Common use of Event of Nonappropriation Clause in Contracts

Event of Nonappropriation. In the event the County Council shall not, on or before July 1 of each year, specifically budget and appropriate moneys as provided in Section 4.1(b)(ii) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in the Fiscal Year commencing on such July 1, an Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (a) The Trustee shall declare an Event of Nonappropriation on any earlier date on which the Trustee receives official, specific written notice from the County that this Facilities Agreement will be terminated. (b) As soon as practicable after receiving such specific written notice from the County or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrence, the Trustee shall give written notice to the County and the Corporation of an Event of Nonappropriation; but any failure of the Trustee to give such written notice shall not prevent the Trustee from declaring an Event of Nonappropriation or from taking any remedial action which would otherwise be available to the Trustee. (c) [Reserved] (d) The Trustee shall waive any Event of Nonappropriation which is cured prior to the expiration of the Waiver Period by the County’s specifically budgeting and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation (or other moneys which may be lawfully used to pay Acquisition Payments) funds sufficient to pay all Acquisition Payments due hereunder in such Fiscal Year to which the Event of Nonappropriation applies. If an Event of Nonappropriation occurs and is not waived, the County shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of Nonappropriation; provided, however, that, subject to the limitations of Section 4.6 hereof and this Section 4.7, the County shall continue to be liable for Acquisition Payments, (a) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable to any period during which the County shall continue to occupy the Corporation Facilities. The enactment by County Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County or other permissible indebtedness of the County or Corporation at such time and in such amount as will provide sufficient funds for the County to make all Base Payments due in the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The County, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, shall vacate and deliver over to the Trustee the Corporation Facilities by the expiration of the Fiscal Year during which an Event of Nonappropriation occurs if such occurs by notice, or not later than the July 31 following the July 1 on which the County shall have failed to specifically budget and appropriate sufficient moneys to pay Acquisition Payments hereunder. The Trustee shall, upon receipt of notice of the occurrence of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement for the benefit of the Owners of the Series 2020 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section performed as Trustee, shall be held by the Trustee for the benefit of the Owners of the Series 2020 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County by the Trustee, its assigns or its lessee.

Event of Nonappropriation. In the event that the County Council shall notnot specifically budget and appropriate, on or before July 1 the last day of each yearthe City’s Fiscal Year, specifically budget moneys to pay all Base Rentals and appropriate moneys the reasonably estimated Additional Rentals coming due for the next Renewal Term as provided in Section 4.1(b)(ii) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in the Fiscal Year commencing on such July 14.01 hereof and this Article, an Event of Nonappropriation shall be deemed to have occurred; , subject, however, to each of the following provisions: (a) The Trustee shall Lender may declare an Event of Nonappropriation on any earlier date on which the Trustee Lender receives official, specific written notice from the County City that this Facilities Agreement will be terminatedan Event of Nonappropriation is to occur. (b) As soon as practicable after receiving Absent such specific written notice from the County or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrenceCity, the Trustee Lender shall give written notice to the County and the Corporation City of an any Event of NonappropriationNonappropriation declared by the Lender following the Lender’s receipt of the City’s adopted budget for an applicable Fiscal Year; but any failure of the Trustee Lender to give such written notice shall not prevent the Trustee Lender from declaring an Event of Nonappropriation or from taking any remedial action which would otherwise be available to the TrusteeLender. (c) [Reserved] (d) The Trustee Lender shall waive any Event of Nonappropriation which is cured prior to by the expiration City within ten days of the Waiver Period giving of notice as provided in (b) above, by the County’s specifically budgeting inclusion in one or more duly enacted appropriation measures, (i) by specific line items, amounts authorized and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation (or other moneys which may directed to be lawfully used to pay Acquisition Paymentsall Base Rentals and (ii) funds sufficient amounts to pay all Acquisition Payments reasonably estimated Additional Rentals coming due hereunder for the Renewal Term in question. In the event that during any Renewal Term, any Additional Rentals shall become due which were not included in or covered by a duly enacted appropriation resolution, or that moneys are not specifically budgeted and appropriated to pay such Fiscal Year Additional Rentals within forty-five (45) days subsequent to the date upon which the Event of Nonappropriation applies. If such Additional Rentals are due, an Event of Nonappropriation occurs and is not waived, the County shall not be deemed to have occurred, upon notice by the Lender to the City to such effect (subject to waiver by the Lender as hereinbefore provided). Notwithstanding any provision to the contrary herein, if an Event of Nonappropriation occurs, the City’s right of possession of the Leased Property under this Lease shall terminate at the end of the last day of the Renewal Term for which this Lease shall be in default under this Facilities Agreement effect, and the City shall not be obligated to make payment of any future Acquisition Payments due hereunder the Base Rentals, Additional Rentals or any other payments provided for herein which accrue after the beginning end of the Fiscal Year with respect to last day of the Renewal Term for which there has occurred an Event of Nonappropriationthis Lease shall be in effect; provided, however, that, subject to the limitations of Section 4.6 hereof Sections 6.01 and this Section 4.714.03 hereof, the County City shall continue to be liable for Acquisition Payments, (a) accrued prior to the beginning of such Fiscal Year, Base Rentals and due hereunder, and (b) Additional Rentals allocable to any period during which the County City shall continue to occupy occupy, use or retain possession of the Corporation FacilitiesLeased Property, beginning with the first day of the Renewal Term in respect of which the Event of Nonappropriation occurs. The enactment by County Council of an ordinance authorizing the issuance of general obligation bonds City shall in all events vacate or bond anticipation notes surrender possession of the County or other permissible indebtedness Leased Property by the tenth Business Day of the County or Corporation at such time and Renewal Term in such amount as will provide sufficient funds for respect of which the County to make all Base Payments due in Event of Nonappropriation has occurred. After the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The County, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, shall vacate and deliver over to the Trustee the Corporation Facilities by the expiration tenth Business Day of the Fiscal Year during Renewal Term in respect of which an Event of Nonappropriation occurs if such occurs has occurred, the Lender may proceed to exercise all or any Lease Remedies. All property, funds and rights acquired by notice, or not later than the July 31 following Lender upon the July 1 on which the County shall have failed to specifically budget and appropriate sufficient moneys to pay Acquisition Payments hereunder. The Trustee shall, upon receipt termination of notice of the occurrence this Lease by reason of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement for the benefit of the Owners of the Series 2020 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section performed as Trusteeherein, less any moneys due and owing to the Lender, shall be held by the Trustee for the benefit of the Owners of the Series 2020 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County by the Trustee, its assigns or its lesseeLender.

