Change in Use. The Recipient reasonably expects to use all Project Funds and the Project for the entire stated term to maturity of the Obligation. Absent an opinion of Nationally-Recognized Bond Counsel to the effect that such use of Project Funds will not adversely affect the exclusion from federal gross income of interest on the Bonds pursuant to Section 103 of the Code, the Recipient will use the property financed or refinanced with Project Funds solely as set forth in the Agreement.
Appears in 6 contracts
Sources: Project Finance Agreement, Project Finance Agreement, Project Finance Agreement