Reporting of Significant Events. (a) Pursuant to the provisions of this Section 5, the City shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds, in a timely manner not more than ten (10) Business Days after the event:
(1) principal and interest payment delinquencies;
(2) defeasances;
(3) tender offers;
(4) rating changes;
(5) adverse tax opinions or the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax- status of the Bonds;
(6) unscheduled draws on the debt service reserves reflecting financial difficulties;
(7) unscheduled draws on credit enhancements reflecting financial difficulties;
(8) substitution of credit or liquidity providers or their failure to perform; or
(9) bankruptcy, insolvency, receivership or similar proceedings. For these purposes, any event described in the immediately preceding paragraph (9) is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent, or similar officer for the City in a proceeding under the United States Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the City, or if such jurisdiction has been assumed by leaving the existing governing body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement, or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the City.
(b) Pursuant to the provisions of this Section 5, the City shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds, if material:
(1) mergers, consolidations, acquisitions, the sale of all or substantially all of the assets of the obligated persons or their termination;
(2) appointment of a successor or additional trustee or the change of the name of a trustee;
(3) Non-payment related defaults;
(4) modifications to the rights of Holders;
(5) a notices of prepayment; or
(6) release, substitution or sale of property securing repayment of the Bonds.
(c) Whenever the City obtains knowledge of the occurrence of a Listed Event, des...
Reporting of Significant Events. (a) Pursuant to the provisions of this Section 5, each of the following is a Listed Event with respect to the Bonds:
1. Principal and interest payment delinquencies.
2. Non-payment related defaults, if material.
3. Unscheduled draws on debt service reserves reflecting financial difficulties.
4. Unscheduled draws on credit enhancements reflecting financial difficulties.
5. Substitution of credit or liquidity providers, or their failure to perform.
6. Adverse tax opinions, the issuance by the IRS of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the Bonds, or other material events affecting the tax status of the Bonds. material.
7. Modifications to rights of Owners, if material.
8. Xxxx calls, if material, and tender offers.
Reporting of Significant Events. Unless otherwise required by the Securities and Exchange Commission, pursuant to the provisions of this Section 5, the County shall give, or cause to be given, to the Repositories, notice of the occurrence of any of the following events with respect to the Certificates, within ten (10) business days of the occurrence thereof:
1. Principal and interest payment delinquencies;
2. Non-payment related defaults, if material;
3. Unscheduled draws on debt service reserves reflecting financial difficulties;
4. Unscheduled draws on credit enhancements reflecting financial difficulties;
5. Substitution of credit or liquidity providers, or their failure to perform;
6. Adverse tax opinions, IRS notices or events affecting the tax status of the Certificates;
7. Modifications to rights of the holders of the Certificates, if material;
8. Certificate calls, if material;
9. Defeasances;
10. Release, substitution or sale of property securing repayment of the Certificates, if material;
11. Rating changes;
12. Tender offers;
13. Bankruptcy, insolvency, receivership or similar event of the obligated person;
14. Merger, consolidation, or acquisition of the obligated person, if material;
15. Appointment of a successor or additional trustee, or the change of name of a trustee, if material.
Reporting of Significant Events. (a) Pursuant to the provisions of this Section 5, the County shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds, if material:
1. Principal and interest payment delinquencies;
2. Non-payment related defaults;
3. Unscheduled draws on debt service reserves reflecting financial difficulties;
4. Unscheduled draws on credit enhancements reflecting financial difficulties;
5. Substitution of credit or liquidity providers, or their failure to perform;
6. Adverse tax opinions or events affecting the tax-exempt status of the Bonds;
7. Modifications to rights of Bond holders;
8. Unscheduled or contingent Bond calls;
9. Defeasances;
10. Release, substitution, or sale of property securing repayment of the Bonds;
11. Rating changes.
(b) The Trustee shall, within one (1) Business Day or as soon as reasonably practicable thereafter of obtaining actual knowledge of the occurrence of any of the Listed Events, contact the Disclosure Representative, inform such person of the event, and request that the County promptly notify the Dissemination Agent in writing whether or not to report the event pursuant to subsection (f) and promptly direct the Trustee whether or not to report such event to the Holders. In the absence of such direction, the Trustee shall not report such event unless otherwise required to be reported by the Trustee to the Holders under the Trust Agreement. The Trustee may conclusively rely upon such direction (or lack thereof). For purposes of this Disclosure Agreement, “actual knowledge” of the occurrence of such Listed Events shall mean actual knowledge by the officer at the corporate trust office of the Trustee with regular responsibility for the administration of matters related to the Trust Agreement. The Trustee shall have no responsibility to determine the materiality of any of the Listed Events.
(c) Whenever the County obtains knowledge of the occurrence of a Listed Event, whether because of a notice from the Trustee pursuant to subsection (b) or otherwise, the County shall as soon as possible determine if such event would be material under applicable federal securities laws.
(d) If the County determines that knowledge of the occurrence of a Listed Event would be material under applicable federal securities laws, the County shall promptly notify the Dissemination Agent in writing. Such notice shall instruct the Dissemination Agent to report the occurrence pursuant to subsection (f).
(e) If ...
Reporting of Significant Events. (a) Pursuant to this Section each Community College District shall give, or cause to be given, notice of the occurrence of any of the following events with respect to its Note or the Note Participations, in a timely manner not in excess of 10 Business Days after the occurrence of the event, pursuant to subsection (g) hereto:
(i) principal and interest payment delinquencies.
(ii) tender offers.
(iii) defeasances.
(iv) rating changes.
(v) adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, or Notices of Proposed Issue (IRS Form 5701-TEB).
(vi) unscheduled draws on the debt service reserves reflecting financial difficulties. difficulties.
