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

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(m) The Trustee shall have no responsibility with respect to any information, statement or recital in any official statement, offering memorandum or other disclosure document prepared or distributed in connection with the Bonds. (n) All money received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received but needs not be segregated from other funds except to the extent required by law. The Bond Trustee shall not be under any liability for interest on any money received hereunder except such as may be agreed upon in writing. (o) Without limiting the duties of the Trustee expressly set forth herein, the Trustee shall have no obligation or responsibility whatsoever in connection with (i) any federal or state tax-exempt status of the Tax-Exempt Bonds or the interest thereon; (ii) the consequences of the investment or noninvestment of any funds or accounts relating to the Tax-Exempt Bonds or the use of proceeds of the Tax-Exempt Bonds under Section 148 of the Code; (iii) the calculation of any amount required to be rebated to the United States under Section 148 of the Code; or (iv) compliance by the Issuer, the Company or the Charter School with the Tax Certificate. (p) To the extent that it is necessary for the Trustee to determine whether any person is a Beneficial Owner under a book-entry system maintained by a securities depository, the Trustee shall be entitled to receive and shall be fully protected in relying upon a certification of such person setting forth in satisfactory detail the principal balance and bond certificate owned and any participants through which such bond certificate is held. The Trustee shall be entitled to rely conclusively on information it receives from DTC or other applicable securities depository, its direct participants and the indirect participating brokerage firms for such participants with respect to the identity of a Beneficial Owner. The Trustee shall not be deemed to have actual or constructive knowledge of the books and records of DTC or its participants and shall not be responsible for the accuracy of such books and records. The Trustee shall not be liable for any action taken or omitted by it in good faith at the direction of the Majority Bondholder as to the time, method and place of conducting any proceedings for any remedy available to the Trustee or the exercising of any power conferred by this Indenture, the Loan Agreement or any Security Document. Any action taken, or omitted to be taken, by the Trustee in good faith pursuant to this Indenture, the Loan Agreement or any Security Document upon the request, authority or consent of any person who, at the time of making such request or giving such authority or consent, is a Beneficial Owner of a Bond shall be conclusive and binding upon all future holders of such Bond or Bond executed and delivered in exchange therefor or in place thereof. (q) Subject to its duties during the occurrence and continuance of an Event of Default of which it has notice in accordance with paragraph (h) of this Section 9.1, the Trustee shall not be bound to make any investigation into or verification of the facts, opinions, calculations, protections, estimates, recommendations or other matters stated in any certificate, opinion, report, study, financial statement, funding applications or submissions, notice, request, Company Request, direction, resolution, consent, plan, order or other paper or document submitted to the Trustee by the Company, the Charter School 65 735810810