Common use of Events of Default and Acceleration of Maturities Clause in Contracts

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events of default”) shall happen, that is to say: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants required herein to be performed by the Authority, and such default shall have continued for a period of sixty (60) days or (or if the Authority notifies the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time); (d) if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; then and in each and every such case during the continuance of such event of default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shall, by notice in writing to the Authority, declare the principal of all Bonds then Outstanding and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provision, however, is subject to the condition that if at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the money due shall have been obtained or entered the Authority shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, if any, with interest at the rate borne by such Bonds on such overdue interest and principal and premium, if any, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstanding, by written notice to the Authority and to the Trustee, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events (herein called “events shall constitute Events of default”) shall happen, that is to sayDefault hereunder: (a) if default shall be made Failure by the Authority in Agency to pay the due and punctual payment principal of or interest or prepayment premium (if any) on the interest on Loan or any Bond Parity Debt when and as the same shall become due and payable;. (b) if default shall be made Failure by the Authority in the due Agency to observe and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of perform any of the other covenants, agreements or covenants required herein conditions on its part contained in this Loan Agreement, other than as referred to be performed by in the Authoritypreceding clause (a), and such default shall have continued for a period of sixty thirty (6030) days or (or after written notice, specifying such failure and requesting that it be remedied, has been given to the Agency by the Trustee; provided, however, that if in the Authority notifies the Trustee that in its reasonable opinion of the Agency the failure stated in the such notice can be corrected, but not within such 60 thirty (30) day period, the such failure will shall not constitute an event Event of default Default if corrective action is instituted by the Authority commences to cure the failure Agency within such 60 thirty (30) day period and thereafter is diligently and in good faith cures pursued until such failure in a reasonable period of time);is corrected. (dc) if The filing by the Authority shall file Agency of a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any other applicable law of the United States of America, or if a court of competent jurisdiction shall approve a petition, filed with or without the consent of the Agency, seeking reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinif, or if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the Authority Agency or of the whole or any substantial part of its property; or. (ed) if [DEFAULT UNDER PARITY DEBT?] If an Event of Default has occurred under Section 6.01 of and is continuing, the Facilities Lease; then and in each and every such case during the continuance of such event of default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shall, by notice in writing to the Authority, Trustee may (a) declare the principal of the Loan, together with accrued interest on all Bonds then Outstanding and the interest accrued thereon unpaid installments thereof, to be due and payable immediately, and upon any such declaration the same shall will become immediately due and payable, anything contained herein or in the Bonds this Loan Agreement to the contrary notwithstanding, and (b) subject to receipt of satisfactory indemnity, exercise any other remedies available to the Trustee in law or equity arising hereunder. The Immediately upon becoming aware of the occurrence of an Event of Default under this Loan Agreement, the Trustee shall give notice of such Event of Default to the Agency by telephone, telecopier or other telecommunication device, promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written noticeconfirmed in writing. This provision, however, is subject to the condition that if if, at any time after the principal of the Bonds then Outstanding shall have Loan has been so declared due and payable payable, and before any judgment or decree for the payment of the money moneys due shall have has been obtained or entered entered, the Authority shall Agency will deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all installments of principal of the Bonds Loan matured prior to such declaration and premium, if anyall accrued interest thereon, with interest at the rate borne by such Bonds on such overdue interest and installments of principal and premium, if anyinterest at the net effective rate then borne by the Outstanding Bonds, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of principal of and interest on and principal of the Bonds Loan due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then then, and in every such case case, the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstandingmay, by written notice to the Authority and to the TrusteeAgency, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any the right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events (herein called “events shall constitute Events of default”) shall happen, that is to sayDefault hereunder: (a) if default shall be made Failure by the Authority in Agency to pay the due and punctual payment principal of or interest or prepayment premium (if any) on the interest on Loan or any Bond Parity Debt when and as the same shall become due and payable;. (b) if default shall be made Failure by the Authority in the due Agency to observe and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of perform any of the other covenants, agreements or covenants required herein conditions on its part contained in this Loan Agreement or in any Parity Debt Instrument, other than as referred to be performed by in the Authoritypreceding clause (a), and such default shall have continued for a period of sixty (60) days or (or after written notice specifying such failure and requesting that it be remedied has been given to the Agency by the Trustee; provided, however, that if in the Authority notifies the Trustee that in its reasonable opinion of the Agency the failure stated in the such notice can be corrected, but not within such 60 sixty (60) day period, the such failure will shall not constitute an event Event of default Default if corrective action is instituted by the Authority commences to cure the failure Agency within such 60 sixty (60) day period and thereafter is diligently and in good faith cures pursued until such failure in a reasonable period of time);is corrected. (dc) if The filing by the Authority shall file Agency of a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any other applicable law of the United States of America, or if a court of competent jurisdiction shall approve a petition, filed with or without the consent of the Agency, seeking reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinif, or if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the Authority Agency or of the whole or any substantial part of its property; or (e) if . If an Event of Default has occurred under Section 6.01 of and is continuing, the Facilities Lease; then Trustee may, and in each and every such case during the continuance of such event of default the Trustee, upon at the written request direction of the Bondholders of not less than a majority in aggregate principal amount of the Outstanding Bonds then Outstanding the Trustee shall, by notice in writing to the Authority, , (a) declare the principal of the Loan, together with the accrued interest on all Bonds then Outstanding and the interest accrued thereon unpaid installments thereof, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds this Loan Agreement to the contrary notwithstanding, and (b) to the extent indemnified to its satisfaction exercise any other remedies available to the Trustee in law or at equity. The Immediately upon becoming aware of the occurrence of an Event of Default, the Trustee shall give notice of such Event of Default to the Agency by telephone, telecopier or other telecommunication device, promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written noticeconfirmed in writing. This provision, however, is subject to the condition that if if, at any time after the principal of the Bonds then Outstanding Loan shall have been so declared due and payable payable, and before any judgment or decree for the payment of the money moneys due shall have been obtained or entered entered, the Authority