Laserfiche WebLink
The Indenture and the rights and obligations of the Authority and of the Owners may also be amended <br /> at any time by a Supplemental Indenture which shall become binding upon adoption without the consent of any <br /> Owners, but only to the extent permitted by law and after receipt of an Approving Opinion Counsel and only for <br /> any one or more of the following purposes - <br /> (a) to make such provisions for the purpose of curing any ambiguity or of <br /> correcting,curing or supplementing any defective provision contained in the Indenture or in regard to <br /> questions arising under the Indenture which the Authority may deem desirable or necessary and not <br /> inconsistent therewith and which shall not adversely affect the interests of the Owners or the Bond <br /> Insurer; <br /> (b) to make any other change or addition thereto which shall not materially adversely <br /> affect the interests of the Owners or the Bond Insurer, or to surrender any right of power reserved <br /> therein to or conferred therein on the Authority; <br /> (c) to credit a Qualified Reserve Instrument to the Reserve Account; or <br /> (d) to provide for the issuance of Additional Bonds. <br /> Notwithstanding any other provision in the Indenture, any provision of the Indenture expressly <br /> recognizing or granting rights in or to the Bond Insurer may not be amended in any manner which affects the <br /> rights of the Bond Insurer hereunder without the prior written consent of the Bond Insurer. a copy of any <br /> amendment of the Indenture which is consented to by the Bond Insurer shall be delivered by the Trustee to <br /> Standard & Poor's Ratings Group as soon as practicable after the execution and delivery of such amendment. <br /> Discharge of Liability on Bonds <br /> If the Authority shall pay or cause to be paid or there shall otherwise be paid to the Owners of all <br /> Outstanding Bonds the interest thereon and the principal thereof and the redemption premiums, if any, thereon <br /> at the times and in the manner stipulated in the Indenture and in the Bonds, then the Owners of such Bonds shall <br /> cease to be entitled to the pledge of the Revenues as provided in the Indenture, and all agreements, covenants <br /> and other obligations of the Authority to the Owners of such Bonds thereunder shall thereupon cease, terminate <br /> and become void and be discharged and satisfied. In such event, the Trustee shall execute and deliver to the <br /> Authority all such instruments as may be necessary or desirable to evidence such discharge and satisfaction, and <br /> the Trustee shall pay over or deliver to the Authority all money or securities held by it pursuant hereto which <br /> are not required for the payment of the interest on and principal of and redemption premiums, if any, on such <br /> Bonds, or for any remaining fees and expenses of the Trustee. <br /> Subject to the provisions of the above paragraph, when any of the Bonds shall have been paid and if, at <br /> the time of such payment, the Authority shall have kept, performed and observed all the covenants and promises <br /> in such Bonds and in the Indenture required or contemplated to be kept, performed and observed by the <br /> Authority or on its part on or prior to that time, then the Indenture shall be considered to have been discharged <br /> in respect of such Bonds and such Bonds shall cease to be entitled to the lien of the Indenture and such lien and <br /> all covenants, agreements and other obligations of the Authority hereunder shall cease,terminate become void <br /> and be completely discharged as to such Bonds. <br /> Notwithstanding the satisfaction and discharge of the Indenture or the discharge of the Indenture in <br /> respect of any Bonds, those provisions of the Indenture relating to the maturity of the Bonds, interest payments <br /> and dates thereof, tender and exchange provisions, exchange and transfer of Bonds, replacement of mutilated, <br /> destroyed, lost or stolen Bonds, the safekeeping and cancellation of Bonds, nonpresentment of Bonds, and the <br /> duties of the Trustee in connection with all of the foregoing, remain in effect and shall be binding upon the <br /> Trustee and the Owners of the Bonds and the Trustee shall continue to be obligated to hold in trust any moneys <br /> or investments then held by the Trustee for the payment of the principal of, redemption premium, if any, and <br /> A-17 <br />