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

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Section 9.2 Remedies on Event of Default. whenever any Event of Default referred to in Section 9.1 hereof shall have happened and be continuing, the Trustee or the Issuer may take one or any combination of the following remedial steps: (a) By written notice to the Company, declare an amount equal to (i) all amounts then payable on the Bonds, whether by acceleration of maturity (as provided in the Indenture) or otherwise; and (ii) any other amounts then due and payable hereunder or under the Indenture, to be immediately due and payable as liquidated damages under this Loan Agreement and not as a penalty,whereupon the same shall become immediately due and payable; (b) Upon seven (7) Business Days of notice, have reasonable access on any Business Day to and inspect, examine, and make copies of the relevant books and records and any and all relevant accounts, data and income tax and other tax returns of the Company during regular business hours of the Company; (c) File a petition in a court of competent jurisdiction for appointment of a receiver over the Company and its assets, the Company hereby agreeing that, during the occurrence and continuance of an Event of Default hereunder,the Trustee shall be entitled as a matter of right to appointment of a receiver for breach of its obligations hereunder; (d) In addition to all other rights and remedies provided herein or by law, enforce the rights and remedies of a secured party under the UCC; or (e) Take whatever action at law or in equity may appear necessary or desirable, including, without limitation, foreclosure, to collect the amounts then due and thereafter to become due, or to enforce performance and observance of any obligation, agreement, or covenant of the Company under this Loan Agreement, and also including, without limitation, any remedy set forth in the Indenture, subject to the limitations set forth herein and therein. Any amounts collected pursuant to action taken under this Section(except subsection(a)(ii)above) shall be paid into the Bond Fund and applied in accordance with the provisions of the Indenture. Section 9.3 No Remedy Exclusive. No remedy herein conferred upon or reserved to the Trustee or the Issuer is intended to be exclusive of any other available remedy or remedies,but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Loan Agreement or now or hereafter existing at law or in equity. No delay or omission to exercise any right or power accruing upon any Event of Default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right or power may be exercised from time to time and as often as may be deemed expedient. In order to entitle the Issuer and the Trustee to exercise any remedy reserved to them in this Article, it shall not be necessary to give any notice, other than such notice as may be required in this Article. Section 9.4 Agreement to Pay Attorneys' Fees and Expenses. In the event the Company should default under any of the provisions of this Loan Agreement and the Issuer or the Trustee should employ attorneys or incur other expenses for the collection of payments required hereunder or the enforcement of performance or observance of any obligation or agreement on the 37 730911770