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<br />r I <br /> <br />(e) The Underwriter shall have the right to terminate their obligations under this <br />Bond Purchase Agreement to purchase, accept delivery of and pay for the Bonds by <br />notifying the Authority and the City of its election to do so if, after the execution hereof <br />and prior to the Closing, regardless of whether any of the following statements of fact <br />were in existence or known of on the date of this Bond Purchase Agreement: <br /> <br />(i) the marketability of the Bonds or the market price thereof, in the <br />opinion of the Underwriter, has been materially adversely affected by an <br />. amendment to the Constitution of the United States or the State or by any federal <br />or State legislation or the promulgation of any rule or regulation thereunder or by <br />any decision of any federal or State court or by any ruling or regulation (final, <br />temporary or proposed) by or on behalf of the Treasury Department of the United <br />States, the Internal Revenue Service or other federal or State authority, affecting <br />(1) the tax status of the Authority or the City, its property or income or its <br />obligations (including the Bonds) or (2) the tax status of the interest on the Bonds <br />or (3) any tax exemption granted or authorized by any other law or (4) the validity <br />of the Bonds, the Authority Resolution, the Installment Purchase Agreement, the <br />Indenture, the Escrow Agreement, the Continuing Disclosure Certificate or the <br />City Resolution; or <br /> <br />(ii) the United States shall have become engaged in hostilities which <br />have resulted in a declaration of war, or a national emergency (including, but not <br />lirnited to, acts of terrorism) or the President of the United States of America shall <br />have committed the armed forces of the United States of America to combat so as <br />to adversely affect the financial markets in the United States of America and in <br />the reasonable opinion of the Underwriter materially adversely affects the market <br />for the Bonds; or <br /> <br />(iii) there shall have occurred a general suspension of trading on the <br />New York Stock Exchange or the declaration of a general banking moratorium <br />shall have been declared by the United States, New York State or State authorities <br />having jurisdiction and being in force; or <br /> <br />(iv) there shall have occurred any material adverse change in the <br />condition, financial or otherwise, or in the results of operations of the Authority or <br />City which in the reasonable opinion of the Underwriter materially adversely <br />affects the market for the Bonds; or <br /> <br />(v) legislation shall have been enacted or actively considered for <br />enactment or introduced, with an effective date prior to the Closing Date, or a <br />decision by a court of the United States shall be made, the effect of which is that <br />the offering or sale of the Bonds as contemplated herein is or would be in <br />violation of the registration, qualification or other requirements of the Securities <br />Act of 1933, as amended and as then in effect, the Securities Exchange Act of <br />1934, as amended and as then in effect, or the Trust Indenture Act of 1939, as <br />amended and as then in effect; or <br /> <br />11 <br />