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2001-072
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2001-072
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Last modified
2/7/2017 12:06:43 PM
Creation date
9/30/2015 5:11:33 PM
Metadata
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Resolutions
Resolution Number
2001-072
Approved Date
08/07/2001
Resolution Type
Bonds
Entity Name
Dodgertown
Subject
Revenue Bonds Spring Training Facility Series 2011
Spring Training Facility
Area
Dodgertown
Archived Roll/Disk#
2745
Supplemental fields
SmeadsoftID
2584
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SECTION 21. DEFAULTS; EVENTS OF DEFAULT AND REMEDIES. Except as <br /> provided below, if any of the following events occur it is hereby defined as and declared to be and <br /> to constitute an "Event of Default": <br /> (A) Default in the due and punctual payment of any interest on the Bonds; <br /> (B) Default in the due and punctual payment of the principal of and premium, if any, on <br /> any Bond, at the stated maturity thereof, or upon proceedings for redemption thereof, <br /> (C) Default in the performance or observance of any other of the covenants, agreements <br /> or conditions on the part of the Issuer contained in this Resolution or in the Bonds and the <br /> continuance thereof for a period of thirty (30) days after written notice to the Issuer given by the <br /> Holders of not less than twenty-five percent(25%)of aggregate principal amount of Bonds then Out- <br /> standing(provided, however, that with respect to any obligation, covenant, agreement or condition <br /> which requires performance by a date certain, if the Issuer performs such obligation, covenant, <br /> agreement or condition within thirty (30) days of written notice as provided above, the default shall <br /> be deemed to be cured); <br /> (D) Failure by the Issuer promptly to remove any execution, garnishment or attachment <br /> of such consequence as will materially impair its ability to carry out its obligations hereunder; <br /> (E) Any act of bankruptcy or the rearrangement, adjustment or readjustment of the <br /> obligations of the Issuer under the provisions of any bankruptcy or moratorium laws or similar laws <br /> relating to or affecting creditors' rights; or <br /> The term "default" shall mean default by the Issuer in the performance or observance of any <br /> of the covenants, agreements or conditions on its part contained in this Resolution, any supplemental <br /> resolution or in the Bonds, exclusive of any period of grace required to constitute a default or an <br /> "Event of Default" as hereinabove provided. <br /> For purposes of Section 21 (A)and(B)hereof, no effect shall be given to any payments made <br /> under any Bond Insurance Policy. <br /> Any Holder of Bonds issued under the provisions hereof or any trustee acting for the Holders <br /> of such Bonds, may either at law or in equity, by suit, action, mandamus or other proceedings in any <br /> court of competent jurisdiction, protect and enforce any and all rights, including the right to the <br /> appointment of a receiver, existing under State or federal law, or granted and contained herein, and <br /> may enforce and compel the performance of all duties required herein or by any applicable law to be <br /> performed by the Issuer or by any officer thereof. <br /> Nothing herein, however, shall be construed to grant to any Holder of the Bonds any lien on <br /> any property of the Issuer, except the Pledged Revenues. <br /> 19 <br />
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