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<br />24 <br />Trustee determines to be reasonably necessary for the enforcement of all of its rights thereunder <br />as assignee of the Authority and for the enforcement of all of the obligations of the City thereunder. <br /> <br />Section 5.16. Continuing Disclosure to Owners. Pursuant to the Installment Purchase <br />Contract, the City has undertaken all responsibility for compliance with continuing disclosure <br />requirements with respect to the Bonds, and the Authority shall have no liability to the holders of <br />the Bonds or any other person with respect to such disclosure matters. Notwithstanding any other <br />provision of this Indenture, failure of the City to comply with the Continuing Disclosure Certificate <br />shall not be considered an Event of Default; provided, however, that the Trustee shall, at the <br />written direction of any Participating Underwriter (as defined in the Continuing Disclosure <br />Agreement) or the holders of at least 25% aggregate principal amount of Outstanding Bonds, but <br />only to the extent indemnified for its fees and expenses, including those of its attorneys, or any <br />holder or beneficial owner of the Bonds may, take such actions as may be necessary and <br />appropriate to compel performance, including seeking mandate or specific performance by court <br />order. <br /> <br />Section 5.17. Continued Existence of the Authority. The Authority will take or cause to <br />be taken all actions reasonably necessary to continue its existence until such time as the Bonds <br />have been paid in full, including but not limited to the addition or substitution of one or more new <br />members. <br /> <br /> <br />ARTICLE VI <br /> <br />DEFAULT AND LIMITATIONS OF LIABILITY <br /> <br />Section 6.01. Events of Default. One or more of the following shall constitute an Event <br />of Default hereunder: <br /> <br />(a) default shall be made in the due and punctual payment by the Authority of <br />any payment of principal of or interest on the Bonds when and as the same shall become <br />due and payable; <br /> <br />(b) default shall be made by the Authority in the performance of any of the <br />other agreements or covenants contained herein required to be performed by it, and such <br />default shall have continued for a period of sixty (60) days after the Authority shall have <br />been given notice in writing of such default by the Trustee; <br /> <br />(c) the Authority shall file a petition seeking arrangement or reorganization <br />under federal bankruptcy laws or any other applicable law of the United States of America <br />or any state therein, or if a court of competent jurisdiction shall approve a petition filed with <br />the consent of the Authority seeking arrangement or reorganization under the federal <br />bankruptcy laws or any other applicable law of the United States of America or any state <br />therein, or if under the provisions of any other law for the relief or aid of debtors any court <br />of competent jurisdiction shall assume custody or control of the Authority or of the whole <br />or any substantial part of its property; <br /> <br />(d) an event of default shall have occurred with respect to any Additional <br />Bonds; or <br /> <br />8.A. - Page 144 of 255 <br />772