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

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properties and things necessary for the efficient operation of the Schoolhouse for the purpose contemplated by this Agreement shall have occurred, or technological or other changes shall have occurred which in the judgment of the Company render the continued operation of the Schoolhouse uneconomic for such purposes. (d) If, at any time, as a result of any changes in the Constitution of the State or the Constitution of the United States of America or of legislative or administrative action (whether state or federal) or by final decree, judgment or order of any court or administrative body (whether state or federal) entered after the contest thereof by the Company in good faith, this Agreement shall have become void or unenforceable or impossible of performance in accordance with the intent and purposes of the parties as expressed in this Agreement, or unreasonable burdens or excessive liabilities shall have been imposed on the Company in respect to the Schoolhouse, including, without limitation, federal, state or other ad valorem, property, income or other taxes not being imposed on the date of this Agreement, which in the judgment of the Company render the continued operation of the Schoolhouse uneconomic. To exercise such option, the Company shall, within 60 days following the event authorizing or requiring such redemption, give written notice to the Issuer, and the Trustee, and shall specify therein the date of redeeming the Bonds, which date shall be not less than 50 days nor more than 90 days from the date such notice is mailed, and shall also make arrangements with the Trustee pursuant to the provisions of the Indenture for a redemption of all of the Outstanding Bonds and the giving of the required notice in connection therewith. The amount of money necessary to be deposited for such redemption shall be the same as in Section 9.1 hereof for optional prepayment of the loan. Section 9.3 Relative Position of Options and Indenture. The Company may exercise any of the options granted to it in this Article at any time, and specifically whether or not an Event of Default has occurred under this Agreement. (The remainder of this page is intentionally left blank.) 37 5600$61v1