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

Home

(13) The consummation of a merger, consolidation, or acquisition involving the Company or the sale of all or substantially all of the assets of the Company, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; (14) Appointment of a successor or additional trustee or the change of name of a trustee, if material; and (15) Changes or delays in the schedule of funding to charter schools from the State of Minnesota. The Trustee shall, within one (1) business day of obtaining actual knowledge of the occurrence of any of the Listed Events, contact the Disclosure Representative, inform such person of the event, and request that the Company or the School promptly notify the Trustee in writing whether or not to report the event. For purposes of this Disclosure Agreement, "actual knowledge" of such Events shall mean knowledge by an officer of the Trustee at its Corporate Trust Office with responsibility for matters related to the Indenture. Whenever the Company or the School obtains actual knowledge of the occurrence of a Listed Event, because of a notice from the Trustee pursuant to the Company or the School shall as soon as possible determine if such event is required to be reported pursuant to this Section 5. If the Company or the School determines that such event is required to be reported pursuant to the Company or the School shall promptly notify the Trustee and the Significant Bondholders in writing. Such notice shall instruct the Trustee to report the occurrence. If, in response to a request, the Company or the School determines that the event is not required to be reported, the Company or the School shall so notify the Trustee and the Significant Bondholders in writing and instruct the Trustee not to report the occurrence_ If the Trustee has been instructed by the Company or the School to report the occurrence of a Listed Event, the Trustee shall file a notice of such occurrence with the MSRB, with a copy to the Significant Bondholders, the Company and the School. Filing Methods. Any filing under the Disclosure Agreement shall be made by transmitting such filing to the MSRB, through EMMA, as provided at http://www.emma.msrb.org or any similar system that is acceptable to the United States Securities and Exchange Commission. Termination of Reporting Obligations. The obligations of the Company, the School and the Trustee under the Disclosure Agreement shall terminate upon the defeasance, prior redemption or payment in full of all the Bonds. Default. In the event of a failure of the Company, the School or the Trustee to comply with any provision of this Disclosure Agreement, the Significant Bondholders or any Holder of the Bonds may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the Company, the School or the Trustee to comply with its obligations under the Disclosure Agreement. A default under this Disclosure E-8