04-14-2021 Council Packet - Laserfiche WebLink

Home Browse Search

13068670v2 14 B. The Trustee may make payment of any Defaulted Interest on the fully registered Bonds of any series in any other lawful manner, if such payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Bond delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Bond and each such Bond shall bear interest from such date that neither gain nor loss in interest shall result from such transfer, exchange or substitution. Section 2.06 Ownership of Bonds. As to any Bond, the Issuer, the Corporation and the Trustee and their respective successors, each in its discretion, may deem and treat the person in whose name the same for the time being shall be registered, according to the registration records maintained by the Trustee hereunder, as the absolute owner thereof for all purposes and neither the Issuer nor the Trustee nor their respective successors shall be affected by any notice to the contrary. Payment of or on account of the principal of any such Bond shall be made only to or upon the order of the registered owner thereof, but such registration may be changed as above provided. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. Section 2.07 Reissuance of Mutilated, Destroyed, Stolen or Lost Bonds. In case any outstanding Bond shall become mutilated or be destroyed, stolen or lost, the Trustee shall authenticate and deliver a new Bond of like tenor, number and amount as the Bond so mutilated, destroyed, stolen or lost, in exchange and substitution for such mutilated Bond, upon surrender of such mutilated Bond or in lieu of and substitution for the Bond destroyed, stolen or lost, upon filing with the Trustee evidence satisfactory to the Trustee that such Bond has been destroyed, stolen or lost and upon furnishing the Issuer, the Trustee and the Corporation with indemnity satisfactory to them and complying with such other reasonable regulations as the Issuer, the Trustee and the Corporation may establish and payment of any expenses which the Issuer, the Trustee or the Corporation may incur in connection therewith. In the event any such Bond shall have matured, instead of issuing a substitute Bond, the Issuer may pay the same without surrender thereof. Section 2.08 Conditions for Authentication of Series 2021D Bonds. The Trustee shall not authenticate and deliver the Series 2021D Bonds to be issued and delivered pursuant to the Indenture unless theretofore or simultaneously therewith there shall have been delivered to the Trustee the following (other than the items set forth in subparagraphs (e) and (g) below): (a) Certified copies of the Bond Resolution authorizing the issuance of the Series 2021D Bonds and the execution and delivery of the Loan Agreement and this Indenture. (b) Executed counterparts of the Loan Agreement, this Indenture, the Mortgage, the Guaranty, and UCC-1 financing statements of the Corporation, as Debtor, and describing as collateral the tangible personal property described in the granting clauses of the Mortgage, and of the Issuer, as Debtor, and describing as collateral all rights of the Issuer under the Loan Agreement to be assigned hereunder to the Trustee (excluding certain