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<br />20 <br /> <br />ARTICLE IV <br /> <br />REDEMPTION OF BONDS <br /> <br />Section 4.01. Terms of Redemption. The Series 2024 Bonds are not subject to <br />redemption prior to their stated maturity date. <br /> <br /> <br />ARTICLE V <br /> <br />COVENANTS OF THE AUTHORITY AND THE TRUSTEE <br /> <br />Section 5.01. Compliance with Indenture. The Authority will not suffer or permit any <br />material default by it to occur hereunder, but will faithfully comply with, keep, observe and perform <br />all the agreements, conditions, covenants and terms hereof required to be complied with, kept, <br />observed and performed by it. <br /> <br />Section 5.02. Observance of Laws and Regulations. The Authority will faithfully comply <br />with, keep, observe and perform all valid and lawful obligations or regulations now or hereafter <br />imposed on it by contract, or prescribed by any law of the United States of America or of the State <br />of California, or by any officer, board or commission having jurisdiction or control, as a condition <br />of the continued enjoyment of each and every franchise, right or privilege now owned or hereafter <br />acquired by it, including their right to exist and carry on their respective businesses, to the end <br />that such franchises, rights and privileges shall be maintained and preserved and shall not <br />become abandoned, forfeited or in any manner impaired. <br /> <br />Section 5.03. Prosecution and Defense of Suits. The Authority will promptly, upon <br />request of the Trustee or any Owner, take such action from time to time as may be necessary or <br />proper to remedy or cure any cloud upon or defect in the lien on the Revenues or any part thereof, <br />whether now existing or hereafter developing, will prosecute all actions, suits or other proceedings <br />as may be appropriate for such purpose and will indemnify and save the Trustee and every Owner <br />harmless from all cost, damage, expense or loss, including attorneys’ fees, which they or any of <br />them may incur by reason of any such cloud, defect, action, suit or other proceeding. <br /> <br />Section 5.04. Accounting Records and Statements. The Trustee will keep proper <br />accounting records in which correct entries shall be made of all transactions of the Trustee relating <br />to the receipt, deposit and disbursement of the Installment Payments, and such accounting <br />records shall be available for inspection by the Authority or any Owner or his or her agent duly <br />authorized in writing on any Business Day upon reasonable notice at reasonable hours and under <br />reasonable conditions prescribed by the Trustee. So long as any Bonds are Outstanding, the <br />Trustee will furnish each month to the Authority and any Owner who may so request in writing (at <br />the expense of such Owner) a statement covering the receipts, deposits and disbursements of <br />the Installment Payments for the preceding monthly period; provided; that the Trustee shall not <br />be obligated to deliver an accounting for any fund or account that (i) has a balance of zero, or (ii) <br />has not had any activity since the last reporting date. <br /> <br />Section 5.05. Further Assurances. Whenever and so often as requested to do so by the <br />Trustee or any Owner, the Authority will promptly execute and deliver or cause to be executed <br />and delivered all such other and further assurances, documents or instruments and promptly do <br />or cause to be done all such other and further things as may be necessary or reasonably required <br />8.A. - Page 140 of 255 <br />768