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interest; and <br /> (ii) there shall be filed with the Trustee an opinion of Bond <br /> Counsel to the effect that the incurring of such Senior Indebtedness and the <br /> refunding of Bonds or other Senior Indebtedness with the proceeds thereof <br /> will not cause interest on any Tax-Exempt Bonds to be included in gross <br /> income for federal income tax purposes. <br /> (c) Any additional Senior Indebtedness may be secured by the Mortgage <br /> on parity with the Bonds,but the additional Senior Indebtedness shall not be secured <br /> by any amounts in the Debt Service Reserve Fund (except any Additional Bonds <br /> payable from such Senior Indebtedness would be secured by the Debt Service <br /> Reserve Fund);provided,however,that the Borrower shall not secure nor attempt to <br /> secure such Senior Indebtedness with an interest in the property secured under the <br /> Mortgage except in accordance with the terms of an agreement satisfactory to the <br /> Trustee. <br /> (d) Any default under any agreement for repayment of Senior Indebtedness <br /> shall be a default under the Loan Agreement and there shall be included in any <br /> agreement for repayment of such Senior Indebtedness a provision that any default <br /> under the Loan Agreement shall be a default under such agreement. In addition,any <br /> agreement for repayment of such Senior Indebtedness shall include a provision that, <br /> prior to exercising any remedies upon a default by the Borrower under such <br /> agreement, the holder or holders of such Senior Indebtedness (or a trustee <br /> representing such holders) shall cooperate with the Trustee to the end that the <br /> interests of such holder or holders and the Bondholders shall be equally protected. <br /> Subordinate Debt. The Borrower may incur such Subordinate Debt as in the <br /> Borrower's judgment may be deemed expedient for the payment of working capital so long <br /> as the consent thereto is obtained from a majority by principal amount of the holders of then <br /> outstanding Subordinate Debt(other than holders of Subordinate Debt to be fully repaid from <br /> proceeds of the new Subordinate Debt) and prior notice thereof is given to a Majority of <br /> Holders; provided however, that the terms thereof shall expressly provide that such <br /> Indebtedness is payable only from Net Revenues Available for Subordinate Debt Service so <br /> long as any Senior Bonds are outstanding, and any lien securing the Indebtedness and all <br /> rights of payment and enforcement shall be subordinated to the payment of outstanding <br /> Senior Bonds, enforcement of rights in respect thereof and the lien of the Subordinate <br /> Mortgage, as evidenced by an agreement between the holder of such Subordinate Debt and <br /> the Trustee (consented to by the Borrower). <br /> Continuing Disclosure. The Borrower covenants and agrees that it will comply with <br /> and carry out all of the provisions ofthe Continuing Disclosure Agreement. Notwithstanding <br /> any other provision of the Loan Agreement, failure of the Borrower to comply with the <br /> Continuing Disclosure Agreement shall not be considered an Event of Default;however,the <br /> Trustee may (and, at the request of any Participating Underwriter (as defined in the <br />