Common use of Event of Nonappropriation Clause in Contracts

Event of Nonappropriation. If any one or more of the following events shall occur and be continuing with respect to a Sponsor, it is hereby defined as and declared to be and to constitute an “Event of Non-Appropriation” under this Agreement with respect to such Sponsor: (a) Failure of the Missouri General Assembly to budget and appropriate, specifically with respect to this Agreement, on or before the last day of its Fiscal Year, the State Financing Amount for the next succeeding Fiscal Year; or (b) Failure of the Board of Aldermen of the City to budget and appropriate, specifically with respect to this Agreement, on or before the last day of its Fiscal Year, the City Financing Amount for the next succeeding Fiscal Year; or (c) Failure of the Board of Aldermen of the City to budget and appropriate, specifically with respect to this Agreement, on or before the last day of its Fiscal Year, the Event Day Tax Revenues Reimbursement Amount for the next succeeding Fiscal Year. Upon receipt of a certificate pursuant to Section 4.6 hereof from a Sponsor which states that such Sponsor has not appropriated the funds required to be appropriated by such Sponsor under Section 4.6 hereof, or upon receipt of other notice of the occurrence of any Event of Non- Appropriation with respect to a Sponsor, the Trustee shall immediately notify the Authority and the Sponsors of the occurrence of an Event of Non-Appropriation with respect to any Sponsor. Upon receipt of notice of the occurrence of an Event of Non-Appropriation or an Event of Default under Section 8.1(a) hereof with respect to a Sponsor, the Authority shall notify the Commissioners of the Authority appointed by such Sponsor that, pursuant to the Act, such Commissioners are disqualified from voting on any matter, action or resolution to come before the Authority, and from participating in any of the business of the Authority, so long as such Event of Non-Appropriation or Event of Default under Section 8.1(a) hereof continues with respect to such Sponsor.

Event of Nonappropriation. If any one or more of the following events shall occur and be continuing with respect to a Sponsor, it is hereby defined as and declared to be and to constitute an “Event of Non-AppropriationNon­Appropriation” under this Agreement with respect to such Sponsor: (a) Failure of the Missouri General Assembly to budget and appropriate, specifically with respect to this Agreement, on or before the last day of its Fiscal Year, the State Financing Amount for the next succeeding Fiscal Year; or (b) Failure of the Board of Aldermen of the City to budget and appropriate, specifically with respect to this Agreement, on or before the last day of its Fiscal Year, the City Financing Amount for the next succeeding Fiscal Year; or (c) Failure of the Board of Aldermen of the City to budget and appropriate, specifically with respect to this Agreement, on or before the last day of its Fiscal Year, the Event Day Tax Revenues Reimbursement Amount for the next succeeding Fiscal Year. Upon receipt of a certificate pursuant to Section 4.6 hereof from a Sponsor which states that such Sponsor has not appropriated the funds required to be appropriated by such Sponsor under Section 4.6 hereof, or upon receipt of other notice of the occurrence of any Event of Non- Non­ Appropriation with respect to a Sponsor, the Trustee shall immediately notify the Authority and the Sponsors of the occurrence of an Event of Non-Appropriation Non­Appropriation with respect to any Sponsor. Upon receipt of notice of the occurrence of an Event of Non-Appropriation Non­Appropriation or an Event of Default under Section 8.1(a) hereof with respect to a Sponsor, the Authority shall notify the Commissioners of the Authority appointed by such Sponsor that, pursuant to the Act, such Commissioners are disqualified from voting on any matter, action or resolution to come before the Authority, and from participating in any of the business of the Authority, so long as such Event of Non-Appropriation Non­Appropriation or Event of Default under Section 8.1(a) hereof continues with respect to such Sponsor.