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1994-06-21 Minutes
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1994-06-21 Minutes
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(i) if any judgment shall be recovered against the <br />• Authority or any attachment or other court process issues that <br />shall become or create a lien upon the Lease or the pledged funds, <br />and such judgment, attachment, or court process shall not be <br />discharged or effectually secured within sixty (60) days; or <br />(j) if the Authority shall file a petition under the <br />provisions of the U.S. Bankruptcy Code, as amended ("Bankruptcy <br />Code"), or files an answer seeking the relief provided in said <br />Bankruptcy Code; or <br />(k) if a court of competent jurisdiction shall enter an <br />order, judgment or decree approving a petition filed against the <br />Authority under the provisions of said Bankruptcy Code, and such <br />judgment, order or decree shall not be vacated or set aside or <br />stayed within one hundred twenty (120) days from the date of the <br />entry thereof; or <br />(1) if, under the provisions of any other law now or <br />hereafter existing for the relief or aid of debtors, any court of <br />competent jurisdiction shall assume custody or control of the <br />Authority or of the whole or any substantial part of the Project <br />or the income therefrom, and such custody or control shall not be <br />terminated within one hundred twenty (120) days from the date of <br />assumption of such custody or control; or <br />• (m) failure of the Authority to bring suit to mandate <br />.the governing board or officials of the Lessee to levy a tax to pay <br />the rental provided in the Lease referred to in Article V, or take <br />such other action to enforce the Lease as is reasonably requested <br />by the Trustee, if such rental is more than thirty (30) days in <br />default; or <br />(n) if the lease rental provided for in said Lease is <br />not paid when due; or <br />(o) any event of default as defined in Section 15 of the <br />Lease shall occur and be continuing. <br />If on the date payment of principal of or interest on the <br />Bonds is due, or if on the date on which payment of the purchase <br />price of Bonds is to be made, sufficient moneys are not available <br />to make such payment, the Trustee shall give telephonic notice of <br />such insufficiency to the Authority., - <br />Nothing contained in this Indenture shall obligate the <br />Credit Facility Issuer to give notice to the Trustee of an Event <br />of Default under the Credit Facility Indenture unless the Credit <br />Facility Issuer intends to terminate the Credit Facility or direct <br />the Trustee with respect to remedies under the circumstances <br />permitted hereunder. <br />77 <br />
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