Common use of Performance of Covenants; Authority Clause in Contracts

Performance of Covenants; Authority. The Authority covenants that it will faithfully perform and observe at all times any and all covenants, undertakings, stipulations, and provisions contained in the Authorizing Resolution, this Agreement, the 2016 Senior Note, the other Senior Financing Documents and all its proceedings pertaining thereto as though such covenants, undertakings, stipulations, and provisions were set forth in full herein (for the purpose of this provision the Senior Financing Documents shall be deemed to continue in full force and effect notwithstanding any earlier termination thereof so long as any obligation of the Authority under this Agreement shall be unpaid or unperformed). The Authority covenants, represents, warrants and agrees that it is duly authorized under the constitution and laws of the State of Colorado, including, particularly and without limitation, the Act, to incur the 2016 Senior Loan and to execute and deliver the 2016 Senior Note, this Agreement, and the other Senior Financing Documents, and to pledge the Senior Pledged Revenue and the Senior Pledged Collateral in the manner and to the extent herein and in the Custodial Agreement set forth, and that all action on its part for the incurrence of the 2016 Senior Loan and the execution and delivery of the 2016 Senior Note, this Agreement, and the other Senior Financing Documents and the pledge of the Senior Pledged Revenue and Senior Pledged Collateral in the manner and to the extent herein and in the Custodial Agreement set forth, has been duly and effectively taken and will be duly taken as provided herein, and that the 2016 Senior Loan, the 2016 Senior Note, this Agreement,

Performance of Covenants; Authority. The Authority covenants that it will faithfully perform and observe at all times any and all covenants, undertakings, stipulations, and provisions contained in the Authorizing Resolution, this Agreement, the 2016 2020 Senior Note, the other Senior Financing Documents and all its proceedings pertaining thereto as though such covenants, undertakings, stipulations, and provisions were set forth in full herein (for the purpose of this provision the Senior Financing Documents shall be deemed to continue in full force and effect notwithstanding any earlier termination thereof so long as any obligation of the Authority under this Agreement shall be unpaid or unperformed). The Authority covenants, represents, warrants and agrees that it is duly authorized under the constitution and laws of the State of Colorado, including, particularly and without limitation, the Act, to incur the 2016 2020 Senior Loan and to execute and deliver the 2016 2020 Senior Note, this Agreement, and the other Senior Financing Documents, and to pledge the Senior Pledged Revenue and the Senior Pledged Collateral in the manner and to the extent herein and in the Custodial Agreement set forth, and that all action on its part for the incurrence of the 2016 2020 Senior Loan and the execution and delivery of the 2016 2020 Senior Note, this Agreement, and the other Senior Financing Documents and the pledge of the Senior Pledged Revenue and Senior Pledged Collateral in the manner and to the extent herein and in the Custodial Agreement set forth, has been duly and effectively taken and will be duly taken as provided herein, and that the 2016 2020 Senior Loan, the 2016 2020 Senior Note, this Agreement,, and the other Financing Documents are and will be valid and enforceable obligations of the Authority according to the terms hereof and thereof.

Performance of Covenants; Authority. The Authority covenants that it will faithfully perform and observe at all times any and all covenants, undertakings, stipulations, and provisions contained in the Authorizing Resolution, this Agreement, the 2016 Senior Note, the other Senior Financing Documents and all its proceedings pertaining thereto as though such covenants, undertakings, stipulations, and provisions were set forth in full herein (for the purpose of this provision the Senior Financing Documents shall be deemed to continue in full force and effect notwithstanding any earlier termination thereof so long as any obligation of the Authority under this Agreement shall be unpaid or unperformed). The Authority covenants, represents, warrants and agrees that it is duly authorized under the constitution and laws of the State of Colorado, including, particularly and without limitation, the Act, to incur the 2016 Senior Loan and to execute and deliver the 2016 Senior Note, this Agreement, and the other Senior Financing Documents, and to pledge the Senior Pledged Revenue and the Senior Pledged Collateral in the manner and to the extent herein and in the Custodial Agreement set forth, and that all action on its part for the incurrence of the 2016 Senior Loan and the execution and delivery of the 2016 Senior Note, this Agreement, and the other Senior Financing Documents and the pledge of the Senior Pledged Revenue and Senior Pledged Collateral in the manner and to the extent herein and in the Custodial Agreement set forth, has been duly and effectively taken and will be duly taken as provided herein, and that the 2016 Senior Loan, the 2016 Senior Note, this Agreement,the

Performance of Covenants; Authority. The Authority covenants that it will faithfully perform and observe on its part at all times any and all covenants, undertakings, stipulations, stipulations and provisions contained in the Authorizing Resolutionthis Indenture, this Agreementin any and every Bond executed, the 2016 Senior Note, the other Senior Financing Documents authenticated and delivered hereunder and in all of its proceedings pertaining thereto as though such covenantsthereto; provided, undertakingshowever, stipulations, and provisions were that except for the matters set forth in full herein (for any documents hereof relating to payment of the purpose of this Bonds, the Authority shall not be obligated to take any action or execute any instrument pursuant to any provision hereof until it shall have been requested to do so by the Senior Financing Documents Borrower or by the Trustee, or shall have received the instrument to be deemed to continue in full force executed and effect notwithstanding any earlier termination thereof so long as any obligation at the option of the Authority under this Agreement shall have received from the party requesting such action or execution assurance satisfactory to the Authority that the Authority shall be unpaid reimbursed for its reasonable expenses, including legal counsel fees, incurred or unperformed)to be incurred in connection with taking such action or executing such instrument. The Authority covenants, represents, warrants and agrees covenants that it is duly authorized under the constitution Constitution and the laws of the State State, including particularly the Act and the resolution of Colorado, including, particularly and without limitation, the ActAuthority authorizing the issuance of the Bonds, to incur issue the 2016 Senior Loan Bonds authorized hereby and to execute this Indenture, to grant the security interest herein provided, to assign and deliver pledge the 2016 Senior Note, this Agreement, Loan Agreement and the other Senior Financing Documents, Note (except as otherwise provided herein) and to assign and pledge the Senior Pledged Revenue amounts hereby assigned and the Senior Pledged Collateral pledged in the manner and to the extent herein and in the Custodial Agreement set forth, and that all action on its part for the incurrence issuance of the 2016 Senior Loan Bonds and the execution and delivery of the 2016 Senior Note, this Agreement, and the other Senior Financing Documents and the pledge of the Senior Pledged Revenue and Senior Pledged Collateral in the manner and to the extent herein and in the Custodial Agreement set forth, Indenture has been duly and effectively taken and will be duly taken as provided hereintaken, and that the 2016 Senior LoanBonds in the hands of the owners thereof are and will be valid and enforceable obligations of the Authority according to the terms thereof and hereof. Anything contained in this Indenture to the contrary notwithstanding, it is hereby understood that none of the 2016 Senior Note, covenants of the Authority contained in this Agreement,Indenture are intended to create a general or primary obligation of the Authority.