Common use of Six-Month Exception Clause in Contracts

Six-Month Exception. The six-month exception requires that Gross Proceeds of the Lease be allocated to Expenditures for the purposes for which the Lease is executed and delivered within the six-month period beginning on the Date of Execution and Delivery of the Lease, and that the Rebate Requirement be met for amounts not required to be spent within such six-month spending period (excluding earnings on a bona fide debt service fund). For purposes of the six-month exception, Gross Proceeds do not include amounts in a bona fide debt service fund, amounts in a reasonably required reserve or replacement fund, amounts that as of the date hereof are not reasonably expected to be Gross Proceeds but that become Gross Proceeds after the end of the six-month spending period, amounts representing Sale Proceeds or Investment Proceeds derived from Payments under any Purpose Investment financed with Proceeds of the Lease, and amounts representing repayments of grants financed by the Lease.

Six-Month Exception. The six-month exception requires that Gross Proceeds of the Lease be allocated to Expenditures for the purposes for which the Lease is executed and delivered Bonds are issued within the six-month period beginning on the Date of Execution and Delivery Issuance of the LeaseBonds, and that the Rebate Requirement be met for amounts not required to be spent within such six-month spending period (excluding earnings on a bona fide debt service fund). For purposes of the six-month exception, Gross Proceeds do not include amounts in a bona fide debt service fund, amounts in a reasonably required reserve or replacement fund, amounts that as of the date hereof Date of Issuance of the Bonds are not reasonably expected to be Gross Proceeds but that become Gross Proceeds after the end of the six-month spending period, amounts representing Sale Proceeds or Investment Proceeds derived from Payments under any Purpose Investment financed with Proceeds of the LeaseProceeds, and amounts representing repayments of grants financed by the LeaseBonds.