Common use of PRIOR ISSUES AND $40 MILLION LIMIT Clause in Contracts

PRIOR ISSUES AND $40 MILLION LIMIT. The Borrower hereby represents and warrants for the benefit of the Authority, the Trustee and the registered owners of the Bonds that: (a) The aggregate face amount of all Prior Issues outstanding as of the Date of Issuance, the proceeds of which were or will be used to any extent with respect to facilities located in the incorporated municipality (or unincorporated county) in which the Facilities are located and the Principal Users of such facilities are the Borrower, any other Principal User of the Facilities or any Related Person thereto, is $-0-. (b) The aggregate face amount of all Prior Issues and all exempt facility bonds, qualified redevelopment bonds and industrial development bonds as defined in the 1954 Code or the Code outstanding as of the Date of Issuance, the proceeds of which were used by or were allocated to the Borrower, any other Principal User of the Facilities or any Related Person thereto as a Test-Period Beneficiary is $-0-.

PRIOR ISSUES AND $40 MILLION LIMIT. The Borrower hereby represents and warrants for the benefit of the AuthorityIssuer, the Trustee and the registered owners of the Bonds that: (a) The aggregate face amount of all Prior Issues outstanding as of the Date of Issuance, the proceeds of which were or will be used to any extent with respect to facilities located in the incorporated municipality (or unincorporated county) in which the Facilities are located and the Principal Users of such facilities are the Borrower, any other Principal User of the Facilities or any Related Person thereto, is $-0-0. (b) The aggregate face amount of all Prior Issues and all exempt facility bonds, qualified redevelopment bonds and industrial development bonds as defined in the 1954 Code or the Code outstanding as of the Date of Issuance, the proceeds of which were used by or were allocated to the Borrower, any other Principal User of the Facilities or any Related Person thereto as a Test-Period Beneficiary is $-0-0.