Laserfiche WebLink
Continuing Disclosure Agreement) or the Holders of at least twenty-five percent (25%) <br /> aggregate principal amount of the Outstanding Bonds, shall), or any Bondholder or <br /> Beneficial Owner may, take such actions as may be necessary and appropriate, including <br /> seeking specific performance by court order, to cause the Borrower to comply with its <br /> obligations. "Beneficial Owner" means any person who (i) has the power, directly or <br /> indirectly, to vote or consent with respect to, or to dispose of ownership of, any Bonds <br /> (including persons holding Bonds through nominees,depositories or other intermediaries), <br /> or(ii) is treated as the owner of any Bonds for federal income tax purposes. <br /> Events of Default <br /> The following are "Events of Default" under the Loan Agreement: <br /> (a) If the Borrower fails to pay the amount of any Loan Repayment and if, <br /> as a result thereof, the principal of, premium, if any, or interest on any Bond is not <br /> paid; or <br /> (b) If the Borrower shall fail to punctually perform any of the other <br /> covenants,conditions,agreements and provisions contained in the Loan Agreement <br /> on the part of the Borrower to be performed,and(except in the case of a payment due <br /> under Section 4.07(c)of the Loan Agreement)such Default shall have continued for <br /> a period of 30 days after written notice, specifying such Default and requiring the <br /> same to be remedied, shall have been given to the Borrower by the City or the <br /> Trustee; or <br /> (c) If any representation or warranty of the Borrower made in the Loan <br /> Agreement or in any report, certificate or financial statement provided by the <br /> Borrower in connection with the Loan Agreement shall prove to be false or <br /> misleading in any material respect; or <br /> (d) If any Event of Default shall exist under the other Loan Documents., <br /> or <br /> (e) If the Borrower files a petition in voluntary bankruptcy, for the <br /> composition of its affairs or for its reorganization under any state or federal <br /> bankruptcy or insolvency law, or makes an assignment for the benefit of creditors, <br /> or consents in writing to the appointment of a trustee or receiver for itself or for the <br /> whole or any substantial part of its property; or <br /> (f) If a court of competent jurisdiction shall enter an order,judgment or <br /> decree declaring the Borrower an insolvent,or adjudging the Borrower bankrupt,or <br /> appointing a trustee or receiver of the Borrower or of the whole or any substantial <br /> part of the property of the Borrower under any applicable law or statute of the United <br /> States of America or any state thereof, and such order,judgment or decree shall not <br /> be vacated or set aside or stayed within 60 days from the date of the entry thereof., <br />