1995-083 - Laserfiche WebLink

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EXHIBIT C INFORMATION TO BE GIVEN TO AMBAC AMBAC requires that the following notice provisions be incorporated in the Financing Document: A. While the Municipal Bond Insurance Policy is in effect, the Issuer* or the Trustee [as appropriate] shall furnish to AMBAC Indemnity (to the attention of the Surveillance Department, unless otherwise indicated): (a) as soon as practicable after the filing thereof, a copy of any financial statement of the Issuer* and a copy of any audit and annual report of the Issuer*; (b) a copy of any notice to be given to the registered owners of the Bonds, including, without limitation, notice of any redemption of or defeasance of Bonds, and any certificate rendered pursuant to this I'Financing Document] relating to the security for the Bonds; and (c) such additional information it may reasonably request. A. The Trustee or Issuer* [as appropriate] shall notify AMBAC Indemnity of any failure of the Issuer* to provide relevant notices, certificates, etc. B. The Issuer* will permit AMBAC Indemnity to discuss the affairs, finances and accounts of the Issuer* or any information AMBAC Indemnity may reasonably request regarding the security for the Bonds with appropriate officers of the Issuer*. The Trustee or Issuer* [as appropriate] will permit AMBAC Indemnity to [have access to the Project and] have access to and to make copies of all books and records relating to the Bonds at any reasonable time. C. AMBAC Indemnity shall have the right to direct an accounting at the Issuer's* expense, and the Issuer's* failure to comply with such direction within thirty (30) days after receipt of written notice of the direction from AMBAC Indemnity shall be deemed a default hereunder, provided, however, that if compliance cannot occur within such period, then such period will be extended so long as compliance is begun within such period and diligently pursued, but only if such extension would not materially adversely affect the interests of any registered owner of the Bonds. D. Notwithstanding any other provision of this [Financing Document], the Trustee or Issuer* [as appropriate] shall immediately notify AMBAC Indemnity if at any time there are insufficient moneys to make any payments of principal and/or interest as required and immediately upon the occurrence of any event of default hereunder. E. [FOR CALIFORNIA AND INDIANA (ABATEMENT STYLE) LEASES] The Trustee or Issuer [as appropriate] shall annually certify to AMBAC that the insurance policies required by Section of the [Leaselindenture] are in full force and effect, and will provide AMBAC with copies of such policies upon request. 6 *or appropriate obligor on the Bonds.