Agenda - Council - 07/12/2022 - Laserfiche WebLink

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pursuant to this Loan Agreement, from amounts held by the Trustee under the Indenture, or from the proceeds of any Security Agreement. Neither the full faith and credit or the taxing power of the State or any political subdivision thereof nor the full faith and credit or the taxing power of the Issuer is pledged to the payment of the principal of or interest on the Bonds. The Company hereby acknowledges that the Issuer's sole source of money to repay the Bonds will be provided by the payments made by the Company pursuant to this Loan Agreement, or the collateral held by the Trustee therefor, and amounts credited to certain Funds held by the Trustee under the Indenture, and hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal of and interest on the Bonds as the same shall become due (whether by maturity, redemption, acceleration or otherwise), then upon notice from the Trustee, the Company shall pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal of or interest on the Bonds, including, but not limited to, any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the Company, the Issuer or any third party, subject to any right of reimbursement from the Trustee, the Issuer or any such third party, as the case may be, therefor. (d) The Company's covenants in this Section shall survive the payment of the Bonds, the termination of the Indenture, the termination of this Loan Agreement, and the resignation or removal of the Trustee. Section 8.3 Redemption of Bonds. The Company shall have and is hereby granted the option to prepay from time to time the amounts payable under this Loan Agreement in sums sufficient to redeem or to pay or cause to be paid all or part of the Bonds in accordance with the provisions of the Indenture. Upon the agreement of the Company to deposit money in the Bond Fund in an amount sufficient to redeem Bonds subject to redemption, the Issuer, at the request of the Company, shall forthwith take all steps (other than the payment of the money required for such redemption) necessary under the applicable redemption provisions of the Indenture to effect redemption of all or part of then Outstanding Bonds, as may be specified by the Company, on the date established for such redemption. Section 8.4 Maintenance of Security Interest. (a) The Company shall, at its expense,take all necessary action to maintain and preserve the lien and security interest of the Mortgage and this Loan Agreement so long as any Bond is Outstanding. (b) The Company covenants that, except for Permitted Encumbrances, it will not mortgage, grant a deed of trust lien upon (other than the Mortgage), pledge, grant a security interest in, or make an assignment of any of its revenues or property, including without limitation its accounts, contract rights, general intangibles, or the proceeds of any thereof, or any of the Mortgaged Property or the proceeds thereof. (c) The Company covenants that it will cause all financing statements (including continuation statements, but excluding the initial financing statements dated as of the Date of Issuance, which are required to be filed by the Title Insurer under the terms of the Disbursing Agreement) related to the Indenture and all supplements thereto and this 33 730911770