Event of Nonappropriation. In Upon the event the County Council shall not, on or before July 1 occurrence of each year, specifically budget and appropriate moneys as provided in Section 4.1(b)(ii) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in the Fiscal Year commencing on such July 1, an Event of Nonappropriation shall be deemed to have occurred; subjectNonappropriation, however, to each of the following provisionsprovisions shall apply: (a) The Trustee shall declare an Event of Nonappropriation on any earlier date on which If the Trustee receives School District delivers official, specific written notice from to the County that this Facilities Agreement will be terminated. (b) As soon as practicable after receiving such specific written notice from the County or after an Event of Nonappropriation is deemed to have occurred as contemplated above Corporation and the Trustee has actual notice that it will not appropriate funds in the next succeeding Fiscal Year for payment of such deemed occurrenceInstallment Payments, the Trustee shall immediately give written notice to the County School District and the Corporation of stating that an Event of NonappropriationNonappropriation has occurred; but any failure of the Trustee to give such written notice shall not prevent the Trustee from declaring an Event of Nonappropriation or from taking any remedial action which would otherwise be available to the Trustee. (b) Subject to Article VIII hereof and the provisions of subsections (c) [Reserved] and (d) The Trustee shall hereof, this Purchase and Use Agreement will be terminated pursuant to Section 2.2. (c) Subject to Article VIII hereof and the provisions of subsection (d) hereof, the Corporation or the Trustee, with the prior written consent of the Purchaser, may waive any Event of Nonappropriation which is cured by the School District within a reasonable time if the Waiver Period has not expired and in the Trustee’s judgment such waiver is in the best interest of the Holders of the Series 2013 Bonds. (d) Subject to Article VIII hereof and notwithstanding the provisions of subsection (c) hereof, the Trustee shall waive any Event of Nonappropriation (but only an Event of Nonappropriation which occurs pursuant to clause (a) of the second paragraph of the definition thereof) which is cured by the School District’s specifically budgeting and appropriating, prior to the expiration of the Waiver Period by the County’s specifically budgeting and appropriating from the millage levied by the County for the CollegePeriod, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation (or other moneys which may be lawfully used to pay Acquisition Payments) funds sufficient to pay all Acquisition Installment Payments coming due hereunder in for such Fiscal Year to which the Event of Nonappropriation appliesYear. If an Event of Nonappropriation occurs and is not waived, the County School District shall not be deemed to be in default under this Facilities Purchase and Use Agreement and shall not be obligated to make payment of any future Acquisition Installment Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of Nonappropriation; provided, however, that, subject to the limitations of Section 4.6 hereof and this Section 4.7, the County School District shall continue to be liable for Acquisition Payments, Installment Payments (a) accrued prior to the beginning of such Fiscal Year, Year and due hereunder, and (b) allocable to any period during which the County School District shall continue to occupy the Corporation Facilities. The enactment by County Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County or other permissible indebtedness of the County or Corporation at such time and in such amount as will provide sufficient funds for the County to make all Base Payments due in the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The CountySchool District, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, and shall vacate and deliver over to the Trustee the Corporation Facilities by the later of (a) the expiration of the Fiscal Year during which an Event of Nonappropriation occurs if such Event of Nonappropriation occurs by notice, specific written notice thereof or not later than the July 31 September 16 following the July 1 September 15 on which the County School District shall have failed fail to specifically budget and appropriate sufficient moneys to pay Acquisition pay, or adopt a Bond Resolution for the purpose of paying, the Base Payments hereunderhereunder or (b) when required by the last paragraph of Section 2.4 hereof. The Trustee shall, upon receipt of notice of the occurrence of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the 2013 Trust Agreement for the benefit of the Owners Holders of the Series 2020 2013 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 September 16 following the July 1 September 15 on which the County has failed School District fails to specifically budget and appropriate sufficient moneys to pay pay, or adopt a resolution for the Acquisition purpose of paying, the Installment Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Purchase and Use Agreement or to lease the Project 2013 Facilities as provided in Section 8.2 of this Purchase and Use Agreement, provided, however, that the Facilities shall always be operated for a civic or a public purpose as provided in Section 4.1 of the Base Lease to the extent such requirement continues to be applicable under State law. All property, funds and rights acquired by the Trustee by reason of an Event of Nonappropriation as provided herein, less any moneys due and owing to the Trustee for services performed as Trustee, shall be held by the Trustee for the benefit of the Owners Holders of the Series 2020 Bonds as set forth in the 2013 Trust Agreement. Notwithstanding anything in this Facilities Purchase and Use Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Purchase and Use Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs fees and expenses of the Trustee, and all other amounts which are payable hereunder, in excess of the principal amount of the Outstanding Series 2013 Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County School District by the Trustee, its assigns or its lessee.

