all of the Borrower's ’s elections and other choices set forth in Section 4.01 hereof shall be taken into account and (D) all spending exceptions to rebate met by the Borrower shall be taken into account. (v) For each Computation Date specified in paragraph (iii) above, the Rebate Analyst shall calculate for each Investment described in paragraphs (i) and (iii) above, an amount equal to the earnings which would have been received on such Investment at an interest rate equal to the Yield on the Bonds as described in paragraph (ii) above. The method of calculation shall follow that set forth in the Regulations. (vi) For each Computation Date, the Rebate Analyst shall determine the amount of earnings received on all Investments held in the Rebate Fund for the Computation Date. The method of calculation shall follow that set forth in the Regulations. (vii) For each Computation Date, the Rebate Analyst shall calculate the Rebate Amount, by any appropriate method to be described in the Code and Regulations applicable or which becomes applicable to the Bonds. The determination of the Rebate Amount shall account for the amount (to be rounded down to the nearest multiple of $100) equal to the sum of all amounts determined in paragraph (iii), all amounts determined in paragraphs (v) and (vi), and less any amount which has previously been paid to the United States pursuant to Section 4.04 below. The Rebate Analyst shall notify the Trustee of the Rebate Amount. (viii) If the Rebate Amount exceeds the amount on deposit in the Rebate Fund, the Borrower shall immediately pay such amount to the Trustee for deposit into the Rebate Fund.

Calculation of Rebate Amount. (a) ss. Section 148(f) of the Code requires the payment to the United States of the Rebate Amount. Except as provided below, the Revenue Fund, the Project Fund, the Costs of Issuance Fund, the Rebate Fund and all other funds or accounts treated as containing Gross Proceeds, are subject to this rebate requirement. (b) In accordance with the requirements set out in the Code and pursuant to the IndentureCode, the Issuer has created the Borrower may create, as needed, a Rebate Fund, Fund to be held by the Trustee, in its capacity as Trustee under the Indenture, and used as provided in this Section. (i) On or before 25 days following each Computation Date, upon the Borrower's written direction, Date an amount shall be deposited to the Rebate Fund by the Trustee from source or sources stated in such direction so that the balance of the Rebate Fund shall equal the aggregate Rebate Amount as of such determination date. (ii) Amounts deposited in the Rebate Fund shall be invested in accordance with the Investment Instructions by the Trustee at the written direction Agreement of the Borrower. (iii) All money at any time deposited in the Rebate Fund shall be held by the TrusteeBorrower, to the extent required by this Tax Regulatory Agreement and the IndentureAgreement, for payment to the United States of America of the Rebate Amount. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Tax Regulatory Agreement. (iv) For purposes of crediting amounts to the Rebate Fund or withdrawing amounts from the Rebate Fund, Nonpurpose Investments shall be valued in the manner provided in this Article. (c) In order to meet the rebate requirement of ss. Section 148(f) of the Code, the Rebate Analyst described in Section 4.6 hereof and Borrower agrees and covenants to take, or cause to be taken by the Trustee or the Rebate Analyst described in Section 4.06 hereof, as appropriate, take the following actions: (i) For each Investment of amounts held with respect to the Bonds in (A) pursuant to the Revenue FundIndenture, (B) the Purchase Fund, (C) the Project Fund, (D) the Costs of Issuance Fund and (E) the Rebate Fund, the Trustee Borrower shall record the purchase date of such Investment, its purchase price, accrued interest due on its purchase date, its face amount, its coupon rate, its Yield, the frequency of its interest payment, its disposition price, accrued interest due on its disposition date and its disposition date. The Borrower or the Rebate Analyst retained by the Borrower shall determine the Fair Market Value for such Investments and the Yield thereon as may be required by the Regulations. The Yield for an Investment shall be calculated by using the method set forth in the Regulations. (ii) For each Computation Date specified in paragraph (iii) below, the Rebate Analyst shall compute the Yield on the Bonds as required by the Regulations based on the definition of issue price contained in Section 148(h) of the Code and the Regulations. The Bonds are a variable rate issue and accordingly the yield on the Bonds cannot be determined at this time. The Yield on the Bonds shall be calculated by the Rebate Analyst Borrower at such time in order to comply with this Tax Regulatory Agreement and the Regulations based on the definitions of issue price contained in Section 148(h) of the Code using payments or prepayments of the principal of, premium, if any, and interest on the Bonds required by the Regulations. For purposes of this Tax Regulatory Agreement the initial offering price to the public (not including bond houses and brokers, or similar persons or organizations acting in the capacity of underwriters or wholesalers) at which a substantial amount of the Bonds were sold is the Issue Price. Any reasonable amounts paid for credit enhancement have