Agenda - Council - 07/12/2022 - Laserfiche WebLink

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anticipates that money therefrom will be required. Such Permitted Investments shall be held as part of the Trust Estate and shall be registered in the name of the Trustee. The Issuer and the Company each acknowledge that regulations of the Comptroller of the Currency grant the Issuer and the Company the right to receive brokerage confirmations of the securities transactions as they occur. The Issuer and the Company each specifically waive such notification to the extent permitted by law and the Issuer and the Company acknowledge that the Company will receive periodic cash transaction statements which will detail all investment transactions. In the absence of written direction delivered to the Trustee from the Company, or during the occurrence and continuance of an Event of Default, the Trustee shall hold such funds uninvested. [Standing investment direction?] The Trustee may elect,but shall not be obligated, to credit the Funds held by it with money representing income or principal payments due on, or sales proceeds due in respect of, Permitted Investments in such Funds, or to credit to Permitted Investments intended to be purchased with such money, in each case before actually receiving the requisite money from the payment source, or to otherwise advance money for account transactions. The Company acknowledges that the legal obligation to pay the purchase price of any Permitted Investments arises immediately at the time of the purchase. Notwithstanding anything else in this Loan Agreement or the Indenture, (1) any such crediting of money or assets shall be provisional in nature, and the Trustee shall be authorized to reverse any such transactions or advances of money in the event that it does not receive good funds with respect thereto, and (ii) nothing in this Loan Agreement or the Indenture shall constitute a waiver of any of the Trustee's rights as a securities intermediary under Uniform Commercial Code Section 9-206. Section 3.3 Special Arbitraue Certifications. The Company certifies and covenants to and for the benefit of the Bondholders and beneficial owners of the Tax-Exempt Bonds that money credited to any Fund in connection with the Tax-Exempt Bonds,whether or not such money was derived from the proceeds of the sale of the Tax-Exempt Bonds or from any other sources, will not be used in a manner which will cause the Tax-Exempt Bonds to be classified as "arbitrage bonds" within the meaning of Section 148 of the Code. The Company shall not use any of the proceeds in any manner contrary to the terms of the Act or in any manner as to cause, or take or omit to take any action which would cause,the interest on the Tax-Exempt Bonds to be includable in the gross income of the Bondholders for purposes of federal income taxation. (The remainder of this page is intentionally left blank.) 8 730911770