Common use of Events of Default and Acceleration of Maturities Clause in Contracts

Events of Default and Acceleration of Maturities. If one or more of the following Events of Default shall happen: (a) Default shall be made in the due and punctual payment by the District of any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, when and as the same shall become due and payable; (b) Default shall be made by the District in the performance of any of the agreements or covenants contained herein required to be performed by it, and such default shall have continued for a period of thirty (30) days after the District knows, or should have known, that such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file a petition seeking arrangement or reorganization under federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with the consent of the District seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District or of the whole or any substantial part of their respective property; then and in each and every such case during the continuance of such Event of Default the Bank may, by notice in writing to the District, declare all of the unpaid Series 2023 Installment Payments to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein to the contrary notwithstanding. This Section however, is subject to the condition that if at any time after all of the unpaid Series 2023 Installment Payments shall have been so declared due and payable and before any judgment or decree for the payment of the moneys due shall have been obtained or entered the District shall deposit with the Bank a sum sufficient to pay all of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due prior to such declaration, with interest on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their terms, and the reasonable expenses of the Bank, and any and all other defaults known to the Bank (other than in the payment of all of the unpaid Series 2023 Installment Payments due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank or provision deemed by the Bank to be adequate shall have been made therefor, then and in every such case the Bank, by written notice to the District, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events events (herein called “events of Default default”) shall happen, that is to say: (a) Default if default shall be made by the Authority in the due and punctual payment by of the District of interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants contained required herein required to be performed by itthe Authority, and such default shall have continued for a period of thirty sixty (3060) days after or (or if the District knows, or should have known, Authority notifies the Trustee that such default exists; provided, however, that if in the its reasonable opinion of the District the default failure stated in the notice can be corrected, but not within such 30 60 day period, and corrective action is instituted by the District failure will not constitute an event of default if the Authority commences to cure the failure within such 30 60 day period and thereafter diligently pursued and in good faith until the default is corrected, cures such default will not be an Event failure in a reasonable period of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or madetime); (d) The filing of a notice of judgment lien against if the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Authority or of the whole or any substantial part of their respective its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; then and in each and every such case during the continuance of such Event event of Default default the Bank mayTrustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shall, by notice in writing to the DistrictAuthority, declare the principal of all of Bonds then Outstanding and the unpaid Series 2023 Installment Payments interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This Section provision, however, is subject to the condition that if at any time after all the principal of the unpaid Series 2023 Installment Payments Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the moneys money due shall have been obtained or entered the District Authority shall deposit with the Bank Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds matured prior to such declarationdeclaration and premium, if any, with interest at the rate borne by such Bonds on such overdue installmentsinterest and principal and premium, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsany, and the reasonable fees and expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all interest on and principal of the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then and in every such case the BankTrustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstanding, by written notice to the DistrictAuthority and to the Trustee, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more The following shall each be an "event of the following Events of Default shall happendefault" under this Trust Agreement: (a) Default if default shall be made in the due and punctual payment by of the District of any Series 2023 Installment Payment or fees required to be paid hereunderprincipal of, or premium (if any) on, any Contract or Bond, Bond when and as the same shall become due and payable, whether at maturity as therein expressed, by proceedings for redemption, by declaration or otherwise; (b) Default if default shall be made in the due and punctual payment of any installment of interest on any Bond when and as such interest installment shall become due and payable; (c) if there shall be a default under the Project Lease by reason of failure by the City to pay any rental under the Project Lease relating to or in connection with the Project as and when the same becomes due and payable; (d) if default shall be made by the District Authority in the performance observance of any of the covenants, agreements or covenants contained herein required to be performed by itconditions on its part in this Trust Agreement or in the Bonds contained, and such default shall have continued for a period of thirty sixty (3060) days after written notice thereof, specifying such default and requiring the District knowssame to be remedied, shall have been given to the Authority by the Trustee, or should have knownto the Authority and the Trustee by the Owners of not less than twenty-five percent (25%) in aggregate principal amount of the Bonds at the time Outstanding, provided that such default exists; provided, however, that if sixty (60) day period shall be extended to one hundred twenty (120) days in the reasonable opinion of event the District the City is not able to cure such default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 a sixty (60) day period and diligently pursued in but commenced a good faith until the default is corrected, such default will not be an Event effort to cure immediately upon receipt of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the Districtas described above; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District;or (e) Any default in the payment or performance of any material obligationif, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file a petition seeking arrangement or reorganization under federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with the consent of the District seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the District Authority or of the whole or any substantial part of their respective its property, and such custody or control shall not be terminated or stayed within sixty (60) days from the date of assumption of such custody or control; then If one or more such events of default shall occur, then, and in each and every such case during the continuance of such Event event of Default default, the Bank Trustee may, at the direction of the Owners of a majority in aggregate principal amount of the Bonds, by written notice in writing to the DistrictAuthority, declare the principal of all of the unpaid Series 2023 Installment Payments Bonds then Outstanding, and the interest accrued thereon, to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. The foregoing provision, anything contained herein to the contrary notwithstanding. This Section however, is subject to the condition that if if, at any time after all the principal of the unpaid Series 2023 Installment Payments Bonds shall have been so declared due and payable and before any judgment payable, the Authority shall pay to or decree for the payment of the moneys due shall have been obtained or entered the District shall deposit with the Bank Trustee a sum sufficient to pay all principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds maturing prior to such declaration, with declaration and all matured installments of interest on such overdue installments, at (if any) upon all the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their terms, and the reasonable expenses of the BankBonds, and any and all other defaults known to the Bank Trustee (other than in the payment of all principal of and interest on the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee, or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then then, and in every such case case, the BankTrustee, by written notice to on behalf of the DistrictOwners of all of the Bonds, may shall rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any right or power consequent thereon; provided, however, that the Trustee’s obligation to so rescind and annul such declaration shall be subject to the provisions of the next following paragraph.

Events of Default and Acceleration of Maturities. If one or more of the following Events events (herein called “events of Default default”) shall happen, that is to say: (a) Default if default shall be made by the Authority in the due and punctual payment by of the District of interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants contained required herein required to be performed by itthe Authority, and such default shall have continued for a period of thirty sixty (3060) days after or (or if the District knows, or should have known, Authority notifies the Trustee that such default exists; provided, however, that if in the its reasonable opinion of the District the default failure stated in the notice can be corrected, but not within such 30 60 day period, and corrective action is instituted by the District failure will not constitute an event of default if the Authority commences to cure the failure within such 30 60 day period and thereafter diligently pursued and in good faith until the default is corrected, cures such default will not be an Event failure in a reasonable period of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or madetime); (d) The filing of a notice of judgment lien against if the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Authority or of the whole or any substantial part of their respective its property; then and in each and every such case during the continuance of such or (e) if an Event of Default the Bank may, by notice in writing to the District, declare all has occurred under Section 6.01 of the unpaid Series 2023 Installment Payments to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein to the contrary notwithstanding. This Section however, is subject to the condition that if at any time after all of the unpaid Series 2023 Installment Payments shall have been so declared due and payable and before any judgment or decree for the payment of the moneys due shall have been obtained or entered the District shall deposit with the Bank a sum sufficient to pay all of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due prior to such declaration, with interest on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their terms, and the reasonable expenses of the Bank, and any and all other defaults known to the Bank (other than in the payment of all of the unpaid Series 2023 Installment Payments due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank or provision deemed by the Bank to be adequate shall have been made therefor, then and in every such case the Bank, by written notice to the District, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereonFacilities Lease.

