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pay the principal of, premium, if any, and interest on the Bonds <br /> when due . <br /> (d) That it will take or cause to be taken such other <br /> action and adopt such further proceedings as may be required to <br /> implement the aforesaid undertakings or as it may deem <br /> appropriate in pursuance thereof. <br /> 3 . Undertakings on the Part of the Company. The <br /> Company agrees as follows : <br /> ( a) That it will cooperate with the Municipality in <br /> the sale and issuance of the Bonds to the end of achieving <br /> timely and favorable marketing thereof. <br /> (b) That it will enter into such lease, l )an <br /> agreement, sale agreement or other appropriate agreement with <br /> the Municipality as the Company and the Municipality determine <br /> to use, under which the Company will obligate itself to pay to <br /> the Municipality rents or payments sufficient to pay the <br /> principal of, premium, if any, and interest on the Bonds when <br /> due. <br /> (c) That it will take such further action and adopt <br /> such further proceedings as may be required to implement the <br /> aforesaid undertakings or as it may deem appropriate in <br /> pursuance thereof. <br /> 4. General Provisions . ( a) This Memorandum of <br /> Intent shall continue in full force and effect until the <br /> Industrial Facilities and its financing by Bonds, as hereinafter <br /> specified, is accomplished, and in this regard it is understood <br /> that there may be separate issues of Bonds, and separate series <br /> within a particular issue, with different maturities, interest <br /> rates, redemption provisions and other details . In the case of <br /> each issue, and of each series, the Municipality will take <br /> appropriate action by ordinance or resolution, to sell and <br /> authorize the Bonds and to authorize and execute such agreements <br /> and documents as may be determined necessary or desirable by the <br /> Municipality and the Company. <br /> (b) The Municipality and the Company will enter into <br /> an agreement whereby the Company will make payments in lieu of <br /> ad valorem taxes in amounts that would be payable if the <br /> Industrial Facilities financed by the Bonds were subject to <br /> property taxation. <br />