REPRESENTATIONS AND WARRANTIES 48. Section 5.1 Existence, Qualification and Power; Compliance with Laws 48 Section 5.2 Authorization; No Contravention 48 Section 5.3 Governmental Authorization 48 Section 5.4 Binding Effect 48 Section 5.5 Financial Statements; No Material Adverse Effect 48 Section 5.6 Litigation 49 Section 5.7 No Default 49 Section 5.8 Ownership of Property; Liens 49 Section 5.9 Environmental Compliance 49 Section 5.10 Insurance 50 Section 5.11 Taxes 50 Section 5.12 ERISA Compliance 50 Section 5.13 Subsidiaries 50 Section 5.14 Disclosure 51 Section 5.15 Compliance with Laws 51 Section 5.16 Margin Regulations; Investment Company Act. 51 Section 5.17 Collateral Matters 51 Section 5.18 Rights in Collateral; Priority of Liens 51 ARTICLE VI AFFIRMATIVE COVENANTS 51 Section 6.1 Financial Statements 52 Section 6.2 Certificates; Other Information 53 Section 6.3 Notices 54 Section 6.4 Payment of Obligations 55 Section 6.5 Preservation of Existence, Etc 55 Section 6.6 Maintenance of Properties 55 Section 6.7 Maintenance of Insurance 55 Section 6.8 Compliance with Laws 56 Section 6.9 Books and Records 56 Section 6.10 Inspection Rights 56 Section 6.11 Use of Proceeds 56 Section 6.12 Financial Covenants 56 Section 6.13 Additional Borrowers 57 Section 6.14 Collateral Records 57 Section 6.15 Security Interests 57 ARTICLE VII NEGATIVE COVENANTS 58 Section 7.1 Liens 58 Section 7.2 Investments 59 Section 7.3 Indebtedness 60 Section 7.4 Fundamental Changes 60 Section 7.5 Dispositions 61 Section 7.6 Restricted Payments 61 Section 7.7 Change in Nature of Business 62 Section 7.8 Transactions with Affiliates 62 Section 7.9 Margin Regulations 62 Section 7.10 Change of Control 62 Section 7.11 CommerzBank Debt 63 Section 7.12 Change in Legal Name or State of Formation 63
REPRESENTATIONS AND WARRANTIES 48. SECTION 3.1. Representations and Warranties of the Debtor, AmeriCredit and AMC 48 SECTION 3.2. Representations and Warranties of the Servicer 52 ARTICLE IV CONDITIONS PRECEDENT 53 SECTION 4.1. Conditions to Closing 53 ARTICLE V COVENANTS 57 SECTION 5.1. Affirmative Covenants of the Debtor and AmeriCredit 57 SECTION 5.2. Negative Covenants of Debtor, AMC and AmeriCredit 61 SECTION 5.3. Hedging Arrangements 64 SECTION 5.4. Affirmative Covenants of the Servicer 65 SECTION 5.5. Negative Covenants of the Servicer 66 ARTICLE VI TERMINATION AND AMORTIZATION EVENTS; OPTIONAL TERMINATION 67 SECTION 6.1. Termination and Amortization Events 67 SECTION 6.2. Termination 71 SECTION 6.3. Optional Redemption of Note 72 SECTION 6.4. Optional Purchase of All Receivables 72 SECTION 6.5. Proceeds 72 ARTICLE VII THE COLLATERAL AGENT 73 SECTION 7.1. Duties of the Collateral Agent 73 SECTION 7.2. Compensation and Indemnification of Collateral Agent 73 SECTION 7.3. [Intentionally Omitted]. 73 SECTION 7.4. Liability of the Collateral Agent. 74 SECTION 7.5. [Intentionally Omitted]. 76 SECTION 7.6. Limitation on Liability of the Collateral Agent and Others 76 ARTICLE VIII THE SECURITIES INTERMEDIARY 77 SECTION 8.1. Duties of the Securities Intermediary. 77 SECTION 8.2. Representations, Warranties and Covenants of the Securities Intermediary 77 SECTION 8.3. Governing Law for Certain Securities Intermediary Matters 78 ARTICLE IX MISCELLANEOUS 78 SECTION 9.1. Term of Agreement 78 SECTION 9.2. Waivers; Amendments. 78 SECTION 9.3. Notices 79 SECTION 9.4. