AgdaPkt 2005-01-24 - Laserfiche WebLink

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established under the Indenture or in a reserve fund established under such Supplemental Indenture. (b) Payment Dates. The scheduled principal and interest payable with respect to such Additional Bonds shall be payable only on Interest Payment Dates applicable to the Bonds. (c) Amendment of Installment Purchase Contract. The Installment Purchase Contract shall have been amended, if necessary, to (i) increase or adjust the Installment Payments due and payable on each Installment Payment Date to an amount sufficient to pay the principal, premium (if any) and interest payable with respect to all Outstanding Bonds, including all Additional Bonds as and when, if any, the same mature or become due and payable (except to the extent such principal, premium and interest may be payable out of moneys then in the Reserve Fund or otherwise on deposit with the Trustee in accordance with this Indenture), (ii) if appropriate, amend the definition of the Project to include as part of the Project all or any portion of additions, betterments, extensions, improvements or replacements, or such other real or personal property, to be financed, acquired or constructed or otherwise made subject to the Installment Purchase Contract, by the preparation, execution and delivery of such Additional Bonds, and (iii) make such other revisions to the Installment Purchase Contract as are necessitated by the issuance of such Additional Bonds (provided, however, that such other revisions shall not prejudice the rights of the Owners of Outstanding Bonds as granted them under the terms of this Indenture). (d) No Default of Authority. The Trustee shall have received a Certificate of the Authority that no Event of Default under the Indenture relating to the Authority exists (or any event which, once all notice or grace periods have passed, would constitute an Event of Default). (e) No Default of City. The Trustee shall have received a certificate of the City that no Event of Default under the Indenture relating to the City, which includes an Event of Default under the Installment Purchase Contract, exists (or any event which, once all notice or grace periods have passed, would constitute an Event of Default). (f) Opinion Regarding Supplemental Indenture. The Trustee shall have received an opinion of Bond Counsel substantially to the effect that (i) the Supplemental Indenture and the amendments to the Installment Purchase Contract comply in all respects with the requirements of the Indenture, (ii) the Supplemental Indenture and said amendments to the Installment Purchase Contract have been duly authorized, executed and delivered by each of the respective parties thereto (provided that said opinion of Bond Counsel, in rendering the opinions set forth in this clause (ii), shall be entitled to rely upon one or more other opinions of counsel, including counsel to any of the respective parties to said Supplemental I ndenture or said amendments to the Installment Purchase Contract), (iii) assuming that no Event of Default has occurred and is continuing, the Indenture, as amended by the Supplemental Indenture, and the Installment Purchase Contract, as amended by the respective amendments thereto, constitute the legal, valid and binding obligations of the respective parties thereto, enforceable against said parties in accordance with their respective terms (except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, moratorium, debt adjustment or other laws affecting creditors' rights generally, and except to the extent that enforcement thereof may be limited by general principles of equity, regardless of whether enforcement is sought in a legal or equitable proceeding) and (iv) the execution of the Supplemental Indenture and the amendments to the Installment Purchase Contract, and performance by the parties thereunder, will not result in the inclusion of the interest on any Bonds in the gross income of the Owners of the Bonds for purposes of federal income taxation. 14