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

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determined either by parties (such as the bond counsel) unaffiliated with the Borrower or the Issuer or by an approving vote of the registered owners of the Series 2013 Bonds pursuant to the terms of the Resolution at the time of the amendments. The Annual Report containing amended operating data or financial information resulting from such amendment or waiver, if any, will explain, in narrative form, the reasons for the amendment or waiver and the impact of the change in the type of operating data or financial information being provided. If an amendment or waiver is made specifying the accounting principles to be followed in preparing financial statements, the Annual Report for the year in which the change is made will present a comparison between the financial statements or information prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles. Such comparison will include a qualitative discussion of the differences in the accounting principles and the impact of the change in the accounting principles on the presentation of the financial information in order to provide information to investors to enable them to evaluate the ability of the Borrower to meet its obligations. To the extent reasonably feasible, such comparison also will be quantitative. If the accounting principles of the Borrower change, the Borrower will, or will cause the Trustee to, provide a copy of such notice to the Issuer and give notice of such change in the same manner as for a Notice of Listed Event. The Borrower will, or will cause the Trustee to, provide a copy of such notice to the Issuer. Section 10. Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent the Borrower and the School from disseminating any other information, using the means of dissemination set forth in this Disclosure Agreement or any other means of communication, or including any other information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. If the Borrower or the School chooses to include any information in any Annual Report or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Agreement, the Borrower and the School shall have no obligation under this Disclosure Agreement to update such information or include it in any future Annual Report or notice of occurrence of a Listed Event. Section 11. Default. In the event of a failure of the Borrower, the School or the Trustee to comply with any provision of this Disclosure Agreement, the Significant Bondholders or any Holder of the Securities may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the Borrower, the School or the Trustee to comply with its obligations under this Disclosure Agreement. A default under this Disclosure Agreement shall not be deemed an event of default with respect to the Securities and the sole remedy under this Disclosure Agreement in the event of any failure of the Borrower, the School or the Trustee to comply with this Disclosure Agreement shall be an action to compel performance. Section 12. Duties_ Immunities and Liabilities of Trustee. The Trustee shall have only such duties as are specifically set forth in this Disclosure Agreement, and the Borrower agrees to indemnify and save the Trustee and its respective officers, directors, employees and agents, harmless against any loss, expense and liabilities which they may incur arising out of or in the exercise or performance of their powers and duties hereunder, including the costs and expenses -7-