Financing Agreement. This Financing Agreement is executed, among other reasons, to induce the making of the Loan by the Authority to the School District and, to the extent that the Authority may so determine from time to time in accordance with Section 8.10 hereof, to secure the Authority Bonds. Accordingly, those rights of the Authority to enforce the duties, covenants, obligations and agreements of the School District set forth in clause (i) of the first sentence of Section 8.10 hereof, including the right to enforce the payment of amounts due under the School District Bonds, may at any time, in whole or in part, be assigned and pledged by the Authority to the Trustee for the benefit of the owners of the Authority Bonds and thereafter such duties, covenants, obligations and agreements so assigned and pledged shall be for the benefit of and enforceable by the Trustee and the Authority except that beneficial owners of bonds hereafter issued under the Master Resolution shall be third-party beneficiaries of Section 8.9(B) of this Agreement.
Appears in 7 contracts
Samples: Financing Agreement, Financing Agreement, Financing Agreement
