Common use of Issuer’s Performance Clause in Contracts

Issuer’s Performance. (a) None of the provisions of this Trust Agreement or the other Issuer Documents shall require the Issuer to expend or risk its own funds or otherwise to incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers hereunder or thereunder, unless payable from the Portfolio Assets, or unless the Issuer shall first have been adequately indemnified to its satisfaction against the cost, expense, and liability which may be incurred thereby. The Issuer shall not be under any obligation hereunder to perform any administrative service with respect to the Certificates (including, without limitation, record keeping and legal services), it being understood that such services shall be performed or provided by the Trustee or the Administrator. The Issuer covenants that it will faithfully perform at all times any and all covenants, undertakings, stipulations, and provisions expressly contained in this Trust Agreement, and any and every Certificate executed, authenticated and delivered under this Trust Agreement; provided, however, that the Issuer shall not be obligated to take any action or execute any instrument pursuant to any provision hereof unless and until it shall have (i) been directed to do so in writing by the Administrator, the Trustee, or the Majority Owners having the authority to so direct; (ii) received from the Person requesting such action or execution assurance satisfactory to the Issuer that the Issuer’s expenses incurred or to be incurred in connection with taking such action or executing such instrument have been or will be paid or reimbursed to the Issuer; and (iii) if applicable, received in a timely manner the instrument or document to be executed, in form and substance satisfactory to the Issuer. (b) In complying with any provision herein, including, but not limited to, any provision requiring the Issuer to “cause” another Person to take or omit any action, the Issuer shall be entitled to rely conclusively (and without independent investigation or verification) (i) on the faithful performance by the Trustee and the Administrator, as the case may be, of their respective obligations hereunder and under the Administration Agreement and (ii) upon any written certification or opinion furnished to the Issuer by the Trustee or the Administrator, as the case may be. In acting, or in refraining from acting, under this Trust Agreement, the Issuer may conclusively rely on the advice of its counsel. The Issuer shall not be required to take any action hereunder that it reasonably believes to be unlawful or in contravention hereof or thereof.

Issuer’s Performance. (a) None of the provisions of this Trust Loan Agreement or the other Issuer Documents Trust Indenture shall require the Issuer to expend or risk its own funds or otherwise to incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers hereunder or thereunder, unless payable from the Portfolio AssetsTrust Estate, or unless the Issuer shall first have been adequately indemnified to its satisfaction against the cost, expense, and liability which may be incurred thereby. The Issuer shall not be under any obligation hereunder to perform any administrative service with respect to the Certificates Bonds or the Project Facilities (including, without limitation, record keeping and legal services), it being understood that such services shall be performed or provided by the Bond Trustee or the AdministratorBorrower. The Issuer covenants that it will faithfully perform at all times any and all covenants, undertakings, stipulations, and provisions expressly contained in this Loan Agreement, the Trust AgreementIndenture, and any and every Certificate Bond executed, authenticated and delivered under this the Trust AgreementIndenture; provided, however, that the Issuer shall not be obligated to take any action or execute any instrument pursuant to any provision hereof unless and until it shall have (i) been directed to do so in writing by the AdministratorBorrower, the Bond Trustee, or the Majority Owners Bondholder having the authority to so direct; (ii) received from the Person Borrower, the Bond Trustee, or the Bondholder requesting such action or execution assurance satisfactory to the Issuer that the Issuer’s expenses incurred or to be incurred in connection with taking such action or executing such instrument have been or will be paid or reimbursed to the Issuer; and (iii) if applicable, received in a timely manner the instrument or document to be executed, in form and substance satisfactory to the Issuer. (b) . In complying with any provision hereinherein or in the Trust Indenture, including, but not limited to, any provision requiring the Issuer to “cause” another Person to take or omit any action, the Issuer shall be entitled to rely conclusively (and without independent investigation or verification) (i) on the faithful performance by the Bond Trustee and or the AdministratorBorrowers, as the case may be, of their respective obligations hereunder and under the Administration Agreement Trust Indenture and (ii) upon any written certification or opinion furnished to the Issuer by the Bond Trustee or the AdministratorBorrowers, as the case may be. In acting, or in refraining from acting, under this Loan Agreement or the Trust AgreementIndenture, the Issuer may conclusively rely on the advice of its counsel. The Issuer shall not be required to take any action hereunder or under the Trust Indenture that it reasonably believes to be unlawful or in contravention hereof or thereof.

