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(J) Release, substitution, or sale of property securing repayment of the securities, if <br />material; <br />(K) Rating changes; <br />(L) Bankruptcy, insolvency, receivership or a similar event with respect to the City; <br />(M) The consummation of a merger, consolidation, or acquisition involving an <br />obligated person or the sale of all or substantially all of the assets of the <br />obligated person, other than in the ordinary course of business, the entry into a <br />definitive agreement to undertake such an action or the termination of a <br />definitive agreement relating to any such actions, other than pursuant to its <br />terms, if material; and <br />(N) Appointment of a successor or additional trustee or the change of name of a <br />trustee, if material. <br />As used herein, a material fact is a fact as to which a substantial likelihood exists that a <br />reasonably prudent investor would attach importance thereto in deciding to buy, hold or sell a <br />Bond or, if not disclosed, would significantly alter the total information otherwise available to an <br />investor from the Official Statement, information disclosed hereunder or information generally <br />available to the public. Notwithstanding the foregoing sentence, a material fact is also an event <br />that would be deemed material for purposes of the purchase, holding or sale of a Bond within the <br />meaning of applicable federal securities laws, as interpreted at the time of discovery of the <br />occurrence of the event. <br />For the purposes of the event identified in (L) hereinabove, the event is considered to occur when <br />any of the following occur: the appointment of a receiver, fiscal agent or similar officer for an <br />obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding <br />under state or federal law in which a court or governmental authority has assumed jurisdiction <br />over substantially all of the assets or business of the obligated person, or if such jurisdiction has <br />been assumed by leaving the existing governing body and officials or officers in possession but <br />subject to the supervision and orders of a court or governmental authority, or the entry of an <br />order confirming a plan of reorganization, arrangement or liquidation by a court or governmental <br />authority having supervision or jurisdiction over substantially all of the assets or business of the <br />obligated person. <br />(3) In a timely manner, notice of the occurrence of any of the following events or <br />conditions: <br />(A) the failure of the City to provide the Disclosure Information required under <br />paragraph (b)(1) at the time specified thereunder; <br />(B) the amendment or supplementing of this section pursuant to subsection (d), <br />together with a copy of such amendment or supplement and any explanation <br />provided. by the City under subsection (d)(2); <br />(C) the tennination of the obligations of the City under this section pursuant to <br />subsection (d); <br />(D) any change in the accounting principles pursuant to which the financial <br />statements constituting a portion of the Disclosure Information are prepared; <br />and <br />is <br />