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200806452
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200806452
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Last modified
7/29/2008 3:19:50 PM
Creation date
7/29/2008 3:19:46 PM
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DEEDS
Inst Number
200806452
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<br />200806452 <br /> <br />Section 4.17. No Warranty of Condition or Suitability by the Issuer. The Issuer makes <br />no warranty, either express or implied, as to the Project or the condition thereof, or that the Project <br />will be suitable for the purposes or needs of the Company. <br /> <br />Section 4.18. Suspension of Biogas Deliveries. The Company shall notify the Issuer, the <br />Trustee and the Bondholders promptly in writing in the event of any suspension of deliveries of <br />biogas under the Biogas Agreement, except as may occur in conjunction with reasonable and <br />necessary repair and maintenance of the Facility. <br /> <br />ARTICLE V <br /> <br />ISSUANCE OF BONDS; APPLICATION OF BOND PROCEEDS; <br />REFUNDING AND REDEMPTION OF BONDS <br /> <br />Section 5.01. Issuance of Bonds. On the Issue Date and in order to provide funds to <br />finance the Project Costs, the Issuer will issue the Bonds and instruct the Trustee in writing to <br />deliver the Bonds to the Underwriter, all in accordance with the Indenture. <br /> <br />Section 5.02. Application of Bond Proceeds. <br /> <br />(a) The Issuer shall deposit the proceeds of the Bonds with the Trustee, which <br />shall deposit such proceeds into the Construction Fund and the Debt Service Reserve <br />Fund in such amounts as are provided in the Indenture. The amounts so deposited shall <br />be advanced to the Company in the manner provided herein and in the Indenture, and the <br />Company shall repay such advances by making the Rent Payments as provided in this <br />Agreement and the Indenture. <br /> <br />(b) Notwithstanding any provision expressly or inferentially to the contrary <br />contained herein, the Company unconditionally agrees that it shall make or cause to be <br />made Rent Payments in immediately available funds to the Trustee (pursuant to an <br />assignment by the Issuer to the Trustee, as hereinafter described) in lawful money of the <br />United States of America. Upon the issuance and delivery of the Bonds to the <br />Underwriter, and the deposit of the proceeds derived therefrom into the accounts <br />established in the Indenture, the Company shall have received, and the Issuer shall have <br />given, full and complete consideration for the Company's obligation hereunder to make <br />Rent Payments. <br /> <br />Section 5.03. Security for the Bonds. The obligations of the Company under this <br />Agreement, including specifically the obligation to make Rent Payments as provided in <br />Sections 5.02(b), 6.02, 6.03 and 6.06 hereof, shall be direct general obligations of the Company. <br />As additional security for the payments of the Rent Payments and as further consideration for the <br />advances made hereunder, the Biogas Agreement, together with all payments made to the <br />Company under and pursuant to the Biogas Agreement, shall be and are hereby irrevocably <br />assigned to the Trustee, and such payments shall be made directly to the Trustee for deposit into <br />the Lockbox Account of the Bond Fund for application in accordance with the Indenture and when <br />due and payable to the Rent Payments, and otherwise as provided by the Indenture. Prior to or <br />simultaneously with the issuance of the Bonds, the Issuer will pledge and assign to the Trustee <br /> <br />4834-8191-0786.7 <br /> <br />30 <br />
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