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<br />(F) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed <br />or final determinations of taxability, Notices of Proposed Issue (IRS Form <br />5701-TEB) or other material notices or determinations with respect to the tax <br />status of the security, or other material events affecting the tax status of the <br />security; <br />(G) Modifications to rights of security holders, if material; <br />(H) Bond calls, if material, and tender offers; <br />(I) Defeasances; <br />(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 similar event of the obligated person; <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 /> <br />As used herein, for those events that must be reported if material, an event is “material” if it is an <br />event as to which a substantial likelihood exists that a reasonably prudent investor would attach <br />importance thereto in deciding to buy, hold or sell a Bond or, if not disclosed, would <br />significantly alter the total information otherwise available to an investor from the Official <br />Statement, information disclosed hereunder or information generally available to the public. <br />Notwithstanding the foregoing sentence, an event is also “material” if it is an event that would be <br />deemed material for purposes of the purchase, holding or sale of a Bond within the meaning of <br />applicable federal securities laws, as interpreted at the time of discovery of the occurrence of the <br />event. <br /> <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 /> <br />(3) In a timely manner, notice of the occurrence of any of the following events or <br />conditions: <br /> <br />(A) the failure of the City to provide the Disclosure Information required under <br />paragraph (b)(1) at the time specified thereunder;