Event of Nonappropriation. In the event the County Council shall not, on or before July 1 of each year, specifically budget and appropriate from the proceeds of general obligation bonds or other legally permissible indebtedness, including installment purchase revenue bonds of the Corporation or bond anticipation notes, or from other moneys as provided in Section 4.1(b)(ii) herein which may be lawfully used to pay Rental Payments and/or Acquisition Payments Payments, as the case may be, funds sufficient to pay all Acquisition Payments due hereunder in the Fiscal Year commencing on such July 1, an Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (a) The Trustee shall declare an Event of Nonappropriation on any earlier date on which the Trustee receives official, specific written notice from the County that this Facilities Agreement will be terminated. (b) As soon as practicable after receiving such specific written notice from the County or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrence, the Trustee shall give written notice to the County and the Corporation of an Event of Nonappropriation; but any failure of the Trustee to give such written notice shall not prevent the Trustee from declaring an Event of Nonappropriation or from taking any remedial action which would otherwise be available to the Trustee. (c) [Reserved] (d) The Trustee shall waive any Event of Nonappropriation which is cured prior to the expiration of the Waiver Period by the County’s specifically budgeting and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation (or other moneys which may be lawfully used to pay Rental Payments and/or Acquisition Payments) funds sufficient to pay all Rental Payments and/or Acquisition Payments Payments, as the case may be, due hereunder in such Fiscal Year to which the Event of Nonappropriation applies. If an Event of Nonappropriation occurs and is not waived, the County shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Rental Payments or Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of Nonappropriation; provided, however, that, subject to the limitations of Section 4.6 hereof and this Section 4.7, the County shall continue to be liable for Rental Payments and/or Acquisition Payments, as the case may be, (a) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable to any period during which the County shall continue to occupy the Corporation Facilities. The enactment by County Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County or other permissible indebtedness of the County or Corporation at such time and in such amount as will provide sufficient funds for the County to make all Rental Payments or Base Payments due in the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Rental Payments or Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The County, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, shall vacate and deliver over to the Trustee the Corporation Facilities by the expiration of the Fiscal Year during which an Event of Nonappropriation occurs if such occurs by notice, or not later than the July 31 following the July 1 on which the County shall have failed fail to specifically budget and appropriate sufficient moneys to pay the Rental Payments and/or Acquisition Payments Payments, as the case may be, hereunder. The Trustee shall, upon receipt of notice of the occurrence of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement for the benefit of the Owners of the Series 2020 BondsObligations. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed fails to specifically budget and appropriate sufficient moneys to pay the Rental Payments or the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section performed as Trustee, shall be held by the Trustee for the benefit of the Owners of the Series 2020 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds Obligations at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County by the Trustee, its assigns or its lessee.

Event of Nonappropriation. In (a) The officer or employee of the event City who is responsible for formulating budget proposals with respect to payments of Base Rentals and Additional Rentals is hereby directed (i) to estimate the County Council shall not, on or before July 1 Additional Rentals payable in the next ensuing Fiscal Year prior to the submission of each yearannual budget proposal to the Council during the Lease Term and (ii) to include in each annual budget proposal submitted to the Council during the Lease Term the entire amount of Base Rentals scheduled to be paid and the Additional Rentals estimated to be payable during the next ensuing Fiscal Year; it being the intention of the City that any decision to continue or to terminate this Lease shall be made solely by the Council, specifically budget in its sole discretion, and appropriate moneys as provided in Section 4.1(b)(iinot by any other department, agency or official of the City. (b) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in the Fiscal Year commencing on such July 1, an An Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (ai) The Trustee shall declare On December 31 of any Fiscal Year if the City has, on such date, failed, for any reason, to appropriate sufficient amounts to pay all Base Rentals scheduled to be paid and all Additional Rentals estimated to be payable in the next ensuing Fiscal Year; or (ii) If: (A) an Event event described in Section 8.08(a) hereof has occurred; (B) the Net Proceeds received as a consequence of Nonappropriation on such event are not sufficient to repair, restore, modify, improve or replace the Leased Property in accordance with Section 8.08 hereof; and (C) the City has not appropriated amounts sufficient to proceed under clause (i) of Section 8.08(c) hereof by December 31 of the Fiscal Year in which such event occurred or by December 31 of any earlier date on subsequent Fiscal Year in which the Trustee receives officialinsufficiency of Net Proceeds to repair, specific written notice from restore, modify, improve or replace the County that this Facilities Agreement will be terminatedLeased Property becomes apparent, on December 31 of the Fiscal Year in which such event occurred or on December 31 of any subsequent Fiscal Year in which such insufficiency became apparent, as applicable. (c) Notwithstanding subsection (b) As soon as practicable after receiving such specific written notice from the County or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrencethis Section, the Trustee may waive any such failure to appropriate under subsection (b) of this Section which is cured by the City within a reasonable period of time. (d) In the event that the City shall determine to exercise its annual right to terminate this Lease effective on December 31 of any Fiscal Year, the City shall give written notice to the County and the Corporation of an Event of Nonappropriation; but any failure of such effect to the Trustee to give such written notice shall not prevent the Trustee from declaring an Event later than April 15 of Nonappropriation or from taking any remedial action which would otherwise be available to the Trustee. (c) [Reserved] (d) The Trustee shall waive any Event of Nonappropriation which is cured prior to the expiration of the Waiver Period by the County’s specifically budgeting and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation (or other moneys which may be lawfully used to pay Acquisition Payments) funds sufficient to pay all Acquisition Payments due hereunder in such Fiscal Year to which the Event of Nonappropriation applies. If an Event of Nonappropriation occurs and is not waived, the County shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of NonappropriationYear; provided, however, that, subject that a failure to the limitations of Section 4.6 hereof and this Section 4.7, the County give such notice shall continue to be liable for Acquisition Payments, not (ai) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable to any period during which the County shall continue to occupy the Corporation Facilities. The enactment by County Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County or other permissible indebtedness of the County or Corporation at such time and in such amount as will provide sufficient funds for the County to make all Base Payments due in the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The County, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, shall vacate and deliver over to the Trustee the Corporation Facilities by the expiration of the Fiscal Year during which constitute an Event of Nonappropriation occurs if such occurs by noticeDefault, (ii) prevent the City from terminating this Lease or not (iii) result in any liability on the part of the City. (e) Not later than December 15 of the July 31 following then current Initial Term or any Renewal Term, the July 1 City shall give written notice (in substantially the form set forth in Exhibit F attached hereto) of lease renewal to the Trustee; provided however, that a failure to furnish copies of such measures shall not (i) constitute an Event of Default, (ii) prevent the City from terminating this Lease or (iii) result in any liability on which the County shall have failed to specifically budget and appropriate sufficient moneys to pay Acquisition Payments hereunder. The Trustee shall, upon receipt part of notice of the City. (f) Upon the occurrence of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement for the benefit City shall immediately give written notice of the Owners of the Series 2020 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section performed as Trustee, shall be held by the Trustee for the benefit of the Owners of the Series 2020 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement occurrence to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County by the Trustee, its assigns or its lessee.

