Common use of Written Procedures Clause in Contracts

Written Procedures. (a) The Borrower (i) has designated the Chief Financial Officer of the Borrower as the person who will contact the Issuer and its counsel in the event of any change of use of any portion of the Project within 15 days of such change in use event, and (ii) will provide, within 60 days of such date, a rebate report or a letter (prepared by a CPA, nationally recognized rebate consultant or Bond Counsel) stating that a rebate report is not required. (b) The Issuer has designated its Chairman or Vice Chairman as the person who (i) will receive notice by the person described in the preceding paragraph of any change of use of the Project and who will determine, upon consultation with Bond Counsel, whether to take any remedial action or any other remedy available at law to ensure that the tax-exempt status of the Series 2022 Bond is preserved following such change of use, and (ii) will receive the aforementioned rebate report or letter stating that such report is not required.

Written Procedures. ‌ (a) The Borrower (i) has designated the Chief Financial Officer of the Borrower as the person who will contact the Issuer and its counsel in the event of any change of use of any portion of the Project within 15 days of such change in use event, and (ii) will provide, within 60 days of such date, a rebate report or a letter (prepared by a CPA, nationally recognized rebate consultant or Bond Counsel) stating that a rebate report is not required. (b) The Issuer has designated its Chairman or Vice Chairman as the person who (i) will receive notice by the person described in the preceding paragraph of any change of use of the Project and who will determine, upon consultation with Bond Counsel, whether to take any remedial action or any other remedy available at law to ensure that the tax-exempt status of the Series 2022 Bond is preserved following such change of use, and (ii) will receive the aforementioned rebate report or letter stating that such report is not required.