Events of Default and Acceleration of Maturities. If one or more of the The following events shall constitute Events of Default shall happenhereunder: (a) Default shall be made in the due and punctual payment Failure by the District Agency to pay the principal of any Series 2023 Installment Payment or fees required to be paid hereunder, interest or prepayment premium (if any) on the Loan or any Contract or Bond, Parity Debt when and as the same shall become due and payable;. (b) Default shall be made Failure by the District in the performance of Agency to observe and perform any of the covenants, agreements or covenants conditions on its part contained herein required in this Loan Agreement, other than as referred to be performed by itin the preceding clause (a), and such default shall have continued for a period of thirty (30) days after written notice, specifying such failure and requesting that it be remedied, has been given to the District knows, or should have known, that such default existsAgency by the Trustee; provided, however, that if in the reasonable opinion of the District Agency the default failure stated in the such notice can be corrected, but not within such 30 thirty (30) day period, and such failure shall not constitute an Event of Default if corrective action is instituted by the District Agency within such 30 thirty (30) day period and thereafter is diligently pursued in good faith until the default such failure is corrected, such default will not be an Event of Default under this Installment Purchase Agreement;. (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made The filing by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing Agency of a notice of judgment lien against petition or answer seeking reorganization or arrangement under the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file a petition seeking arrangement or reorganization under federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition petition, filed with or without the consent of the District Agency, seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if if, under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the District Agency or of the whole or any substantial part of their respective its property; then and in each and every such case during the continuance of such . (d) [DEFAULT UNDER PARITY DEBT?] If an Event of Default has occurred and is continuing, the Bank may, by notice in writing to Trustee may (a) declare the District, declare all principal of the Loan, together with accrued interest on all unpaid Series 2023 Installment Payments installments thereof, to be due and payable immediately, and upon any such declaration the same shall will become immediately due and payable, anything contained herein in this Loan Agreement to the contrary notwithstanding, and (b) subject to receipt of satisfactory indemnity, exercise any other remedies available to the Trustee in law or equity arising hereunder. Immediately upon becoming aware of the occurrence of an Event of Default under this Loan Agreement, the Trustee shall give notice of such Event of Default to the Agency by telephone, telecopier or other telecommunication device, promptly confirmed in writing. This Section provision, however, is subject to the condition that if if, at any time after all the principal of the unpaid Series 2023 Installment Payments shall have Loan has been so declared due and payable payable, and before any judgment or decree for the payment of the moneys due shall have has been obtained or entered entered, the District shall Agency will deposit with the Bank Trustee a sum sufficient to pay all installments of principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Loan matured prior to such declarationdeclaration and all accrued interest thereon, with interest on such overdue installments, installments of principal and interest at the net effective rate or rates applicable to then borne by the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsOutstanding Bonds, and the reasonable fees and expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all principal of and interest on the unpaid Series 2023 Installment Payments Loan due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then then, and in every such case case, the BankTrustee may, by written notice to the DistrictAuthority and the Agency, may rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any the right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events events (herein called “events of Default default”) shall happen, that is to say: (a) Default if default shall be made by the Authority in the due and punctual payment by of the District of interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants contained required herein required to be performed by itthe Authority, and such default shall have continued for a period of thirty sixty (3060) days after or (or if the District knows, or should have known, Authority notifies the Trustee that such default exists; provided, however, that if in the its reasonable opinion of the District the default failure stated in the notice can be corrected, but not within such 30 60 day period, and corrective action is instituted by the District failure will not constitute an event of default if the Authority commences to cure the failure within such 30 60 day period and thereafter diligently pursued and in good faith until the default is corrected, cures such default will not be an Event failure in a reasonable period of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or madetime); (d) The filing of a notice of judgment lien against if the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Authority or of the whole or any substantial part of their respective its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; or (f) if an Event of Default has occurred under the Continuing Covenant Agreement; then and in each and every such case during the continuance of such Event event of Default default the Bank Trustee may, with the consent of the Purchaser, or, at the direction of the Purchaser, shall institute legal proceedings pursuant to Section 7.03 hereof. In addition, in the event of a default described in Section 7.01(a) or (b) hereof, the Trustee, upon the written request of the Purchaser shall, by notice in writing to the DistrictAuthority, declare the principal of all of Bonds then Outstanding and the unpaid Series 2023 Installment Payments interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This Section provision, however, is subject to the condition that if at any time after all the principal of the unpaid Series 2023 Installment Payments Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the moneys money due shall have been obtained or entered the District Authority shall deposit with the Bank Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds matured prior to such declarationdeclaration and premium, if any, with interest at the rate borne by such Bonds on such overdue installmentsinterest and principal and premium, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsany, and the reasonable fees and expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all interest on and principal of the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then and in every such case the BankTrustee or the Purchaser, by written notice to the DistrictAuthority and to the Trustee, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon. Notwithstanding anything to the contrary herein, under no circumstances may the Authority or the Trustee accelerate the payment of Base Rental under the Facilities Lease.