Event of Nonappropriation. In the event the County Town Council shall not, on or before July 1 of each year, specifically budget and appropriate moneys as provided in Section 4.1(b)(ii) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in the Fiscal Year commencing on such July 1, an Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (a) The Trustee shall declare an Event of Nonappropriation on any earlier date on which the Trustee receives official, specific written notice from the County Town that this Facilities Agreement will be terminated. (b) As soon as practicable after receiving such specific written notice from the County Town or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrence, the Trustee shall give written notice to the County Town and the Corporation of an Event of Nonappropriation; but any failure of the Trustee to give such written notice shall not prevent the Trustee from declaring an Event of Nonappropriation or from taking any remedial action which would otherwise be available to the Trustee. (c) [Reserved] (d) The Trustee shall waive any Event of Nonappropriation which is cured prior to the expiration of the Waiver Period by the CountyTown’s specifically budgeting and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, notes or other permissible indebtedness of the County Town or the Corporation (or other moneys which may be lawfully used to pay Acquisition Payments) funds sufficient to pay all Acquisition Payments due hereunder in such Fiscal Year to which the Event of Nonappropriation applies. If an Event of Nonappropriation occurs and is not waived, the County Town shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of Nonappropriation; provided, however, that, subject to the limitations of Section 4.6 hereof and this Section 4.7, the County Town shall continue to be liable for Acquisition Payments, Payments (a) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable to any period during which the County Town shall continue to occupy the Corporation Facilities. The enactment by County Town Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County Town or other permissible indebtedness of the County Town or the Corporation at such time and in such amount as will provide sufficient funds for the County Town to make all Base Payments due in the Fiscal Year in question or the inclusion in the CountyTown’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The CountyTown, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, shall vacate and deliver over to the Trustee the Corporation Facilities by the expiration of the Fiscal Year during which an Event of Nonappropriation occurs if such occurs by notice, or not later than the July 31 following the July 1 on which the County Town shall have failed fail to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder. The Trustee shall, upon receipt of notice of the occurrence of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement for the benefit of the Owners of the Series 2020 2024 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed Town fails to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section 8.2 hereof, provided, however, that the Project Facilities shall always be operated for a civic or a public purpose as provided in Section 4.1 of the Base Lease. All property, funds and rights acquired by the Trustee by reason of an Event of Nonappropriation as provided herein, less any moneys due and owing to the Trustee for services performed as Trustee, shall be held by the Trustee for the benefit of the Owners of the Series 2020 2024 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County Town by the Trustee, its assigns or its lessee.

Event of Nonappropriation. In the event the County Council shall notnot specifically budget and appropriate, on or before July 1 of each year, specifically budget and appropriate moneys as provided in Section 4.1(b)(ii) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in and under any Supplemental Facilities Agreement and to accrue hereunder for the Fiscal Year commencing on such July 1, an Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (a) The Trustee shall declare an Event of Nonappropriation on any earlier date on which the Trustee receives official, specific written notice from the County that this Facilities Agreement will be terminated. (b) As soon as practicable after receiving such specific written notice from the County or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrenceabove, the Trustee shall give written notice to the County and the Corporation of an Event of Nonappropriation; but any failure of the Trustee to give such written notice shall not prevent the Trustee from declaring an Event of Nonappropriation or from taking any remedial action which would otherwise be available to the Trustee. (c) [Reserved]The Trustee may waive any Event of Nonappropriation which is cured by the County within a reasonable time if the Waiver Period has not expired and in the Trustee’s sole discretion such waiver is in the best interest of the Owners of the Bonds. (d) The Trustee shall waive any Event of Nonappropriation which is cured prior to the expiration of the Waiver Period by the County’s specifically budgeting and appropriating from the millage levied by the County for the Collegeappropriating, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness prior to expiration of the County or the Corporation (or other Waiver Period, moneys which may be lawfully used sufficient to pay Acquisition Payments) funds sufficient to pay all Acquisition Payments coming due hereunder in for such Fiscal Year to which the Event of Nonappropriation appliesYear. If an Event of Nonappropriation occurs and is not waived, the County shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of Nonappropriation; provided, however, that, subject to the limitations of Section 4.6 hereof and this Section 4.7, the County shall continue to be liable for Acquisition Payments, Payments (a) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable to any period during which the County shall continue to occupy the Corporation Facilities. The enactment by the County Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County or other permissible indebtedness of the County or Corporation at such time and in such amount as will provide sufficient funds for the County to make all Base Payments due in the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The County, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, and shall vacate and deliver over to the Trustee the Corporation Facilities by the expiration of the Fiscal Year during which an Event of Nonappropriation occurs if such occurs by notice, or not later than the July 31 following the July 1 on which the County shall have failed fail to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder. The Trustee shall, upon receipt of notice of the occurrence of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement for the benefit of the Owners of the Series 2020 2013 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed fails specifically to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section 8.2 of this Facilities Agreement, provided, however, that the Project Facilities shall always be operated for a civic or a public purpose as provided in Section 4.1 of the Base Lease to the extent such requirement continues to be applicable under State law. All property, funds and rights acquired by the Trustee by reason of an Event of Nonappropriation as provided herein, less any moneys due and owing to the Trustee for services performed as Trustee, shall be held by the Trustee for the benefit of the Owners of the Series 2020 2013 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs fees and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County by the Trustee, its assigns or its lessee.

