HomeMy WebLinkAbout0089 notice of such occurrence to the other and to the Company. ~
With respect to any default by the Company of the type described
in Section 7.01 of this Agreement, the Issuer shall have '
the right (but may never be required) any time prior to the
expiration of ten (10) days from the service by the Trustee
of the ten-day notice provided for in Section 7.02 of this
Agreement, and with the Trustee's consent shall have the
riqht at any time thereafter, to advance from any funds legally
available for such purpose the sum required to cure such
default; and the Issuer shall be entitled to receive from
the Company rei.mbursement of such sum upon demand, together
with interest thereon from the date of such advance to the
date of rei.mbursement at the rate of ten per centum (10$)
per annum and expen"ses of collecting the same, including '
reasonable attorneys' fees whether suit be brought or not. ~
Whenever any event of default referred to in Section 7.01 '
hereof shall have happened and be subsisting, and the Trustee
having given written notice to the Company by registered
mail at least ten (10) days prior thereto pursuant to Section
7.02 hereof, the_Issuer shall have the right(but may never
be required) to pay at any time to the Trustee from any funds
legally available for such purpose the principal amount of
all Bonds then outstanding plus accrued interest and interest
to accrue thereon to the next succeeding redemption date
which is more than sixty (60) days from the date of such
payr:?ent and the premium, if any, that may be due on redemption
of the Bonds as provided in Section 11 of the Resolution
and all fees and expenses of the Trustee incurred and to ~
be incurred for its services in the payment of all outstanding ;
Bonds and coupons and in the conclusion of their services °
, under this~Agreement_and as provided in the Resolution, together
with any balance of moneys owed by the Company to the Trustee -
urider the provisions_of-Section 3.03, Section 4.06 or any
other Section of this Agreement, and the Issuer shall thereupon
be entitled to obtain from the Trustee an assigriment of all
of the Trustee's interest in any Mortgage or security agreement
created pursuant hereto, and the Issuer shall have the right
to recover from the Company the sums paid by the Issuer to -
the Trustee under this Section, together with interes-t thereon ~
at the rate of ten per centum (10$) per annum and its collection
expenses including attorneys' fees, by disposition of the
Company's interest in the 24ortgaged Property and the Project,
in the same manner as provided for the disposition of such
property by the Trustee in Section 7.02 of this Agreement.
In the event a deficiency is sti11 due.on the balance of
the purchase price after such disposition, the Issuer may
' collect such amounts, including its cost and counsel fees,
' by appropriate suits at law or in equity.
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i ARTICLE VIII -
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; FINANCING ADDITIONAL FACILITIES;
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'i PARITY ~BLIGATIONS ;
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In the Resolution the Issuer has reserved the right to issue
additional pollution control revenue bonds (hereinafter referred
to as "Additional Parity Bonds") upon request for same by -
the Company, such A~ditional Parity Bonds payable on a parity
, with both the Bonds described in Section 1.O1 hereof and
~ with the Concurrent Parity Bonds for the purpose of providing
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