been and may generally be treated as interest on the Bonds for purposes of Yield computation to the extent permitted by the Regulations. (iii) Subject to the special rules set forth in paragraphs (iv) and (v) below, the Rebate Analyst shall determine the amount of earnings received on all Nonpurpose Investments described in paragraph (i) above, for each Computation Date. In addition, where Nonpurpose Investments are retained by the Trustee Borrower after retirement of the Bonds, any unrealized gains or losses as of the date of retirement of the Bonds must be taken into account in calculating the earnings on such Nonpurpose Investments to the extent required by the Regulations. (iv) In determining the Rebate Amount computed pursuant to this Section, (A) all earnings on any bona fide debt service fund (including the Revenue Fund and the Purchase Fund) shall not be taken into account for any Bond Year during which the gross earnings of such funds total less than $100,000, (B) the Universal Cap applicable to the Bonds pursuant to ss. Section 1.148-6(b)(2) of the Regulations shall be taken into account, (C) all of the Borrower's elections and other choices set forth in Section 4.01 hereof shall be taken into account and (D) all spending exceptions to rebate met by the Borrower shall be taken into account. (v) For each Computation Date specified in paragraph (iii) above, the Rebate Analyst shall calculate for each Investment described in paragraphs (i) and (iii) above, an amount equal to the earnings which would have been received on such Investment at an interest rate equal to the Yield on the Bonds as described in paragraph (ii) above. The method of calculation shall follow that set forth in the Regulations. (vi) For each Computation Date, the Rebate Analyst shall determine the amount of earnings received on all Investments held in the Rebate Fund for the Computation Date. The method of calculation shall follow that set forth in the Regulations. (vii) For each Computation Date, the Rebate Analyst shall calculate the Rebate Amount, by any appropriate method to be described in the Code and Regulations applicable or which becomes applicable to the Bonds. The determination of the Rebate Amount shall account for the amount (to be rounded down to the nearest multiple of $100) equal to the sum of all amounts determined in paragraph (iii), all amounts determined in paragraphs (v) and (vi), and less any amount which has previously been paid to the United States pursuant to Section 4.04 below. The Rebate Analyst shall notify the Trustee of the Rebate Amount. (viii) If the Rebate Amount exceeds the amount on deposit in the Rebate Fund, the Borrower shall immediately pay such amount to the Trustee for deposit into the Rebate Fund.choices

Calculation of Rebate Amount. (a) ss. Section 148(f) of the Code requires the payment to the United States of the Rebate Amount. Except as provided below, the Revenue Cost of Issuance Fund and the Rebate Fund, the Project Fund, the Costs of Issuance Fund, the Rebate Fund and all other funds or accounts Funds and Accounts treated as containing Gross ProceedsProceeds (excluding the Bond Fund), are subject to this rebate requirement. (b) In accordance with the requirements set out in the Code and pursuant to the terms of this Tax Exemption Agreement and the Indenture, the Issuer has created the Rebate Fund, to be held by the Trustee, Trustee in its capacity as Trustee under accordance with the terms of this Indenture, and used as provided in this Section. (i) On or before 25 twenty five (25) days following each Computation Date, upon the Borrower's Rebate Analyst’s written direction, an amount shall be deposited to the Rebate Fund by the Trustee from the source or sources stated in such direction so that the balance of the Rebate Fund shall equal the aggregate Rebate Amount as of such determination date. (ii) Amounts deposited in the Rebate Fund shall be invested in accordance with the Investment Instructions Issuer Tax Certificate and the Indenture by the Trustee at the written direction of the BorrowerCorporation. (iii) All money at any time deposited in the Rebate Fund shall be held by the Trustee, to the extent required by this Tax Regulatory Exemption Agreement and the Indenture, for payment to the United States of America of the Rebate Amount. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Tax Regulatory Exemption Agreement. (iv) For purposes of crediting amounts to the Rebate Fund or withdrawing amounts from the Rebate Fund, Nonpurpose Investments shall be valued in the manner provided in this Article. (c) In order to meet the rebate requirement of ss. Section 148(f) of the Code, the Borrower agrees and covenants to take, or cause to be taken by the Trustee or the Rebate Analyst described in Section 4.06 hereof, as appropriate, 4.07 hereof and the Corporation agrees and covenants to take the following actions: (i) For each Investment of amounts held with respect to the Series 2017 Bonds in (A) the Revenue Fund, (B) the Purchase Fund, (C) the Project Fund, (D) the Costs Cost of Issuance Fund and (EB) the Rebate Fund, the Trustee shall record the purchase date of such Investment, its purchase price, accrued interest due on its purchase date, its face amount, its coupon rate, its Yield, the frequency of its interest payment, its disposition price, accrued interest due on its disposition date and its disposition date. The Corporation or the Rebate