Issuer’s Performance. (a) The Issuer shall have no liability or obligation with respect to the payment of the purchase price of the Subordinate Bonds. None of the provisions of this Trust Subordinate Loan Agreement or the other Issuer Documents shall require the Issuer to expend or risk its own funds or to otherwise to incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers hereunder or thereunderhereunder, unless payable from the Portfolio Assetsrevenues pledged under the Subordinate Indenture, or unless the Issuer shall first have been adequately indemnified to its satisfaction against the cost, expense, and liability which may be incurred thereby. The Issuer shall not be under any obligation hereunder to perform any administrative service with respect to the Certificates (including, without limitation, record keeping and or to provide any legal services), it being understood that such services related to the Subordinate Bonds or the Subordinate Loan shall be performed or provided by the Trustee or the AdministratorBorrower. The Issuer covenants that it will faithfully perform (to the extent within its reasonable control) at all times any and all covenants, undertakings, stipulations, and provisions expressly contained in this Trust Subordinate Loan Agreement, and the Subordinate Indenture, or in any and every Certificate Bond executed, authenticated authenticated, and delivered under this Trust Agreementthe Subordinate Indenture; provided, however, that the Issuer shall not be obligated to take any action or execute any instrument pursuant to any provision hereof unless and until (i) it shall have (i) been directed requested to do so in writing by the AdministratorGuarantor, the Borrower or the Trustee, or the Majority Owners having the authority to so direct; and (ii) the Issuer shall have received the instrument to be executed, and, at the Issuer’s option, shall have received from the Person requesting such action or execution Borrower assurance satisfactory to the Issuer that the Issuer’s Issuer shall be reimbursed for its expenses incurred or to be incurred in connection with taking such action or executing such instrument have been or will be paid or reimbursed to the Issuer; and (iii) if applicable, received in a timely manner the instrument or document to be executed, in form and substance satisfactory to the Issuerinstrument. (b) In complying with any provision herein, including, but not limited to, any provision requiring the Issuer to “cause” another Person to take or omit any action, the Issuer shall be entitled to rely conclusively (and without independent investigation or verification) (i) on the faithful performance by the Trustee and the Administrator, as the case may be, of their respective obligations hereunder and under the Administration Agreement and (ii) upon any written certification or opinion furnished to the Issuer by the Trustee or the Administrator, as the case may be. In acting, or in refraining from acting, under this Trust Agreement, the Issuer may conclusively rely on the advice of its counsel. The Issuer shall not be required to take any action hereunder that it reasonably believes to be unlawful or in contravention hereof or thereof.

Issuer’s Performance. (a) None of the provisions of this Trust Series 2022A Loan Agreement or the other Issuer Documents Series 2022A Bond Indenture shall require the Issuer to expend or risk its own funds or otherwise to incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers hereunder or thereunder, unless payable from the Portfolio AssetsSeries 2022A Loan Payments and the Trust Estate, or unless the Issuer shall first have been adequately indemnified to its satisfaction against the cost, expense, and liability which may be incurred thereby. The Issuer shall not be under any obligation hereunder to perform any administrative service with respect to the Certificates Series 2022A Bonds or the Projects (including, including without limitation, limitation record keeping and legal services), it being understood that such services shall be performed or provided by the Bond Trustee or the AdministratorBorrower. The Issuer covenants that it will faithfully perform at all times any and all covenants, undertakings, stipulations, and provisions expressly contained in this Trust Series 2022A Loan Agreement, the Series 2022A Bond Indenture, and any and every Certificate Series 2022A Bond executed, authenticated and delivered under this Trust Agreementthe Series 2022A Bond Indenture; provided, however, that the Issuer shall not be obligated to take any action or execute any instrument pursuant to any provision hereof unless and until it shall have (i) been directed to do so in writing by the AdministratorBorrower, the Trustee, Bond Trustee or the Majority Owners Bondholders having the authority to so directdirect and in accordance with the Series 2022A Bond Indenture; (ii) received from the Person requesting such action or execution assurance satisfactory to the Issuer that the Issuer’s expenses incurred or to be incurred in connection with taking such action or executing such instrument have been or will be paid or reimbursed to the Issuer; and (iii) if applicable, received in a timely manner the instrument or document to be executed, in form and substance satisfactory to the Issuer. (b) . In complying with any provision hereinherein or in the Series 2022A Bond Indenture, including, but not limited to, including without limitation any provision requiring the Issuer to “cause” another Person to take or omit any action, the Issuer shall be entitled to rely conclusively (and without independent investigation or verification) ) (i) on the faithful performance by the Bond Trustee and or the AdministratorBorrower, as the case may be, of their respective obligations hereunder and under the Administration Agreement Series 2022A Bond Indenture, and (ii) upon any written certification or opinion furnished to the Issuer by the Bond Trustee or the AdministratorBorrower, as the case may be. In acting, or in refraining from acting, under this Trust AgreementSeries 2022A Loan Agreement or the Series 2022A Bond Indenture, the Issuer may conclusively rely on the advice of its counsel. The Issuer shall not be required to take any action hereunder or under the Series 2022A Bond Indenture that it reasonably believes to be unlawful or in contravention hereof of this Series 2022A Loan Agreement or thereofthe Series 2022A Bond Indenture.