Agency shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all installments of principal of the Bonds Loan matured prior to such declaration and premium, if anyall accrued interest thereon, with interest at the rate borne by such Bonds on such overdue interest and installments of principal and premium, if anyinterest at the net effective rate then borne by the Outstanding Bonds, and the reasonable fees and expenses of the TrusteeTrustee (including but not limited to attorneys fees), and any and all other defaults known to the Trustee (other than in the payment of principal of and interest on and principal of the Bonds Loan due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then then, and in every such case case, the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstandingmay, by written notice to the Authority and to the TrusteeAgency, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events of default”) shall happen, that is to say: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants required herein to be performed by the Authority, and such default shall have continued for a period of sixty (60) days or (or if the Authority notifies the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time); (d) if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; then and in each and every such case during the continuance of such event of default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shall, by notice in writing to the Authority, declare the principal of all Bonds then Outstanding and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provision, however, is subject to the condition that if at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the money due shall have been obtained or entered the Authority shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, if any, with interest at the rate borne by such Bonds on such overdue interest and principal and premium, if any, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstanding, by written notice to the Authority and to the Trustee, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events (herein called “events shall constitute Events of default”) shall happen, that is to sayDefault hereunder: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority Successor Agency in the due and punctual payment of the principal of or premium, if any, of interest on any Bond when and as the same shall become due and payable, whether at maturity as therein expressed expressed, by declaration or by proceedings for mandatory redemptionotherwise; (cb) if default shall be made by the Authority Successor Agency in the performance observance of any of the other covenants, agreements or covenants required herein to be performed by conditions on its part in this Indenture or in the AuthorityBonds or any Parity Debt Instrument contained, other than a default described in the preceding clause (a), and such default shall have continued for a period of sixty thirty (6030) days or (or if following receipt by the Authority notifies Successor Agency of written notice from the Trustee or any Owner of the occurrence of such default, provided that if in its the reasonable opinion of the Successor Agency the failure stated in the notice can be corrected, but not within such 60 30 day period, the such failure will not constitute an event of default if corrective action is instituted by the Authority commences to cure the failure Successor Agency within such 60 30 day period and the Successor Agency thereafter diligently and in good faith cures such failure in a reasonable period of time); (c) If a default is made under the Senior Obligation Indenture; or (d) if If the Authority shall file Successor Agency files a petition seeking reorganization or answer arrangement under the federal bankruptcy laws or any other applicable law of the United States of America, or if a court of competent jurisdiction will approve a petition seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America America, or, if under the provisions of any other law for the relief or aid of debtors, any state therein, or if a court of competent jurisdiction shall will approve a petition filed with or without the consent of the Authority petition, seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or or, if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall will assume custody or control of the Authority Successor Agency or of the whole or any substantial part of its property; or (e) if . If an Event of Default has occurred under this Section 6.01 and is continuing, the Trustee may, or, if requested in writing by the Owners of the Facilities Lease; then and in each and every such case during the continuance of such event of default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding the Trustee shall, by notice in writing to the Authority, (a) declare the principal of all Bonds then Outstanding and the Bonds, together with the accrued interest accrued thereon thereon, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein in this Indenture or in the Bonds to the contrary notwithstanding, and (b) the Trustee shall, subject to the provisions of Section 8.06, exercise any other remedies available to the Trustee and the Bond Owners in law or at equity. The Immediately upon receiving notice or actual knowledge of the occurrence of an Event of Default, the Trustee shall give notice of such Event of Default to the Successor Agency by telephone promptly notify all Bondholders confirmed in writing. Such notice shall also state whether the principal of the Bonds shall have been declared to be or have immediately become due and payable. With respect to any Event of Default described in clauses (a) or (c) above the Trustee shall, and with respect to any Event of Default described in clause (b) above the Trustee in its sole discretion may, also give such notice to the Owners by first class mail of mail, which shall include the statement that interest on the Bonds shall cease to accrue from and after the date, if any, on which the Trustee shall have declared the Bonds to become due and payable pursuant to the preceding paragraph (but only to the extent that principal and any accrued, but unpaid, interest on the Bonds is actually paid on such event of default which is continuing of which a Responsible Officer has actual knowledge or written noticedate). This provision, however, is subject to the condition that if if, at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable payable, and before any judgment or decree for the payment of the money moneys due shall have been obtained or entered entered, the Authority Successor Agency shall deposit with the Trustee a sum sufficient to pay all matured interest principal on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, all matured installments of interest (if any) upon all the Bonds, with interest at the rate borne by such Bonds on such overdue interest and installments of principal and premium, if anyinterest (to the extent permitted by law), and the reasonable fees and expenses of the Trustee, (including the allocated costs and disbursements of its in-house counsel to the extent such services are not redundant with those provided by outside counsel) and any and all other defaults known to the Trustee (other than in the payment of principal of and interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then then, and in every such case case, the Trustee or shall promptly give written notice of the Bondholders foregoing to the Owners of not less than all Bonds then Outstanding, and the Owners of at least a majority in aggregate principal amount of the Bonds then Outstanding, by written notice to the Authority Successor Agency and to the Trustee, may may, on behalf of the Bondholders Owners of all of the Bonds then Outstanding Bonds, rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events of default”) shall happen, that is to say: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal or premium, including, without limitation, any Breakage Fee, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants required herein to be performed by the Authority, and such default shall have continued for a period of sixty (60) days or (or if the Authority notifies the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time); (d) if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; or Agreement; (f) if an Event of Default has occurred under the Continuing Covenant then and in each and every such case during the continuance of such event of default the Trustee may, with the consent of the Purchaser, or, at the direction of the Purchaser, institute legal proceedings pursuant to Section 7.03 hereof. In addition, in the event of a default described in Section 7.01(a) or (b) hereof, the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding Purchaser shall, by notice in writing to the Authority, declare the principal of all Bonds then Outstanding and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provision, however, is subject to the condition that if at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the money due shall have been obtained or entered the Authority shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, if any, with interest at the rate borne by such Bonds on such overdue interest and principal and premium, if any, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then OutstandingPurchaser, by written notice to the Authority and to the Trustee, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon. Notwithstanding anything to the contrary herein, under no circumstances may the Authority or the Trustee accelerate the payment of Base Rental under the Facilities Lease.