Events of Default and Acceleration of Maturities. If one or more of the following events (herein called “Events of Default Default”) shall happen, that is to say: (a) Default If default shall be made in the due and punctual payment by of the District principal or Accreted Value of any Series 2023 Installment Payment or fees required to be paid hereunderredemption premium, if any, or any Contract mandatory sinking fund payment, on any Bond when and as the same shall become due and payable, whether at maturity as therein expressed, by declaration or Bond, otherwise; (b) If default shall be made in the due and punctual payment of the interest on any Bond when and as the same shall become due and payable; (bc) Default If default shall be made by the District Agency in the performance observance of any of the agreements agreements, conditions or covenants contained herein required to be performed by iton its part in this Indenture or in the Bonds contained, and such default shall have continued for a period of thirty (30) 60 days after the District knows, or should Agency shall have known, that been given notice in writing of such default existsby the Trustee; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 day period and diligently pursued in good faith until the default is corrected, such default will shall not be constitute an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished hereunder if the Agency shall commence to the Bank cure such default within said 60-day period and thereafter diligently and in connection with the execution and delivery good faith proceed to cure such default within a reasonable period of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made;time; or (d) The filing of a notice of judgment lien against If the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District Agency shall file a petition or answer seeking reorganization or arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition petition, filed with or without the consent of the District Agency, seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if if, under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the District Agency or of the whole or any substantial part of their respective its property; then then, and in each and every such case during the continuance of such Event event of Default default, the Bank Trustee may, and upon the direction of the Bond Insurer or upon the written request of the Owners of not less than twenty-five per cent (25%) in aggregate principal amount of the Bonds at the time Outstanding with the consent of the Bond Insurer, shall, by notice in writing to the DistrictAgency, declare the principal or Accreted Value of all of the unpaid Series 2023 Installment Payments Bonds then Outstanding, and the interest accrued thereon, to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Bonds contained herein to the contrary notwithstanding; provided, however, that any such declaration shall be subject to the prior written consent of the Bond Insurer, if any. This Section provision, however, is subject to the condition that if if, at any time after all the principal or Accreted Value of the unpaid Series 2023 Installment Payments Bonds shall have been so declared due and payable payable, and before any judgment or decree for the payment of the moneys money due shall have been obtained or entered entered, the District Agency shall deposit with the Bank Trustee a sum sufficient to pay all of principal on the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds matured prior to such declarationdeclaration and all matured installments of interest (if any) upon all the Bonds, with interest at the rate of ten per cent (10%) per annum on such overdue installments, at the rate or rates applicable to the remaining unpaid installments of principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsand interest, and the reasonable expenses of the BankTrustee, including attorneys fees, and any and all other defaults known to the Bank Trustee (other than in the payment of all principal or Accreted Value of and interest on the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then then, and in every such case case, the BankOwners of at least twenty-five per cent (25%) in aggregate principal amount of the Bonds then Outstanding, by written notice to the DistrictAgency and to the Trustee, may may, on behalf of the Owners of all of the Bonds, rescind and annul such declaration and its consequences; but provided, however, that no such rescission or annulment shall occur without the prior written consent of the Bond Insurer, if any. No such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events events (herein called “events of Default default”) shall happen, that is to say: (a) Default if default shall be made by the Authority in the due and punctual payment by of the District of interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Obligation when and as the same shall become due and payable; (b) Default if default shall be made by the District Authority in the due and punctual payment of the principal of any Obligation when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory Prepayment; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants contained required herein required to be performed by itthe Authority, and such default shall have continued for a period of thirty sixty (3060) days or such additional time (with respect to agreements or covenants that cannot be corrected or performed within such sixty (60) day period but the correction of which is being diligently pursued by the Authority) as is reasonably required to correct any such default after the District knows, or should have known, that such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District Authority shall have been given notice in writing; orwriting of such default by the Trustee or the Holder; (gd) The District if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Authority or of the whole or any substantial part of their respective its property; or (e) if an Event of Default has occurred under Section 6.01 of the Sublease; then and in each and every such case during the continuance of such Event event of Default default the Bank mayTrustee, may and upon the written request of the Holders of not less than a majority in aggregate principal amount of the Obligations then Outstanding shall, by notice in writing to the DistrictAuthority, declare the principal of all of Obligations then Outstanding and the unpaid Series 2023 Installment Payments interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Obligations to the contrary notwithstanding. The Trustee shall promptly notify all Holders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This Section provision, however, is subject to the condition that if at any time after all the principal of the unpaid Series 2023 Installment Payments Obligations then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the moneys money due shall have been obtained or entered the District Authority shall deposit with the Bank Trustee a sum sufficient to pay all matured interest on all the Obligations and all principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Obligations matured prior to such declaration, with interest at the rate borne by such Obligations on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsinterest and principal, and the reasonable fees and expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all interest on and principal of the unpaid Series 2023 Installment Payments Obligations due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then and in every such case the BankTrustee or the Holders of not less than a majority in aggregate principal amount of Obligations then Outstanding, by written notice to the DistrictAuthority and to the Trustee, may on behalf of the Holders of all the Obligations then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events of Default shall happen: (a1) Default if default shall be made by the District in the due and punctual payment by the District of any Series 2023 WIFIA Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b2) Default if default shall be made by the District in the performance of any of the agreements or covenants contained which are required herein required to be performed by it, and such default shall have continued for a period of thirty sixty (30) days after the District knows, or should have known, that such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (3060) days after the District shall have been given notice in writingwriting of such default by the Authority; or (g3) The if the District shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District or of the whole or any substantial part of their respective its property; or (4) if payment of the principal of any Contract or Bond is accelerated in accordance with its terms; or (5) if an “Event of Default” under and as defined in the WIFIA Loan Agreement shall have occurred; then and in each and every such case during the continuance Authority shall immediately notify the Authority Lender of such an Event of Default and follow any written directions of the Bank mayAuthority Lender, by notice in writing which may include a direction to declare the District, declare all entire principal amount of the unpaid Series 2023 WIFIA Installment Payments and the accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein to the contrary notwithstanding; provided that the unpaid Purchase Price shall automatically become due and payable without the action of the Authority or any other person if the unpaid principal amount of the WIFIA Loan shall have become immediately due and payable. Notwithstanding anything to the contrary set forth herein, the Authority shall not have the right to (i) declare the unpaid Purchase Price immediately due and payable or (ii) exercise any other rights or remedies hereunder following the occurrence of an Event of Default in each case without the prior written direction of the Authority Lender. This Section section, however, is subject to the condition that if at any time after all the entire principal amount of the unpaid Series 2023 WIFIA Installment Payments and the accrued interest thereon shall have been so declared due and payable and payable, but before any judgment or decree for the payment of the moneys due shall have been obtained or entered entered, the District shall deposit with the Bank a sum Authority an amount that is sufficient to pay all the unpaid principal amount of the unpaid Series 2023 WIFIA Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause clauses (a1) or (4) above due prior to such declarationdeclaration and the accrued interest thereon, with interest on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 WIFIA Installment Payments or such Contract or Bond if paid in accordance with their terms, and the reasonable expenses of the BankAuthority, and any and all other