Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)

Home Browse Search

89 terms and provisions of the Bonds and this Indenture or any Supplemental Indenture, may be modified or altered in any respect with the prior written consent of the Issuer, the Holders of all of the Bonds then outstanding, the Bank, the Confirming Bank, if any, the Borrower and the Trustee. Section 8.09. Consent of Initial BSBY Rate Bond Purchaser.Anything contained herein to the contrary notwithstanding, so long as the Bonds are in the BSBY Rate Mode, a Supplemental Indenture executed and delivered in accordance with this Article VIII shall not become effective unless and until the Initial BSBY Rate Bond Purchaser shall consent in writing to the execution and delivery of that Supplemental Indenture. END OF ARTICLE VIII ARTICLE IX DEFEASANCE Section 9.01. Release of Indenture.If (a) the Issuer shall pay all of the outstanding Bonds, or shall cause them to be paid and discharged, or if there otherwise shall be paid to the Holders of the outstanding Bonds all Bond Service Charges due or to become due thereon, and (b) provision also shall be made for the payment of all other sums payable hereunder and under the Agreement and the Notes, then this Indenture shall cease, determine and become null and void (except for those provisions surviving by reason of Section 9.03 hereof in the event the Bonds are deemed paid and discharged pursuant to Section 9.02 hereof), and the covenants, agreements and obligations of the Issuer hereunder shall be released, discharged and satisfied. Thereupon, and subject to the provisions of Section 9.03 hereof, if applicable, (a) the Trustee shall release this Indenture (except for those provisions surviving by reason of Section 9.03 hereof), and shall execute and deliver to the Issuer any instruments or documents in writing as shall be requisite to evidence that release and discharge or as reasonably may be requested by the Issuer, and (b) the Trustee shall assign and deliver to the Issuer any property subject at the time to the lien of this Indenture which then may be in its possession, except amounts in the Bond Fund required (i) to be paid to the Bank or the Confirming Bank, if any, under Section 5.08 hereof or elsewhere in this Indenture, or (ii) to be held by the Trustee under Section 5.07 hereof or otherwise for the payment of Bond Service Charges. Section 9.02. Payment and Discharge of Bonds.All or any part of the Bonds shall be deemed to have been paid and discharged within the meaning of this Indenture, including without limitation, Section 9.01 hereof, if: (a) the Trustee shall have received, in trust for and irrevocably committed thereto, sufficient moneys which are Eligible Funds or the proceeds of drawings under the Letter of Credit or the Confirming Letter of Credit, if any, used to make such payment, or other moneys if accompanied by an opinion of bankruptcy counsel in a form acceptable to the Trustee and the Rating Service (if any) for the Bonds; or