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events Events of default”) Default shall happen, that is to say: (a) if default Default shall be made by the Authority in the due and punctual payment by the District of the interest on any Bond Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, when and as the same shall become due and payable; (b) if default Default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority District in the performance of any of the other agreements or covenants contained herein required herein to be performed by the Authorityit, and such default shall have continued for a period of sixty thirty (6030) days after the District knows, or (or should have known, that such default exists; provided, however, that if in the Authority notifies the Trustee that in its reasonable opinion of the failure District the default stated in the notice can be corrected, but not within such 60 30 day period, and corrective action is instituted by the failure will not constitute an event of default if the Authority commences to cure the failure District within such 60 30 day period and thereafter diligently and pursued in good faith cures until the default is corrected, such failure default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in a reasonable period connection with the execution and delivery of time)this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) if The filing of a notice of judgment lien against the Authority District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority District seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority District or of the whole or any substantial part of its their respective property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; then and in each and every such case during the continuance of such event Event of default Default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shallBank may, by notice in writing to the AuthorityDistrict, declare all of the principal of all Bonds then Outstanding and the interest accrued thereon unpaid Series 2023 Installment Payments to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provision, Section however, is subject to the condition that if at any time after the principal all of the Bonds then Outstanding unpaid Series 2023 Installment Payments shall have been so declared due and payable and before any judgment or decree for the payment of the money moneys due shall have been obtained or entered the Authority District shall deposit with the Trustee Bank a sum sufficient to pay all matured interest on all the Bonds and all principal of the Bonds matured unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due prior to such declaration and premium, if anydeclaration, with interest on such overdue installments, at the rate borne by or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Bonds on such overdue interest and principal and premium, Contract or Bond if anypaid in accordance with their terms, and the reasonable fees and expenses of the TrusteeBank, and any and all other defaults known to the Trustee Bank (other than in the payment of interest on and principal all of the Bonds unpaid Series 2023 Installment Payments due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee Bank or provision deemed by the Trustee Bank to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then OutstandingBank, by written notice to the Authority and to the TrusteeDistrict, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events Events of default”) Default shall happen, that is to say:say -- (a1) if default shall be made by the Authority District in the due and punctual payment of the interest on any Series 2022 Installment Payment or any Contract or Bond when and as the same shall become due and payable; (b2) if default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority District in the performance of any of the other agreements or covenants required herein or in connection with any Contract or Bond to be performed by the Authorityit, and such default shall have continued for a period of sixty (60) days or (or if after the Authority notifies District shall have been given notice in writing of such default by the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time)Purchaser; (d3) if the Authority District shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority District seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority District or of the whole or any substantial part of its property; or (e4) if an Event of Default has occurred under Section 6.01 payment of the Facilities Leaseprincipal of any Contract or Bond is accelerated in accordance with its terms; then and in each and every such case during upon the continuance occurrence of such event Event of default Default specified in clauses (3) and (4) above, without any notice to the TrusteeDistrict, upon the written request of Purchaser shall declare the Bondholders of not less than a majority in aggregate entire principal amount of the Bonds then Outstanding shallunpaid Series 2022 Installment Payments and the accrued interest thereon shall be immediately due and payable, and for any other Event of Default the Purchaser may, by notice in writing to the AuthorityDistrict, declare the entire principal amount of all Bonds then Outstanding the unpaid Series 2022 Installment Payments and the accrued interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provisionsection, however, is subject to the condition that if at any time after the entire principal amount of the Bonds then Outstanding unpaid Series 2022 Installment Payments and the accrued interest thereon shall have been so declared due and payable and before any judgment or decree for the payment of the money moneys due shall have been obtained or entered the Authority District shall deposit with the Trustee Purchaser a sum sufficient to pay all matured interest on all the Bonds and all unpaid principal amount of the Bonds matured Series 2022 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (1) above due prior to such declaration and premium, if anythe accrued interest thereon, with interest on such overdue installments, at the rate borne by or rates applicable to the remaining unpaid principal balance of the Series 2022 Installment Payments or such Bonds on such overdue interest and principal and premium, Contract or Bond if anypaid in accordance with their terms, and the reasonable fees and expenses of the TrusteeDistrict, and any and all other defaults known to the Trustee District (other than in the payment of interest on and the entire principal amount of the Bonds unpaid Series 2022 Installment Payments and the accrued interest thereon due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee Purchaser, if appropriate, or provision deemed by the Trustee Purchaser, if appropriate, to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then OutstandingPurchaser, if appropriate by written notice to the Authority and to the TrusteeDistrict, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events (herein called “events shall constitute Events of default”) shall happen, that is to sayDefault hereunder: (a) if default shall be made Failure by the Authority in Agency to pay the due and punctual payment principal of or interest or prepayment premium (if any) on the interest on Loan or any Bond Parity Debt when and as the same shall become due and payable;. (b) if default shall be made Failure by the Authority in the due Agency to observe and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of perform any of the other covenants, agreements or covenants required herein conditions on its part contained in this Loan Agreement, other than as referred to be performed by in the Authoritypreceding clause (a), and such default shall have continued for a period of sixty thirty (6030) days or (or after written notice, specifying such failure and requesting that it be remedied, has been given to the Agency by the Trustee; provided, however, that if in the Authority notifies the Trustee that in its reasonable opinion of the Agency the failure stated in the such notice can be corrected, but not within such 60 thirty (30) day period, the such failure will shall not constitute an event Event of default Default if corrective action is instituted by the Authority commences to cure the failure Agency within such 60 thirty (30) day period and thereafter is diligently and in