Common use of Event Notices Clause in Contracts

Event Notices. The Transportation Board will submit, or cause the Dissemination Agent (if not the Transportation Board) to submit, in a timely manner not in excess of ten business days after the occurrence of the event, to the MSRB, notice of the occurrence of any of the following events (listed in subsection (b)(5)(i)(c) of the Rule) with respect to the Bonds to which the Transportation Board has actual knowledge: (1) Principal and interest payment delinquencies; (2) Non-payment related defaults, if material; (3) Unscheduled draws on debt service reserves reflecting financial difficulties;‌‌ (4) Unscheduled draws on credit enhancements reflecting financial difficulties; (5) Substitution of credit or liquidity providers, or their failure to perform; (6) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701 – TEB) or other material notices or determinations with respect to the tax status of the Bonds, or other material events affecting the tax status of the Bonds; (7) Modifications to rights of Holders of the Bonds, if material; (8) Bond calls, if material, and tender offers; (9) Defeasances; (10) Release, substitution, or sale of property securing repayment of the Bonds, if material; (11) Rating changes; (12) Bankruptcy, insolvency, receivership or similar event of the Transportation Board;∗‌ (13) The consummation of a merger, consolidation, or acquisition involving the Transportation Board or the sale of all or substantially all of the assets of the Transportation Board, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and (14) Appointment of a successor or additional trustee or the change of name of a trustee, if material. The Transportation Board does not undertake to provide the above-described notice in the event of a mandatory, scheduled redemption, not otherwise contingent upon the occurrence of an event, if (i) the terms, dates and amounts of redemption are set forth in detail in the Official Statement for the Bonds, (ii) the only open issue is when Bonds will be redeemed in the case of a partial redemption, (iii) notice of redemption is given to the Holders under the terms of the Indenture and (iv) public notice of the redemption is given pursuant to Release No. 34-23856 of the Securities and Exchange Commission, even if the originally scheduled amounts may be reduced by prior optional redemption or Bond purchases.

Event Notices. The Transportation Board will submitCity shall notify the MSRB, or cause in an electronic format as prescribed by the Dissemination Agent (if not the Transportation Board) to submitMSRB, in a timely manner not in excess of ten (10) business days after the occurrence of the event, to the MSRB, notice of the occurrence of any of the following events (listed in subsection (b)(5)(i)(c) of the Rule) with respect to the Bonds to which the Transportation Board has actual knowledgeSeries 2021 Bonds: (1i) Principal principal and interest payment delinquencies; (2ii) Nonnon-payment related defaults, if material; (3iii) Unscheduled unscheduled draws on debt service reserves reflecting financial difficulties;‌‌difficulties; (4iv) Unscheduled unscheduled draws on credit enhancements reflecting financial difficulties; (5v) Substitution substitution of credit or liquidity providers, or their failure to perform; (6vi) Adverse adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701 – 5701-TEB) or other material notices or determinations with respect to the tax status of the Series 2021 Bonds, or other material events affecting the tax status of the Series 2021 Bonds; (7vii) Modifications modifications to rights of Holders the holders of the Series 2021 Bonds, if material; (8) Bond viii) bond calls, if material, and tender offers; (9ix) Defeasancesdefeasances; (10x) Releaserelease, substitution, or sale of property securing repayment of the Series 2021 Bonds, if material; (11xi) Rating rating changes; (12xii) Bankruptcybankruptcy, insolvency, receivership or similar event of the Transportation Board;∗‌City; (13xiii) The the consummation of a merger, consolidation, or acquisition involving the Transportation Board City or the sale of all or substantially all of the assets of the Transportation Boardits assets, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and; (14xiv) Appointment appointment of a successor or additional trustee paying agent/registrar or the change of name of a trusteepaying agent/registrar, if material. The Transportation Board does not undertake ; (xv) incurrence of a Financial Obligation of the Obligated Person, if material, or agreement to provide covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation of the above-described notice in the Obligation Person, any of which affect security holders, if material; and (xvi) default, event of a mandatoryacceleration, scheduled redemption, not otherwise contingent upon the occurrence of an termination event, if (i) the modification of terms, dates and amounts of redemption are set forth in detail in the Official Statement for the Bonds, (ii) the only open issue is when Bonds will be redeemed in the case of a partial redemption, (iii) notice of redemption is given to the Holders or other similar event under the terms of the Indenture and (iv) public notice a Financial Obligation of the redemption is given pursuant to Release No. 34-23856 of the Securities Obligated Person, and Exchange Commission, even if the originally scheduled amounts may be reduced by prior optional redemption or Bond purchaseswhich reflect financial difficulties.

