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"Nonpurpose Receipts" means, in general, any receipt with <br /> respect to an investment allocated to the Bonds. The following <br /> types of receipts are specifically included: <br /> (a) Actual Receipts. Any amount actually or <br /> constructively received with respect to an investment. <br /> Actual receipts may not be reduced by selling commissions, <br /> administrative expenses or similar expenses. <br /> (b) Disposition Receipts. An amount determined by <br /> treating an investment that ceases to be allocated to the <br /> Bonds (other than by reason of a sale or retirement) as if <br /> sold for fair market value on the date that the investment <br /> ceases to be allocated to the Bonds. <br /> (c) Installment Date Receipts. The fair market value <br /> (or, for fixed rate investments, present value) of all <br /> investments allocated to the Bonds at the close of business <br /> on any Computation Date. <br /> (d) Imputed Receipts. Any receipts that are required <br /> to be imputed and taken into account pursuant to Section <br /> 1. 148-5T of the Temporary Income Tax Regulations or any <br /> successor Temporary Income Tax Regulations. <br /> "Nonpurpose Payments" means, in general, any payment with <br /> respect to an investment allocated to the Bonds. The following <br /> types of payments are specifically included: <br /> (a) Direct Payments. The amount of gross proceeds of <br /> the Bonds directly used to purchase the investment. Direct <br /> payments to not include brokerage commission, administrative <br /> expenses or similar expenses. <br /> (b) Constructive Payments. The fair market value (as <br /> of the date of allocation of the Bonds) of any investment <br /> that was not directly purchased with gross proceeds of the <br /> Bonds, but which is allocated to the Bonds. <br /> -3- KR113 90/09/17 <br />