Ordinance 2002-162 - Laserfiche WebLink

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ARTICLE IV LOAN TERM AND LOAN CLOSING REQUIREMENTS SECTION 4.01. Commencement of Loan Term. The Borrower's obligations under this Loan Agreement shall commence on the date hereof unless otherwise provided in this Loan Agreement. SECTION 4.02. Termination of Loan Term. The Borrower's obligations under this Loan Agreement shall terminate after payment in full of all amounts due under this Loan Agreement and all amounts not theretofore paid shall be due and payable at the times and in the amounts set forth in Exhibit D attached hereto; provided, however, that all covenants and all obligations provided hereunder specified to so survive (including the obligation of the Borrower to pay its share of the rebate obligations of the Council owed on the Bonds and agreed to by the Borrowers pursuant to Section 5.03(b)(7) hereof) shall survive the termination ofthis Loan Agreement and the payment in full of principal and interest hereunder. Upon termination ofthe Loan Term as provided above, the Council and the Trustee shall deliver, or cause to be delivered, to the Borrower an acknowledgment thereof. SECTION 4.03. Loan Closing Submissions. Concurrently with the execution and delivery of this Loan Agreement, the Borrower is providing to the Trustee the following documents each dated the date of such execution and delivery unless otherwise provided below: (a) hereto; Certified resolutions ofthe Borrower substantially in the form of Exhibit B attached (b) An opinion ofthe Borrower's Counsel in the form of Exhibit C attached hereto to the effect that the Loan Agreement is a valid and binding obligation ofthe Borrower and opining to such other matters as may be reasonably required by Bond Counsel, underwriter=s counsel and the Bond Insurer and acceptable to Borrower's Counsel; (c) A certificate of the officials of the Borrower who sign this Loan Agreement to the effect that the representations and warranties ofthe Borrower are true and correct; (d) A certificate signed by the Authorized Representative ofthe Borrower, in form and substance satisfactory to Bond Counsel, stating (i) the estimated dates and the amounts ofprojected expenditures for the Project and (ii) that it is reasonably anticipated by the Borrower that the Loan proceeds will be fully advanced therefor and expended by the Borrower prior to '_' and that the projected expenditures are based on the reasonable expectations ofthe Borrower having due regard for its capital needs and the revenues available for the repayment thereof. ( e) This executed Loan Agreement; 18