1987-139 - Laserfiche WebLink

Home Browse Search

• Authorized New York Newspaper a notice that such moneys remain unclaimed and that, after a date named in such notice, which date shall be not fewer than 40 nor more than 90 days after the date of publication of such notice, the balance of such moneys then unclaimed shall be returned to the Company. Issuer Protected in Acting in Good Faith (Section 11.06) In the exercise of the powers of the Issuer and its members, officers, employees and agents under the Indenture, the Loan Agreement or the Mortgage, including (without limitation) the application of moneys and the investment of funds, the Issuer shall not be accountable to the Trustee, the Credit Facility Provider or any Bondholder for any action taken or omitted by it or its members, officers, employees and agents in good faith and believed by it or them to be authorized or within the discretion or rights or powers conferred. The Issuer and such members, officers, employees or agents shall be protected in its or their acting upon any paper or document reasonably believed in good faith by it or them to be genuine, and it or -they may conclusively rely upon the advice of counsel as to matters of law and may (but need not) require further evidence of any fact or matter before taking any action. No recourse shall be had by the Trustee, the Credit Facility Provider or any Bondholder for any claims based on the Indenture, the Loan Agreement or the Mortgage, against any member, officer, employee or agent of the Issuer alleging personal liability on the part of such person unless such claims are based upon the bad faith, fraud or deceit of such person. Business Days (Section 11.11) Except as otherwise expressly provided in the Indenture, if any date specified for the payment of any Bond or the performance of any act shall not be a Business Day, such payment or performance shall be made on the next succeeding Business Day with the same effect as if made on such date, and in case any payment of the principal or Redemption Price of or interest on any Bond shall be due on a date that is not a Business Day, such payment shall be made on the immediately succeeding Business Day and no interest shall accrue on the amount of such payment during the intervening period. SUMMARY OF CERTAIN PROVISIONS OF THE LOAN AGREEMENTS The following is a summary of certain provisions of the Loan Agreements. Each Loan Agreement will operate independently of every other Loan Agreement and a default under one Loan Agreement will not necessarily constitute a default under any other Loan Agreement. The Loan Agreements contain similar terms, except as herein noted, and the following is a summary of certain provisions which are common to all of the Loan Agreements. All references in this summary are to the documents, parties, actions, Issuer, Bonds, Project, Credit Facility and Credit Facility Provider relating to the Loan Agreement for the Bonds of a single Issue. This is not a complete recital of the terms of each Loan Agreement and reference should be made to -39-