Common use of Defaults; Events of Default Clause in Contracts

Defaults; Events of Default. If any of the following events occurs with respect to the Bonds, it is hereby defined as and declared to be and to constitute a default or an Event of Default; provided no effect shall be given to payments made under the Bond Insurance Policy: (a) Failure to make payment of any installment of interest upon any Bond after such payment has become due and payable; (b) Failure to make payment of the principal of and premium, if any, on any Bond at the stated maturity thereof or upon the unconditional redemption thereof; (c) A failure to pay an amount due pursuant to Article IV hereof when the same shall have become due and payable with respect to any Bond; (d) The occurrence of an “Event of Default” under the Agreement; (e) Failure on the part of the Issuer to perform or observe any of its covenants, agreements or conditions in this Indenture or in the Bonds and failure to remedy the same after notice thereof pursuant to Section 9.10 hereof; (f) While the Bonds are supported by a Letter of Credit, the Trustee shall have received written notice from the Bank of the occurrence of an Event of Default with respect to the Bonds, as such term is defined under the Reimbursement Agreement, and requesting that the Trustee declare an acceleration of the Bonds pursuant to Section 9.02 hereof; and (g) While the Bonds are supported by a Letter of Credit, the Trustee shall receive written notice from the Bank within ten (10) calendar days after an interest drawing under the Letter of Credit, or as otherwise provided in the Reimbursement Agreement, that the Bank has not reinstated the amount so drawn.

Defaults; Events of Default. If any of the following events occurs with respect occurs, subject to the Bondsprovisions of Section 1109, it is hereby defined as and declared to be and to constitute a default or an "Event of Default; provided no effect shall be given to payments made under the Bond Insurance Policy" hereunder: (a) Failure to make failure in the payment of the principal of or any installment of interest upon or redemption premium on any Bond when and as the same shall have become due, whether at the stated maturity thereof, by acceleration or call for redemption; (b) the occurrence of an Event of Default specified in subsection (a) of Section 6.1 of the Agreement; (c) failure in the performance or observance of any covenant, agreement or condition on the part of the Issuer included in this Indenture, in the Bonds or in the Agreement, other than as set forth in subsection (a) or (b) above, which materially adversely affects the lien of this Indenture on the Revenues, the Bond Fund or the Construction Fund; provided, however, that prior to the Expiration Date of the Letter of Credit such failure shall not constitute an Event of Default; (d) the occurrence of any Event of Default specified in subsections (b), (c), (d) or (e) of Section 6.1 of the Agreement; provided, however, that prior to the Expiration Date of the Letter of Credit such occurrences shall not constitute an Event of Default; (e) failure to pay amounts due to holders of Bonds who have delivered Bonds to the Trustee for purchase for a period of five (5) days after such payment has become due and payable; (b) Failure to make payment of the principal of and premium, if any, on any Bond at the stated maturity thereof or upon the unconditional redemption thereof; (c) A failure to pay an amount due pursuant to Article IV hereof when the same shall have become due and payable with respect to any Bond; (d) The occurrence of an “Event of Default” under the Agreement; (e) Failure on the part of the Issuer to perform or observe any of its covenants, agreements or conditions in this Indenture or in the Bonds and failure to remedy the same after notice thereof pursuant to Section 9.10 hereof;; or (f) While the Bonds are supported receipt by a Letter of Credit, the Trustee shall have received written of notice from the Bank of the occurrence of an "Event of Default with respect to the Bonds, as such term is defined under the Reimbursement Agreement, and requesting that the Trustee declare an acceleration of the Bonds pursuant to Section 9.02 hereof; and (g) While the Bonds are supported by a Letter of Credit, the Trustee shall receive written notice from the Bank within ten (10) calendar days after an interest drawing Default" under the Letter of Credit, or as otherwise provided in the Reimbursement Credit Agreement, that the Bank has not reinstated the amount so drawn.

Defaults; Events of Default. If any of the following events occurs with respect to the a Bond or Bonds, it is hereby defined as and declared to be and to constitute a default or an Event of Default; provided no effect shall be given to payments made under the Bond Insurance Policy: (a) Failure to make payment of any installment of interest upon any Bond after such payment has become due and payable; (b) Failure to make payment of the principal of and premium, if any, on any Bond at the stated maturity thereof or upon the unconditional redemption thereof; (c) A failure to pay an amount due pursuant to Article IV hereof when the same shall have become due and payable with respect to any Bond; (d) The occurrence of an “Event of Default” under the AgreementAgreement affecting any Bonds; (e) Failure on the part of the Issuer to perform or observe any of its covenants, agreements or conditions in this Indenture or in the Bonds and failure to remedy the same after notice thereof pursuant to Section 9.10 hereof; (f) While the Bonds are supported by a Letter of Credit, the Trustee shall have received written notice from the Bank of the occurrence of an Event event of Default with respect to the Bonds, as such term is defined default under the Reimbursement Agreement, and requesting that the Trustee declare an acceleration of the such Bonds pursuant to Section 9.02 hereof; and (g) While the Bonds are supported by a Letter of Credit, the Trustee shall receive written notice from the Bank within ten (10) calendar days after an interest drawing under the Letter of Credit, or as otherwise provided in the Reimbursement Agreement, that the Bank has not reinstated the amount so drawn.

