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• <br /> the Rebate Computation Certificate and, as of each Computation <br /> Date, will be the excess of: <br /> (a) The future value of all Nonpurpose Receipts <br /> with respect to the Bonds; over <br /> (b) The future value of all Nonpurpose Payments <br /> with respect to the Bonds . <br /> The future value will be computed as of each Computation Date . <br /> C. Payment Procedure . The payment of Rebatable <br /> Arbitrage due as of each Installment Computation Date will be <br /> paid no later than the date that is 60 days after the Installment <br /> Computation Date . <br /> The payment of Rebatable Arbitrage due as of the Final <br /> Computation Date will be paid no later than the latest of (a) the <br /> date that is 60 days after the Final Computation Date, (b) the <br /> date that is 8 months after the date of issuance of the Bonds, <br /> (c) the date 60 days after the earlier of the date that the City <br /> no longer expects to spend gross proceeds of the Bonds within 6 <br /> months of the date of issuance of the Bonds or 12 months after <br /> the date of issuance of the Bonds . <br /> Each payment of Rebatable Arbitrage will be made to the <br /> Internal Revenue Center, Philadelphia, Pennsylvania 19225 and <br /> will be accompanied by the appropriate IRS Form. <br /> D. Other Methodology. Notwithstanding this <br /> Section 9, payments of Rebatable Arbitrage will be made in <br /> accordance with instructions provided by bond counsel if <br /> -16- FWWOOH.DOC 93/01/08 <br />