Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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_ Section 5.16. Continuing Disclosure to Owners. Pursuant to the Installment Purchase Contract, the Ciry has undertaken all responsibility for compliance with continuing disctosure requirements with respect to the Bonds, and the Authority shall have no liability to the holders of the Bonds or any other person with respect to such disclosure matters. Notwithstanding any other provision of this Indenture, failure of the City to comply with the Continuing Disclosure Certificate shall not be considered an Event of Default; provided, however, that the Trustee shall, at the written di�ection of any Participating Undervvriter (as defined in the Continuing Disclosure Agreement) or the holders of at least 25°� agg�egate principal amount of Outstanding Bonds, but only to the extent indemnified for its fees and expenses, including those of its attorneys, or any holder or beneficial owner of the Bonds may, take such actions as may be necessary and appropriate to compel performance, including seeking mandate or specific performance by court order. Section 5.17. Continued Existence of the Authority. The Authority will take or cause to be taken all actions reasonably necessary to continue its existence until such time as the Bonds have been paid in full, including but not limited to the addition or substitution of one or more new members. ARTICLE VI DEFAULT AND LIMITATIONS OF LIABILITY Section 6.01. Events of Default. One or more of the following shall constitute an Event of Default hereunder: (a) default shall be made in the due and punctual payment by the Authority of any payment of principal of or interest on the Bonds when and as the same shall become due and payable; (b) default shall be made by the Authoriry in the performance of any of the other agreements or covenants contained herein required to be performed by it, and such default shall have continued for a period of sixty (60) days after the Authority shall have been given notice in writing of such default by the Trustee; (c) the Authority shall file a petition seeking arrangement or reorganization under federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property; (d) an event of default shall have occurred with respect to any Additional Bonds; or (e) an event of default shall have occurred under the Installment Purchase Contract. 30