Defaults; Events of Default. If any of the following events occurs with respect to the Bondsa Bond or Bonds of any Series, it is hereby defined as and declared to be and to constitute a default or an Event of Default; provided no effect shall be given Default with respect to payments made under the Bond Insurance Policysuch Series of Bonds: (a) Failure to make payment of any installment of interest upon any Bond of any Series after such payment has become due and payable; (b) Failure to make payment of the principal of and premium, if any, on any Bond of any Series at the stated maturity thereof or upon the unconditional redemption thereof; (c) A failure to pay an amount due pursuant to Article IV hereof when the same shall have become due and payable with respect to any BondBond of any Series; (d) The occurrence of an “Event of Default” under the AgreementAgreement affecting any Series of Bonds; (e) Failure on the part of the Issuer to perform or observe any of its covenants, agreements or conditions in this Indenture or in the Bonds applicable to the Bonds of any Series or to the Bonds generally and failure to remedy the same after notice thereof pursuant to Section 9.10 hereof; (f) While the Bonds of any Series are supported by a Letter of Credit, the Trustee shall have received written notice from the Bank of the occurrence of an Event of Default with respect to the such Series of Bonds, as such term is defined under the Reimbursement Agreement, and requesting that the Trustee declare an acceleration of the such Bonds pursuant to Section 9.02 hereof; and (g) While the Bonds of any Series are supported by a Letter of Credit, the Trustee shall receive written notice from the Bank within ten (10) calendar days after an interest drawing under the Letter of Credit, or as otherwise provided in the Reimbursement Agreement, that the Bank has not reinstated the amount so drawndrawn with respect to such Series of Bonds.

Defaults; Events of Default. If any of the following events occurs with respect to the Bonds, it is hereby defined as and declared to be and to constitute a default or an Event of Default; provided no effect shall be given to payments made under the Bond Insurance Policy: (a) Failure to make payment of any installment of interest upon any Bond after such payment has become due and payable; (b) Failure to make payment of the principal of and premium, if any, on any Bond at the stated maturity thereof or upon the unconditional redemption thereof; (c) A failure to pay an amount due pursuant to Article IV hereof when the same shall have become due and payable with respect to any Bond; (d) The occurrence of an “Event of Default” under the Agreement; (e) Failure on the part of the Issuer to perform or observe any of its covenants, agreements or conditions in this Indenture or in the Bonds and failure to remedy the same after notice thereof pursuant to Section 9.10 hereof; (f) While the Bonds are supported by a Letter of Credit, the Trustee shall have received written notice from the Bank of the occurrence of an Event of Default with respect to the Bonds, as such term is defined under the Reimbursement Agreement, and requesting that the Trustee declare an acceleration of the Bonds pursuant to Section 9.02 hereof; and (g) While the Bonds are supported by a Letter of Credit, the Trustee shall receive written notice from the Bank within ten (10) calendar days after an interest drawing under the Letter of Credit, or as otherwise provided in the Reimbursement Agreement, that the Bank has not reinstated the amount so drawn.

Defaults; Events of Default. If The occurrence of any of the following events occurs with respect to the Bonds, it is hereby defined as and declared to be and to constitute a default or an Event of Default; provided no effect shall be given to payments made under the Bond Insurance PolicyDefault hereunder: (a) Failure to make payment Payment of any installment of interest upon on any Senior Bond after such payment has shall not be made when and as that interest shall become due and payable, and the failure to make such payment is not cured within two (2) Business Days after written notice of such failure is received by the Issuer; (b) Failure to make payment Payment of the principal of and premium, if any, or any premium on any Senior Bond shall not be made when and as that principal or premium shall become due and payable, whether at stated maturity, by redemption (unless the stated maturity thereof or notice of such redemption shall state that such redemption is conditional upon the unconditional redemption thereofdeposit of sufficient funds with the Trustee), by acceleration or otherwise, and the failure to make such payment is not cured within two (2) Business Days after written notice of such failure is received by the Issuer; (c) A Failure by the Issuer to observe or perform any other covenant, agreement or obligation on its part to be observed or performed contained in this Indenture or in the Senior Bonds, which failure to pay an amount due pursuant to Article IV hereof when the same shall have become due continued for a period of 60 days after written notice, by registered or certified mail, to the Issuer specifying the failure and payable with respect to any Bondrequiring that it be remedied, which notice may be given by the Trustee in its discretion and shall be given by the Trustee at the written request of the Holders of not less than a majority in aggregate principal amount of Senior Bonds then outstanding; (d) The occurrence Issuer shall: (i) commence a proceeding under any federal or state insolvency, reorganization or similar law, or have such a proceeding commenced against it and either have an order of an “Event of Default” under insolvency or reorganization entered against it or have the Agreement; proceeding remain undismissed and unstayed for 90 days; or (eii) Failure on have a receiver, conservator, liquidator or trustee appointed for it or for the whole or any substantial part of the Issuer to perform or observe any of its covenants, agreements or conditions in this Indenture or in the Bonds and failure to remedy the same after notice thereof pursuant to Section 9.10 hereof; (f) While the Bonds are supported by a Letter of Credit, the Trustee shall have received written notice from the Bank of the occurrence of an Event of Default with respect to the Bonds, as such term is defined under the Reimbursement Agreement, and requesting that the Trustee declare an acceleration of the Bonds pursuant to Section 9.02 hereof; and (g) While the Bonds are supported by a Letter of Credit, the Trustee shall receive written notice from the Bank within ten (10) calendar days after an interest drawing under the Letter of Credit, or as otherwise provided in the Reimbursement Agreement, that the Bank has not reinstated the amount so drawnproperty.