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06-08-2022 Council Packet
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06-08-2022 Council Packet
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73495160v3 <br /> <br /> <br />37 <br /> <br />ARTICLE VI <br />AMENDMENTS TO FUNDING LOAN AGREEMENT AND BORROWER LOAN <br />AGREEMENT <br />Section 6.1 Amendments to Funding Loan Agreement. Any of the terms of this Funding <br />Loan Agreement, including the “basic loan terms” specified on the Schedule of Financial Terms and the <br />Governmental Note may be amended or waived only by an instrument signed by the Funding Lender, the <br />Controlling Person and the Borrower and consented to by the Governmental Lender. Notwithstanding the <br />foregoing, any of the “other terms” set forth on the Schedule of Financial Terms may be amended or waived <br />by an instrument signed by the Controlling Person and consented to by the Borrower. Controlling Person <br />may, at its election, require delivery of a Favorable Opinion of Tax Counsel in connection with any such <br />amendment or waiver. <br />Section 6.2 Amendments to the Borrower Loan Agreement, the Borrower Note or the <br />Mortgage. <br />(a) The Governmental Lender shall not cause or permit to exist any amendment, <br />modification, supplement, waiver or consent with respect to the Borrower Loan Agreement, the Borrower <br />Note or the Mortgage without the prior written consent of the Funding Lender, the Borrower and the <br />Controlling Person. <br />(b) Notwithstanding anything to the contrary contain herein or therein, the Funding <br />Lender, as assignee of the Governmental Lender, and the Borrower may, without the consent of or prior <br />notice to Governmental Lender, enter into or permit any amendment of the Borrower Loan Agreement, the <br />Borrower Note or the Borrower Mortgage acceptable to the Funding Lender and the Borrower provided, <br />however, that any change which, in the reasonable judgment of the Funding Lender, materially modifies <br />the Reserved Rights of the Governmental Lender shall require the written consent of the Governmental <br />Lender. <br />(c) The Funding Lender and the Borrower shall file copies of any such amendments <br />to the Borrower Loan Agreement, the Borrower Note or the Mortgage with the Governmental Lender and <br />the Controlling Person promptly following execution. <br />(d) An amendment or other document described under this Article that materially <br />affects any rights or obligations of the Borrower shall not become effective unless and until the Borrower <br />shall have consented to the execution of such amendment or other document (provided that no such consent <br />shall be required if the Borrower is in default under any Funding Loan Document). <br />ARTICLE VII <br />THE FISCAL AGENT <br />Section 7.1 Appointment of Fiscal Agent. The Fiscal Agent is hereby appointed and does <br />hereby agree to act in such capacity, and to perform the duties of the Fiscal Agent under this Funding Loan <br />Agreement, but only upon and subject to the following express terms and conditions (and no implied <br />covenants or other obligations shall be read into this Funding Loan Agreement against the Fiscal Agent): <br />(a) The Fiscal Agent may execute any of its trusts or powers hereunder and perform <br />any of its duties by or through attorneys, agents, receivers or employees. The Fiscal Agent shall be entitled <br />to advice of Counsel concerning all matters hereunder, and may in all cases pay such reasonable <br />compensation to all such attorneys, agents, receivers and employees. The Fiscal Agent may act upon the <br />opinion or advice of Counsel, accountants, engineers or surveyors selected by it in the exercise of reasonable
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