81006050 - Laserfiche WebLink

Browse

2A4 $l++ i1i~h~~?~c either of a petition or answer or consent seeking reorganization, arrangement or relief under the Federal Bankruptcy Act or any other applicable federal or state law, or the consent or acquiescence by either to the filing of any such ~.etition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or the Sublessee or any substantial part of their respective property, or the making by either of an assignment for the benefit of creditors, or the admission by either in writing of their respective inability, or failure to pay their respective debts generally as they .become due, or the taking of official action by the Company or the Sublessee in furtherance of any such action; or (f) the Issuer shall default in the due and F+in~tual performance of any other of the covenants, conditions, agreements and provisions contained in the Bonds or in this Indenture on the part of the Issuer to be performed, and such default shall continue for thirty (30) days after the date shown on said written notice specifying such default and requiring same to be remedied shall have been given to the Issuer by the Trustee, which may give such notice in its discretion and shall give such notice at the written request of the holders of not less than fifty-one percent (51%) in aggregate principal amount of the Bonds then outstanding; or (g) the Company or the Sublessee shall default in the due and punctual performance of any of the covenants, conditions, agreements and provisions on its part to be performed or observed under the Lease or Sublease, respectively, and such default shall continue for a period of sixty (60) consecutive days after the date shown on said written notice specifying such default and requiring the same to be remedied shall have been given to the Company or the Sublessee, as the case may be, by the Trustee or the Issuer. In the event of any such default, the lien on the Project created and vested by this Indenture may be foreclosed either by public sale or by proceedings in equity and the Trustee or the holder or holders of any of the Bonds then outstanding may become the purchaser at any foreclosure sale, if the highest bidder. In the event the Trustee purchases the Project at any such fnreclosure sale, it shall have the right and authority to manage, lease and sell the same on whatever terms and conditions it deems to be in the best interests of the Bondholders, including determination as to price and method of payment, including the carrying back of part or all of the purchase price by notes and mortgages. 57 ^ ~.._..