defaults known to the Bank Authority (other than in the payment of all the entire principal amount of the unpaid Series 2023 WIFIA Installment Payments and the accrued interest thereon due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Authority or provision deemed by the Bank Authority to be adequate shall have been made therefor, then and in every such case the BankAuthority, by written notice to the District, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events of Default shall happen:, that is to say -- (a1) Default if default shall be made by the District in the due and punctual payment by the District of any Series 2023 2022 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b2) Default if default shall be made by the District in the performance of any of the agreements or covenants contained required herein required or in connection with any Contract or Bond to be performed by it, and such default shall have continued for a period of thirty sixty (30) days after the District knows, or should have known, that such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (3060) days after the District shall have been given notice in writing; orwriting of such default by the Purchaser; (g3) The if the District shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District or of the whole or any substantial part of their respective its property; or (4) if payment of the principal of any Contract or Bond is accelerated in accordance with its terms; then and in each and every such case during upon the continuance occurrence of such Event of Default specified in clauses (3) and (4) above, without any notice to the Bank District, the Purchaser shall declare the entire principal amount of the unpaid Series 2022 Installment Payments and the accrued interest thereon shall be immediately due and payable, and for any other Event of Default the Purchaser may, by notice in writing to the District, declare all the entire principal amount of the unpaid Series 2023 2022 Installment Payments and the accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein to the contrary notwithstanding. This Section section, however, is subject to the condition that if at any time after all the entire principal amount of the unpaid Series 2023 2022 Installment Payments and the accrued interest thereon shall have been so declared due and payable and before any judgment or decree for the payment of the moneys due shall have been obtained or entered the District shall deposit with the Bank Purchaser a sum sufficient to pay all the unpaid principal amount of the unpaid Series 2023 2022 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a1) above due prior to such declarationdeclaration and the accrued interest thereon, with interest on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 2022 Installment Payments or such Contract or Bond if paid in accordance with their terms, and the reasonable expenses of the BankDistrict, and any and all other defaults known to the Bank District (other than in the payment of all the entire principal amount of the unpaid Series 2023 2022 Installment Payments and the accrued interest thereon due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Purchaser, if appropriate, or provision deemed by the Bank Purchaser, if appropriate, to be adequate shall have been made therefor, then and in every such case the BankPurchaser, if appropriate by written notice to the District, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events of Default shall happen: (a) Default if default shall be made by the City in the due and punctual payment by the District of any Series 2023 2025 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District City in the performance of any of the agreements or covenants contained which are required herein required to be performed by it, and such default shall have continued for a period of thirty sixty (3060) days after the District knows, or should have known, that such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District City shall have been given notice in writingwriting of such default by the Authority; or (gc) The District if the City shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District City seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District City or of the whole or any substantial part of their respective its property; or (d) if payment of the principal of any Contract or Bond is accelerated in accordance with its terms; then and in each and every such case during the continuance of such an Event of Default Default, the Bank mayAuthority shall, by notice in writing to the DistrictCity, declare all the entire principal amount of the unpaid Series 2023 2025 Installment Payments and the accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein to the contrary notwithstanding. This Section section, however, is subject to the condition that if at any time after all the entire principal amount of the unpaid Series 2023 2025 Installment Payments and the accrued interest thereon shall have been so declared due and payable and payable, but before any judgment or decree for the payment of the moneys due shall have been obtained or entered entered, the District City shall deposit with the Bank a sum Authority an amount that is sufficient to pay all the unpaid principal amount of the unpaid Series 2023 2025 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a1) above due prior to such declarationdeclaration and the accrued interest thereon, with interest on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 2025 Installment Payments or such Contract or Bond if paid in accordance with their terms, and the reasonable expenses of the BankAuthority, and any and all other defaults known to the Bank Authority (other than in the payment of all the entire principal amount of the unpaid Series 2023 2025 Installment Payments and the accrued interest thereon due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Authority or provision deemed by the Bank Authority to be adequate shall have been made therefor, then and in every such case the BankAuthority, by written notice to the DistrictCity, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events events (herein called “events of Default default”) shall happen, that is to say: (a) Default if default shall be made by the Authority in the due and punctual payment by of the District of interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District Authority in the due and punctual payment of the principal or premium, including, without limitation, any Breakage Fee, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants contained required herein required to be performed by itthe Authority, and such default shall have continued for a period of thirty sixty (3060) days after or (or if the District knows, or should have known, Authority notifies the Trustee that such default exists; provided, however, that if in the its reasonable opinion of the District the default failure stated in the notice can be corrected, but not within such 30 60 day period, and corrective action is instituted by the District failure will not constitute an event of default if the Authority commences to cure the failure within such 30 60 day period and thereafter diligently pursued and in good faith until the default is corrected, cures such default will not be an Event failure in a reasonable period of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or madetime); (d) The filing of a notice of judgment lien against if the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Authority or of the whole or any substantial part of their respective its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facilities Lease; or Agreement; (f) if an Event of Default has occurred under the Continuing Covenant then and in each and every such case during the continuance of such Event event of Default default the Bank Trustee may, with the consent of the Purchaser, or, at the direction of the Purchaser, institute legal proceedings pursuant to Section 7.03 hereof. In addition, in the event of a default described in Section 7.01(a) or (b) hereof, the Trustee, upon the written request of the Purchaser shall, by notice in writing to the DistrictAuthority, declare the principal of all of Bonds then Outstanding and the unpaid Series 2023 Installment Payments interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This Section provision, however, is subject to the condition that if at any time after all the principal of the unpaid Series 2023 Installment Payments Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the moneys money due shall have been obtained or entered the District Authority shall deposit with the Bank Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds matured prior to such declarationdeclaration and premium, if any, with interest at the rate borne by such Bonds on such overdue installmentsinterest and principal and premium, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsany, and the reasonable fees and expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all interest on and principal of the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then and in every such case the BankTrustee or the Purchaser, by written notice to the DistrictAuthority and to the Trustee, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon. Notwithstanding anything to the contrary herein, under no circumstances may the Authority or the Trustee accelerate the payment of Base Rental under the Facilities Lease.

