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(16) Default, event of acceleration, termination event, modification of terms, or <br /> other similar events under the terms of a financial obligation of the City, <br /> any of which reflect financial difficulties. <br /> The term "financial obligation" means a (i) debt obligation; (ii) derivative instrument entered <br /> into in connection with, or pledged as security or a source of payment for, an existing or planned <br /> debt obligation; or (iii) guarantee of(i) or (ii). The term "financial obligation" shall not include <br /> municipal securities as to which a final official statement has been provided to the MSRB <br /> consistent with the Rule. <br /> Solely for purposes of information, and not intending to modify this undertaking, the City <br /> advises that there is no property securing repayment of the Bonds. <br /> (d) Notification Upon Failure to Provide Financial Data. In addition to the filing of <br /> notices as required by subsection (c) the City agrees to provide or cause to be provided, in a <br /> timely manner, to the MSRB, if any, notice of its failure to provide the annual financial <br /> information described in subsection (b) above on or prior to the date set forth in subsection(b) <br /> above. <br /> (e) EMMA; Format for Filings with the MSRB. Until otherwise designated by the <br /> MSRB or the Commission, any information or notices submitted to the MSRB in compliance <br /> with the Rule are to be submitted through EMMA. All notices, financial information and <br /> operating data required by this undertaking to be provided to the MSRB must be in an electronic <br /> format as prescribed by the MSRB. All documents provided to the MSRB pursuant to this <br /> undertaking must be accompanied by identifying information as prescribed by the MSRB. <br /> (0 Termination/Modification. The City's obligations to provide annual financial <br /> information and notices of listed events shall terminate upon the defeasance, prior redemption or <br /> payment in full of all of the Bonds. This section, or any provision hereof, shall be null and void <br /> if the City (1) obtains an opinion of nationally recognized bond counsel to the effect that those <br /> -29- 502395238 v2 <br />