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? ?. <br />?.. ?, <br />(00; caYs aftac such daterr,iinat-icn at ', 00 ; oE the principal <br />air,ou;:t of the Pro;ect isond outsta^ding, plus accrued intc,: est to <br />s uch r-ec?z?,ni?'r.i_,:?n date and any pre:ni.u-ts anel interest, if any, <br />ctss2Sc-:?d by Lilf-? Inter.ritxl Ravenue :=iE?L"JLCe ak4d1I1sC ti'!E'. HOZdF?C', "cli'd <br />:iilc?ll k7ec:f 111t.?:L'°St ar th=? `1'c3Xubl?_' i\ate, as hereinai:ti°_?=' Cl2f1T1<<C1, <br />fiJi[t the- date ctS Oi w?l1C.i] :LT1tE'T'?'St 1S ri?-tes_iTllried t0 be SO <br />'.ilCiilC;ci:71F? (?iia n?['aXabl.e iJdlE?") UI1t11 sL1C''Cl Y''dF?i }[l?i..'1C1Ct d.?,t... a *.? <br />•- <br />c?. t? <br />u.:-,e: h-?r ;,' .? the ?? . <br />?._ . i , Taxa:;le Rzte„ iri:>arz fifteeri I»r-cent <br />? I?' ; 1. As U?^.a hE'.r'e7_:1, a "i'111c3 l lietCililll1at10:7" Shc.lll iltE:<:t_'I N <br />t'C1at t'(1--' t'1tt?T:t_'S1' 1.TIC<:;(le OIl LYle Project .t3011cJ <br />sub.; ect to F'?-dcrai. inco.rn? taxa` ior, as a re;ult oi the occurr-rice <br />OF an Event oi `I'axubility, as c:; ii;:ed hereinaFte.r, which <br />d-??err<<iTiaciorz 5hall bp c;eernera ta nave been made upon the first <br />t,-) occiir_ o` thP f.ol iow.i.r;g ; <br />( a) The date on whir_t-i t"«-? Co,rpany deterrnines that the <br />interest income on r he Proj ect Bond is subj ect to I'ederul <br />iriro_rzle taxa?ion by .Cili_nq jNl.tjl ttle F{older a statement to <br />tnat effect, suppvrted by any ta;; schedule, return or <br />docU,nent which disclos-os thac an Eve-nt of Taxability has <br />occurredi or <br />(b) The date ori which the Compaiiy or the Holder shatl <br />be acav:i::ed by private rulirlq, technical a:ivice, or any <br />her wr_.i_t.ten comrnutlicatiori fiA.o,n any authc,rized ofi ir_ia1. cA <br />k''t1` ZCii`.eI"I:,:11 i:r--vL:1li2 ..?iE?z'JlCE? ?`.rlat, ba3Pd L1pCiil ctl1y f1l1T1CjS <br />of the Co;;;pany, vr upon a.iy review or audit of the Comaany, <br />or upoi-i any other groun(I's what-:,oever, an Event of <br />Taxaaility has occurr_ed; <br />(;:) The date orx whir_h the Comparly shall receive <br />notice from the Halder in writin,3 that the Holder has been <br />adviseci (i) that the Internal Revenue Service has assessed <br />as includable in the gross income of the Holder the <br />interest on the Project 3ond due to the occurrence of arc <br />Event of Taxabili.ty, or (ii) by any authorized official of <br />the Internal Reve,1t}e Service that the interest on the <br />Praject Band is inc.ludable in the gro?s inco:ne of the <br />Holder due to the occurrerice of an Event of Taxability; or <br />(d) The datQ or which the Company receives a wr_itten <br />opinian by an attorney or firm of attorneys of recognizEd <br />stantiirly on the su'r-Jeck of municipal bon-Is sel.ected by the <br />Holdet arid appr_oved by the Company, which approval shall <br />not be unrc-asonab]_y withheld, that an Event of Taxal-,ility <br />has occurred. <br />Natwirhstand:irig the Fo--fe:joinc, rio Final Determ.ir:ati.on rhG11 <br />be clec-med to tiave or.cuczer; as a resu.l.t. of a deter-ilinatiori b;r the <br />CUm}':?dlly pl.lrSllailt tG ti"]2 pYi?_C: d1Clq ClaLIS< (a) unlc:ss sUpNoT_i.el"I by <br />9