Agenda - 06-24-1986 - Laserfiche WebLink

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( f) Failure by the Company to observe and perform any covenant , condition or agreement on the part of the Company under the Note or this Agreement, other than as referred to in the preceding paragraphs of this Section 9 . 1, for a period of 30 days after written notice, specifying such failure and requesting that it be remedied, is given to the Company by the Authority unless the Authority and the Holder shall agree in writing to an extension of such time prior to its expiration. (g) Failure by the Company to pay, when due or within any applicable grace period, any amount owing on account of indebtedness for money borrowed or for deferred purchases of property, or the failure by the Company to observe or perform any covenant or undertaking on its part to be observed or performed in any agreement evidencing, securing or relating to such indebtedness, resulting, in any such case, in an event of default or acceleration by the holder of such indebtedness of the date on which such indebtedness would otherwise be due and payable. Section 9. 2 . Remedies on Default. If Payment of the Bond shall not have been made, whenever any event of default referred to in Section 9 .1 shall have happened, the Authority may take any one or more of the following remedial steps: (a) By written notice declare all installments payable pursuant to the Note for the remainder of the term thereof to be immediately due and payable, whereupon the same shall become immediately due and payable without presentment , demand, protest or any other notice whatsoever, all of which are hereby expressly waived by the Company; provided, however, that upon the occurrence of any event described in Section 9 .1(e) all such amounts shall become immediately due without demand or acceleration. (b) Take whatever other action at law or in equity may appear necessary or desirable to collect the amounts payable pursuant to the Note then due and thereafter to become due or to enforce the performance and observance of any obli- gation, agreement or covenant of the Company under any of the Bond Documents. In the enforcement of the remedies provided in this Section 9. 2, the Authority and the Holder may treat all expenses of enforcement, including, without limitation, legal, accounting and advertising fees and expenses, as additional amounts payable by the Company then due and owing. 29 .