Agenda - Economic Development Authority - 05/24/2005

Home

ARTICLE XIII MISCELLANEOUS Section 13.01 Covenants of Issuer Bind Successors and AssiKns. All the covenants, stipulations, promises and agreements in fi'tis Indenture contained, by or in behalfofthe Issuer, shall bind and inure to the benefit of its successors and assigns, whether so expressed or not. Section 13.02 ImmuniW of Officers. No recourse for the payment of any part of the principal of or intarest on any Bond or for the satisfaction of any liability arising from, founded upon or existing by reason of the issue, purchase or ownership of the Bonds shaIl be had against any officer, member or agent of the Issuer or its Board, the City or its governing body, as such, all such liability being hereby expressly released and waived as a condition_.of and as a part of the consideration for the execution of this Indenture and the issuance of the Bonds. Section 13.03 No Benefits to Outside Parties. Nothing in th/s Indenture, express or implied, is intended or shall be construed to confer upon or to give to any person or corporation, other than the City, the parties hereto and the Holders of the Bonds issued hereunder, any fight, remedy or claim under or by reason of this Indenture or covenant, condition or stipulation thereof; and the covenants, stipulations and agreements in this Indenture contained are and shall be for sole and exclusive benefit of the City, the Parties hereto, their successors and assigns, and the Holders of the Bonds. Section 13.04 S_eparabiliW of Indenture Provisions. In case any one or more of the provisions contained in this Indenture or in the Bonds shall for any reason be held to be incalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforeeability shall not affect any other provisions of this Indenture, but this Indenture shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein. Section 13.05 Execution of Indenture in Counterparts. This Indenture may be simultaneously executed in several counterparts, each. of which, when so executed, shall be deemed to be an original, and sUCh counterparts shall together constitute one and the same instrument. Section 13.06 Headings Not Controlling..The headings oft. he several. Articles and Sections hereof are inserted for the convenience of reference only and shall not control or affect the meaning or construction of any of the provisions hereof. Section 13.07 Notices etc., to Trustee, Issuer, City and Insurer. Any request, demand, authorization, direction, notice, consent of Bondholders or other document provided or permitted by this Indenture shall be sufficient for any purpose under tttis Indenture or the Lease when personally delivered or mailed by first class mai!,_ postage prepaid (except as otherwise provided in this Indenture) (with a copy to the other parties) at the following addresses (or such other address as may be provided by any party by notice), or tetecopied, to l~e followed immediately by first ct~s mail, and shall be deemed to be effective upon receipti' 128 1763903vl