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11-13-2024 Council Packet
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11-13-2024 Council Packet
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135242345v3 <br /> <br /> <br />57 <br />(ii) An opinion of counsel acceptable to Funding Lender Representative <br />to the effect that any such proposed such amendment, change or modification is <br />authorized and complies with the provisions of this Funding Loan Agreement and <br />is a legal, valid and binding obligation of the parties thereto, subject to normal <br />exceptions relating to bankruptcy, insolvency and equitable principles limitations. <br />ARTICLE IX <br />SATISFACTION AND DISCHARGE OF FUNDING LOAN AGREEMENT <br />Section 9.01 Discharge of Lien. <br />(a) These presents and the estates and rights hereby granted shall cease, <br />determine and be void if Governmental Lender shall: <br />(i) Pay or cause to be paid to Funding Lender the principal, interest and <br />Prepayment Premium, if any, to become due with respect to the Funding Loan at <br />the times and in the manner stipulated herein and in the Governmental Note, in any <br />one or more of the following ways: <br />(A) By the payment of all unpaid principal of (including <br />Prepayment Premium, if any) and interest on the Funding Loan, <br />(B) After the Conversion Date and prior to the Window Period <br />(or, if the Conversion Date does not occur, after the latest date on which <br />Conversion was permitted to occur under the Construction Phase Financing <br />Agreement), by the deposit to the account of Fiscal Agent, in trust, of money <br />or securities in the necessary amount to pay the principal, Prepayment <br />Premium and interest to the Maturity Date, or <br />(C) By the delivery of the Governmental Note by Funding <br />Lender to Fiscal Agent for cancellation; and <br />(ii) Have paid all amounts due and owing under the other Financing <br />Documents; <br />(iii) Have paid all fees and expenses of and any other amounts due to <br />Fiscal Agent, Loan Servicer and Rebate Analyst; and <br />(iv) Keep, perform and observe all and singular the covenants and <br />promises in the Governmental Note and in this Funding Loan Agreement expressed <br />as to be kept, performed and observed by it or on its part. <br />(b) Upon satisfaction of each of the requirements of Section 9.01(a), Fiscal <br />Agent shall cancel and discharge the lien of this Funding Loan Agreement and execute and <br />deliver to Governmental Lender such instruments in writing as shall be requisite to satisfy <br />the lien hereof, and reconvey to Governmental Lender the estate hereby conveyed, and <br />assign and deliver to Governmental Lender any interest in property at the time subject to <br />the lien of this Funding Loan Agreement which may then be in its possession, except
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