HomeMy WebLinkAbout0026 1:9
or the Mortgaged Property and the Project may be leased
as a whole or in part, by the Company without the necessity
of obtaining the consent of the Issuer or the Trustee, subject,
however, to each of the following conditions:
(A) No assignment or lease shall relieve the Company
from primary liability for any of its obligations hereunder,
nor shall it relieve the Guarantor of its obligations under
the Guaranty, and in the event of any such assignment or lease
the Company shall continue to remain primarily liable for
payment of the installments of the purchase price specified
in Section 3:03 herebf and for performance and observance
of the other agreements on its part herein provided to be
performed and observed by it.
(B) An assignee shall expressly assume the obligations
of the Company hereunder by instrument delivered to the Trustee.
The interest of any lessee sha~l be subordinate to this Agreement. ;
i
(C) The Company shall, within thirty (30) days after ~
such delivery thereof, furnish or cause to be furnished to
the Trustee and to the Issuer a true and complete copy of each
such assignment or lease as the case may be.
Section 6.06. REQUEST FOR REDEMPTION. The Issuer shall
at the request and directian at any ti.me of the Company or
as required hereunder, and if the Bonds are then redeemable,
. upon the Issuer or the Trustee being furnished the requisite
funds, forthwith take all steps that may be necessary under the
-applicable redemption provisions of the Resolution to effect
redemption of all or part of the then outstanding Bonds on ;
the earliest redemption date on which such redemption may
be made under such applicable provisions. Bonds so redeemed
shall be credited against the balance due upon the purchase
price and in the order of the installments due thereon pursuant
to Section 3.03 of this Agreement.
If at any time the aggregate moneys held on deposit
in the Bond Fund by the Trustee pursuant to this Agreement
shall be sufficient to pay the principal of all of the Bonds
at the time outstanding, and the interest on the Bonds to
maturity or to the first date on which such Bonds may be
redeemed prior to maturity as authorized by Section 11 of
the Resolution, including the applicable redemption premium,
if any, and to pay all fees and charges of the Trustee due
and to become due through the date on which the last of the
Bonds is retired, and provided there are no outstanding Concurrent
Parity Bonds, the Company shall be entitled to obtain a satisfaction
and release of the I+iortgage and a satisfaction and release
of any seCurity interest as provided in Section 3.01 hereof,
and neither the Issuer, the Trustee nor the holders of any
k of the Bonds shall thereafter have any rights hereunder, saving
and excepting those that shall have theretofore vested.
Secti.on 6.07. COMPANY TO FUR.'~TISH CERTAIN FINANCIAL DOCUMENTS. :
The Company covenants and agrees that, unless all of the Bonds
have been retired, or are.callable prior to maturity and have
been duly called for redemption and payment of principal,
interest and applicable premium duly made or provided for, it
will furnish to the Trustee the following Di Giorgio documents:
(A) within ninety (90) days after the end of each fiscal year
an income statement, a surplus statement and a balance shee~t
~
~
t
i
I
~
~ 24 ~ 0 R ~
; a~zi~ ~ ~
a~3 • ac
- - -