12-13-2021 FINAL Packet - Laserfiche WebLink

Home Browse Search

27 (8) The obligation of the Issuer to pay all amounts due to Series 2022 Credit Provider from Lease Rental Payments shall be an absolute and unconditional obligation of the Issuer and will be paid or performed strictly in accordance with the provisions of this Trust Indenture, irrespective of (i) any lack of validity or enforceability of or any amendment or other modifications of, or waiver with respect to the Bonds, the Trust Indenture, the Bond Ordinance, or any other Related Document, or (ii) any amendment or other modification of, or waiver with respect to the Reserve Policy; (iii) any exchange, release or non- perfection of any security interest in property securing the Bonds, the Trust Indenture, the Bond Ordinance, or any other Related Documents; (iv) whether or not such Bonds are contingent or matured, disputed or undisputed, liquidated or unliquidated; (v) any amendment, modification or waiver of or any consent to departure from the Series 2022 Debt Service Reserve Fund Credit Facility, the Trust Indenture, the Bond Ordinance, or all or any of the other Related Documents; (vi) the existence of any claim, setoff, defense (other than the defense of payment in full), reduction abatement or other right which the Issuer may have at any time against the Trustee or any other person or entity other than the Insurer, whether in connection with the transactions contemplated herein or in any other Related Documents or any unrelated transactions; (vii) any statement or any other document presented under or in connection with the Series 2022 Debt Service Reserve Fund Credit Facility proving in any and all respects invalid, inaccurate, insufficient, fraudulent or forged or any statement therein being untrue or inaccurate in any respect; or (viii) any payment by the Insurer under the Series 2022 Debt Service Reserve Fund Credit Facility against presentation of a certificate or other document which does not strictly comply with the terms of the Series 2022 Debt Service Reserve Fund Credit Facility. (9) The Issuer shall fully observe, perform, and fulfill each of the provisions (as each of those provisions may be amended, supplemented, modified or waived with the prior written consent of the Series 2022 Credit Provider of the Indenture applicable to it, each of the provisions thereof being expressly incorporated into this Trust Indenture by reference solely for the benefit of the Series 2022 Credit Provider as if set forth directly herein. No provision of the Indenture, the Bond Ordinance, or any other Related Document shall be amended, supplemented, modified or waived, without the prior written consent of the Series 2022 Credit Provider in any material respect or otherwise in a manner that could adversely affect the payment obligations of the Issuer hereunder or the priority accorded to the reimbursement of Policy Costs under the Indenture. The Series 2022 Credit Provider is hereby expressly made a third party beneficiary of the Indenture, the Bond Ordinance, and each other Related Document. (10) The Issuer covenants to provide to Series 2022 Credit Provider promptly upon request, any information regarding the Bonds or the financial condition and operations of the Issuer as reasonably requested by Series 2022 Credit Provider. The Issuer will permit Series 2022 Credit Provider to discuss the affairs, finances and accounts of the Issuer or any information Series 2022