Analyst retained by the Borrower Corporation shall determine the Fair Market Value for such Investments and the Yield thereon as may be required by the Regulations. The Yield for an Investment shall be calculated by using the method set forth in the Regulations. (ii) For each Computation Date specified The Bond Yield has been determined in paragraph (iii) below, the Rebate Analyst shall compute the Yield on the Bonds as required by accordance with the Regulations based on the definition of issue price Issue Price contained in Section 148(h) 148 of the Code and the Regulations. The Bonds are a variable rate issue and accordingly the yield on the Bonds cannot be determined at this time. The Yield on the Bonds shall be calculated by the Rebate Analyst at such time in order to comply with this Tax Regulatory Agreement and the Regulations based on the definitions of issue price contained in Section 148(h) of the Code using payments or prepayments of the principal of, premium, if any, and interest on the Bonds required by the Regulations. For purposes of this Tax Regulatory Exemption Agreement the initial offering price to the public (not including bond houses and brokers, or similar persons or organizations acting in the capacity of underwriters or wholesalers) at which a substantial amount of the Series 2017 Bonds were sold sold, and adjusted for amounts paid or received with respect to a Qualified Hedge, is the Issue Price. Any reasonable amounts paid for credit enhancement have The Bond Yield has been and may generally determined to be treated as interest on the Bonds for purposes of Yield computation to the extent permitted by the Regulations3.6048 percent. (iii) Subject to the special rules set forth in paragraphs (iv) and (v) below, the Rebate Analyst shall determine the amount of earnings received on all Nonpurpose Investments described in paragraph (i) above, for each Computation Date. In addition, where Nonpurpose Investments are retained by the Trustee after retirement of the Series 2017 Bonds, any unrealized gains or losses as of the date of retirement of the Series 2017 Bonds must be taken into account in calculating the earnings on such Nonpurpose Investments to the extent required by the Regulations. (iv) In determining the Rebate Amount computed pursuant to this Section, : (A) all earnings on any “bona fide debt service fund fund,” as defined by Section 1.148.1 of the Regulations (including the Revenue Fund Fund, the Interest Fund, the Bond Sinking Fund, and the Purchase Redemption Fund) shall not be taken into account for any Bond Year during which the gross earnings of such funds total fund totals less than $100,000, ; (B) the Universal Cap applicable to the Series 2017 Bonds pursuant to ss. Section 1.148-6(b)(2) of the Regulations shall be taken into account, (C) all of the Borrower's elections and other choices set forth in Section 4.01 hereof shall be taken into account and (D) all spending exceptions to rebate met by the Borrower shall be taken into account. (v) For each Computation Date specified in paragraph (iii) above, the Rebate Analyst shall calculate for each Investment described in paragraphs (i) and (iii) above, an amount equal to the earnings which would have been received on such Investment at an interest rate equal to the Yield on the Bonds as described in paragraph (ii) above. The method of calculation shall follow that set forth in the Regulations. (vi) For each Computation Date, the Rebate Analyst shall determine the amount of earnings received on all Investments held in the Rebate Fund for the Computation Date. The method of calculation shall follow that set forth in the Regulations. (vii) For each Computation Date, the Rebate Analyst shall calculate the Rebate Amount, by any appropriate method to be described in the Code and Regulations applicable or which becomes applicable to the Bonds. The determination of the Rebate Amount shall account for the amount (to be rounded down to the nearest multiple of $100) equal to the sum of all amounts determined in paragraph (iii), all amounts determined in paragraphs (v) and (vi), and less any amount which has previously been paid to the United States pursuant to Section 4.04 below. The Rebate Analyst shall notify the Trustee of the Rebate Amount. (viii) If the Rebate Amount exceeds the amount on deposit in the Rebate Fund, the Borrower shall immediately pay such amount to the Trustee for deposit into the Rebate Fund.;

Calculation of Rebate Amount. (a) ss. (S) 148(f) of the Code requires the payment to the United States of the Rebate Amount. Except as provided below, the Revenue Fund, the Project Fund, the Costs of Issuance Fund, the Rebate Fund Fund, the Interest Collateral Account and all other funds or accounts treated as containing Gross Proceeds, are subject to this rebate requirement. (b) In accordance with the requirements set out in the Code and pursuant to the Indenture, the Issuer Authority has created the Rebate Fund, to be held by the Trustee, in its capacity as Trustee under the Indenture, and used as provided in this Section. (i) On or before 25 days following each Computation Date, upon the Borrower's written direction, an amount shall be deposited to the Rebate Fund by the Trustee from source or sources stated in such direction so that the balance of the Rebate Fund shall equal the aggregate Rebate Amount as of such determination date. (ii) Amounts deposited in the Rebate Fund shall be invested in accordance with the Investment Instructions by the Trustee at the written direction of the Borrower. (iii) All money at any time deposited in the Rebate Fund shall be held by the Trustee, to the extent required by this Tax Regulatory Agreement and the Indenture, for payment to the United States of America of the Rebate Amount. