AG 2006 08 21 - Laserfiche WebLink

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(4) unscheduled draws on any credit enhancements reflecting fmancial difficulties; (5) substitution of any credit or liquidity providers, or their failure to perform; (6) adverse tax opinions or events affecting the tax -exempt status of the Bonds; (7) modification to the rights of the beneficial owners of the Bonds; (8) call of any Bonds for redemption; (9) defeasance of any of the Bonds; (10) release, substitution or sale of any property securing repayment of the Bonds; and (11) rating changes; and (d) in a timely manner, to each NRMSIR or to the MSRB, and to the SID, if any, notice of a failure of the County to provide required annual financial information described in (a) or (b) above on or before the date specified. If the County fails to comply with the undertaking described above, any beneficial owner of the Bonds may take action to protect and enforce the rights of all beneficial owners with respect to such undertaking, including an action for specific performance; provided, however, that failure to comply with such undertaking shall not be an event of default and shall not result in any acceleration of payment of the Bonds. All actions shall be instituted, had and maintained in the manner provided in this paragraph for the benefit of all beneficial owners of the Bonds. The County reserves the right to modify from time to time the information to be provided to the extent necessary or appropriate in the judgment of the County, provided that: (a) any such modification may only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law, or change in the identity, nature, or status of the County; 24 F=5