83-110 Ordinance - Laserfiche WebLink

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Issuer of a revenue ruling (including a private letter ruling), proposed deficiency letter (a so- called "30-day letter"), or other order or direc- tive by the Internal Revenue Service, Department of the Treasury, or any other governmental agency having jurisdiction therein directed to the Proj- ect, the effect of which, in the opinion of the Bondholders, reasonably exercised is to cause such interest to be so includible; provided, however, that a Final Determination shall not be deemed to have occurred so long as the Company shall be in good faith contesting, in proceedings which are available to and deemed appropriate by the Company, any determination herein described and so long as (x) the Company shall have provided to the Bond- holders an opinion of bond counsel to the effect that such contest has a legal basis; and (y) the Company shall pay interest on the Note at the rate currently in effect prior to such Final Determina- tion; and further provided that in the event the Company shall undertake any such contest, the Campany hereby agrees to reimburse and indemnify the Bondholders for and against any expense, inter- est or liability arising out of such contest. (vii) Optional by Bondholders. The Project Bonds shall be called for redemption in whole, at a redemption price of one hundred percent (100$) of the unpaid principal amount thereof, without premium or penalty, plus accrued interest to the date fixed for redemption, at any time after the fifteenth Loan Year, at the option of the Issuer as directed:by the Bondholders, by the Company paying to the Bondholders, and directing the Bondholders on behalf of the Issuer to effect such redemption, provided that the Bondholders shall give to the Company notice of such election not less than 180 days before the redemption date. All redemptions in whole or in part of the Project Bonds shall be effected simultaneously with the correspond- ing prepayments made under the Note, in accordance with Section 7.2 of the Agreement, and any partial redemption shall be of principal installments due on the Project Bonds in the inverse order of the due dates thereof. (f) Place of Payment. The Project Bonds shall be pay- able as to principal and interest in lawful money of the United States at the office of the Bondholders or at such other place as the Bondholders may designate; shall be negotiable instruments (subject to the provisions therein 13