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Tax Regulatory Agreement. (iv) For purposes of crediting amounts to the Rebate Fund or withdrawing amounts from the Rebate Fund, Nonpurpose Investments shall be valued in the manner provided in this Article. (c) In order to meet the rebate requirement of ss. (S) 148(f) of the Code, the Borrower agrees and covenants to take, or cause to be taken by the Trustee or the Rebate Analyst described in Section 4.06 hereof, as appropriate, the following actions: (i) For each Investment of amounts held with respect to the Bonds in (A) the Revenue Fund, (B) the Purchase Fund, (C) the Project Fund, (D) the Costs of Issuance Fund and (E) the Rebate Fund, the Trustee shall record the purchase date of such Investment, its purchase price, accrued interest due on its purchase date, its face amount, its coupon rate, its Yield, the frequency of its interest payment, its disposition price, accrued interest due on its disposition date and its disposition date. The Rebate Analyst retained by the Borrower shall determine the Fair Market Value for such Investments and the Yield thereon as may be required by the Regulations. The Yield for an Investment shall be calculated by using the method set forth in the Regulations. (ii) For each Computation Date specified in paragraph (iii) below, the Rebate Analyst shall compute the Yield on the Bonds as required by the Regulations based on the definition of issue price contained in Section 148(h) of the Code and the Regulations. The Bonds are a variable rate issue and accordingly the yield on the Bonds cannot be determined at this time. The Yield on the Bonds shall be calculated by the Rebate Analyst at such time in order to comply with this Tax Regulatory Agreement and the Regulations based on the definitions of issue price contained in Section 148(h) of the Code using payments or prepayments of the principal of, premium, if any, and interest on the Bonds required by the Regulations. For purposes of this Tax Regulatory Agreement the initial offering price to the public (not including bond houses and brokers, or similar persons or organizations acting in the capacity of underwriters or wholesalers) at which a substantial amount of the Bonds were sold is the Issue Price. Any reasonable amounts paid for credit enhancement have been and may generally be treated as interest on the Bonds for purposes of Yield computation to the extent permitted by the Regulations. (iii) Subject to the special rules set forth in paragraphs (iv) and (v) below, the Rebate Analyst shall determine the amount of earnings received on all Nonpurpose Investments described in paragraph (i) above, for each Computation Date. In addition, where Nonpurpose Investments are retained by the Trustee after retirement of the Bonds, any unrealized gains or losses as of the date of retirement of the Bonds must be taken into account in calculating the earnings on such Nonpurpose Investments to the extent required by the Regulations. (iv) In determining the Rebate Amount computed pursuant to this Section, (A) all earnings on any bona fide debt service fund (including the Revenue Fund, the Purchase Fund and the Purchase FundInterest Collateral Account) shall not be taken into account for any Bond Year during which the gross earnings of such funds total less than $100,000, (B) the Universal Cap applicable to the Bonds pursuant to ss. (S) 1.148-6(b)(2) of the Regulations shall be taken into account, (C) all of the Borrower's elections and other choices set forth in Section 4.01 hereof shall be taken into account and (D) all spending exceptions to rebate met by the Borrower shall be taken into account. (v) For each Computation Date specified in paragraph (iii) above, the Rebate Analyst shall calculate for each Investment described in paragraphs (i) and (iii) above, an amount equal to the earnings which would have been received on such Investment at an interest rate equal to the Yield on the Bonds as described in paragraph (ii) above. The method of calculation shall follow that set forth in the Regulations. (vi) For each Computation Date, the Rebate Analyst shall determine the amount of earnings received on all Investments held in the Rebate Fund for the Computation Date. The method of calculation shall follow that set forth in the Regulations. (vii) For each Computation Date, the Rebate Analyst shall calculate the Rebate Amount, by any appropriate method to be described in the Code and Regulations applicable or which becomes applicable to the Bonds. The determination of the Rebate Amount shall account for the amount (to be rounded down to the nearest multiple of $100) equal to the sum of all amounts determined in paragraph (iii), all amounts determined in paragraphs (v) and (vi), and less any amount which has previously been paid to the United States pursuant to Section 4.04 below. The Rebate Analyst shall notify the Trustee of the Rebate Amount. (viii) If the Rebate Amount exceeds the amount on deposit in the Rebate Fund, the Borrower shall immediately pay such amount to the Trustee for deposit into the Rebate Fund.