good faith cures pursued until such failure in a reasonable period of time);is corrected. (dc) if The filing by the Authority shall file Agency of a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any other applicable law of the United States of America, or if a court of competent jurisdiction shall approve a petition, filed with or without the consent of the Agency, seeking reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinif, or if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the Authority Agency or of the whole or any substantial part of its property; or. (ed) The default in the payment of any Senior Debt. Subject to the rights and obligations under the Senior Loan Agreement, if an Event of Default has occurred under Section 6.01 of and is continuing, the Facilities Lease; then and in each and every such case during the continuance of such event of default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shall, by notice in writing to the Authority, Trustee may (a) declare the principal of the Loan, together with accrued interest on all Bonds then Outstanding and the interest accrued thereon unpaid installments thereof, to be due and payable immediately, and upon any such declaration the same shall will become immediately due and payable, anything contained herein or in the Bonds this Loan Agreement to the contrary notwithstanding, and (b) subject to receipt of satisfactory indemnity, exercise any other remedies available to the Trustee in law or equity arising hereunder. The Immediately upon becoming aware of the occurrence of an Event of Default under this Loan Agreement, the Trustee shall give notice of such Event of Default to the Agency by telephone, telecopier or other telecommunication device, promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written noticeconfirmed in writing. This provision, however, is subject to the condition that if if, at any time after the principal of the Bonds then Outstanding shall have Loan has been so declared due and payable payable, and before any judgment or decree for the payment of the money moneys due shall have has been obtained or entered entered, the Authority shall Agency will deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all installments of principal of the Bonds Loan matured prior to such declaration and premium, if anyall accrued interest thereon, with interest at the rate borne by such Bonds on such overdue interest and installments of principal and premium, if anyinterest at the net effective rate then borne by the Outstanding Bonds, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of principal of and interest on and principal of the Bonds Loan due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then then, and in every such case case, the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstandingmay, by written notice to the Authority and to the TrusteeAgency, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any the right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events of default”) shall happen, that is to say: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants required herein to be performed by the Authority, and such default shall have continued for a period of sixty (60) days or (or if the Authority notifies the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time); (d) if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; or (f) if an Event of Default has occurred under the Continuing Covenant Agreement; then and in each and every such case during the continuance of such event of default the Trustee may, with the consent of the Purchaser, or, at the direction of the Purchaser, shall institute legal proceedings pursuant to Section 7.03 hereof. In addition, in the event of a default described in Section 7.01(a) or (b) hereof, the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding Purchaser shall, by notice in writing to the Authority, declare the principal of all Bonds then Outstanding and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provision, however, is subject to the condition that if at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the money due shall have been obtained or entered the Authority shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, if any, with interest at the rate borne by such Bonds on such overdue interest and principal and premium, if any, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then OutstandingPurchaser, by written notice to the Authority and to the Trustee, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon. Notwithstanding anything to the contrary herein, under no circumstances may the Authority or the Trustee accelerate the payment of Base Rental under the Facilities Lease.

Events of Default and Acceleration of Maturities. If one or more of the The following events (herein called “events shall constitute Events of default”) shall happen, that is to sayDefault hereunder: (a) if default shall be made Failure by the Authority in Agency to pay the due and punctual payment principal of or interest or prepayment premium (if any) on the interest on Loan or any Bond Parity Debt when and as the same shall become due and payable;. (b) if default shall be made Failure by the Authority in the due Agency to observe and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of perform any of the other covenants, agreements or covenants required herein conditions on its part contained in this Loan Agreement, other than as referred to be performed by in the Authoritypreceding clause (a), and such default shall have continued for a period of sixty thirty (6030) days or (or after written notice, specifying such failure and requesting that it be remedied, has been given to the Agency by the Trustee; provided, however, that if in the Authority notifies the Trustee that in its reasonable opinion of the Agency the failure stated in the such notice can be corrected, but not within such 60 thirty (30) day period, the such failure will shall not constitute an event Event of default Default if corrective action is instituted by the Authority commences to cure the failure Agency within such 60 thirty (30) day period and thereafter is diligently and in good faith cures pursued until such failure in a reasonable period of time);is corrected. (dc) if The filing by the Authority shall file Agency of a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any other applicable law of the United States of America, or if a court of competent jurisdiction shall approve a petition, filed with or without the consent of the Agency, seeking reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinif, or if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the Authority Agency or of the whole or any substantial part of its property; or. (ed) if The default in the payment of any Subordinate Debt. If an Event of Default has occurred under Section 6.01 of and is continuing, the Facilities Lease; then and in each and every such case during the continuance of such event of default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shall, by notice in writing to the Authority, Trustee may (a) declare the principal of the Loan, together with accrued interest on all Bonds then Outstanding and the interest accrued thereon unpaid installments thereof, to be due and payable immediately, and upon any such declaration the same shall will become immediately due and payable, anything contained herein or in the Bonds this Loan Agreement to the contrary notwithstanding, and (b) subject to receipt of satisfactory indemnity, exercise any other remedies available to the Trustee in law or equity arising hereunder. The Immediately upon becoming aware of the occurrence of an Event of Default under this Loan Agreement, the Trustee shall give notice of such Event of Default to the Agency by telephone, telecopier or other telecommunication device, promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written noticeconfirmed in writing. This provision, however, is subject to the condition that if if, at any time after the principal of the Bonds then Outstanding shall have Loan has been so declared due and payable payable, and before any judgment or decree for the payment of the money moneys due shall have has been obtained or entered entered, the Authority shall Agency will deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all installments of principal of the Bonds Loan matured prior to such declaration and premium, if anyall accrued interest thereon, with interest at the rate borne by such Bonds on such overdue interest and installments of principal and premium, if anyinterest at the net effective rate then borne by the Outstanding Bonds, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of principal of and interest on and principal of the Bonds Loan due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then then, and in every such case case, the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstandingmay, by written notice to the Authority and to the TrusteeAgency, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any