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2020_0518_CCPacket
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2020_0518_CCPacket
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Roseville City Council
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Council Agenda/Packets
Meeting Date
5/18/2020
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Attachment B <br />Document, as applicable, or now or hereafter existing at law or in equity or by statute. No delay <br />or omission to exercise any right or power accruing upon any Event of Default shall impair any <br />such right or power or shall be construed to be a waiver of any such Event of Default or <br />acquiescence therein, and every such right and power may be exercised from time to time and as <br />often as may be deemed expedient. No waiver of any Event of Default hereunder, whether by the <br />Fiscal Agent or the Funding Lender, shall extend to or shall affect any subsequent default or event <br />of default or shall impair any rights or remedies consequent thereto. <br />Upon the occurrence and during the continuance of an Event of Default under Section <br />6.01(c) hereof, the Borrower and its partners shall have the same rights to notice and cure as those <br />conferred upon the Governmental Lender pursuant to Section 6.01(c) and this Section 6.02; <br />provided that, the Borrower and its partners may undertake to cure any such Event of Default only <br />upon the receipt of the prior written consent of the Governmental Lender. <br />Section 6.03 Funding Lender Representative Control of Proceedings. If an Event of <br />Default has occurred and is continuing, notwithstanding anything to the contrary herein, the <br />Funding Lender Representative shall have the sole and exclusive right at any time to direct the <br />time, method and place of conducting all proceedings to be taken in connection with the <br />enforcement of the terms and conditions of this Funding Loan Agreement, or for the appointment <br />of a receiver or any other proceedings hereunder, in accordance with the provisions of law and of <br />this Funding Loan Agreement. In addition, the Funding Lender Representative shall have the sole <br />and exclusive right at any time to directly enforce all rights and remedies hereunder and under the <br />other Financing Documents with or without the involvement of the Fiscal Agent or the <br />Governmental Lender (and in connection therewith the Fiscal Agent shall transfer or assign to the <br />Funding Lender Representative all of its interest in the Pledged Security at the request of the <br />Funding Lender Representative). In no event shall the exercise of any of the foregoing rights result <br />in an acceleration of the Funding Loan without the express direction of the Funding Lender <br />Representative. <br />Section 6.04 Waiver by Governmental Lender. Upon the occurrence of an Event of <br />Default, to the fullest extent that such right may then lawfully be waived, neither the Governmental <br />Lender nor anyone claiming through or under it shall set up, claim or seek to take advantage of <br />any appraisal, valuation, stay, extension or prepayment laws now or hereinafter in force, in order <br />to prevent or hinder the enforcement of this Funding Loan Agreement; and the Governmental <br />Lender, for itself and all who may claim through or under it, hereby waives, to the extent that it <br />lawfully may do so, the benefit of all such laws and all right of appraisement and prepayment to <br />which it may be entitled under the laws of the State and the United States of America. <br />Section 6.05 Application of Money After Default. All money collected by the Fiscal <br />Agent at any time pursuant to this Article shall, except to the extent, if any, otherwise directed by <br />a court of competent jurisdiction, be credited by the Fiscal Agent to the Revenue Fund. Such <br />money so credited to the Revenue Fund and all other money from time to time credited to the <br />Revenue Fund shall at all times be held, transferred, withdrawn and applied as prescribed by the <br />provisions of Article IV hereof and this Section 6.05. <br />In the event that at any time the money credited to the Revenue Fund, the Loan Payment <br />Fund, and the Loan Prepayment Fund available for the payment of interest or principal then due <br /> 42 <br />12502516v3 <br /> <br />
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