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2008-11-01
CITY-OF-BATESVILLE
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2008-11-01
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• ARTICLE VII <br /> ASSIGNMENT, LEASING AND SELLING <br /> Section 7.1. Conditions. The Company's interest in this Lease Agreement maybe assigned <br /> in whole or in part, and the Premises may be subleased as a whole or in part (whether a specific <br /> element or unit or an undivided interest),by the Company, subject, however, to the condition that <br /> no assignment or sublease shall relieve the Company from liability for its obligations hereunder, <br /> other than(a) those obligations relating to the utilization of the Premises which obligations, to the <br /> extent of the interest assigned, leased or sold, shall be deemed to be satisfied and discharged, and <br /> (b) as described in Section 6.1 hereof. <br /> Section 7.2. Instrument Furnished to Trustee. The Company shall,within fifteen(15) days <br /> after the delivery thereof, furnish to the Issuer and the Trustee a true and complete copy of the <br /> agreements or other documents effectuating any such assignment, lease or sale. <br /> Section 7.3. Limitation. This Lease Agreement shall not be assigned nor shall the <br /> Premises be leased or sold, in whole or in part, except as provided in this Article VII or in Section <br /> 5.4 or 6.1 hereof. <br /> Section 7.4. Assignment of Issuer's Rights. As security for the payment of the Bonds, the <br /> Issuer will assign to the Trustee the Issuer's rights under this Lease Agreement(except for the Issuer's <br /> • rights under Sections 5.3(c), 6.2, 6.5 and 8.5 hereof and any rights of the Issuer to receive notices, <br /> certificates,or other communications hereunder),including the right to receive payments hereunder <br /> and the proceeds thereof, and hereby directs the Company to make said payments,or to cause said <br /> payments to be made, directly to the Trustee. The Company herewith consents to such assignment <br /> and will make payments, or cause payments to be made, directly to the Trustee without defense or <br /> set-off by reason of any dispute between the Company and the Issuer or the Trustee. <br /> 20 <br />
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