the right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events (herein called “events shall each be an "event of default”) shall happen, that is to say" under this Trust Agreement: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal of, or premium, premium (if any) on, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or expressed, by proceedings for mandatory redemption, by declaration or otherwise; (b) if default shall be made in the due and punctual payment of any installment of interest on any Bond when and as such interest installment shall become due and payable; (c) if there shall be a default under the Project Lease by reason of failure by the City to pay any rental under the Project Lease relating to or in connection with the Project as and when the same becomes due and payable; (d) if default shall be made by the Authority in the performance observance of any of the other covenants, agreements or covenants required herein to be performed by conditions on its part in this Trust Agreement or in the AuthorityBonds contained, and such default shall have continued for a period of sixty (60) days or (or if after written notice thereof, specifying such default and requiring the same to be remedied, shall have been given to the Authority notifies by the Trustee, or to the Authority and the Trustee by the Owners of not less than twenty-five percent (25%) in aggregate principal amount of the Bonds at the time Outstanding, provided that in its reasonable opinion the failure stated such sixty (60) day period shall be extended to one hundred twenty (120) days in the notice can be corrected, but event the City is not within such 60 day period, the failure will not constitute an event of default if the Authority commences able to cure the failure such default within such 60 a sixty (60) day period and thereafter diligently and in but commenced a good faith cures such failure in a reasonable period effort to cure immediately upon receipt of time);notice as described above; or (de) if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinif, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property, and such custody or control shall not be terminated or stayed within sixty (60) days from the date of assumption of such custody or control; or (e) if an Event If one or more such events of Default has occurred under Section 6.01 of the Facilities Lease; then default shall occur, then, and in each and every such case during the continuance of such event of default default, the TrusteeTrustee may, upon at the written request direction of the Bondholders Owners of not less than a majority in aggregate principal amount of the Bonds then Outstanding shallBonds, by written notice in writing to the Authority, declare the principal of all the Bonds then Outstanding Outstanding, and the interest accrued thereon thereon, to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This foregoing provision, however, is subject to the condition that if if, at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the money due shall have been obtained or entered payable, the Authority shall pay to or shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the Bonds matured maturing prior to such declaration and premium, all matured installments of interest (if any, with interest at ) upon all the rate borne by such Bonds on such overdue interest and principal and premium, if any, and the reasonable fees and expenses of the TrusteeBonds, and any and all other defaults known to the Trustee (other than in the payment of principal of and interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee Trustee, or provision deemed by the Trustee to be adequate shall have been made therefor, then then, and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstandingcase, by written notice to the Authority and to the Trustee, may on behalf of the Bondholders Owners of all of the Bonds then Outstanding Bonds, shall rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any right or power consequent thereon; provided, however, that the Trustee’s obligation to so rescind and annul such declaration shall be subject to the provisions of the next following paragraph.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events Events of default”) Default shall happen, that is to say: (a) if default shall be made by the Authority Agency in the due and punctual payment of the interest on any Series 2018A Installment Payment or any Contract or Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority Agency in the performance of any of the other agreements or covenants required herein or in connection with any Contract or Bond to be performed by the Authorityit, and such default shall have continued for a period of thirty (30) days after the Agency shall have been given notice in writing of such default by the Authority or, if such default is not reasonably susceptible to cure within thirty (30) days after notice thereof, such default shall have continued for a period of sixty (60) days or (or if the Authority notifies the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time)days; (dc) if the Authority Agency shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority Agency seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority Agency or of the whole or any substantial part of its property; or (ed) if an Event of Default has occurred under Section 6.01 payment of the Facilities Leaseprincipal of any Contract or Bond is accelerated in accordance with its terms; then and in each and every such case during the continuance of such event Event of default Default specified in clause (c) and (d) above, the TrusteeAuthority shall, upon and for any other such Event of Default the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shallAuthority may, by notice in writing to the AuthorityAgency, declare the entire principal amount of all Bonds then Outstanding the unpaid Series 2018A Installment Payments and the accrued interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provisionsection, however, is subject to the condition that if at any time after the entire principal amount of the Bonds then Outstanding unpaid Series 2018A Installment Payments and the accrued interest thereon shall have been so declared due and payable and before any judgment or decree for the payment of the money moneys due shall have been obtained or entered the Authority Agency shall deposit with the Trustee Authority a sum sufficient to pay all matured interest on all the Bonds and all unpaid principal amount of the Bonds matured Series 2018A Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due prior to such declaration and premium, if anythe accrued interest thereon, with interest on such overdue installments, at the rate borne by or rates applicable to the remaining unpaid principal balance of the Series 2018A Installment Payments or such Bonds on such overdue interest and principal and premium, Contract or Bond if anypaid in accordance with their terms, and the reasonable fees and expenses of the TrusteeAuthority, and any and all other defaults known to the Trustee Authority (other than in the payment of interest on and the entire principal amount of the Bonds unpaid Series 2018A Installment Payments and the accrued interest thereon due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee Authority, or provision deemed by the Trustee Authority to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then OutstandingAuthority, by written notice to the Authority and to the TrusteeAgency, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events Events of defaultDefault”) shall happen, that is to say: (a) if If default shall be made in the due and punctual payment of the principal or Accreted Value of or redemption premium, if any, or any mandatory sinking fund payment, on any Bond when and as the same shall become due and payable, whether at maturity as therein expressed, by the Authority declaration or otherwise; (b) If default shall be made in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (bc) if If default shall be made by the Authority Agency in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance observance of any of the other agreements agreements, conditions or covenants required herein to be performed by on its part in this Indenture or in the AuthorityBonds contained, and such default shall have continued for a period of sixty (60) 60 days or (or if after the Authority notifies Agency shall have been given notice in writing of such default by the Trustee Trustee; provided, however, that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will default shall not constitute an event Event of default Default hereunder if the Authority commences Agency shall commence to cure the failure such default within such 60 said 60-day period and thereafter diligently and in good faith cures proceed to cure such failure in default within a reasonable period of time);; or (d) if If the Authority Agency shall file a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any