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2008-11-01
CITY-OF-BATESVILLE
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2008-11-01
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• Section 11.2. Severability. If any provision of this Lease Agreement shall be held or <br /> deemed to be or shall,in fact,be illegal,inoperative or unenforceable,the same shall not affect any <br /> other provision or provisions herein contained or render the same invalid, inoperative, or <br /> unenforceable to any extent whatever. <br /> Section 11.3. Execution of Counterparts. This Lease Agreement may be simultaneously <br /> executed in several counterparts,each of which shall be an original and all of which shall constitute <br /> but one and the same instrument. <br /> Section 11.4. Amounts Remaining in Bond Fund. It is agreed by the parties hereto that after <br /> payment in full of (i) the Bonds (or the provision for payment thereof having been made in <br /> accordance with the provisions of the Indenture), (ii)the fees, charges and expenses of the Trustee <br /> and paying agents (if any) in accordance with the Indenture, and(iii) all other amounts required to <br /> be paid under this Lease Agreement and the Indenture, any amounts remaining in the Bond Fund <br /> shall belong to and be paid by the Trustee to the Company. <br /> Section 11.5. Amendments, Changes and Modifications. Except as otherwise provided in <br /> this Lease Agreement or the Indenture, subsequent to the initial issuance of Bonds and prior to <br /> payment in full of the Bonds(or the provision for payment thereof having been made in accordance <br /> with the provisions of the Indenture), this Lease Agreement may not be effectively amended, <br /> changed,modified, altered or terminated nor any provision waived,without the written consent of <br /> the Trustee. <br /> • Section 11.6. Governing Law. This Lease Agreement shall be governed exclusivelyby and <br /> construed in accordance with the applicable laws of the State of Arkansas. <br /> Section 11.7. Company Representatives. A Company Representative shall act on behalf of <br /> the Company whenever the approval of the Company is required or the Company requests the Issuer <br /> to take some action, and the Issuer and the Trustee shall be authorized to act on any such approval <br /> or request and neither party hereto shall have any complaint against the other or against the Trustee <br /> as a result of any such action taken. <br /> Section 11.8. No Personal Liabili . No covenant or agreement contained in this Lease <br /> Agreement shall be deemed to be the covenant or agreement of any official, officer, agent, or <br /> employee of the Issuer in his individual capacity,and no such person shall be subject to any personal <br /> liability or accountability by reason of the issuance thereof. <br /> Section 11.9. Parties in Interest. This Lease Agreement shall inure to the benefit of and shall <br /> be binding upon the Issuer,the Company and their respective successors and assigns, and no other <br /> person, firm or corporation shall have any right, remedy or claim under or by reason of this Lease <br /> Agreement; provided, however, that any obligation of the Issuer created by or arising out of this <br /> Lease Agreement shall be payable solely out of the revenues derived from this Lease Agreement or <br /> the sale of the Bonds or income earned on invested funds as provided in the Indenture and shall not <br /> • <br /> 28 <br />
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