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�. �,:_�,s�,�.. _ Section 5.08. Extension of Payment of Bonds. The Authority shall not directly or indirectly extend or assent to the extension of the maturity of any of the Bonds or the time of payment of any claims for interest by the purchase of such Bonds or by any other arrangement, and in case the maturity of any of the Bonds or the time of payment of any such claims for interest shall be extended, such Bonds or claims for interest shall not be entitled, in case of any default hereunder, to the benefits of this Indenture, except subject to the prior payment in full of the principal of all of the Bonds then Outstanding and of all claims for interest thereon which shall not have been so extended. Nothing in this Section 5.08 shall be deemed to limit the right of the Authoriiy to issue Bonds for the purpose of refunding any Outstanding Bonds, and such issuance sha11 not be deemed to constitute an extension of maturity of the Bonds. Section 5.09. Tax Covenants. The Authority hereby covenants that it shall not make or permit any use of the proceeds of the Bonds that may cause the Bonds to be "arbitrage bonds" within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended. The Authority will not take or omit to take any action or make any use of the proceeds of the Bonds or of any other moneys or property which would cause the Bonds to be "private activity bonds" within the meaning�of Section 141 of the Code. The Authority agrees to comply with the covenants contained in, and insiructions given pursuant to, the ta�c and non-arbitrage certificate provided to the Authority by Nossaman LLP. Section 5.10. Power to Issue Bonds and Make Pled�e and Assignment. The Authority is duly authorized pursuant to law to issue the Bonds and.to enter into this Indenture and to pledge and assign the Revenues and other assets purported to be pledged and assigned, respectively, under this Indenture in the manner and to the extent provided in this Indenture. The Bonds and the provisions of this Indenture are and will be the legal, valid and binding special obligations of the Authority in accordance with their terms, and the Authority and the Trustee shall at all times, subject to the provisions of Article VII and to the extent permitted by law, defend, preserve and protect said pledge and assignment of Revenues and other assets and all the rights of the Bond Owners under this Indenture against all claims and demands of all persons whomsoever. Section 5.11. Pavment of Claims. The Authority will pay and discharge any and all lawful claims for labor, materials or supplies which, if unpaid, might become a lien on the Revenues or any part thereof or on any funds in the control of the Authority or the Trustee prior or superior to the lien of the Bonds or which might impair the security of the Bonds;provided the Authority shall not be obligated to make such payment so long as the Authority contracts such payment in good faith. . � Section_ 5.12. No Additional Obli ations. The Authority covenants that no additional bonds, notes or other indebtedness shall be issued or incurred yvhich are payable out of the � Revenues in whole or in part, except as provided herein.with respect to Additional Bonds. Section 5.13. Rebate of Excess Investment Earnings to United States. (a) Obli�ation to Calculate Excess Investment Earnin�s. The Authority shall calculate or cause to be calcul�ted, and shall provide or cause to be provided written notice to the Trustee of, the excess investment earnings (as defined in the Code, "Excess Investment -29- 338471 1.DOC