other applicable law of the United States of America, or if a court of competent jurisdiction shall approve a petition, filed with or without the consent of the Agency, seeking reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinif, or if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the Authority Agency or of the whole or any substantial part of its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; then then, and in each and every such case during the continuance of such event of default default, the TrusteeTrustee may, and upon the direction of the Bond Insurer or upon the written request of the Bondholders Owners of not less than a majority twenty-five per cent (25%) in aggregate principal amount of the Bonds then at the time Outstanding with the consent of the Bond Insurer, shall, by notice in writing to the AuthorityAgency, declare the principal or Accreted Value of all of the Bonds then Outstanding Outstanding, and the interest accrued thereon thereon, to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything contained herein in this Indenture or in the Bonds contained to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of ; provided, however, that any such event declaration shall be subject to the prior written consent of default which is continuing of which a Responsible Officer has actual knowledge or written noticethe Bond Insurer, if any. This provision, however, is subject to the condition that if if, at any time after the principal or Accreted Value of the Bonds then Outstanding shall have been so declared due and payable payable, and before any judgment or decree for the payment of the money due shall have been obtained or entered entered, the Authority Agency shall deposit with the Trustee a sum sufficient to pay all matured interest principal on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, all matured installments of interest (if any) upon all the Bonds, with interest at the rate borne by such Bonds of ten per cent (10%) per annum on such overdue interest and installments of principal and premium, if anyinterest, and the reasonable fees and expenses of the Trustee, including attorneys fees, and any and all other defaults known to the Trustee (other than in the payment of principal or Accreted Value of and interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then then, and in every such case case, the Trustee or the Bondholders Owners of not less than a majority at least twenty-five per cent (25%) in aggregate principal amount of the Bonds then Outstanding, by written notice to the Authority Agency and to the Trustee, may may, on behalf of the Bondholders Owners of all of the Bonds then Outstanding Bonds, rescind and annul such declaration and its consequences; but provided, however, that no such rescission or annulment shall occur without the prior written consent of the Bond Insurer, if any. No such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events of default”) shall happen, that is to say: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants required herein to be performed by the Authority, and such default shall have continued for a period of sixty (60) days or (or if the Authority notifies the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time); (d) if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Facility Lease; then and in each and every such case during the continuance of such event of default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shall, by notice in writing to the Authority, declare the principal of all Bonds then Outstanding and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provision, however, is subject to the condition that if at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the money due shall have been obtained or entered the Authority shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, if any, with interest at the rate borne by such Bonds on such overdue interest and principal and premium, if any, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstanding, by written notice to the Authority and to the Trustee, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events of default”) shall happen, that is to say: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal of or redemption premium, if any, of on any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants required herein to be performed by the Authority, and such default shall have continued for a period of sixty (60) days or (or if after the Authority notifies shall have been given notice in writing of such default by the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time);Trustee; or (d) if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; then and in each and every such case during the continuance of such event of default the TrusteeTrustee may, upon with the written request consent of the Bondholders Bond Insurer, and shall, at the written direction of the Bond Insurer or the Holders of not less than a majority fifty-one percent (51%) in aggregate principal amount of the Bonds then Outstanding shallwith the written consent of the Bond Insurer, by notice in writing to the Authority, declare the principal of all Bonds then Outstanding and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail Holders of any such event of default which is continuing and of which the Trustee has notice pursuant to Section 5.02. Such notice shall include a Responsible Officer reference to or a summary of the rights and remedies available to the Holders as set forth herein. Upon the occurrence and continuance of an event of default, the Bond Insurer shall be entitled to control and direct the enforcement of all rights and remedies granted to the Holders and the Trustee for the benefit of the Holders under this Trust Agreement, including, without limitation: (i) the right to accelerate the principal of the Bonds as described above and (ii) the right to annul any declaration of acceleration, and the Bond Insurer shall also be entitled to approve all waivers of events of default hereunder. With respect to any reorganization or liquidation plan with respect to the Authority must be acceptable to the Bond Insurer, and in such any reorganization or liquidation, the Bond Insurer shall have the right to vote on behalf of all Holders absent a default by the Bond Insurer under the Bond Insurance Policy. In determining whether an event of default has actual knowledge occurred as described in Section 7.01(a) or written notice(b) or whether payment has been made on the 2014 Series A Bonds, payments made under the Bond Insurance Policy shall not be considered. This provisionFor all purposes of this Trust Agreement governing events of default and remedies, howeverexcept for the giving of notice of default to Holders, the Bond Insurer shall be deemed to be the sole holder of the 2014 Series A Bonds it has insured for so long as it has not failed to comply with its payment obligations under the Bond Insurance Policy. The provision above permitting the declaration of the principal of all Bonds then Outstanding and the interest accrued thereon to be due and payable immediately is subject to the condition that if at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the money due shall have been obtained or entered the Authority shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, if anydeclaration, with interest at the rate borne by such Bonds on such overdue interest and principal and premium, if anyprincipal, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders Holders of not less than a majority fifty-one percent (51%) in aggregate principal amount of Bonds then OutstandingOutstanding with the written consent of the Bond Insurer, by written notice to the Authority and to the Trustee, may on behalf of the Bondholders Holders of all the Bonds then there Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events of default”) shall happen, that is to say: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal of or redemption premium, if any, of on any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants required herein to be performed by the Authority, and such default shall have continued for a period of sixty thirty (6030) days or (or if after the Authority notifies shall have been given notice in writing of such default by the Trustee that in its reasonable opinion the failure stated in the notice Trustee; except that, if such default can be corrected, remedied but not within such 60 thirty (30) day period and if the Authority has taken all action reasonably possible to remedy such default within such thirty (30) day period, the failure will such default shall not constitute become an event of default if hereunder for so long as the Authority commences shall diligently proceed to cure remedy the failure within such 60 day period same in accordance with and thereafter diligently and in good faith cures such failure in a reasonable period of time)subject to any directions established by the Trustee; (d) if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinthe State, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property; or (e) if If an Event of Default has occurred under Section 6.01 of the Facilities Lease; Agreement, then and in each and every such case during the continuance of such event of default the TrusteeTrustee may, and upon the written request of the Bondholders Holders of not less than a majority fifty-one percent (51%) in aggregate principal amount of the Bonds then Outstanding Outstanding, shall, by notice in writing to the Authority, declare the principal of all Bonds then Outstanding and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail Holders of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written noticecontinuing. This provision, however, is subject to the condition that if at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the money due shall have been obtained or entered the Authority shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, if anydeclaration, with interest at the rate borne by such Bonds on such overdue interest and principal and premium, if anyprincipal, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders tthe Holders of not less than a majority fifty-one percent (51%) in aggregate principal amount of Bonds then Outstanding, by written notice to the Authority and to the Trustee, may on behalf of the Bondholders Holders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events (herein called “events shall constitute Events of default”) shall happen, that is to sayDefault hereunder: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority Successor Agency in the due and punctual payment of the principal of or premium, if any, of interest on any Bond when and as the same shall become due and payable, whether at maturity as therein expressed expressed, by declaration or by proceedings for mandatory redemptionotherwise; (cb) if default shall be made by the Authority Successor Agency in the performance observance of any of the other covenants, agreements or covenants required herein to be performed by conditions on its part in this Indenture or in the AuthorityBonds or any Parity Debt Instrument contained, other than a default described in the preceding clause (a), and such default shall have continued for a period of sixty thirty (6030) days or (or if following receipt by the Authority notifies Successor Agency of written notice from the Trustee or any Owner of the occurrence of such default, provided that if in its the reasonable opinion of the Successor Agency the failure stated in the notice can be corrected, but not within such 60 30 day period, the such failure will not constitute an event of default if corrective action is instituted by the Authority commences to cure the failure Successor Agency within such 60 30 day period and the Successor Agency thereafter diligently and in good faith cures such failure in a reasonable period of time);; or (dc) if If the Authority shall file Successor Agency files a petition seeking reorganization or answer arrangement under the federal bankruptcy laws or any other applicable law of the United States of America, or if a court of competent jurisdiction will approve a petition seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America America, or, if under the provisions of any other law for the relief or aid of debtors, any state therein, or if a court of competent jurisdiction shall will approve a petition filed with or without the consent of the Authority petition, seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or or, if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall will assume custody or control of the Authority Successor Agency or of the whole or any substantial part of its property; or (e) if . If an Event of Default has occurred under this Section 6.01 and is continuing, the Trustee may, or, if requested in writing by the Owners of the Facilities Lease; then and in each and every such case during the continuance of such event of default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding the Trustee shall, by notice in writing to the Authority, (a) declare the principal of all Bonds then Outstanding and the Bonds, together with the accrued interest accrued thereon thereon, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein in this Indenture or in the Bonds to the contrary notwithstanding, and (b) the Trustee shall, subject to the provisions of Section 8.06, exercise any other remedies available to the Trustee and the Bond Owners in law or at equity. The Immediately upon receiving notice or actual knowledge of the occurrence of an Event of Default, the Trustee shall give notice of such Event of Default to the Successor Agency by telephone promptly notify all Bondholders confirmed in writing. Such notice shall also state whether the principal of the Bonds shall have been declared to be or have immediately become due and payable. With respect to any Event of Default described in clauses (a) or (c) above the Trustee shall, and with respect to any Event of Default described in clause (b) above the Trustee in its sole discretion may, also give such notice to the Owners by first class mail of mail, which shall include the statement that interest on the Bonds shall cease to accrue from and after the date, if any, on which the Trustee shall have declared the Bonds to become due and payable pursuant to the preceding paragraph (but only to the extent that principal and any accrued, but unpaid, interest on the Bonds is actually paid on such event of default which is continuing of which a Responsible Officer has actual knowledge or written noticedate). This provision, however, is subject to the condition that if if, at any time after the principal of the Bonds then Outstanding shall have been so declared due and payable payable, and before any judgment or decree for the payment of the money moneys due shall have been obtained or entered entered, the Authority Successor Agency shall deposit with the Trustee a sum sufficient to pay all matured interest principal on all the Bonds and all principal of the Bonds matured prior to such declaration and premium, all matured installments of interest (if any) upon all the Bonds, with interest at the rate borne by such Bonds on such overdue interest and installments of principal and premium, if anyinterest (to the extent permitted by law), and the reasonable fees and expenses of the Trustee, (including the allocated costs and disbursements of its in-house counsel to the extent such services are not redundant with those provided by outside counsel) and any and all other defaults known to the Trustee (other than in the payment of principal of and interest on and principal of the Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then then, and in every such case case, the Trustee or shall promptly give written notice of the Bondholders foregoing to the Owners of not less than all Bonds then Outstanding, and the Owners of at least a majority in aggregate principal amount of the Bonds then Outstanding, by written notice to the Authority Successor Agency and to the Trustee, may may, on behalf of the Bondholders Owners of all of the Bonds then Outstanding Bonds, rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events Events of default”) Default shall happen, that is to say: (a) if default shall be made by the Authority Agency in the due and punctual payment of the interest on any 2020 Installment Payment or any Contract or Bond when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority Agency in the performance of any of the other agreements or covenants required herein or in connection with any Contract or Bond to be performed by the Authorityit, and such default shall have continued for a period of thirty (30) days after the Agency shall have been given notice in writing of such default by the Authority or, if such default is not reasonably susceptible to cure within thirty (30) days after notice thereof, such default shall have continued for a period of sixty (60) days or (or if the Authority notifies the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time)days; (dc) if the Authority Agency shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority Agency seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority Agency or of the whole or any substantial part of its property; or (ed) if an Event of Default has occurred under Section 6.01 payment of the Facilities Leaseprincipal of any Contract or Bond is accelerated in accordance with its terms; then and in each and every such case during the continuance of such event Event of default Default specified in clause (c) and (d) above, the TrusteeAuthority shall, upon and for any other such Event of Default the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shallAuthority may, by notice in writing to the AuthorityAgency, declare the entire principal amount of all Bonds then Outstanding the unpaid 2020 Installment Payments and the accrued interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provisionsection, however, is subject to the condition that if at any