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• <br /> (m) "Nonpurpose Investment" means any security, obligation <br /> or other investment-type property (except an obligation which is <br /> itself exempt from federal income taxation pursuant to Section <br /> 103 (a) of the Code) in which Gross Proceeds of the Bonds are <br /> invested and which is not required to carry out the governmental <br /> purpose of the Bonds . <br /> (n) "Prohibited Payment" means a payment (or agreement to <br /> pay) to a person other than the United States an amount as a <br /> result of entering into a transaction which reduces the Rebate <br /> Amount with respect to the Bonds or produces a smaller profit or <br /> a larger loss than would have resulted if the transaction had <br /> been at arm' s length and the Yield on the Bonds had not been <br /> relevant to either party. <br /> (o) "Rebate Amount" with respect to the Bonds means an <br /> amount equal to the sum of <br /> (i) the excess of (A) the aggregate amount <br /> earned from the Date of Issue of the Bonds <br /> on all Nonpurpose Investments in which <br /> Gross Proceeds of the Bonds are invested <br /> (not including income attributable to the <br /> excess amount described in this clause <br /> (i) ) over (B) the amount that would have <br /> been earned if the Yield on such Nonpur- <br /> pose Investments (not including income <br /> attributable to the excess amount <br /> described in this clause ( i) ) had been <br /> equal to the Yield on the Bonds , plus <br /> ( ii) all income attributable to the excess <br /> amount described in clause ( i) whether or <br /> not that income exceeds the Yield on the <br /> Bonds ( i .e. , whether or not that income <br /> was earned at a Yield higher than the <br /> Yield on the Bonds) . <br /> - 5 - <br />