Agenda - 06-24-1986 - Laserfiche WebLink

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the Bond or any part thereof or any interest therein to another bank or to an insurance company or other financial institution; provided, however, that no public offering of all or any part of the Bond or of any interest therein shall be made. The Purchaser understands that the Bond has not been registered under the Securities Act of 1933 , as amended. The Purchaser acknowledges that in purchasing the Bond it is not relying upon any representations of the Authority with respect to the financial quality of the Bond. The Purchaser is relying solely upon statements and representations of the Company and upon its own knowledge and investigation of the facts and circumstances relating to the purchase of the Bond. The Purchaser represents that it has made its own independent evaluation of the creditworthiness of the Company. The Authority and the Company have made available to the Purchaser, during the course of the transaction and prior to the purchase of the Bond, the opportunity to ask questions and receive answers from such parties concerning the terms and conditions of the Bond offering and to obtain such additional information relative to the financial data and business of such parties and such property to be conveyed in trust or otherwise used as security, to the extent that such parties possess such information or can acquire it without unreasonable effort or expense, as the Purchaser shall have deemed necessary and appropriate in the circumstances. The Bond shall be issued in a form payable to the Purchaser or a subsequent Holder, and the Purchaser shall be deemed and regarded as the absolute owner thereof for all purposes and payment of or on account of the principal of and interest on the Bond shall be made only to or upon the order of the Purchaser, whether or not any transfer thereof shall be made, until the Authority and the Company shall have received from the transferor written notice of such transfer, including the name and address of the transferee. All such payments shall be valid and effectual to satisfy and discharge the liability upon the Bond to the extent of the sums so paid whether or not any transfer thereof shall be made, until the Authority and the Company shall have received written notice of such transfer, including the name and address of the transferee. Each transferor shall give, within 10 days after any disposition of the Bond or of any interest therein, written notice to the Authority and the Company of such disposition. Thereafter, the transferee, if the disposition otherwise complies with the requirements of this Section, shall be deemed a Holder for purposes of this Agreement and shall succeed to the rights and be bound by the obligations of a Purchaser hereunder . 8.