Event Notices. The Transportation Board will submitAs used in this Section, the term “obligated person” shall mean any person, including the Company, who is either generally or through an enterprise, fund, or cause account of such person committed by contract or other arrangement to support payment of all or part of the Dissemination Agent obligations on the Series 2025A Bonds (if not other than any providers of municipal bond insurance, letters of credit, or other liquidity facilities). The Company shall provide notice of any of the Transportation Board) following events with respect to submitthe Series 2025A Bonds to the MSRB, in an electronic format as prescribed by the MSRB, in a timely manner and not in excess of more than ten business days (10) Business Days after the occurrence of the event, to the MSRB, notice of the occurrence of any of the following events (listed in subsection (b)(5)(i)(c) of the Rule) with respect to the Bonds to which the Transportation Board has actual knowledge: (1i) Principal principal and interest payment delinquencies; (2ii) Non-payment nonpayment related defaults, if material; (3iii) Unscheduled unscheduled draws on debt service reserves reflecting financial difficulties;‌‌difficulties; (4iv) Unscheduled unscheduled draws on credit enhancements reflecting financial difficulties; (5v) Substitution substitution of credit or liquidity providers, or their failure to perform; (6vi) Adverse adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701 – 5701-TEB) or other material notices or determinations with respect to the tax status of the Series 2025A Bonds, or other material events affecting the tax status of the Series 2025A Bonds; (7vii) Modifications modifications to rights of Holders of the BondsBondholders, if material; (8) Bond viii) ▇▇▇▇ calls, if material, material and tender offers; (9ix) Defeasancesdefeasances; (10x) Releaserelease, substitution, or sale of property securing repayment of the Series 2025A Bonds, if material; (11xi) Rating rating changes; (12xii) Bankruptcybankruptcy, insolvency, receivership receivership, or similar event of the Transportation Board;∗‌any obligated person, which shall occur as described below; (13xiii) The the consummation of a merger, consolidation, or acquisition involving the Transportation Board an obligated person or the sale of all or substantially all of the assets of the Transportation Boardobligated person, other than in the ordinary course of business, the entry into of a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and; (14xiv) Appointment appointment of a successor or additional trustee Trustee or the change of name of a trusteeTrustee, if material. The Transportation Board does not undertake ; (xv) incurrence of a Financial Obligation of an obligated person, if material, or agreement to provide the above-described notice in the covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation of an obligated person, any of which affect Bondholders, if material; and (xvi) default, event of a mandatoryacceleration, scheduled redemption, not otherwise contingent upon the occurrence of an termination event, if (i) the modification of terms, dates and amounts of redemption are set forth in detail in the Official Statement for the Bonds, (ii) the only open issue is when Bonds will be redeemed in the case of a partial redemption, (iii) notice of redemption is given to the Holders or other similar events under the terms of a Financial Obligation of an obligated person, any of which reflect financial difficulties. For these purposes, any event described in the Indenture and immediately preceding clause (ivxii) public notice is considered to occur when any of the redemption is given pursuant to Release No. 34-23856 following occur: the appointment of a receiver, fiscal agent, or similar officer for an obligated person in a proceeding under the United States Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the Securities assets or business of the obligated person, or if such jurisdiction has been assumed by leaving the existing governing body and Exchange Commissionofficials or officers in possession but subject to the supervision and orders of a court or governmental authority, even if or the originally scheduled amounts may entry of an order confirming a plan of reorganization, arrangement, or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the obligated person. The Company shall notify the MSRB, in a timely manner, of any failure by the Company to provide annual financial statements in accordance with Section 5.12(b) of this Financing Agreement by the time required by such Section. All documents provided to the MSRB shall be reduced accompanied by prior optional redemption or Bond purchases.identifying information as prescribed by the MSRB