88-87 Amend 116-84 - Laserfiche WebLink

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with reference to Bonds when Additional Bonds are outstanding, the ordinance referred to in (a) above, as amended by the Amending Bond Legislation, and the legislation providing for the issuance of the then outstanding and the then to be issued Additional Bonds; in each case as amended or supplemented from time to time. "Bond Service Charges" means, for any period or payable at any time, the principal of, premium, if any and interest on the Bonds for that period or payable at that time whether due at maturity or upon acceleration or redemp- tion. "Bonds" means the Project Bonds and any Additional Bonds. "Code" means the Internal Revenue Code of 1986, as amended from time to time including, when appropriate, the statl~tory predecessor of the Code, and all applicable regulations (whether proposed, temporary or final) under that Code and the statutory predecessor of the Code, and any official rulings and determinations under the foregoing applicable to the Bonds. "Company" means Lakewood-Warren-Detroit Partnership, Ltd., a limited partnership formed and existing under the laws of the State of Ohio and reg- istered to transact business in the State, and its lawful successors and as- signs, to the extent permitted by the Agreement. "Determination of Taxability" means, with respect to the Project Bonds, (i) the enactment of legislation or the adoption of final regulations or a final decision, ruling or technical advice by any federal 3~dicial or administrative authority which has the effect of requiring interest on the Project Bonds to be included in the gross income of the Holder for federal income tax purposes (other than a Holder who is a "substantial user" of the Project or a "related person" as those terms are used in Section 147(a) of the Code), (ii) the receipt by the Trustee of a written opinion of nationally recognized bond counsel selected by the Company and approved by the Trustee to the effect that interest on the Project Bonds must be included in the gross income of the Holders for federal income tax purposes (other than a Holder who is a "substantial user" of the Project or a "related person" as those terms are used in Section 147(a) of the Code); (iii) the delivery to the Trustee of a written statement signed by the Authorized Company Representative to the effect that (a) the Company has exceeded or will exceed the maximum amount of capital expenditures permitted under Section 144(a)(4) of the Code or (b) that the Company or another "test-period beneficiary" (as said term is defined in Section 144(a)(10)(D) of the Code) has exceeded or will exceed the maximum amount of tax-exempt obligations permitted to be outstanding under Section 144(a)(10) of the Code; provided that no decision by any court or decision, ruling or technical advice by any administrative authority shall be considered final (a) unless the Holder involved in the proceeding or action giving rise to such decision, ruling or technical advice (i) gives the. Company and the Trustee prompt notice of the commencement thereof, and (ii) offers the Company the opportunity to control the contest thereof, provided the Company shall have agreed to bear all expenses in connection therewith and to indemnify that Holder against all liabilities in connection therewith, and (b) until the expiration of all periods for sudicial review or appeal; and, as to any series -5-