05-09-2022 FINAL Notice and Agenda Packet

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77 (c) Failure to pay on a Bond Purchase Date or Mandatory Bond Purchase Date amounts due to the Holder of any Project Bonds or the Beneficial Owner of any Beneficial Ownership Interests tendered or deemed tendered to the Trustee pursuant to Section 2.04, 2.05, 2.06, or 2.07 hereof; (d) Failure by the Issuer to observe or perform any other covenant, agreement or obligation on its part to be observed or performed contained in this Indenture or in the Bonds, which failure shall have continued for a period of 30 days after written notice, either by registered or certified mail, to the Issuer, the Bank, the Confirming Bank, if any, and the Borrower specifying the failure and requiring that it be remedied, which notice may be given by the Trustee in its discretion and shall be given by the Trustee at the written request of the Bank, the Confirming Bank, if any, or the Holders of not less than 25 percent in aggregate principal amount of Bonds then outstanding; provided, that if the failure is other than the payment of money and is of such nature that it can be corrected, but not within the applicable period, that failure shall not constitute an Event of Default so long as the Issuer or the Borrower institutes curative action within the applicable period and diligently pursues that action to completion; (e) The occurrence and continuation of an Event of Default as defined in Section 7.1 of the Agreement; (f) Receipt by the Trustee of a written notice from the Bank that an Event of Default has occurred and has not been cured within any applicable notice and cure period under the Reimbursement Agreement and directing the Trustee to accelerate the maturity of the Project Bonds; (g) Failure of the Bank, to honor any drawing properly made in accordance with the terms of the Letter of Credit; (h) The Bank shall: (i) commence a proceeding under any federal or state insolvency, reorganization or similar law, or have such a proceeding commenced against it and either have an order of insolvency or reorganization entered against it or have the proceeding remain undismissed and unstayed for 90 days; or (ii) have a receiver, conservator, liquidator or trustee appointed for it or for the whole or any substantial part of its property; (i) Receipt by the Trustee of written notice from the Bank by the fifth day following the honoring of an interest drawing on the Letter of Credit that the amount available to be drawn by the Trustee under the Letter of Credit has not been reinstated to an amount not less than 100% of the outstanding principal of, plus 105 days’ interest on the Project Bonds (or 200 days’ interest on the Project Bonds if the Interest Rate Mode on the Project Bonds is the Fixed Interest Rate) computed at the Maximum Rate unless the Bank directs the Trustee to effect a mandatory tender of the Bonds in accordance with Section 2.08 hereof; or