(vii) unscheduled draws on credit enhancement reflecting financial perform.
(viii) substitution of the credit or liquidity providers or their failure to
(ix) bankruptcy, insolvency, receivership or similar event of the Community College District. For the purposes of the event identified in this Section 11.03(a)(ix), the event is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer for the Community College District in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the Community College District, or if such jurisdiction has been assumed by leaving the existing governmental body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the Community College District.
(x) default, event of acceleration, termination event, modification of terms, or other similar events under the terms of a Financial Obligation, any of which reflect financial difficulties.
(b) Pursuant to the provisions of this Section 11.03(b), each Community College District shall give, or cause to be given, notice of the occurrence of any of the following events, in a timely manner not in excess of 10 Business Days following the occurrence thereof, with respect to its Note or the Note Participations, if material:
(i) non-payment related defaults.
(ii) modifications to rights of Noteholders.
(iii)...
Reporting of Significant Events. (a) Pursuant to the provisions of this Section 5, the Successor Agency shall give, or shall cause the Dissemination Agent to give, notice of the occurrence of any of the following events with respect to the Bonds in a timely manner not more than ten (10) Business Days after the event:
1. Principal and interest payment delinquencies.
2. Unscheduled draws on debt service reserves reflecting financial difficulties.
3. Unscheduled draws on credit enhancements reflecting financial difficulties.
4. Substitution of credit or liquidity providers, or their failure to perform.
5. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability or Notices of Proposed Issue (IRS Form 5701 TEB).
6. Tender offers.
Reporting of Significant Events. Whenever a key officer of the Owner obtains actual knowledge of the occurrence of one or more of the following events, the Owner shall contact the Administrator who shall immediately report such event to the Registrar and Paying Agent, the City and the Construction Lender as set forth herein:
(i) failure to pay any real property taxes (including the Special Assessments) levied within the Development on a parcel owned by the Owner, the Developer, the Landowner or any affiliate thereof;
(ii) material damage to or destruction of any development or improvements within the Development;
(iii) material default by the Owner, the Developer or any affiliate thereof on any loan with respect to the construction or permanent financing of the Development;
(iv) material default by the Owner, the Developer, or any affiliate thereof on any loan secured by property within the Development owned or leased by the Owner and the Developer or any affiliate thereof;
(v) the filing in bankruptcy by the Owner, the Developer or any affiliate thereof, or by any owner of more than 25% in interest in the Owner or the Developer, or any determination that the Owner, the Developer or any affiliate thereof, or an owner of more than 25% in interest in the Owner or the Developer is unable to pay its debts as they become due; and
(vi) the filing of any lawsuit with claim for damages in excess of $1,000,000 against the Owner, the Developer or the Landowner which may adversely affect the completion of the Development or litigation in excess of $1,000,000 which would materially adversely affect the financial condition of the Owner, the Developer or the Landowner.
Reporting of Significant Events. In accordance with the provisions of this Section 5, the Dissemination Agent shall file notice of any failure of the Borrower to comply with Section 3 hereof and the Borrower shall file, or shall cause the Dissemination Agent to file, notice of the occurrence of any of the following events with respect to the Bonds, if material, within the meaning of the Securities Exchange Act of 1934, as the same may be amended from time to time, with the MSRB and with each Repository:
1. principal or interest payment delinquencies;
2. non-payment related defaults;
3. unscheduled draws on debt service reserves reflecting financial difficulties;
4. unscheduled draws on credit enhancements reflecting financial difficulties;
5. substitution of credit or liquidity providers, or their failure to perform;
6. adverse tax opinions or events affecting the tax-exempt status of the Bonds;
7. modifications to rights of the holders (including Beneficial Owners) of the Bonds;
8. Bond calls;
9. defeasances;
10. release, substitution, or sale of property securing repayment of the Bonds; and
Reporting of Significant Events. (a) Pursuant to this Section each Local Agency shall give, or cause to be given, notice of the occurrence of any of the following events with respect to its Note or the Note Participations, in a timely manner not in excess of 10 Business Days after the occurrence of the event, pursuant to subsection (g) hereto:
(i) principal and interest payment delinquencies.
(ii) tender offers.
(iii) defeasances.
(iv) rating changes.
(v) adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, or Notices of Proposed Issue (IRS Form 5701-TEB).
(vi) unscheduled draws on the debt service reserves reflecting financial difficulties. difficulties. perform.
(vii) unscheduled draws on credit enhancement reflecting financial
(viii) substitution of the credit or liquidity providers or their failure to
(ix) bankruptcy, insolvency, receivership or similar event of the Local Agency. For the purposes of the event identified in this Section 11.03(a)(ix), the event is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer for the Local Agency in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the Local Agency, or if such jurisdiction has been assumed by leaving the existing governmental body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the Local Agency.
(x) default, event of acceleration, termination event, modification of terms, or other similar events under the terms of a Financial Obligation, any of which reflect financial difficulties.
(b) Pursuant to the provisions of this Section 11.03(b), each Local Agency shall give, or cause to be given, notice of the occurrence of any of the following events, in a timely manner not in excess of 10 Business Days following the occurrence thereof, with respect to its Note or the Note Participations, if material:
(i) non-payment related defaults.
(ii) modifications to rights of Noteholders.
(iii) optional, contingent or unscheduled bond calls.
(iv) unless described under Section...
Reporting of Significant Events. (a) Pursuant to the provisions of this Section 4, the District shall give an Officer’s Certificate including notice of the occurrence of any of the following events with respect to the Bonds, if material:
1. Principal and interest payment delinquencies.
2. Non-payment related defaults.
3. Modifications to rights of Bondholders.
4. Optional, contingent or unscheduled Bond calls.
