Common use of Non-Liability of Authority Clause in Contracts

Non-Liability of Authority. The Authority shall not be obligated to pay 2022 Purchase Payments. Neither the faith and credit nor the taxing power of the City, the State or any political subdivision thereof is pledged to the payment of the principal, premium or interest with respect to the 2022 Bonds. The City hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal of, premium, if any, and interest on the 2022 Bonds as the same shall become due (whether at maturity, by redemption or otherwise), then upon notice from the Trustee, the City shall, subject to Section 5.04 hereof, pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal, premium or interest, including but not limited to any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the City, the Authority or any third party. None of the City, the Trustee or the Owners shall have any right to compel the Authority to pay Principal Components or Interest Components of 2022 Purchase Payments or prepayment premiums with respect to the 2022 Bonds, if any, except in each case to the extent the Authority has received such amounts from the City.

Non-Liability of Authority. The Authority shall not be obligated to pay 2022 2024-A Purchase Payments. Neither the faith and credit nor the taxing power of the City, the State or any political subdivision thereof is pledged to the payment of the principal, premium or interest with respect to the 2022 2024-A Bonds. The City hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal of, premium, if any, and interest on the 2022 2024-A Bonds as the same shall become due (whether at maturity, by redemption or otherwise), then upon notice from the Trustee, the City shall, subject to Section 5.04 hereof, pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal, premium or interest, including but not limited to any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the City, the Authority or any third party. None of the City, the Trustee or the Owners shall have any right to compel the Authority to pay Principal Components or Interest Components of 2022 2024-A Purchase Payments or prepayment premiums with respect to the 2022 2024-A Bonds, if any, except in each case to the extent the Authority has received such amounts from the City.

Non-Liability of Authority. The Authority shall not be obligated to pay 2022 2014-A Purchase Payments. Neither the faith and credit nor the taxing power of the City, the State or any political subdivision thereof is pledged to the payment of the principal, premium or interest with respect to the 2022 2014-A Bonds. The City hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal of, premium, if any, and interest on the 2022 2014-A Bonds as the same shall become due (whether at maturity, by redemption or otherwise), then upon notice from the Trustee, the City shall, subject to Section 5.04 hereof, pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal, premium or interest, including but not limited to any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the City, the Authority or any third party. None of the City, the Trustee or the Owners shall have any right to compel the Authority to pay Principal Components or Interest Components of 2022 2014-A Purchase Payments or prepayment premiums with respect to the 2022 2014-A Bonds, if any, except in each case to the extent the Authority has received such amounts from the City.

Non-Liability of Authority. The Authority shall not be obligated to pay 2022 2020 Purchase Payments. Neither the faith and credit nor the taxing power of the City, the State or any political subdivision thereof is pledged to the payment of the principal, premium or interest with respect to the 2022 2020 Bonds. The City hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal of, premium, if any, and interest on the 2022 2020 Bonds as the same shall become due (whether at maturity, by redemption or otherwise), then upon notice from the Trustee, the City shall, subject to Section 5.04 hereof, pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal, premium or interest, including but not limited to any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the City, the Authority or any third party. None of the City, the Trustee or the Owners shall have any right to compel the Authority to pay Principal Components or Interest Components of 2022 2020 Purchase Payments or prepayment premiums with respect to the 2022 2020 Bonds, if any, except in each case to the extent the Authority has received such amounts from the City.

Non-Liability of Authority. The Authority shall not be obligated to pay 2022 2009-A Purchase Payments. Neither the faith and credit nor the taxing power of the City, the State or any political subdivision thereof is pledged to the payment of the principal, premium or interest with respect to the 2022 2009-A Bonds. The City hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal of, premium, if any, and interest on the 2022 2009-A Bonds as the same shall become due (whether at maturity, by redemption or otherwise), then upon notice from the Trustee, the City shall, subject to Section 5.04 hereof, pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal, premium or interest, including but not limited to any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the City, the Authority or any third party. None of the City, the Trustee or the Owners shall have any right to compel the Authority to pay Principal Components or Interest Components of 2022 2009-A Purchase Payments or prepayment premiums with respect to the 2022 2009-A Bonds, if any, except in each case to the extent the Authority has received such amounts from the City.

Non-Liability of Authority. The Authority shall not be obligated to pay 2022 2016 Purchase Payments. Neither the faith and credit nor the taxing power of the City, the State or any political subdivision thereof is pledged to the payment of the principal, premium or interest with respect to the 2022 2016 Bonds. The City hereby agrees that if the payments to be made hereunder shall ever prove insufficient to pay all principal of, premium, if any, and interest on the 2022 2016 Bonds as the same shall become due (whether at maturity, by redemption or otherwise), then upon notice from the Trustee, the City shall, subject to Section 5.04 hereof, pay such amounts as are required from time to time to prevent any deficiency or default in the payment of such principal, premium or interest, including but not limited to any deficiency caused by acts, omissions, nonfeasance or malfeasance on the part of the Trustee, the City, the Authority or any third party. None of the City, the Trustee or the Owners shall have any right to compel the Authority to pay Principal Components or Interest Components of 2022 2016 Purchase Payments or prepayment premiums with respect to the 2022 2016 Bonds, if any, except in each case to the extent the Authority has received such amounts from the City.