Common use of Covenant to Enter into Agreement or Contract to Provide Ongoing Disclosure Clause in Contracts

Covenant to Enter into Agreement or Contract to Provide Ongoing Disclosure. The Borrower hereby covenants and agrees that if as a result of the conversion of the interest rate borne by the Bonds from the Weekly Interest Rate to the Fixed Interest Rate or as a result of any amendment to Paragraph (b)(5)(i) of the Securities and Exchange Commission Rule 15c2-12 under the Securities Exchange Act of 1934, as amended (17 CFR Part 240, ss. 240.15c2-12) (the “Rule”) or any amendment or supplement to the Indenture or this Agreement, the Bonds cease to be exempt under the Rule, the Borrower will enter into an agreement or contract, constituting an undertaking, to provide ongoing disclosure as may be necessary to comply with the Rule as then in effect. The covenant and agreement contained in this Section is for the benefit of the Registered Owners, any Participating Underwriter and the Beneficial Owners (as defined in the Indenture) as required by the Rule. It is the Borrower’s express intention that this Section be assigned pursuant to and in accordance with Section 6.09 of the Indenture to the Trustee for the benefit of the Registered Owners, any Participating Underwriter and the Beneficial Owners and that each Registered Owner, Participating Underwriter and Beneficial Owner be a beneficiary of this Section with the right to enforce this Section against the Borrower. Notwithstanding any other provision of this Agreement, failure of the Borrower to comply with the provisions of this Section shall not be considered a Loan Default Event; provided, however, the Trustee may (and, at the request of any Participating Underwriter or the Registered Owners of at least 25% aggregate principal amount in Outstanding Bonds, shall) or any Beneficial Owner may take such actions as may be necessary and appropriate, including seeking specific performance by court order, to cause the Borrower to comply with its obligations under this Section.

Covenant to Enter into Agreement or Contract to Provide Ongoing Disclosure. The Borrower and the Authority hereby agree that the initial offering and sale of the Bonds is exempt from the requirements of Paragraph (b)(5)(i) of the Securities and Exchange Commission Rule 15c2-12 under the Securities Exchange Act of 1934, as amended (17 CFR Part 240, (S) 240.15c2-12) (the "Rule"). The Borrower hereby covenants and agrees that if as a result of the conversion of the interest rate borne by the Bonds from the Weekly Interest Rate to the Fixed Interest Rate or as a result of any amendment to Paragraph (b)(5)(i) of the Securities and Exchange Commission Rule 15c2-12 under the Securities Exchange Act of 1934, as amended (17 CFR Part 240, ss. 240.15c2-12) (the “Rule”) or any amendment or supplement to the Indenture or this Agreement, the Bonds cease to be exempt under the Rule, the Borrower will enter into an agreement or contract, constituting an undertaking, to provide ongoing disclosure as may be necessary to comply with the Rule as then in effect. The covenant and agreement contained in this Section is for the benefit of the Registered Owners, any Participating Underwriter and the Beneficial Owners (as defined in the Indenture) as required by the Rule. It is the Borrower’s 's express intention that this Section be assigned pursuant to and in accordance with Section 6.09 of the Indenture to the Trustee for the benefit of the Registered Owners, any Participating Underwriter and the Beneficial Owners and that each Registered Owner, Participating Underwriter and Beneficial Owner be a beneficiary of this Section with the right to enforce this Section against the Borrower. Notwithstanding any other provision of this Agreement, failure of the Borrower to comply with the provisions of this Section shall not be considered a Loan Default Event; provided, however, the Trustee may (and, at the request of any Participating Underwriter or the Registered Owners of at least 25% aggregate principal amount in Outstanding Bonds, shall) or any Beneficial Owner may take such actions as may be necessary and appropriate, including seeking specific performance by court order, to cause the Borrower to comply with its obligations under this Section.

Covenant to Enter into Agreement or Contract to Provide Ongoing Disclosure. The Borrower and the Authority hereby covenants agree that the initial offering and agrees that if as a result sale of the conversion of the interest rate borne by the Bonds is exempt from the Weekly Interest Rate to the Fixed Interest Rate or as a result requirements of any amendment to Paragraph (b)(5)(i) of the Securities and Exchange Commission Rule 15c2-12 under the Securities Exchange Act of 1934, as amended (17 CFR Part 240, ss. 240.15c2-12) (the “"Rule”) "). The Borrower hereby covenants and agrees that if as a result of the conversion of the interest rate borne by the Bonds from the Weekly Interest Rate to the Fixed Interest Rate or as a result of any amendment or supplement to the Indenture or this Agreement, the Bonds cease to be exempt under the Rule, the Borrower will enter into an agreement or contract, constituting an undertaking, to provide ongoing disclosure as may be necessary to comply with the Rule as then in effect. The covenant and agreement contained in this Section 5.12 is for the benefit of the Registered OwnersBondholders, any Participating Underwriter and the Beneficial Owners (as defined in the Indenture) as required by the Rule. It is the Borrower’s 's express intention that this Section 5.12 be assigned pursuant to and in accordance with Section 6.09 of the Indenture to the Trustee for the benefit of the Registered OwnersBondholders, any Participating Underwriter and the Beneficial Owners and that each Registered OwnerBondholder, Participating Underwriter and Beneficial Owner be a beneficiary of this Section 5.12 with the right to enforce this Section 5.12 against the Borrower. Notwithstanding any other provision of this Agreement, failure of the Borrower to comply with the provisions of this Section 5.12 shall not be considered a Loan Default Event; provided, however, the Trustee may (and, at the request of any Participating Underwriter or the Registered Owners Holders of at least 25% aggregate principal amount in Outstanding Bonds, shall) or any Beneficial Owner may take such actions as may be necessary and appropriate, including seeking specific performance by court order, to cause the Borrower to comply with its obligations under this SectionSection 5.12.

Covenant to Enter into Agreement or Contract to Provide Ongoing Disclosure. The Borrower hereby covenants and agrees that if as a result of the conversion of the interest rate borne by the Bonds from the Weekly Interest Rate to the Fixed Interest Rate or as a result of any amendment to Paragraph (b)(5)(i) of the Securities and Exchange Commission Rule 15c2-12 under the Securities Exchange Act of 1934, as amended (17 CFR Part 240, ss. 240.15c2-12) (the “"Rule”") or any amendment or supplement to the Indenture or this Agreement, the Bonds cease to be exempt under the Rule, the Borrower will enter into an agreement or contract, constituting an undertaking, to provide ongoing disclosure as may be necessary to comply with the Rule as then in effect. The covenant and agreement contained in this Section is for the benefit of the Registered Owners, any Participating Underwriter and the Beneficial Owners (as defined in the Indenture) as required by the Rule. It is the Borrower’s 's express intention that this Section be assigned pursuant to and in accordance with Section 6.09 of the Indenture to the Trustee for the benefit of the Registered Owners, any Participating Underwriter and the Beneficial Owners and that each Registered Owner, Participating Underwriter and Beneficial Owner be a beneficiary of this Section with the right to enforce this Section against the Borrower. Notwithstanding any other provision of this Agreement, failure of the Borrower to comply with the provisions of this Section shall not be considered a Loan Default Event; provided, however, the Trustee may (and, at the request of any Participating Underwriter or the Registered Owners of at least 25% aggregate principal amount in Outstanding Bonds, shall) or any Beneficial Owner may take such actions as may be necessary and appropriate, including seeking specific performance by court order, to cause the Borrower to comply with its obligations under this Section.