Events of Default and Acceleration of Maturities. If one or more of the following Events events (herein called “events of Default default”) shall happen, that is to say: (a) Default if default shall be made by the Authority in the due and punctual payment by of the District of interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District Authority in the due and punctual payment of the principal or premium, if any, of any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for mandatory redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants contained required herein required to be performed by itthe Authority, and such default shall have continued for a period of thirty sixty (3060) days after or (or if the District knows, or should have known, Authority notifies the Trustee that such default exists; provided, however, that if in the its reasonable opinion of the District the default failure stated in the notice can be corrected, but not within such 30 60 day period, and corrective action is instituted by the District failure will not constitute an event of default if the Authority commences to cure the failure within such 30 60 day period and thereafter diligently pursued and in good faith until the default is corrected, cures such default will not be an Event failure in a reasonable period of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or madetime); (d) The filing of a notice of judgment lien against if the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Authority or of the whole or any substantial part of their respective its property; or (e) if an Event of Default has occurred under Section 6.01 of the Facility Lease; then and in each and every such case during the continuance of such Event event of Default default the Bank mayTrustee, upon the written request of the Bondholders of not less than a majority in aggregate principal amount of the Bonds then Outstanding shall, by notice in writing to the DistrictAuthority, declare the principal of all of Bonds then Outstanding and the unpaid Series 2023 Installment Payments interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. The Trustee shall promptly notify all Bondholders by first class mail of any such event of default which is continuing of which a Responsible Officer has actual knowledge or written notice. This Section provision, however, is subject to the condition that if at any time after all the principal of the unpaid Series 2023 Installment Payments Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the moneys money due shall have been obtained or entered the District Authority shall deposit with the Bank Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds matured prior to such declarationdeclaration and premium, if any, with interest at the rate borne by such Bonds on such overdue installmentsinterest and principal and premium, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsany, and the reasonable fees and expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all interest on and principal of the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then and in every such case the BankTrustee or the Bondholders of not less than a majority in aggregate principal amount of Bonds then Outstanding, by written notice to the DistrictAuthority and to the Trustee, may on behalf of the Bondholders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events of Default shall happen: (a) Default if default shall be made by the Agency in the due and punctual payment by the District of any Series 2023 2018A Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District Agency in the performance of any of the agreements or covenants contained required herein required or in connection with any Contract or Bond to be performed by it, and such default shall have continued for a period of thirty (30) days after the District knows, or should Agency shall have known, that been given notice in writing of such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within Authority or, if such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished reasonably susceptible to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of cure within thirty (30) days after the District notice thereof, such default shall have been given notice in writing; orcontinued for a period of sixty (60) days; (gc) The District if the Agency shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Agency seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Agency or of the whole or any substantial part of their respective its property; or (d) if payment of the principal of any Contract or Bond is accelerated in accordance with its terms; then and in each and every such case during the continuance of such Event of Default specified in clause (c) and (d) above, the Bank Authority shall, and for any other such Event of Default the Authority may, by notice in writing to the DistrictAgency, declare all the entire principal amount of the unpaid Series 2023 2018A Installment Payments and the accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein to the contrary notwithstanding. This Section section, however, is subject to the condition that if at any time after all the entire principal amount of the unpaid Series 2023 2018A Installment Payments and the accrued interest thereon shall have been so declared due and payable and before any judgment or decree for the payment of the moneys due shall have been obtained or entered the District Agency shall deposit with the Bank Authority a sum sufficient to pay all the unpaid principal amount of the unpaid Series 2023 2018A Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due prior to such declarationdeclaration and the accrued interest thereon, with interest on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 2018A Installment Payments or such Contract or Bond if paid in accordance with their terms, and the reasonable expenses of the BankAuthority, and any and all other defaults known to the Bank Authority (other than in the payment of all the entire principal amount of the unpaid Series 2023 2018A Installment Payments and the accrued interest thereon due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Authority, or provision deemed by the Bank Authority to be adequate shall have been made therefor, then and in every such case the BankAuthority, by written notice to the DistrictAgency, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events shall constitute Events of Default shall happenhereunder: (a) Default if default shall be made by the Successor Agency in the due and punctual payment by of the District principal of or interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable, whether at maturity as therein expressed, by declaration or otherwise; (b) Default if default shall be made by the District Successor Agency in the performance observance of any of the covenants, agreements or covenants contained herein required to be performed by itconditions on its part in this Indenture or in the Bonds or any Parity Debt Instrument contained, other than a default described in the preceding clause (a), and such default shall have continued for a period of thirty (30) days after following receipt by the District knowsSuccessor Agency of written notice from the Trustee or any Owner of the occurrence of such default, or should have known, that such default exists; provided, however, provided that if in the reasonable opinion of the District Successor Agency the default failure stated in the notice can be corrected, but not within such 30 day period, and such failure will not constitute an event of default if corrective action is instituted by the District Successor Agency within such 30 day period and the Successor Agency thereafter diligently pursued and in good faith until the default is corrected, cures such default will not be an Event failure in a reasonable period of Default under this Installment Purchase Agreementtime; (c) Any financial statement or certificate furnished to If a default is made under the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made;Senior Obligation Indenture; or (d) The filing of a notice of judgment lien against If the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file Successor Agency files a petition seeking reorganization or arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall will approve a petition filed with the consent of the District seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or or, if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall will approve a petition, seeking reorganization under the federal bankruptcy laws or any other applicable law of the United States of America, or, if under the provisions of any other law for the relief or aid of debtors, any court of competent jurisdiction will assume custody or control of the District Successor Agency or of the whole or any substantial part of their respective its property; then and in each and every such case during the continuance of such . If an Event of Default has occurred under this Section and is continuing, the Bank Trustee may, by notice or, if requested in writing to by the District, declare all Owners of a majority in aggregate principal amount of the unpaid Series 2023 Installment Payments Bonds then Outstanding the Trustee shall, (a) declare the principal of the Bonds, together with the accrued interest thereon, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein in this Indenture or in the Bonds to the contrary notwithstanding, and (b) the Trustee shall, subject to the provisions of Section 8.06, exercise any other remedies available to the Trustee and the Bond Owners in law or at equity. Immediately upon receiving notice or actual knowledge of the occurrence of an Event of Default, the Trustee shall give notice of such Event of Default to the Successor Agency by telephone promptly confirmed in writing. Such notice shall also state whether the principal of the Bonds shall have been declared to be or have immediately become due and payable. With respect to any Event of Default described in clauses (a) or (c) above the Trustee shall, and with respect to any Event of Default described in clause (b) above the Trustee in its sole discretion may, also give such notice to the Owners by mail, which shall include the statement that interest on the Bonds shall cease to accrue from and after the date, if any, on which the Trustee shall have declared the Bonds to become due and payable pursuant to the preceding paragraph (but only to the extent that principal and any accrued, but unpaid, interest on the Bonds is actually paid on such date). This Section provision, however, is subject to the condition that if if, at any time after all the principal of the unpaid Series 2023 Installment Payments Bonds shall have been so declared due and payable payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered entered, the District Successor Agency shall deposit with the Bank Trustee a sum sufficient to pay all of principal on the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds matured prior to such declarationdeclaration and all matured installments of interest (if any) upon all the Bonds, with interest on such overdue installments, at the rate or rates applicable installments of principal and interest (to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsextent permitted by law), and the reasonable fees and expenses of the BankTrustee, (including the allocated costs and disbursements of its in-house counsel to the extent such services are not redundant with those provided by outside counsel) and any and all other defaults known to the Bank Trustee (other than in the payment of all principal of and interest on the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then then, and in every such case case, the BankTrustee shall promptly give written notice of the foregoing to the Owners of all Bonds then Outstanding, and the Owners of at least a majority in aggregate principal amount of the Bonds then Outstanding, by written notice to the DistrictSuccessor Agency and to the Trustee, may may, on behalf of the Owners of all of the Bonds, rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events shall constitute Events of Default shall happenhereunder: (a) Default shall be made in the due and punctual payment Failure by the District Agency to pay the principal of any Series 