Calculation of Rebate Amount. (a) ss. 148(f) of the Code requires the payment to the United States of the Rebate Amount. Except as provided below, the Revenue Fund, the Project Fund, the Costs of Issuance Rebate Fund, the Rebate Fund Collateral Account and all other funds or accounts treated as containing Gross Proceeds, are subject to this rebate requirement. (b) In accordance with the requirements set out in the Code and pursuant to the Indenture, the Issuer has created the Rebate Fund, to be held by the Trustee, in its capacity as Trustee under the Indenture, and used as provided in this Section. (i) On or before 25 days following each Computation Date, upon the Borrower's written direction, an amount shall be deposited to the Rebate Fund by the Trustee from source or sources stated in such direction so that the balance of the Rebate Fund shall equal the aggregate Rebate Amount as of such determination date. (ii) Amounts deposited in the Rebate Fund shall be invested in accordance with the Investment Instructions by the Trustee at the written direction of the Borrower. (iii) All money at any time deposited in the Rebate Fund shall be held by the Trustee, to the extent required by this Tax Regulatory Agreement and the Indenture, for payment to the United States of America of the Rebate Amount. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Tax Regulatory Agreement. (iv) For purposes of crediting amounts to the Rebate Fund or withdrawing amounts from the Rebate Fund, Nonpurpose Investments shall be valued in the manner provided in this Article. (c) In order to meet the rebate requirement of ss. 148(f) of the Code, the Borrower agrees and covenants to take, or cause to be taken by the Trustee or the Rebate Analyst described in Section 4.06 4.6 hereof, as appropriate, the following actions: (i) For each Investment of amounts held with respect to the Bonds in (A) the Revenue Fund, (B) the Purchase Fund, (C) the Project Fund, (D) the Costs of Issuance Fund and (ED) the Rebate Fund, the Trustee shall record the purchase date of such Investment, its purchase price, accrued interest due on its purchase date, its face amount, its coupon rate, its Yield, the frequency of its interest payment, its disposition price, accrued interest due on its disposition date and its disposition date. The Rebate Analyst retained by the Borrower shall determine the Fair Market Value for such Investments and the Yield thereon as may be required by the Regulations. The Yield for an Investment shall be calculated by using the method set forth in the Regulations. (ii) For each Computation Date specified in paragraph (iii) below, the Rebate Analyst shall compute the Yield on the Bonds as required by the Regulations based on the definition of issue price contained in Section 148(h) of the Code and the Regulations. The Bonds are a variable rate issue and accordingly the yield on the Bonds cannot be determined at this time. The Yield on the Bonds shall be calculated by the Rebate Analyst at such time in order to comply with this Tax Regulatory Agreement and the Regulations based on the definitions of issue price contained in Section 148(h) of the Code using payments or prepayments of the principal of, premium, if any, and interest on the Bonds required by the Regulations. For purposes of this Tax Regulatory Agreement the initial offering price to the public (not including bond houses and brokers, or similar persons or organizations acting in the capacity of underwriters or wholesalers) at which a substantial amount of the Bonds were sold is the Issue Price. Any reasonable amounts paid for credit enhancement have been and may generally be treated as interest on the Bonds for purposes of Yield computation to the extent permitted by the Regulations. (iii) Subject to the special rules set forth in paragraphs (iv) and (v) below, the Rebate Analyst shall determine the amount of earnings received on all Nonpurpose Investments described in paragraph (i) above, for each Computation Date. In addition, where Nonpurpose Investments are retained by the Trustee after retirement of the Bonds, any unrealized gains or losses as of the date of retirement of the Bonds must be taken into account in calculating the earnings on such Nonpurpose Investments to the extent required by the Regulations. (iv) In determining the Rebate Amount computed pursuant to this Section, (A) all earnings on any bona fide debt service fund (including the Revenue Fund and the Purchase Fund) shall not be taken into account for any Bond Year during which the gross earnings of such funds total less than $100,000, (B) the Universal Cap applicable to the Bonds pursuant to ss. 1.148-1.148- 6(b)(2) of the Regulations shall be taken into account, (C) all of the Borrower's elections and other choices set forth in Section 4.01 4.1 hereof shall be taken into account and (D) all spending exceptions to rebate met by the Borrower shall be taken into account. (v) For each Computation Date specified in paragraph (iii) above, the Rebate Analyst shall calculate for each Investment described in paragraphs (i) and (iii) above, an amount equal to the earnings which would have been received on such Investment at an interest rate equal to the Yield on the Bonds as described in paragraph (ii) above. The method of calculation shall follow that set forth in the Regulations. (vi) For each Computation Date, the Rebate Analyst shall determine the amount of earnings received on all Investments held in the Rebate Fund for the Computation Date. The method of calculation shall follow that set forth in the Regulations. (vii) For each Computation Date, the Rebate Analyst shall calculate the Rebate Amount, by any appropriate method to be described in the Code and Regulations applicable or which becomes applicable to the Bonds. The determination of the Rebate Amount shall account for the amount (to be rounded down to the nearest multiple of $100) equal to the sum of all amounts determined in paragraph (iii), all amounts determined in paragraphs (v) and (vi), and less any amount which has previously been paid to the United States pursuant to Section 4.04 4.4 below. The Rebate Analyst shall notify the Trustee of the Rebate Amount. (viii) If the Rebate Amount exceeds the amount on deposit in the Rebate Fund, the Borrower shall immediately pay such amount to the Trustee for deposit into the Rebate Fund.

Calculation of Rebate Amount. (a) ss. 148(f) of the Code requires the payment to the United States of the Rebate Amount. Except as provided below, the Revenue Fund, the Project Fund, the Costs of Issuance Fund, the Rebate Fund and all other funds or accounts treated as containing Gross Proceeds, are subject to this rebate requirement. (b) In accordance with the requirements set out in the Code and pursuant to the Indenture, the Issuer has created the Rebate Fund, to be held by the Trustee, in its capacity as Trustee under the Indenture, and used as provided in this Section. (i) On or before 25 days following each Computation Date, upon the Borrower's written direction, an amount shall be deposited to the Rebate Fund by the Trustee from source or sources stated in such direction so that the balance of the Rebate Fund shall equal the aggregate Rebate Amount as of such determination date. (ii) Amounts deposited in the Rebate Fund shall be invested in accordance with the Investment Instructions by the Trustee at the written direction of the Borrower. (iii) All money at any time deposited in the Rebate Fund shall be held by the Trustee, to the extent required by this Tax Regulatory Agreement and the Indenture, for payment to the United States of America of the Rebate Amount. All amounts deposited into or on deposit in the Rebate Fund shall be governed by this Tax Regulatory Agreement. (iv) For purposes of crediting amounts to the Rebate Fund or withdrawing amounts from the Rebate Fund, Nonpurpose Investments shall be valued in the manner provided in this Article. (c) In order to To meet the rebate requirement of ss. Section 148(f) of the Code, the Borrower agrees and City agrees, covenants to take, or cause to be taken by the Trustee or the Rebate Analyst described in Section 4.06 hereofelects, as appropriate, the following actionsapplicable: (ia) For each Investment investment of amounts held with respect to the Bonds Notes in the (Ai) the Revenue Fund, (B) the Purchase Fund, (C) the Project Fund, (D) the Costs of Issuance Sinking Fund and (Eii) other moneys held by the Rebate FundCity that are Gross Proceeds, the Trustee City shall record the purchase date of such Investmentrecord, its purchase price, accrued interest due on its purchase date, its face amount, its coupon rate, its Yieldor cause to be recorded, the frequency of its interest payment, its disposition price, accrued interest due information on its disposition date and its disposition date. The Rebate Analyst retained by the Borrower shall determine the Fair Market Value for such Investments and the Yield thereon as may be required by the Regulations. The Yield for an Investment shall be calculated by using the method set forth in the Regulations.Exhibit E. (iib) For each Computation Date with respect to rebate amounts