1. MIDA Bond-Bethany on 42nd
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1. MIDA Bond-Bethany on 42nd
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4/16/2008 10:43:45 AM
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<br />instruments and as herein provided, on behalf of the Holders and without the consent of the <br />Issuer. <br /> <br />(b) Subj ect to the terms hereof and of the Mortgage and Assignment, until the <br />happening of an Event of Default hereunder, the Company shall be permitted to possess, use <br />and enjoy the Facilities and to receive and use the issues and profits of the Facilities. The <br />Company is authorized under the Mortgage to obtain release of certain property from the <br />Mortgage under the conditions set forth in the Mortgage; and pursuant to the provisions of <br />the Mortgage the Trustee is authorized to execute the necessary instruments to evidence the <br />release of such property. <br /> <br />SECTION 4.12. CONTINUING DISCLOSURE. Pursuant to Section 7.05 of the Loan <br />Agreement, the Company has undertaken all responsibility for compliance with continuing <br />disclosure requirements, and the Issuer shall have no liability to the Holders of the Bonds or any <br />other person with respect to such disclosure matters. The Trustee hereby covenants and agrees that <br />it will comply with and carry out all of the provisions ofthe Continuing Disclosure Agreement and <br />Section 7.05 ofthe Loan Agreement. Notwithstanding any other provision of the Indenture, failure <br />of the Company or the Trustee to comply with the Continuing Disclosure Agreement shall not be <br />considered an Event of Default; however, the Trustee may (and, at the request of the Underwriter <br />or the Holders of at least twenty-five percent (25%) aggregate principal amount of Outstanding <br />Bonds, shall ) or any Bondholder may take such actions as may be necessary and appropriate, <br />including seeking mandate or specific performance by court order, to cause the Company to comply <br />with its obligations under Section 7.05 of the Loan Agreement or to cause the Trustee to comply with <br />its obligations under this Section 4.13. <br /> <br />(Remainder of this page intentionally left blank.) <br /> <br />4-3 <br />
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