2023 Installment Payment or fees required to be paid hereunder, interest or prepayment premium (if any) on the Loan or any Contract or Bond, Parity Debt when and as the same shall become due and payable;. (b) Default shall be made Failure by the District in the performance of Agency to observe and perform any of the covenants, agreements or covenants conditions on its part contained herein required in this Loan Agreement or in any Parity Debt Instrument, other than as referred to be performed by itin the preceding clause (a), and such default shall have continued for a period of thirty sixty (3060) days after written notice specifying such failure and requesting that it be remedied has been given to the District knows, or should have known, that such default existsAgency by the Trustee; provided, however, that if in the reasonable opinion of the District Agency the default failure stated in the such notice can be corrected, but not within such 30 sixty (60) day period, and such failure shall not constitute an Event of Default if corrective action is instituted by the District Agency within such 30 sixty (60) day period and thereafter is diligently pursued in good faith until the default such failure is corrected, such default will not be an Event of Default under this Installment Purchase Agreement;. (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made The filing by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing Agency of a notice of judgment lien against petition or answer seeking reorganization or arrangement under the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file a petition seeking arrangement or reorganization under federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition petition, filed with or without the consent of the District Agency, seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if if, under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the District Agency or of the whole or any substantial part of their respective its property; then and in each and every such case during the continuance of such . If an Event of Default has occurred and is continuing, the Bank Trustee may, by notice and at the written direction of a majority in writing to the District, declare all aggregate principal amount of the Outstanding Bonds the Trustee shall, (a) declare the principal of the Loan, together with the accrued interest on all unpaid Series 2023 Installment Payments installments thereof, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein in this Loan Agreement to the contrary notwithstanding, and (b) to the extent indemnified to its satisfaction exercise any other remedies available to the Trustee in law or at equity. Immediately upon becoming aware of the occurrence of an Event of Default, the Trustee shall give notice of such Event of Default to the Agency by telephone, telecopier or other telecommunication device, promptly confirmed in writing. This Section provision, however, is subject to the condition that if if, at any time after all the principal of the unpaid Series 2023 Installment Payments Loan shall have been so declared due and payable payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered entered, the District Agency shall deposit with the Bank Trustee a sum sufficient to pay all installments of principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Loan matured prior to such declarationdeclaration and all accrued interest thereon, with interest on such overdue installments, installments of principal and interest at the net effective rate or rates applicable to then borne by the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsOutstanding Bonds, and the reasonable fees and expenses of the BankTrustee (including but not limited to attorneys fees), and any and all other defaults known to the Bank Trustee (other than in the payment of all principal of and interest on the unpaid Series 2023 Installment Payments Loan due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then then, and in every such case case, the BankTrustee may, by written notice to the DistrictAgency, may rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events shall constitute Events of Default shall happenhereunder: (a) Default shall be made in the due and punctual payment Failure by the District Agency to pay the principal of any Series 2023 Installment Payment or fees required to be paid hereunder, interest or prepayment premium (if any) on the Loan or any Contract or Bond, Parity Debt when and as the same shall become due and payable;. (b) Default shall be made Failure by the District in the performance of Agency to observe and perform any of the covenants, agreements or covenants conditions on its part contained herein required in this Loan Agreement, other than as referred to be performed by itin the preceding clause (a), and such default shall have continued for a period of thirty (30) days after written notice, specifying such failure and requesting that it be remedied, has been given to the District knows, or should have known, that such default existsAgency by the Trustee; provided, however, that if in the reasonable opinion of the District Agency the default failure stated in the such notice can be corrected, but not within such 30 thirty (30) day period, and such failure shall not constitute an Event of Default if corrective action is instituted by the District Agency within such 30 thirty (30) day period and thereafter is diligently pursued in good faith until the default such failure is corrected, such default will not be an Event of Default under this Installment Purchase Agreement;. (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made The filing by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing Agency of a notice of judgment lien against petition or answer seeking reorganization or arrangement under the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file a petition seeking arrangement or reorganization under federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition petition, filed with or without the consent of the District Agency, seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if if, under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the District Agency or of the whole or any substantial part of their respective its property; then and . (d) The default in each and every such case during the continuance payment of such any Subordinate Debt. If an Event of Default has occurred and is continuing, the Bank may, by notice in writing to Trustee may (a) declare the District, declare all principal of the Loan, together with accrued interest on all unpaid Series 2023 Installment Payments installments thereof, to be due and payable immediately, and upon any such declaration the same shall will become immediately due and payable, anything contained herein in this Loan Agreement to the contrary notwithstanding, and (b) subject to receipt of satisfactory indemnity, exercise any other remedies available to the Trustee in law or equity arising hereunder. Immediately upon becoming aware of the occurrence of an Event of Default under this Loan Agreement, the Trustee shall give notice of such Event of Default to the Agency by telephone, telecopier or other telecommunication device, promptly confirmed in writing. This Section provision, however, is subject to the condition that if if, at any time after all the principal of the unpaid Series 2023 Installment Payments shall have Loan has been so declared due and payable payable, and before any judgment or decree for the payment of the moneys due shall have has been obtained or entered entered, the District shall Agency will deposit with the Bank Trustee a sum sufficient to pay all installments of principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Loan matured prior to such declarationdeclaration and all accrued interest thereon, with interest on such overdue installments, installments of principal and interest at the net effective rate or rates applicable to then borne by the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsOutstanding Bonds, and the reasonable fees and expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all principal of and interest on the unpaid Series 2023 Installment Payments Loan due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then then, and in every such case case, the BankTrustee may, by written notice to the DistrictAuthority and the Agency, may rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any the right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events shall constitute Events of Default shall happenhereunder: (a) Default if default shall be made by the Successor Agency in the due and punctual payment by of the District principal of or interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable, whether at maturity as therein expressed, by declaration or otherwise; (b) Default if default shall be made by the District Successor Agency in the performance observance of any of the covenants, agreements or covenants contained herein required to be performed by itconditions on its part in this Indenture or in the Bonds or any Parity Debt Instrument contained, other than a default described in the preceding clause (a), and such default shall have continued for a period of thirty (30) days after following receipt by the District knowsSuccessor Agency of written notice from the Trustee or any Owner of the occurrence of such default, or should have known, that such default exists; provided, however, provided that if in the reasonable opinion of the District Successor Agency the default failure stated in the notice can be corrected, but not within such 30 day period, and such failure will not constitute an event of default if corrective action is instituted by the District Successor Agency within such 30 day period and the Successor Agency thereafter diligently pursued and in good faith until the default is corrected, cures such default will not be an Event failure in a reasonable period of Default under this Installment Purchase Agreement;time; or (c) Any financial statement or certificate furnished to If the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file Successor Agency files a petition seeking reorganization or arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall will approve a petition filed with the consent of the District seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or or, if under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall will approve a petition, seeking reorganization under the federal bankruptcy laws or any other applicable law of the United States of America, or, if under the provisions of any other law for the relief or aid of debtors, any court of competent jurisdiction will assume custody or control of the District Successor Agency or of the whole or any substantial part of their respective its property; then and in each and every such case during the