Laserfiche WebLink
2A4 <br />$1- uu ~v~f <br />ARTICLE VIII. <br />Events of Default and Remedies <br />Section 801. Events of Default. Each of the following <br />events is hereby declared an "event of default", that is to <br />say, if: <br />(a) payment of the principal of, or premium, if any, <br />or payment of any installment of interest on any of the <br />Bonds shall not be made when the same shall become due and <br />payable, either at maturity or by proceedings for redemption <br />or through failure t., fulfill any Amortization Requirements <br />or otherwise and such nonpayment shall continue for a period <br />of thirty (30) consecutive days after written notice '.hereof <br />shall have been given to the Company by the Issuer or the <br />Trustee; or <br />(b) the Issuer shall for any reason be rendered <br />incapable of fulfilling its obligations hereunder; or <br />(c) final judgment for the payment of money shall be <br />rendered against the Issuer as a result of the ownership, <br />control or operation of the Project and any such judgment <br />shall rot be discharged within sixty (50) days from t_he <br />entry thereof or an appeal shall not be taken therefrom ar <br />from the order, decree or process upon which or pursuant to <br />which such judgment shall have been granted or entered, in <br />such manner as to stay the execution of or levy under such <br />judgment, order,, decree or process or the enforcement <br />thereof; or <br />(d) the entry of a decree or order by a court having <br />jurisdiction in the premises for relief in respect of the <br />Company or the Sublessee or adjudging the Company or the <br />Sublessee a bankrupt or insolvent, or approving as properly <br />filed a petition seeking reorganization, adjustment or <br />composition of or in respect of the Company or the Sublessee <br />under the Federal Bankruptcy Act or any other applicable <br />federal or state law, or appointing a custodian, receiver, <br />liquidator, assignee, trustee, sequestrator (or other <br />similar official) of or for the Company o.r the Sublessee ar <br />any substantial part of their respective praperty, or <br />ordering and winding up or liquidation of their respective <br />affairs, and the continuance of any such decree or order <br />unstayed and in effect for a period of sixty (b0) <br />consecutive days; or <br />(e) the commencement by the Company or the Sublessee <br />of a voluntary case or the institution by either of <br />proceedings to be adjudicated a bankrupt or insolvent, or <br />the consent by either to the institution of bankruptcy or <br />insolvency proceedings against either, or the filing by <br />56 <br />L.~ <br /> <br /> <br />