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Agenda - 06-24-1986
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Agenda - 06-24-1986
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10/11/2016 2:43:46 PM
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BOCC
Date
6/24/1986
Meeting Type
Regular Meeting
Document Type
Agenda
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(c) it will promptly provide or cause to be provided <br /> to the Assignee copies of each communication, including, but <br /> not limited to, certificates and financial statements re- <br /> quired by Section 7 .3 of the Loan Agreement, which the <br /> Company sends to the Assignor; <br /> (d) except with the written consent of the Assignee, <br /> none of the Bond Documents will be terminated, modified or <br /> amended (any agreement in violation of the foregoing being <br /> void) , and the Company will not take or omit to take any <br /> action, the taking or omission of which might result in any <br /> alteration or impairment of any of the Bond Documents or <br /> this Assignment; <br /> (e) any notice to the Company by the Assignee shall <br /> have the same force and effect as a notice given by the <br /> Assignor; <br /> (f) without limiting the generality of any of the <br /> foregoing, any consent provided for in any of the Bond <br /> Documents which may be given by the Assignor shall not be <br /> valid unless approved in writing by the Assignee, and no <br /> offer made by the Company under any of the Bond Documents <br /> shall be deemed accepted or rejected by the Assignor without <br /> such approval; and <br /> (g) the Assignee may execute on behalf of the Company <br /> continuation statements and amendments to financing state- <br /> ments with respect to the Bond Documents and this Assignment <br /> under the Uniform Commercial Code. The Company hereby (a) <br /> irrevocably appoints the Assignee as its true and lawful <br /> attorney for such purpose, with full power of substitution, <br /> and (b) ratifies and confirms all that such attorney or any <br /> substitute shall lawfully do by virtue hereof. If so re- <br /> quested by the Assignee, the Company shall ratify and con- <br /> firm all proper continuation statements and amendments to <br /> financing statements as may be designated in any such <br /> request. <br /> (5) Representations of Company <br /> As a further inducement to the Assignee to purchase the Bond <br /> pursuant to the Bond Purchase Agreement, the Company represents <br /> and warrants that (a) it is a corporation incorporated and exist- <br /> ing under the laws of the State of North Carolina, (b) it has <br /> full power , authority and legal right to execute and deliver, and <br /> to perform and observe the provisions of, each of the Bond Docu- <br /> ments and this Assignment, each of which have been duly author- <br /> ized and executed by the Company and each of which is enforceable <br /> against the Company in accordance with its terms, (c) there are <br /> 6. <br />
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