continuance of such . If an Event of Default has occurred under this Section and is continuing, the Bank Trustee may, by notice or, if requested in writing to by the District, declare all Owners of a majority in aggregate principal amount of the unpaid Series 2023 Installment Payments Bonds then Outstanding the Trustee shall, (a) declare the principal of the Bonds, together with the accrued interest thereon, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein in this Indenture or in the Bonds to the contrary notwithstanding, and (b) the Trustee shall, subject to the provisions of Section 8.06, exercise any other remedies available to the Trustee and the Bond Owners in law or at equity. Immediately upon receiving notice or actual knowledge of the occurrence of an Event of Default, the Trustee shall give notice of such Event of Default to the Successor Agency by telephone promptly confirmed in writing. Such notice shall also state whether the principal of the Bonds shall have been declared to be or have immediately become due and payable. With respect to any Event of Default described in clauses (a) or (c) above the Trustee shall, and with respect to any Event of Default described in clause (b) above the Trustee in its sole discretion may, also give such notice to the Owners by mail, which shall include the statement that interest on the Bonds shall cease to accrue from and after the date, if any, on which the Trustee shall have declared the Bonds to become due and payable pursuant to the preceding paragraph (but only to the extent that principal and any accrued, but unpaid, interest on the Bonds is actually paid on such date). This Section provision, however, is subject to the condition that if if, at any time after all the principal of the unpaid Series 2023 Installment Payments Bonds shall have been so declared due and payable payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered entered, the District Successor Agency shall deposit with the Bank Trustee a sum sufficient to pay all of principal on the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds matured prior to such declarationdeclaration and all matured installments of interest (if any) upon all the Bonds, with interest on such overdue installments, at the rate or rates applicable installments of principal and interest (to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsextent permitted by law), and the reasonable fees and expenses of the BankTrustee, (including the allocated costs and disbursements of its in-house counsel to the extent such services are not redundant with those provided by outside counsel) and any and all other defaults known to the Bank Trustee (other than in the payment of all principal of and interest on the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then then, and in every such case case, the BankTrustee shall promptly give written notice of the foregoing to the Owners of all Bonds then Outstanding, and the Owners of at least a majority in aggregate principal amount of the Bonds then Outstanding, by written notice to the DistrictSuccessor Agency and to the Trustee, may may, on behalf of the Owners of all of the Bonds, rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events events (herein called “events of Default default”) shall happen, that is to say: (a) Default if default shall be made by the Authority in the due and punctual payment by of the District of interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District Authority in the due and punctual payment of the principal of or redemption premium, if any, on any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for redemption; (c) if default shall be made by the Authority in the performance of any of the other agreements or covenants contained required herein required to be performed by itthe Authority, and such default shall have continued for a period of thirty (30) days after the District knows, or should have known, that such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District Authority shall have been given notice in writingwriting of such default by the Trustee; orexcept that, if such default can be remedied but not within such thirty (30) day period and if the Authority has taken all action reasonably possible to remedy such default within such thirty (30) day period, such default shall not become an event of default hereunder for so long as the Authority shall diligently proceed to remedy the same in accordance with and subject to any directions established by the Trustee; (gd) The District if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinthe State, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Authority or of the whole or any substantial part of their respective its property; or (e) If an Event of Default has occurred under Section 6.01 of the Agreement, then and in each and every such case during the continuance of such Event event of Default default the Bank Trustee may, and upon the written request of the Holders of not less than fifty-one percent (51%) in aggregate principal amount of the Bonds then Outstanding, shall, by notice in writing to the DistrictAuthority, declare the principal of all of Bonds then Outstanding and the unpaid Series 2023 Installment Payments interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein to the contrary notwithstanding. The Trustee shall promptly notify all Holders of any such event of default which is continuing. This Section provision, however, is subject to the condition that if at any time after all the principal of the unpaid Series 2023 Installment Payments Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the moneys money due shall have been obtained or entered the District Authority shall deposit with the Bank Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds matured prior to such declaration, with interest at the rate borne by such Bonds on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsinterest and principal, and the reasonable fees and expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all interest on and principal of the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then and in every such case the Banktthe Holders of not less than fifty-one percent (51%) in aggregate principal amount of Bonds then Outstanding, by written notice to the DistrictAuthority and to the Trustee, may on behalf of the Holders of all the Bonds then Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events events (herein called “events of Default default”) shall happen, that is to say: (a) Default if default shall be made by the Authority in the due and punctual payment by of the District of interest on any Series 2023 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District Authority in the due and punctual payment of the principal of or redemption premium, if any, on any Bond when and as the same shall become due and payable, whether at maturity as therein expressed or by proceedings for redemption; (c) if default shall be made by the Authority in the performance of any of the agreements or covenants contained required herein required to be performed by itthe Authority, and such default shall have continued for a period of thirty sixty (3060) days after the District knows, or should have known, that such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District Authority shall have been given notice in writingwriting of such default by the Trustee; or (gd) The District if the Authority shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Authority seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Authority or of the whole or any substantial part of their respective its property; then and in each and every such case during the continuance of such Event event of Default default the Bank Trustee may, with the written consent of the Bond Insurer, and shall, at the written direction of the Bond Insurer or the Holders of not less than fifty-one percent (51%) in aggregate principal amount of the Bonds then Outstanding with the written consent of the Bond Insurer, by notice in writing to the DistrictAuthority, declare the principal of all of Bonds then Outstanding and the unpaid Series 2023 Installment Payments interest accrued thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein or in the Bonds to the contrary notwithstanding. This The Trustee shall promptly notify all Holders of any such event of default which is continuing and of which the Trustee has notice pursuant to Section however5.02. Such notice shall include a reference to or a summary of the rights and remedies available to the Holders as set forth herein. Upon the occurrence and continuance of an event of default, the Bond Insurer shall be entitled to control and direct the enforcement of all rights and remedies granted to the Holders and the Trustee for the benefit of the Holders under this Trust Agreement, including, without limitation: (i) the right to accelerate the principal of the Bonds as described above and (ii) the right to annul any declaration of acceleration, and the Bond Insurer shall also be entitled to approve all waivers of events of default hereunder. With respect to any reorganization or liquidation plan with respect to the Authority must be acceptable to the Bond Insurer, and in such any reorganization or liquidation, the Bond Insurer shall have the right to vote on behalf of all Holders absent a default by the Bond Insurer under the Bond Insurance Policy. In determining whether an event of default has occurred as described in Section 7.01(a) or (b) or whether payment has been made on the 2014 Series A Bonds, payments made under the Bond Insurance Policy shall not be considered. For all purposes of this Trust Agreement governing events of default and remedies, except for the giving of notice of default to Holders, the Bond Insurer shall be deemed to be the sole holder of the 2014 Series A Bonds it has insured for so long as it has not failed to comply with its payment obligations under the Bond Insurance Policy. The provision above permitting the declaration of the principal of all Bonds then Outstanding and the interest accrued thereon to be due and payable immediately is subject to the condition that if at any time after all the principal of the unpaid Series 2023 Installment Payments Bonds then Outstanding shall have been so declared due and payable and before any judgment or decree for the payment of the moneys money due shall have been obtained or entered the District Authority shall deposit with the Bank Trustee a sum sufficient to pay all matured interest on all the Bonds and all principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Bonds matured prior to such declaration, with interest at the rate borne by such Bonds on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsinterest and principal, and the reasonable expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all interest on and principal of the unpaid Series 2023 Installment