1987-139 - Laserfiche WebLink

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F] shall set forth the aggregate principal amount of Bonds to be redeemed, the Registrar and Paying Agent shall give notice of the Issuer's election to redeem Bonds in the aggregate principal amount set forth in such notice in accordance with the Indenture. So long as the Credit Facility is in effect, at least 124 days before the redemption date of any Bonds during any Fixed Rate Period, the Company shall pay to the Trustee the amount of any premium that will be payable upon such redemption of Bonds. Mandatory Redemption Upon Determination of Taxability (Section 7.02) In the event the Company receives notice from the Trustee that a proceeding which could lead to a Determination of Taxability (as defined in the Bonds) has been instituted against a Bondholder, the Company shall promptly notify the Trustee whether or not it intends to contest such proceeding. In the event that the Company chooses to contest such proceeding, it will use its best effort to obtain a prompt final determination or decision in such proceeding or litigation and will keep the Trustee informed of the progress of any such proceeding or litigation. The Company shall be.obligated to prepay all amounts payable under the Loan Agreement upon the occurrence of a Determination of Taxability on a Business Day that is not more than 60 days after receipt by the Company of written notice of the occurrence of such Determination of Taxability; provided, however, that if there shall be delivered to the Trustee an opinion of Bond Counsel to the effect that, if fewer than all of the Bonds are redeemed, the interest payable on the Bonds remaining outstanding will not be includable in the gross income of the holders thereof for federal income tax purposes (other than during any period in which any such holder is a "substantial user" of the Facilities or a "related person" within the meaning of Section 147(a) of the Code), the Company shall be obligated to prepay the amounts payable under the Loan Agreement in part in an amount equal to the aggregate principal amount of the Bonds required to be redeemed. Issuer's Liability Limited (Section 8.04) Neither the execution and delivery of the Loan Agreement nor the carrying out of the Project shall impose any personal liability on the members, officers, employees or agents of the Issuer. No recourse shall be had by any person for any claims based on the Indenture, the Loan Agreement or the Mortgage against any member, officer, employee or other agent of the Issuer in his individual capacity, all such liability, if any, being expressly waived by the Company by the acceptance of the Loan Agreement. In the exercise of the rights, remedies, powers and privileges of the Issuer under the Indenture or the Loan Agreement, the Issuer shall not be accountable to the Company for any action taken or omitted by it or its members, officers, employees and agents in good faith and reasonably believed by it or them to be authorized or within the discretion or rights, remedies, powers and privileges conferred. The Issuer and its members, officers, -44-