Event of Nonappropriation. In (a) The officer of the event District who is responsible for formulating budget proposals with respect to payments of Base Rent and Additional Rent is hereby directed (i) to estimate the County Council shall not, on or before July 1 Additional Rent payable in the next ensuing Fiscal Year prior to the submission of each yearannual budget proposal to the Board during the Lease Term and (ii) to include in each annual budget proposal submitted to the Board during the Lease Term the entire amount of Base Rent scheduled to be paid and the Additional Rent estimated to be payable during the next ensuing Fiscal Year; it being the intention of the District that any decision to continue or to terminate this Lease shall be made solely by the Board, specifically budget in its sole discretion, and appropriate moneys as provided in Section 4.1(b)(iinot by any other department, agency or official of the District. (b) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in the Fiscal Year commencing on such July 1, an An Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (ai) The Trustee shall declare On June 30 of any Fiscal Year if the District has, on such date, failed, for any reason, to appropriate sufficient amounts authorized and directed to be used to pay all Base Rent scheduled to be paid and all Additional Rent estimated to be payable in the next ensuing Fiscal Year; or (ii) If: (A) an Event event described in Section 8.06(a) hereof has occurred; (B) the Net Proceeds received as a consequence of Nonappropriation on an event described in Section 8.06(a) hereof are not sufficient to repair, restore, modify, improve or replace the Leased Property in accordance with Section 8.06 hereof; and (C) the District has not appropriated amounts sufficient to proceed under Section 8.06(c)(i) hereof by June 30 of the Fiscal Year in which such event occurred or by June 30 of any earlier date on subsequent Fiscal Year in which the Trustee receives officialinsufficiency of Net Proceeds to repair, specific written notice from restore, modify, improve or replace the County that this Facilities Agreement will be terminatedLeased Property becomes apparent, on June 30 of the Fiscal Year in which such event occurred or on June 30 of any subsequent Fiscal Year in which such insufficiency became apparent, as applicable. (c) Notwithstanding subsection (b) As soon as practicable after receiving such specific written notice from the County or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrencethis Section, the Trustee may waive any such failure to appropriate under subsection (b) of this Section which is cured by the District within 30 days after the first day of any Fiscal Year for which such appropriation is effective. (d) In the event the District shall determine to exercise its annual right to terminate this Lease effective on June 30 of any Fiscal Year, the District shall give written notice to the County and the Corporation of an Event of Nonappropriation; but any failure of such effect to the Trustee to give such written notice shall not prevent the Trustee from declaring an Event later than April 1 of Nonappropriation or from taking any remedial action which would otherwise be available to the Trustee. (c) [Reserved] (d) The Trustee shall waive any Event of Nonappropriation which is cured prior to the expiration of the Waiver Period by the County’s specifically budgeting and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation (or other moneys which may be lawfully used to pay Acquisition Payments) funds sufficient to pay all Acquisition Payments due hereunder in such Fiscal Year to which the Event of Nonappropriation applies. If an Event of Nonappropriation occurs and is not waived, the County shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of NonappropriationYear; provided, however, that, subject that a failure to the limitations of Section 4.6 hereof and this Section 4.7, the County give such notice shall continue to be liable for Acquisition Payments, not (ai) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable to any period during which the County shall continue to occupy the Corporation Facilities. The enactment by County Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County or other permissible indebtedness of the County or Corporation at such time and in such amount as will provide sufficient funds for the County to make all Base Payments due in the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The County, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, shall vacate and deliver over to the Trustee the Corporation Facilities by the expiration of the Fiscal Year during which constitute an Event of Nonappropriation occurs if such occurs Default, (ii) prevent the District from terminating this Lease by notice, or not later than the July 31 following the July 1 on which the County shall have failed failing to specifically budget and appropriate sufficient moneys to pay Acquisition Payments hereunder. The Trustee shall, upon receipt of notice of the occurrence of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement for the benefit of the Owners of the Series 2020 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section performed as Trustee, shall be held by the Trustee for the benefit of the Owners of the Series 2020 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County by the Trustee, its assigns or its lessee.or

Event of Nonappropriation. In the event (a) The officer of the County Council shall not, on or before July 1 who is responsible for formulating budget proposals with respect to payments of Base Rentals and Additional Rentals is hereby directed (i) to estimate the Additional Rentals payable in the next ensuing Fiscal Year prior to the submission of each yearannual budget proposal to the Board during the Lease Term and (ii) to include in each annual budget proposal submitted to the Board during the Lease Term the entire amount of Base Rentals scheduled to be paid and the Additional Rentals estimated to be payable during the next ensuing Fiscal Year; it being the intention of the County that any decision to continue or to terminate this Lease shall be made solely by the Board, specifically budget in its sole discretion, and appropriate moneys as provided in Section 4.1(b)(iinot by any other department, agency or official of the County. (b) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in the Fiscal Year commencing on such July 1, an An Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (ai) The Trustee shall declare On December 31 of any Fiscal Year if the County has, on or prior to such date, failed, for any reason, to appropriate sufficient amounts authorized and directed to be used to pay all Base Rentals scheduled to be paid and all Additional Rentals estimated to be payable in the next ensuing Fiscal Year; or (ii) If: (A) an Event event described in Section 8.06(a) hereof has occurred, (B) the Net Proceeds received as a consequence of Nonappropriation on such event are not sufficient to repair, restore, modify, improve or replace the Leased Property in accordance with Section 8.06 hereof and (C) the County has not appropriated amounts sufficient to proceed under clause (i) of Section 8.06(c) hereof by December 31 of the Fiscal Year in which such event occurred or by December 31 of any earlier date on subsequent Fiscal Year in which the Trustee receives officialinsufficiency of Net Proceeds to repair, specific written notice from restore, modify, improve or replace the County that this Facilities Agreement will be terminatedLeased Property becomes apparent, on December 31 of the Fiscal Year in which such event occurred or on December 31 of any subsequent Fiscal Year in which such insufficiency became apparent, as applicable. (c) Notwithstanding subsection (b) As soon as practicable after receiving such specific of this Section, with the prior written notice from consent of the County or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrenceInitial Purchaser, the Trustee may waive any such failure to appropriate under subsection (b) of this Section which is cured by the County within 30 days after the first day of any Fiscal Year for which such appropriation is effective. (d) In the event that the County shall determine to exercise its annual right to cause this Lease to expire effective on December 31 of any Fiscal Year, the County shall give written notice to the County and the Corporation of an Event of Nonappropriation; but any failure of such effect to the Trustee to give such written notice shall not prevent the Trustee from declaring an Event later than December 15 of Nonappropriation or from taking any remedial action which would otherwise be available to the Trustee. (c) [Reserved] (d) The Trustee shall waive any Event of Nonappropriation which is cured prior to the expiration of the Waiver Period by the County’s specifically budgeting and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation (or other moneys which may be lawfully used to pay Acquisition Payments) funds sufficient to pay all Acquisition Payments due hereunder in such Fiscal Year to which the Event of Nonappropriation applies. If an Event of Nonappropriation occurs and is not waived, the County shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of NonappropriationYear; provided, however, thatthat a failure to give such notice shall not (i) constitute an Event of Default, subject to the limitations of Section 4.6 hereof and this Section 4.7, (ii) prevent the County shall continue to be liable for Acquisition Payments, from terminating this Lease or (aiii) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable give rise to any period during which cause of action other than for specific enforcement of the County shall continue to occupy the Corporation Facilities. The enactment by County Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County to deliver the notice provided for in this subsection (d). (e) The County shall furnish the Trustee with copies of all appropriation measures relating to Base Rentals, Additional Rentals or the Purchase Option Price promptly upon the adoption thereof by the Board, but not later than 30 days following the adoption thereof by the Board; provided however, that a failure to furnish copies of such measures shall not (i) constitute an Event of Default, (ii) prevent the County from terminating this Lease or (iii) give rise to any cause of action other permissible indebtedness than for specific enforcement of the obligation of the County or Corporation at such time and in such amount as will provide sufficient funds for to deliver the County to make all Base Payments due in the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating copies of such funds appropriation measures provided for purposes of in this Section 4.7. The County, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, shall vacate and deliver over subsection (e). (f) Notwithstanding anything herein to the Trustee contrary, so long as the Corporation Facilities by Initial Purchaser is the expiration sole Owner of the Fiscal Year during which an Event of Nonappropriation occurs if such occurs by notice, or not later than the July 31 following the July 1 on which the County shall have failed to specifically budget and appropriate sufficient moneys to pay Acquisition Payments hereunder. The Trustee shallOutstanding Certificates, upon receipt of notice of the occurrence of an Event of NonappropriationNonappropriation or Event of Default as described herein or in the Indenture, the Trustee shall provide written notice thereof to the Initial Purchaser and shall proceed in accordance with any written instructions received by the Initial Purchaser. Before taking any such action as directed by the Initial Purchaser, the Trustee shall be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement for the benefit of the Owners of the Series 2020 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as indemnification provided in Section performed as Trustee, shall be held by the Trustee for the benefit of the Owners of the Series 2020 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County by the Trustee, its assigns or its lesseeIndenture.

Event of Nonappropriation. In The officer of the event Sublessee who is responsible for formulating budget proposals with respect to payments of Rent is hereby directed (i) to estimate the County Council shall not, on or before July 1 Additional Rent payable in the next ensuing Fiscal Year prior to the submission of each yearannual budget proposal to the Governing Body of the Sublessee during the Sublease Term and (ii) to include as a line item in each annual budget proposal submitted to the Governing Body of the Sublessee during the Sublease Term the entire amount of Base Rent scheduled to be paid and Additional Rent estimated to be payable during the next ensuing Fiscal Year; it being the intention of the Sublessee that any decision to continue or to terminate the Sublease Term shall be made solely by the Governing Body of the Sublessee, specifically budget in its sole discretion, and appropriate moneys as provided in Section 4.1(b)(ii) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in not by any other department, agency or official of the Fiscal Year commencing on such July 1, an Sublessee. An Event of Nonappropriation shall be deemed to have occurred; subject, howeversubject to the Sublessee’s right to cure pursuant to subsection (c) of this Section, on June 30 of any Fiscal Year if the Governing Body of the Sublessee has, on such date, failed, for any reason, to each appropriate sufficient amounts authorized and directed to be used to pay all Base Rent scheduled to be paid and all Additional Rent estimated to be payable in the next ensuing Fiscal Year. Notwithstanding subsection (b) of the following provisions: (a) The Trustee shall declare this Section, an Event of Nonappropriation shall not be deemed to occur if, on any earlier date on which or before August 1 of the Trustee receives officialnext ensuing Fiscal Year, specific written notice from (i) the County that this Facilities Agreement will be terminated. (b) As soon as practicable after receiving such specific written notice from Governing Body of the County Sublessee has appropriated or after otherwise authorized the expenditure of amounts sufficient to avoid an Event of Nonappropriation is deemed to have occurred as contemplated above under subsection (b) of this Section and (ii) the Trustee Sublessee has actual notice paid all Additional Rent due during the period from June 30 through the date of such deemed occurrenceappropriation or authorization. If the Sublessee shall determine to exercise its annual right to terminate the Sublease Term effective on June 30 of any Fiscal Year, the Trustee Sublessee shall give written notice to the County and the Corporation of an Event of Nonappropriation; but any failure of the Trustee to give such written notice shall not prevent the Trustee from declaring an Event of Nonappropriation or from taking any remedial action which would otherwise be available effect to the Trustee. (c) [Reserved] (d) The Trustee shall waive any Event State not later than March 1 of Nonappropriation which is cured prior to the expiration of the Waiver Period by the County’s specifically budgeting and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation (or other moneys which may be lawfully used to pay Acquisition Payments) funds sufficient to pay all Acquisition Payments due hereunder in such Fiscal Year to which the Event of Nonappropriation applies. If an Event of Nonappropriation occurs and is not waived, the County shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of NonappropriationYear; provided, however, that, subject that a failure to the limitations of Section 4.6 hereof and this Section 4.7, the County give such notice shall continue to be liable for Acquisition Payments, not (ai) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable to any period during which the County shall continue to occupy the Corporation Facilities. The enactment by County Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County or other permissible indebtedness of the County or Corporation at such time and in such amount as will provide sufficient funds for the County to make all Base Payments due in the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The County, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, shall vacate and deliver over to the Trustee the Corporation Facilities by the expiration of the Fiscal Year during which constitute an Event of Nonappropriation occurs if such occurs Default, (ii) prevent the Sublessee from terminating this Sublease or (iii) result in any liability on the part of the Sublessee. The Sublessee shall furnish the State with copies of all appropriation or expenditure authorization measures relating to Rent or the Purchase Option Price promptly upon the adoption thereof by noticethe Governing Body of the Sublessee, or but not later than the July 31 20 days following the July 1 on which adoption thereof by the County shall have failed to specifically budget and appropriate sufficient moneys to pay Acquisition Payments hereunder. The Trustee shall, upon receipt of notice Governing Body of the occurrence Sublessee; provided however, that a failure to furnish copies of such measures shall not (i) constitute an Event of NonappropriationDefault, be entitled to all moneys then (ii) prevent the Sublessee from terminating this Sublease or (iii) result in any liability on hand and being held in all funds created under the Trust Agreement for the benefit part of the Owners of the Series 2020 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section performed as Trustee, shall be held by the Trustee for the benefit of the Owners of the Series 2020 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County by the Trustee, its assigns or its lesseeSublessee.

