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n~c.i.,.;e ,.Jf .lefi.ciency (which notice shall include a copy of such
<br />,;t.:1t.ut.:H:y notice of deficiency) which holds in effect that the
<br />int,H'e,;t p.:iy.:lble on any of the Bonds is includable in the gross
<br />t:1co.n~ ,Jt th~ taxpayer named therein (other than a hol.::l.er who is
<br />a "sub3t.Jntial user" of the Project or a "related person," as
<br />such ::.~r~s .11:e defined in the Code) or (b l the issuance of a
<br />public o r private ruling of the Internal Revenue Service to the
<br />~ffect ::.hat the interest payable on the Bonds is includable in
<br />th~ -Jr::>,;s income for federal income tax purposes of the holders
<br />t.her,2of (other than the holder who is a "substantial user" or a
<br />"r•~l.J.t.~,1 [Jerson" within the meaning of 'Jection 103(b) (9) of the
<br />C.:>:.lcJ, !)Caviueu, that such ruling or technical advice memorandum
<br />:.h.'.1.l l. i\ava be(m re-Iuested by a holder of the Bonds and the
<br />Jorr~~dr 3hall have been afforded an opportunity to participate
<br />in ~ne r2~uest for ruling or technical advice or (c) if
<br />dpplic.Jble, the delivery to the Trustee of a written statement
<br />fro.n .1,1 .\uthorized Borrm~er Rep.resentative to the effect that the
<br />!Jor:-T~t?r has excaeded the maximum amount of capital expenditures
<br />per~~~teJ under Section 103(b)(6)(0} of the CoJe or (d) recei~t
<br />uy t.:1e ,r·.1stee of an opinion of nationally recognized bond
<br />.;ouns1:1l, to th<a! effect that, for any reason whatsoever, the
<br />in~~re,;c Jn the aonus is or has become includable in the gross
<br />inC<>'.~e ::·Jr the purposes of federal income taxation of a holder
<br />t:1er~or -:,c.her than a "substantial user" or a "related person," as
<br />such t.~r;;is .:,re defined in the Code. For purposes of a
<br />Jeccr.nin3tion of Taxability under part (a), {b) or (c) of this
<br />p.:ir:i:1i:-~~h, :rnch a Determination of Taxability shall be deemed [or
<br />all ~ur~JY~s af this Agreement to have occurred on the date borne
<br />by the 5tH.utory not.ice of cleficiency, the date borne by the
<br />puolic •)r private ruling or t~chnical arlvice memorandum or the
<br />Jac.c ·,)ot::\e i>y such statement, as the case may be.
<br />'l'he amount payable by the Borrower as ;i i,:irepayment of
<br />t:1e :lot~ ilnc.i as a premium with respect to the i3onds upon the
<br />occurr~nce of a Determination of Taxability shall be the sum of
<br />the f:~llo,.oing:
<br />(a) 'I'he unpaid principal amount of all Bonds then
<br />Out3tanJin~, plus accrued interest t.o the date of redemption,
<br />plus ,7. r,rc,nium equal to the differ.ence in interest cl ue as stater.l
<br />an,l the .~;l\ount of intei:-est which would have been d ue during such
<br />p~r1.:,,t n;iu the [3onds been payable at d rate equal to 11 above the
<br />i?ri,ne ,l..1t~ (as defined in the Indenture).
<br />(b) ,\n amount. equal to the premium (as calculated
<br />above) E.:ir:-each of the 13on,ls not then Outstanuing \Jut. which was
<br />QUtJt:1n,lin] ,'It the time when such Bond fir-st \.Jas or:-became
<br />t;:ixab le b.l,;eu upon the time e l.1psed be t'..,,een the ,lu.t•J ,,1hen such
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