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39 <br /> Upon any"Rate Adjustment Event," as defined below, (a) the unpaid principal of <br /> the this Bond will continue to be payable as shown in Schedule I,but (b) the interest on <br /> the this Bond shall be recalculated, at an interest rate equal to an annualized interest <br /> rate equal to the "Prime Rate," as defined below, plus 2% (200 basis points),to the date <br /> (retroactively, if need be) determined pursuant to the Rate Adjustment Event to be the <br /> date interest became includable in any Bondholder's gross income for federal income <br /> tax purposes. The Bondholder shall promptly prepare a substitute debt service <br /> schedule reflecting the new interest rate and resulting payment schedule, and deliver <br /> a copy of the new schedule to the County, the Trustee (as defined below) and to the <br /> LGC (as defined below). <br /> The County shall pay interest at each adjusted rate as in effect from time to <br /> time (subject to credit for interest previously paid) to each affected Bondholder, <br /> notwithstanding the fact that any particular Bondholder may not be a Bondholder on <br /> the date of a Rate Adjustment Event. The County shall additionally pay to all affected <br /> Bondholders any interest, penalties or other charges assessed against or payable by <br /> such Bondholder and attributable to a Rate Adjustment Event, notwithstanding the <br /> prior repayment of this Bond in full or any transfer to another Bondholder. The <br /> Trustee has no responsibility to calculate any such additional interest, <br /> penalties or charges, or to confirm that any have been paid, with those matters <br /> lying only between the County and the affected Bondholders. <br /> "Rate Adjustment Event" means (1) any action by the Internal Revenue Service <br /> (including the delivery of a deficiency notice) or any other federal court or <br /> administrative body or (2) receipt by the Bondholder of an opinion of nationally- <br /> recognized bond counsel acceptable to the County, in either case determining in effect <br /> that interest on the this Bond is includable in gross income for federal income tax <br /> purposes as a result of (i) any action the County takes, or fails to take, or (ii) any <br /> representation made by the County being a misrepresentation. <br /> "Prime Rate" means the rate by that name published by Capital One Bank, N.A., <br /> as in effect from time to time, whether or not that bank or any affiliate at any time is <br /> the registered Bondholder. <br /> 18 <br />