Event of Nonappropriation. In the event the County City Council shall notnot specifically budget and appropriate, on or before July 1 of each year, specifically budget and appropriate from the proceeds of general obligation bonds or from other moneys as provided in Section 4.1(b)(ii) herein which may be lawfully used to pay Acquisition Payments funds sufficient to pay all Acquisition Payments due hereunder in for the Fiscal Year commencing on such July 1, an Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (a) The Trustee Purchaser shall declare an Event of Nonappropriation on any earlier date on which the Trustee Purchaser receives official, specific written notice from the County City that this Facilities Agreement will be terminated. (b) As soon as practicable after receiving such specific written notice from the County City or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrenceabove, the Trustee Purchaser shall give written notice to the County City and the Corporation of an Event of Nonappropriation; but any failure of the Trustee Purchaser to give such written notice shall not prevent the Trustee Purchaser from declaring an Event of Nonappropriation or from taking any remedial action which would otherwise be available to the TrusteePurchaser. (c) [Reserved]The Purchaser may waive any Event of Nonappropriation which is cured by the City within a reasonable time if the Waiver Period has not expired. (d) The Trustee Purchaser shall waive any Event of Nonappropriation which is cured prior to the expiration of the Waiver Period by the CountyCity’s specifically budgeting and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation bonds (or other moneys which may be lawfully used to pay Acquisition Payments) funds funds, prior to expiration of the Waiver Period, sufficient to pay all Acquisition Payments coming due hereunder in for such Fiscal Year to which the Event of Nonappropriation applies. If an Event of Nonappropriation occurs and is not waived, the County City shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of Nonappropriation; provided, however, that, subject to the limitations of Section 4.6 hereof and this Section 4.7, the County City shall continue to be liable for Acquisition Payments, Payments (a) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable to any period during which the County City shall continue to occupy the Corporation Facilities. The enactment by County the City Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County or other permissible indebtedness of the County or Corporation City at such time and in such amount (or when combined with other moneys which may be lawfully used to pay Acquisition Payments) as will provide sufficient funds for the County City to make all Base Payments due in the Fiscal Year in question or the inclusion in the CountyCity’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, notes issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating of such funds for purposes of this Section 4.7. The CountyCity, in all events, shall cooperate with the Corporation and the Trustee Purchaser in making the partition required under Section 2.4 hereof and, if requested by the Trustee, and shall vacate and deliver over to the Trustee Purchaser the Corporation Facilities by the expiration of the Fiscal Year during which an Event of Nonappropriation occurs if such occurs by notice, or not later than the July 31 following the July 1 on which the County City shall have failed fail to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder. The Trustee Purchaser shall, upon receipt of notice of the occurrence of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement Indenture for the benefit of the Owners of the Series 2020 Bonds2018 Bond. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed City fails to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee Purchaser may or shall, as the case may be, proceed to exercise its remedies, remedies and liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section performed 8.2 hereof, provided, however, that the Project Facilities shall always be operated for a civic or a public purpose as Trustee, shall be held by the Trustee for the benefit provided in Section 4.1 of the Owners of Base Lease to the Series 2020 Bonds as set forth in the Trust Agreementextent such requirement continues to be applicable under State law. Notwithstanding anything in this Facilities Agreement herein to the contrary, in the event that the Trustee Purchaser shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the TrusteePurchaser, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon (with amounts so received to be credited first to such interest and then to principal), then such excess shall be paid to the County City by the TrusteePurchaser, its assigns or its lessee.

