1. MIDA Bond Sisters of Presentation
Laserfiche
>
Public/Website
>
County Commission
>
2006
>
10-16-2006
>
Regular agenda
>
1. MIDA Bond Sisters of Presentation
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/10/2006 10:25:37 AM
Creation date
10/10/2006 10:14:25 AM
Metadata
Fields
Template:
Commission
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
59
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />control of the Corporation, the Corporation is unable in whole or in part to carry out the agreements <br />on its part herein contained, other than the obligations on the part of the Corporation to make Basic <br />Payments, Additional Payments and taxes and to carry insurance, all under the provisions of Aliicle <br />4 and Article 5 hereof, the Corporation shall not be deemed in default during the continuance of such <br />inability. The Corporation shall, however, use its best efforts to remedy with all reasonable dispatch <br />the cause or causes preventing it from carrying out its agreements; provided, that the Corporation <br />shall in no event be required to settle strikes, lockouts, or other industrial disturbances by acceding <br />to the demands of the opposing party or parties when such course is, in the judgment of the <br />Corporation, unfavorable to it. <br /> <br />SECTION 9,02. ISSUER'S REMEDIES. Whenever any Event of Default shall have happened <br />and be subsisting, the Issuer may, and the Issuer hereby authorizes the Lender, on behalf of the <br />Issuer (without prior written notice to the Issuer) to, take at its discretion anyone or more of the <br />following remedial steps: <br /> <br />(a) Declare all Basic Payments, Additional Payments and other amounts payable <br />under Section 4.02 and 4.03 hereof for the remainder of the term of this Loan Agreement <br />(being an amount equal to the sum necessary to pay in full the remaining principal of, <br />premium, if any, and interest on the Bonds, assuming acceleration of the Bonds, and to pay <br />all other obligations and indebtedness hereunder and thereunder) to be immediately due and <br />payable, whereupon the same shall become immediately due and payable by the <br />Corporation. <br /> <br />(b) Require the Corporation to furnish copies of all books and records of the <br />Corporation peliaining to the Facilities. <br /> <br />(c) Take whatever action at law or in equity may appear necessary or appropriate <br />to collect the Basic Payments and Additional Payments then due and thereafter to become <br />due hereunder, or to enforce performance and observance of any obligation, agreement, or <br />covenant of the Corporation under this Loan Agreement. <br /> <br />SECTION 9.03. MANNER OF EXERCISE. No remedy herein conferred upon or reserved to <br />the Issuer is intended to be exclusive of any other available remedy or remedies, but each and every <br />such remedy shall be cumulative and shall be in addition to every other remedy given under this <br />Loan Agreement or now or hereafter existing at law or in equity. No delay or omission to exercise <br />any right or power occurring upon any default shall impair any such right or power or shall be <br />construed to be a waiver thereof, but any such right and power may be exercised from time to time <br />and as often as may be deemed expedient. In order to entitle the Issuer to exercise any remedy <br />reserved to it in this Article 9, it shall not be necessary to give any notice, other than such notice as <br />may be herein expressly required. <br /> <br />SECTION 9.04. ATTORNEYS' FEES AND EXPENSES. In the event the Corporation should <br />default under any of the provisions of this Loan Agreement and the Lender or the Issuer should <br />employ attorneys or incur other expenses for the collection of Basic Payments or the enforcement <br />of performance of any obligation or agreement on the part of the Corporation, the Corporation will <br /> <br />9-2 <br /> <br />1 T !JIlIl"ll' _-KW'" <br />
The URL can be used to link to this page
Your browser does not support the video tag.