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial; Integration; Appointment of Agent for Service of Process. 81 SECTION 9.5. Counterparts; Severability 82 SECTION 9.6. Successors and Assigns. 82 SECTION 9.7. Waiver of Confidentiality 82 SECTION 9.8. Confidentiality Agreement 82 SECTION 9.9. No Bankruptcy Petition Against the Purchaser, AMC, or the Debtor 83 SECTION 9.10. Further Assurances 83 SECTION 9.11. Characterization of the Transactions Contemplated by the Agreement; Tax Treatment. 83 SECTION 9.12. Responsibilities of the Debtor 83 SECTION 9.13. Headings 84 SECTION 9.14. Limitation on Liability 84 SECTION 9.15. Binding Effect 84 SECTION 9.16. Effect of Note Insurer Default 84
REPRESENTATIONS AND WARRANTIES 48. 4.1 Organization; Power; Special Purpose Entity 48 4.2 Authority; Enforceability 49 4.3 Ownership of Loan Parties 49 4.4 No Conflict 49 4.5 Consents and Authorizations 49 4.6 Financial Information 50
REPRESENTATIONS AND WARRANTIES 48. Section 4.1. Representations and Warranties of the Borrower 48
REPRESENTATIONS AND WARRANTIES 48. Section 4.1 Representations and Warranties of the SPV and the Initial Servicer 48 ARTICLE V CONDITIONS PRECEDENT 56 Section 5.1 Conditions Precedent to Closing 56 Section 5.2 Conditions Precedent to Initial Investment 57 Section 5.3 Conditions Precedent to All Investments 59 Section 5.4 Reinvestments 59 ARTICLE VI COVENANTS 60
REPRESENTATIONS AND WARRANTIES 48. Section IV.1 Representations and Warranties of the Borrower 48 Article V COVENANTS 53 Section V.1 Affirmative Covenants of the Borrower 53 Section V.2 Negative Covenants of the Borrower 58 Section V.3 Certain Undertakings Relating to Separateness 61
REPRESENTATIONS AND WARRANTIES 48. Section 11.1 Representations and Warranties of the District 48 Section 11.2 Representations and Warranties of Operator 49 CONSTRUCTION, OPERATING AND COOPERATIVE ENDEAVOR AGREEMENT This CONSTRUCTION, OPERATING AND COOPERATIVE ENDEAVOR AGREEMENT (this “Agreement”) is made and dated as of December , 2019 by and between the ASCENSION CONSOLIDATED UTILITIES DISTRICT NO. 2, STATE OF LOUISIANA (the “District”), a political subdivision of the State of Louisiana (the “State”) and ASCENSION SEWER, LLC, a Louisiana limited liability company (the “Operator”). The Operator and the District are sometimes hereinafter referred to individually as a “Party” and together as the “Parties.”
REPRESENTATIONS AND WARRANTIES 48. SECTION 4.01. Representations and Warranties of the Loan Parties 48 ARTICLE V COVENANTS OF THE LOAN PARTIES 56 SECTION 5.01. Affirmative Covenants 56 SECTION 5.02. Negative Covenants 58 SECTION 5.03. Reporting Requirements 66 SECTION 5.04. Financial Covenants 70 ARTICLE VI EVENTS OF DEFAULT 71 SECTION 6.01. Events of Default 71 Section Page
REPRESENTATIONS AND WARRANTIES 48. Section 4.1. Existence; Power 48
REPRESENTATIONS AND WARRANTIES 48. Organization; Powers 48 Authorization; Enforceability 48 Governmental Approvals; No Conflicts 48 Financial Condition; No Material Adverse Change 48 Properties 49 Litigation and Environmental Matters 49 Compliance with Laws and Agreements 50 Investment Company Act Status 50 Taxes 50 ERISA 50 Disclosure 50 Subsidiaries 51 Labor Matters 51 Solvency 51 Margin Securities 51 TABLE OF CONTENTS, Page i of vi Security Documents 52 Use of Proceeds 52 Regulation H 52 Patriot Act 52 ARTICLE IV. CONDITIONS 52 Effective Date 52 Each Credit Event 55