Payments Bonds due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then and in every such case the BankHolders of not less than fifty-one percent (51%) in aggregate principal amount of Bonds then Outstanding with the written consent of the Bond Insurer, by written notice to the DistrictAuthority and to the Trustee, may on behalf of the Holders of all the Bonds there Outstanding rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the following Events of Default shall happen: (a) Default if default shall be made by the Agency in the due and punctual payment by the District of any Series 2023 2020 Installment Payment or fees required to be paid hereunder, or any Contract or Bond, Bond when and as the same shall become due and payable; (b) Default if default shall be made by the District Agency in the performance of any of the agreements or covenants contained required herein required or in connection with any Contract or Bond to be performed by it, and such default shall have continued for a period of thirty (30) days after the District knows, or should Agency shall have known, that been given notice in writing of such default exists; provided, however, that if in the reasonable opinion of the District the default stated in the notice can be corrected, but not within such 30 day period, and corrective action is instituted by the District within Authority or, if such 30 day period and diligently pursued in good faith until the default is corrected, such default will not be an Event of Default under this Installment Purchase Agreement; (c) Any financial statement or certificate furnished reasonably susceptible to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing of a notice of judgment lien against the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of cure within thirty (30) days after the District notice thereof, such default shall have been given notice in writing; orcontinued for a period of sixty (60) days; (gc) The District if the Agency shall file a petition or answer seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if a court of competent jurisdiction shall approve a petition filed with or without the consent of the District Agency seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state therein, or if under the provisions of any other law for the relief or aid of debtors any court of competent jurisdiction shall assume custody or control of the District Agency or of the whole or any substantial part of their respective its property; or (d) if payment of the principal of any Contract or Bond is accelerated in accordance with its terms; then and in each and every such case during the continuance of such Event of Default specified in clause (c) and (d) above, the Bank Authority shall, and for any other such Event of Default the Authority may, by notice in writing to the DistrictAgency, declare all the entire principal amount of the unpaid Series 2023 2020 Installment Payments and the accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything contained herein to the contrary notwithstanding. This Section section, however, is subject to the condition that if at any time after all the entire principal amount of the unpaid Series 2023 2020 Installment Payments and the accrued interest thereon shall have been so declared due and payable and before any judgment or decree for the payment of the moneys due shall have been obtained or entered the District Agency shall deposit with the Bank Authority a sum sufficient to pay all the unpaid principal amount of the unpaid Series 2023 2020 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due prior to such declarationdeclaration and the accrued interest thereon, with interest on such overdue installments, at the rate or rates applicable to the remaining unpaid principal balance of the Series 2023 2020 Installment Payments or such Contract or Bond if paid in accordance with their terms, and the reasonable expenses of the BankAuthority, and any and all other defaults known to the Bank Authority (other than in the payment of all the entire principal amount of the unpaid Series 2023 2020 Installment Payments and the accrued interest thereon due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Authority, or provision deemed by the Bank Authority to be adequate shall have been made therefor, then and in every such case the BankAuthority, by written notice to the DistrictAgency, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default or shall impair or exhaust any right or power consequent thereon.

Events of Default and Acceleration of Maturities. If one or more of the The following events shall constitute Events of Default shall happenhereunder: (a) Default shall be made in the due and punctual payment Failure by the District Agency to pay the principal of any Series 2023 Installment Payment or fees required to be paid hereunder, interest or prepayment premium (if any) on the Loan or any Contract or Bond, Parity Debt when and as the same shall become due and payable;. (b) Default shall be made Failure by the District in the performance of Agency to observe and perform any of the covenants, agreements or covenants conditions on its part contained herein required in this Loan Agreement, other than as referred to be performed by itin the preceding clause (a), and such default shall have continued for a period of thirty (30) days after written notice, specifying such failure and requesting that it be remedied, has been given to the District knows, or should have known, that such default existsAgency by the Trustee; provided, however, that if in the reasonable opinion of the District Agency the default failure stated in the such notice can be corrected, but not within such 30 thirty (30) day period, and such failure shall not constitute an Event of Default if corrective action is instituted by the District Agency within such 30 thirty (30) day period and thereafter is diligently pursued in good faith until the default such failure is corrected, such default will not be an Event of Default under this Installment Purchase Agreement;. (c) Any financial statement or certificate furnished to the Bank in connection with the execution and delivery of this Installment Purchase Agreement, or any representation or warranty made The filing by the District shall prove to be incorrect, false or misleading in any material respect when furnished or made; (d) The filing Agency of a notice of judgment lien against petition or answer seeking reorganization or arrangement under the District; or the recording of any abstract of judgment against the District in any county; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of the District; or the entry of a judgment, which lien, abstract, levy or judgment or like process is in excess of $1,000,000 (excluding any amounts paid from Net Proceeds of insurance) against District; (e) Any default in the payment or performance of any material obligation, or any defined event of default, under any provisions of any contract, instrument or document pursuant to which the District has incurred any obligation for borrowed money, any purchase obligation, or any other liability of any kind to any person or entity, including the Bank; (f) There shall exist or occupy any event or condition which materially impairs the prospect of payment or performance by the District of its obligations hereunder, which event or condition continues for a period of thirty (30) days after the District shall have been given notice in writing; or (g) The District shall file a petition seeking arrangement or reorganization under federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if a court of competent jurisdiction shall approve a petition petition, filed with or without the consent of the District Agency, seeking arrangement or reorganization under the federal bankruptcy laws or any other applicable law of the United States of America or any state thereinAmerica, or if if, under the provisions of any other law for the relief or aid of debtors debtors, any court of competent jurisdiction shall assume custody or control of the District Agency or of the whole or any substantial part of their respective its property; then . (d) The default in the payment of any Senior Debt. Subject to the rights and in each and every such case during obligations under the continuance of such Senior Loan Agreement, if an Event of Default has occurred and is continuing, the Bank may, by notice in writing to Trustee may (a) declare the District, declare all principal of the Loan, together with accrued interest on all unpaid Series 2023 Installment Payments installments thereof, to be due and payable immediately, and upon any such declaration the same shall will become immediately due and payable, anything contained herein in this Loan Agreement to the contrary notwithstanding, and (b) subject to receipt of satisfactory indemnity, exercise any other remedies available to the Trustee in law or equity arising hereunder. Immediately upon becoming aware of the occurrence of an Event of Default under this Loan Agreement, the Trustee shall give notice of such Event of Default to the Agency by telephone, telecopier or other telecommunication device, promptly confirmed in writing. This Section provision, however, is subject to the condition that if if, at any time after all the principal of the unpaid Series 2023 Installment Payments shall have Loan has been so declared due and payable payable, and before any judgment or decree for the payment of the moneys due shall have has been obtained or entered entered, the District shall Agency will deposit with the Bank Trustee a sum sufficient to pay all installments of principal of the unpaid Series 2023 Installment Payments or the unpaid payment of any other Contract or Bond referred to in clause (a) above due Loan matured prior to such declarationdeclaration and all accrued interest thereon, with interest on such overdue installments, installments of principal and interest at the net effective rate or rates applicable to then borne by the remaining unpaid principal balance of the Series 2023 Installment Payments or such Contract or Bond if paid in accordance with their termsOutstanding Bonds, and the reasonable fees and expenses of the BankTrustee, and any and all other defaults known to the Bank Trustee (other than in the payment of all principal of and interest on the unpaid Series 2023 Installment Payments Loan due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Bank Trustee or provision deemed by the Bank Trustee to be adequate shall have been made therefor, then then, and in every such case case, the BankTrustee may, by written notice to the DistrictAuthority and the Agency, may rescind and annul such declaration and its consequences; but . However, no such rescission and annulment shall extend to or shall affect any subsequent default default, or shall impair or exhaust any the right or power consequent thereon.