Agenda - Council - 08/13/2013 - Laserfiche WebLink

Home

(c) Take whatever action at law or in equity may appear necessary or desirable, including without limitation, foreclosure to collect the amounts then due and thereafter to become due, or to enforce performance and observance of any obligation, agreement or covenant of the Company under the Loan Agreement, and also including, without limitation, any remedy set forth in the Indenture, subject to the limitations set forth in the Loan Agreement and the Indenture. Any amounts collected pursuant to action taken upon the happening of an Event of Default will be paid into the Bond Fund and applied in accordance with the provisions of the Indenture. Options and Obligations to Prepay The Company will have the option or the obligation to prepay the amounts payable under the Loan Agreement upon the occurrence of certain events described herein under the caption "THE SERIES 2013BONDS—Redemption of Series 2013Bonds." Amendments, Changes and Modifications Subsequent to the issuance of Bonds and prior to their payment in full (or provision for the payment thereof having been made in accordance with the provisions of the Indenture), and except as otherwise expressly provided in the Loan Agreement, the Loan Agreement may not be effectively amended, changed, modified, altered, or terminated without the written consent of the Trustee, in accordance with the provisions of the Indenture. THE INDENTURE The following is a summa►y of certain provisions contained it? the Indenture and is qualified in its entirety by reference to the Indenture. The definitions for all capitalized terms used herein not otherwise defined can be found in `APPENDIX I —DEFINITIONS OF CERTAIN TERMS AND SUMMARIES OF DOCUMENTS DEFINITIONS" or in the Indenture or the Loan Agreement, unless the context indicates otherwise. Assignment and Security Pursuant to the Indenture, the Issuer's interest in the Loan Agreement and the Pledge Agreement and all amounts payable by the Company to the Issuer under the Loan Agreement or the Pledge Agreement (other than certain indemnification rights and certain fees and expenses of the Issuer), as well as the Issuer's interest in certain moneys and funds held by the Trustee under the Indenture, are assigned to the Trustee by the Issuer to secure the payment of the principal of, premium, if any, and interest on the Bonds. The Revenue Fund The Revenue Fund is created under the Indenture, into which the Company will cause the School pursuant to the Pledge Agreement to deposit all rent payments due under the Lease. In addition, to assure the full and timely deposit of such rent payments, the Trustee is directed to withdraw from the Sweep Account and deposit in the Revenue Fund the amounts payable by the E-8