specified in paragraph (iiic) below, the Rebate Analyst described in Section 4.8 hereof shall compute the Yield on the Bonds Notes as required by the Regulations based on the definition of issue price contained in Section 148(h) Issue Price of the Code and Notes. It is the Regulations. The Bonds are a variable rate issue and accordingly City's intention, however, to cause the yield on the Bonds cannot be determined at this time. The Yield on the Bonds shall be calculated by the Rebate Analyst at such time calculation of arbitrage rebate done each year in order to comply with this Tax Regulatory Agreement and the Regulations based better budget for any payment due on the definitions of issue price contained in Section 148(h) of the Code using payments or prepayments of the principal of, premium, if any, and interest on the Bonds required by the Regulations. For purposes of this Tax Regulatory Agreement the initial offering price to the public (not including bond houses and brokers, or similar persons or organizations acting in the capacity of underwriters or wholesalers) at which a substantial amount of the Bonds were sold is the Issue Price. Any reasonable amounts paid for credit enhancement have been and may generally be treated as interest on the Bonds for purposes of Yield computation to the extent permitted by the Regulationsan Installment Computation Date. (iiic) Subject to the special rules set forth in paragraphs (ivd) and (ve) below, the Rebate Analyst described in Section 4.9 hereof shall determine the amount of earnings received on all Nonpurpose Investments described in paragraph (ia) above, for each Computation Date. In addition, where Nonpurpose Investments of amounts in the funds are retained by the Trustee Paying Agent after retirement of the BondsNotes, any unrealized gains or losses as of the date of retirement of the Bonds Notes must be taken into account in calculating the earnings on such Nonpurpose Investments to the extent required by the Regulations. The method of Calculation shall follow that set forth in the Regulations. (ivd) In determining the Rebate Amount amount of any rebate computed pursuant to this Sectionsection, (A) all earnings on any bona fide debt service fund (including the Revenue Bona Fide Debt Service Fund and the Purchase Fund) shall not be taken into account for any Bond Year during which the gross earnings of such funds total less than $100,000, (B) the Universal Cap applicable to the Bonds pursuant to ss. 1.148-6(b)(2) of the Regulations shall be taken into account, (C) all of the Borrower's elections and other choices set forth in Section 4.01 hereof shall be taken into account and (D) all spending exceptions to rebate met by the Borrower shall be taken into account. (ve) For each Computation Date specified in paragraph (iiic) above, the Rebate Analyst shall calculate for each Investment investment described in paragraphs (ia) and (iiic) above, an amount equal to the earnings which would have been received on such Investment investment at an interest rate equal to the Yield on the Bonds Notes as described in paragraph (iib) above. The method of calculation shall follow that set forth in the Regulations. (vif) In determining the amount of any rebate computed pursuant to this section, qualified administrative costs (as defined in Section 1.148-5(e) of the Regulations) shall be taken into account. (g) For each Computation Date, the Rebate Analyst shall determine the amount of earnings received on all Investments held Date specified in the Rebate Fund for the Computation Date. The method of calculation shall follow that set forth in the Regulations. paragraph (viic) For each Computation Dateabove, the Rebate Analyst shall calculate the Rebate Amount, rebate amount by any appropriate method to be described in the Code and Regulations applicable or which becomes become applicable to the Bonds. The determination Notes and shall determine whether any of the Rebate Amount shall account for the amount (to be rounded down exceptions to the nearest multiple arbitrage rebate requirement contained in Section 1.148-7 of $100) equal the Regulations applies to the sum of all amounts determined in paragraph (iii), all amounts determined in paragraphs (v) and (vi), and less any amount which has previously been paid to the United States pursuant to Section 4.04 below. The Rebate Analyst shall notify the Trustee of the Rebate AmountNotes. (viii) If the Rebate Amount exceeds the amount on deposit in the Rebate Fund, the Borrower shall immediately pay such amount to the Trustee for deposit into the Rebate Fund.