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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 />hereunder, as applicable, the Funding Lender Representative may appoint a successor Fiscal <br />Agent. <br />(b) If, in a proper case, no appointment of a successor Fiscal Agent shall be made <br />pursuant to subsection (a) of this Section 7.11 within sixty (60) days following delivery of all <br />required notices of resignation given pursuant to Section 7.09 hereof or of removal of the Fiscal <br />Agent pursuant to Section 7.10 hereof, the retiring Fiscal Agent may apply to any court of <br />competent jurisdiction to appoint a successor Fiscal Agent. The court may thereupon, after such <br />notice, if any, as such court may deem proper and prescribe, appoint a successor Fiscal Agent. <br />Section 7.12 Concerning Any Successor Fiscal Agent. Every successor Fiscal Agent <br />appointed hereunder shall execute, acknowledge and deliver to its predecessor and also to the <br />Governmental Lender a written instrument accepting such appointment hereunder, and thereupon <br />such successor, without any further act, deed or conveyance, shall become fully vested with all the <br />Pledged Security and the rights, powers, trusts, duties and obligations of its predecessor; but such <br />predecessor shall, nevertheless, on the written request of the Governmental Lender, the Borrower <br />or the Funding Lender Representative, or of its successor, and upon payment of all amounts due <br />such predecessor, including but not limited to fees and expenses of counsel, execute and deliver <br />such instruments as may be appropriate to transfer to such successor Fiscal Agent all the Pledged <br />Security and the rights, powers and trusts of such predecessor hereunder; and every predecessor <br />Fiscal Agent shall deliver all securities and money held by it as Fiscal Agent hereunder to its <br />successor. Should any instrument in writing from the Governmental Lender be required by a <br />successor Fiscal Agent for more fully and certainly vesting in such successor the Pledged Security <br />and all rights, powers and duties hereby vested or intended to be vested in the predecessor, any <br />and all such instruments in writing shall, on request, be executed, acknowledged and delivered by <br />the Governmental Lender. The resignation of any Fiscal Agent and the instrument or instruments <br />removing any Fiscal Agent and appointing a successor hereunder, together with all other <br />instruments provided for in this Article, shall be filed and/or recorded by the successor Fiscal <br />Agent in each recording office where this Funding Loan Agreement shall have been filed and/or <br />recorded. Each successor Fiscal Agent shall mail notice by first class mail, postage prepaid, at <br />least once within 30 days of such appointment, to the Funding Lender. <br />Section 7.13 Successor Fiscal Agent . In the event of a change in the office of Fiscal <br />Agent, the predecessor Fiscal Agent which shall have resigned or shall have been removed shall <br />cease to be Fiscal Agent with respect to the Governmental Note, and the successor Fiscal Agent <br />shall become such Fiscal Agent. <br />Section 7.14 Appointment of Co-Fiscal Agent or Separate Fiscal Agent. It is the intent <br />of the Governmental Lender and the Fiscal Agent that there shall be no violation of any law of any <br />jurisdiction (including particularly the laws of the State) denying or restricting the right of banking <br />corporations or associations to transact business as Fiscal Agent in such jurisdiction. It is <br />recognized that in case of litigation under or connected with this Funding Loan Agreement, the <br />Project Loan Agreement or any of the other Financing Documents, and, in particular, in case of <br />the enforcement of any remedies on default, or in case the Fiscal Agent deems that by reason of <br />any present or future law of any jurisdiction it may not exercise any of the powers, rights or <br />remedies herein or therein granted to the Fiscal Agent or hold title to the properties in trust, as <br /> 52 <br />12502516v3 <br /> <br />
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