time after the entire principal amount of the Bonds then Outstanding unpaid 2020 Installment Payments and the accrued interest thereon shall have been so declared due and payable and before any judgment or decree for the payment of the money moneys due shall have been obtained or entered the Authority Agency shall deposit with the Trustee Authority a sum sufficient to pay all matured interest on all the Bonds and all unpaid principal amount of the Bonds matured 2020 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due prior to such declaration and premium, if anythe accrued interest thereon, with interest on such overdue installments, at the rate borne by or rates applicable to the remaining unpaid principal balance of the 2020 Installment Payments or such Bonds on such overdue interest and principal and premium, Contract or Bond if anypaid in accordance with their terms, and the reasonable fees and expenses of the TrusteeAuthority, and any and all other defaults known to the Trustee Authority (other than in the payment of interest on and the entire principal amount of the Bonds unpaid 2020 Installment Payments and the accrued interest thereon due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee Authority, or provision deemed by the Trustee Authority to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then OutstandingAuthority, by written notice to the Authority and to the TrusteeAgency, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events of default”) shall happen, that is to say: (a) if default shall be made by the Authority in the due and punctual payment of the interest on any Bond Obligation when and as the same shall become due and payable; (b) if default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond Obligation when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemptionPrepayment; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants required herein to be performed by the Authority, and such default shall have continued for a period of sixty (60) days or such additional time (with respect to agreements or if covenants that cannot be corrected or performed within such sixty (60) day period but the correction of which is being diligently pursued by the Authority) as is reasonably required to correct any such default after the Authority notifies shall have been given notice in writing of such default by the Trustee that in its reasonable opinion or the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time)Holder; (d) if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority or of the whole or any substantial part of its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities LeaseSublease; then and in each and every such case during the continuance of such event of default the Trustee, may and upon the written request of the Bondholders Holders of not less than a majority in aggregate principal amount of the Bonds Obligations then Outstanding shall, by notice in writing to the Authority, declare the principal of all Bonds Obligations then Outstanding and the interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become due and payable, anything contained herein or in the Bonds Obligations to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders Holders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This provision, however, is subject to the condition that if at any time after the principal of the Bonds Obligations then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the money due shall have been obtained or entered the Authority shall deposit with the Trustee a sum sufficient to pay all matured interest on all the Bonds Obligations and all principal of the Bonds Obligations matured prior to such declaration and premium, if anydeclaration, with interest at the rate borne by such Bonds Obligations on such overdue interest and principal and premium, if anyprincipal, and the reasonable fees and expenses of the Trustee, and any and all other defaults known to the Trustee (other than in the payment of interest on and principal of the Bonds Obligations due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders Holders of not less than a majority in aggregate principal amount of Bonds Obligations then Outstanding, by written notice to the Authority and to the Trustee, may on behalf of the Bondholders Holders of all the Bonds Obligations then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “events Events of default”) Default shall happen, that is to say: (a1) if default shall be made by the Authority District in the due and punctual payment of the interest on any WIFIA Installment Payment or any Contract or Bond when and as the same shall become due and payable; (b2) if default shall be made by the Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority District in the performance of any of the other agreements or covenants which are required herein to be performed by the Authorityit, and such default shall have continued for a period of sixty (60) days or (or if after the Authority notifies District shall have been given notice in writing of such default by the Trustee that in its reasonable opinion the failure stated in the notice can be corrected, but not within such 60 day period, the failure will not constitute an event of default if the Authority commences to cure the failure within such 60 day period and thereafter diligently and in good faith cures such failure in a reasonable period of time);Authority; or (d3) if the Authority District shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the Authority District seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the Authority District or of the whole or any substantial part of its property; or (e4) if payment of the principal of any Contract or Bond is accelerated in accordance with its terms; or (5) if an “Event of Default” under and as defined in the WIFIA Loan Agreement shall have occurred; then the Authority shall immediately notify the Authority Lender of an Event of Default has occurred under Section 6.01 and follow any written directions of the Facilities Lease; then and in each and every such case during Authority Lender, which may include a direction to declare the continuance of such event of default the Trustee, upon the written request of the Bondholders of not less than a majority in aggregate entire principal amount of the Bonds then Outstanding shall, by notice in writing to the Authority, declare the principal of all Bonds then Outstanding unpaid WIFIA Installment Payments and the accrued interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding; provided that the unpaid Purchase Price shall automatically become due and payable without the action of the Authority or any other person if the unpaid principal amount of the WIFIA Loan shall have become immediately due and payable. The Trustee Notwithstanding anything to the contrary set forth herein, the Authority shall promptly notify all Bondholders by first class mail not have the right to (i) declare the unpaid Purchase Price immediately due and payable or (ii) exercise any other rights or remedies hereunder following the occurrence of any such event an Event of default which is continuing Default in each case without the prior written direction of which a Responsible Officer has actual knowledge or written noticethe Authority Lender. This provisionsection, however, is subject to the condition that if at any time after the entire principal amount of the Bonds then Outstanding unpaid WIFIA Installment Payments and the accrued interest thereon shall have been so declared due and payable and payable, but before any judgment or decree for the payment of the money moneys due shall have been obtained or entered entered, the Authority District shall deposit with the Trustee a sum Authority an amount that is sufficient to pay all matured interest on all the Bonds and all unpaid principal amount of the Bonds matured WIFIA Installment Payments or the unpaid payment of any other Contract or Bond referred to in clauses (1) or (4) above due prior to such declaration and premium, if anythe accrued interest thereon, with interest on such overdue installments, at the rate borne by or rates applicable to the remaining unpaid principal balance of the WIFIA Installment Payments or such Bonds on such overdue interest and principal and premium, Contract or Bond if anypaid in accordance with their terms, and the reasonable fees and expenses of the TrusteeAuthority, and any and all other defaults known to the Trustee Authority (other than in the payment of interest on and the entire principal amount of the Bonds unpaid WIFIA Installment Payments and the accrued interest thereon due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Trustee Authority or provision deemed by the Trustee Authority to be adequate shall have been made therefor, then and in every such case the Trustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then OutstandingAuthority, by written notice to the Authority and to the TrusteeDistrict, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.