Laserfiche WebLink
Facility, and the provisions relating to the payment of draws on, and reinstatement of amounts <br /> that may be drawn under, such Credit Facility, and will not consent to, agree to or permit any <br /> amendment or modification of such Credit Facility which would materially adversely affect the <br /> rights or security of the Registered Owners of the Bonds then so secured. The Bond Registrar <br /> shall be entitled to rely on a written opinion of counsel or an officer's certificate as to whether <br /> such an amendment or modification of the Credit Facility would materially adversely affect the <br /> rights or security of such Registered Owners. If at any time during the term of a Credit Facility <br /> any successor Bond Registrar shall be appointed and qualified under this ordinance, the resigning <br /> or removed Bond Registrar shall request that the Credit Facility Provider transfer such Credit <br /> Facility to the successor Bond Registrar. If the resigning or removed Bond Registrar fails to <br /> make this request, the successor Bond Registrar shall do so and shall delay accepting <br /> appointment hereunder until the Credit Facility Provider assents to such request. When a Credit <br /> Facility expires in accordance with its terms, is terminated by the City or is replaced by an <br /> Alternate Credit Facility, the Bond Registrar shall immediately surrender such Credit Facility to <br /> the Credit Facility Provider, provided, however, that the Bond Registrar shall not surrender such <br /> Credit Facility until all draws permitted upon such Credit Facility in accordance with its terms <br /> and as required hereby shall have been funded. All provisions herein relating to the rights of any <br /> Credit Facility Provider shall be of no force and effect if there is no Credit Facility in effect and <br /> all amounts payable to the Credit Facility Provider under the Credit Facility Agreement have <br /> been satisfied. <br /> (b) While a Credit Facility is in effect, the Bond Registrar shall draw on the Credit <br /> Facility in accordance with the terms thereof so as to receive thereunder by 1:00 p.m., New York <br /> City time, on each Interest Payment Date and principal payment date, an amount, in immediately <br /> -87- P 120287 CM1M20287 AMT 10/14/14 <br />