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

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instruments as may be required or recommended from time to time by Company's counsel or by Bond Counsel to be kept, to be recorded and filed in such manner and in such places as may from time to time be required by law in order to preserve and protect fully the security of the Registered Owners of the Bonds and the rights of the Trustee hereunder, and, upon advice of counsel, to take or cause to be taken any and all other action necessary to perfect the security interest created by this Indenture, all at the expense of the Company. Section 4.05 Inspection of Books. All books and records in the Issuer's possession relating to the Schoolhouse and the amounts derived from the Schoolhouse shall at all reasonable times be open to inspection by such accountants or other agents as the Trustee or Majority Bondholder may from time to time designate in writing. Section 4.06 Rights Under Loan Agreement. The Loan Agreement, a duly executed counterpart of which has been filed with the Trustee, sets forth the covenants and obligations of the Issuer and the Company, including provisions that subsequent to the issuance of Bonds and prior to their payment in full or provision for payment thereof in accordance with the provisions hereof, the Loan Agreement may not be effectively amended, changed, modified, altered or terminated without the written consent of the Trustee, and reference is hereby made to the Loan Agreement for a detailed statement of said covenants and obligations of the Company thereunder, and the Issuer agrees that the Trustee in its name or in the name of the Issuer may enforce all rights of the Issuer and all obligations of the Company under and pursuant to the Loan Agreement for and on behalf of the Registered Owners, whether or not the Issuer is in Default hereunder. Section 4.07 Designation of Trustee as Bond Registrar and Paying Agent; Designation of Any Additional Paying Agents. The Trustee is hereby designated and agrees to act as Bond Registrar and paying agent for and in respect to the Bonds. The Issuer hereby agrees to cooperate with the Trustee and the Company, when requested, and at the Company's expense, in designating any additional paying agents and in making available funds hereunder in payment of such of the Bonds as shall be presented when due at the principal office(s) of said additional paying agent(s). Section 4.08 Determination of Taxability (a) At such time as the Trustee receives written notification of a Determination of Taxability, the Trustee shall notify the Company, the Issuer, and LMMA thereof by certified mail, return receipt requested, postage prepaid. (b) In the event the Trustee receives written notice from the Company that it is electing to contest a potential Determination of Taxability pursuant to Section 6.8 of the Loan Agreement, the Trustee shall promptly notify the Majority Bondholder and all Registered Owners of the Series A Bonds of such election. (The remainder of this page is intentionally left blank.) 24 5600797v1