HomeMy WebLinkAbout0083 the principal amount of all Sonds then outstanding plus accrued
interest and all fees and expenses of the Trustee incurred
and to be incurred for their services in the redemption of
all outstanding Bonds and in the conclusion of their services
under this Agreement and as provided in the Resolution, together
with any balance of moneys owed by the Company to the Trustee
and the Authority, or either of them under the provisions ~
of Section 3.03, Section 4.06 or any other section of this ~
Agreement, plus the sum of $100 and an additional amount ~
to be calculated by multiplying one year's interest on the
principal amount of Sonds outstanding on the date of the ;
violation by the number of years (counting as an entire year
any uncompleted fraction thereof) which shall have elapsed
between the date of the violation and the date of such payment
of the balance of the purchase price and all other sums due
under this Agreement, which additional amount may not be
less than one year's interest on the Bonds outstanding on
the date of the violation.
Section 6.05. ASSIGNMENT OF AGREEMENT; LEASE OF MORTGAGED
PROPERTY AND PROJECT. As Iong as there is no default existing
hereunder, this Agreement may be assigned, 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 r~main primarily liable
for payment of the installments of the purchase price specified .
in Section 3.03 hereof 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 de~ivered to the Trustee.
The interest of any lessee shall be subordinate to this Agreement.
(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 direction at any time 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, forthv~ith 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 vf 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
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