Event of Nonappropriation. In the event (a) The officer of the County Council shall not, on or before July 1 who is responsible for formulating budget proposals with respect to payments of Base Rentals and Additional Rentals is hereby directed (i) to estimate the Additional Rentals payable in the next ensuing Fiscal Year prior to the submission of each yearannual budget proposal to the Board during the Lease Term and (ii) to include in each annual budget proposal submitted to the Board during the Lease Term the entire amount of Base Rentals scheduled to be paid and the Additional Rentals estimated to be payable during the next ensuing Fiscal Year; it being the intention of the County that any decision to continue or to terminate this Lease shall be made solely by the Board, specifically budget in its sole discretion, and appropriate moneys as provided in Section 4.1(b)(iinot by any other department, agency or official of the County. (b) herein which may be lawfully used to pay Acquisition Payments sufficient to pay all Acquisition Payments due hereunder in the Fiscal Year commencing on such July 1, an An Event of Nonappropriation shall be deemed to have occurred; subject, however, to each of the following provisions: (ai) The Trustee shall declare On December 31 of any Fiscal Year if the County has, on or prior to such date, failed, for any reason, to appropriate sufficient amounts authorized and directed to be used to pay all Base Rentals scheduled to be paid and all Additional Rentals estimated to be payable in the next ensuing Fiscal Year; or (ii) If: (A) an Event event described in Section 8.06(a) hereof has occurred, (B) the Net Proceeds received as a consequence of Nonappropriation on such event are not sufficient to repair, restore, modify, improve or replace the Leased Property in accordance with Section 8.06 hereof and (C) the County has not appropriated amounts sufficient to proceed under clause (i) of Section 8.06(c) hereof by December 31 of the Fiscal Year in which such event occurred or by December 31 of any earlier date on subsequent Fiscal Year in which the Trustee receives officialinsufficiency of Net Proceeds to repair, specific written notice from restore, modify, improve or replace the County that this Facilities Agreement will be terminatedLeased Property becomes apparent, on December 31 of the Fiscal Year in which such event occurred or on December 31 of any subsequent Fiscal Year in which such insufficiency became apparent, as applicable. (c) Notwithstanding subsection (b) As soon as practicable after receiving such specific written notice from the County or after an Event of Nonappropriation is deemed to have occurred as contemplated above and the Trustee has actual notice of such deemed occurrencethis Section, the Trustee may waive any such failure to appropriate under subsection (b) of this Section which is cured by the County within 30 days after the first day of any Fiscal Year for which such appropriation is effective. (d) In the event that the County shall determine to exercise its annual right to cause this Lease to expire effective on December 31 of any Fiscal Year, the County shall give written notice to the County and the Corporation of an Event of Nonappropriation; but any failure of such effect to the Trustee to give such written notice shall not prevent the Trustee from declaring an Event later than December 15 of Nonappropriation or from taking any remedial action which would otherwise be available to the Trustee. (c) [Reserved] (d) The Trustee shall waive any Event of Nonappropriation which is cured prior to the expiration of the Waiver Period by the County’s specifically budgeting and appropriating from the millage levied by the County for the College, the proceeds of general obligation bonds, bond anticipation notes, or other permissible indebtedness of the County or the Corporation (or other moneys which may be lawfully used to pay Acquisition Payments) funds sufficient to pay all Acquisition Payments due hereunder in such Fiscal Year to which the Event of Nonappropriation applies. If an Event of Nonappropriation occurs and is not waived, the County shall not be deemed to be in default under this Facilities Agreement and shall not be obligated to make payment of any future Acquisition Payments due hereunder or any other payments provided for herein which accrue after the beginning of the Fiscal Year with respect to which there has occurred an Event of NonappropriationYear; provided, however, thatthat a failure to give such notice shall not (i) constitute an Event of Default, subject to the limitations of Section 4.6 hereof and this Section 4.7, (ii) prevent the County shall continue to be liable for Acquisition Payments, from terminating this Lease or (aiii) accrued prior to the beginning of such Fiscal Year, and due hereunder, and (b) allocable give rise to any period during which cause of action other than for specific enforcement of the County shall continue to occupy the Corporation Facilities. The enactment by County Council of an ordinance authorizing the issuance of general obligation bonds or bond anticipation notes of the County to deliver the notice provided for in this subsection (d). (e) The County shall furnish the Trustee with copies of all appropriation measures relating to Base Rentals, Additional Rentals or the Purchase Option Price promptly upon the adoption thereof by the Board, but not later than 30 days following the adoption thereof by the Board; provided however, that a failure to furnish copies of such measures shall not (i) constitute an Event of Default, (ii) prevent the County from terminating this Lease or (iii) give rise to any cause of action other permissible indebtedness than for specific enforcement of the obligation of the County or Corporation at such time and in such amount as will provide sufficient funds for to deliver the County to make all Base Payments due in the Fiscal Year in question or the inclusion in the County’s budget of sufficient millage to pay debt service on general obligation bonds or bond anticipation notes, or sufficient funds to pay debt service on other legally permissible indebtedness, issued to fund Base Payments due in such Fiscal Year shall be deemed a specific budgeting and appropriating copies of such funds appropriation measures provided for purposes of this Section 4.7. The County, in all events, shall cooperate with the Corporation and the Trustee in making the partition required under Section 2.4 hereof and, if requested by the Trustee, shall vacate and deliver over to the Trustee the Corporation Facilities by the expiration of the Fiscal Year during which an Event of Nonappropriation occurs if such occurs by notice, or not later than the July 31 following the July 1 on which the County shall have failed to specifically budget and appropriate sufficient moneys to pay Acquisition Payments hereunder. The Trustee shall, upon receipt of notice of the occurrence of an Event of Nonappropriation, be entitled to all moneys then on hand and being held in all funds created under the Trust Agreement for the benefit of the Owners of the Series 2020 Bonds. After the expiration of the Fiscal Year during which an Event of Nonappropriation occurs, if such occurs by notice, or the July 31 following the July 1 on which the County has failed to specifically budget and appropriate sufficient moneys to pay the Acquisition Payments hereunder, the Trustee may or shall, as the case may be, proceed to exercise its remedies, liquidate its interest in this Facilities Agreement or to lease the Project Facilities as provided in Section performed as Trustee, shall be held by the Trustee for the benefit of the Owners of the Series 2020 Bonds as set forth in the Trust Agreement. Notwithstanding anything in this Facilities Agreement to the contrary, in the event that the Trustee shall receive a payment for the transfer of its interest in this Facilities Agreement, or total rental payments for leasing that are, after the payment of the Corporation’s expenses in connection therewith, including attorneys’ and other fees, costs and expenses of the Trustee, in excess of the principal amount of the Outstanding Bonds at the time of the Event of Nonappropriation and the interest due and to become due thereon subsection (with amounts so received to be credited first to such interest and then to principale), then such excess shall be paid to the County by the Trustee, its assigns or its lessee.