Orange County NC Website
18 <br /> If the County fails to comply with the undertaking described above, any <br /> beneficial owner of the Bonds may take action to protect and enforce the rights of all <br /> beneficial owners with respect to such undertaking, including an action for specific <br /> performance; provided, however, that failure to comply with such undertaking will <br /> not be an event of default and will not result in any acceleration of payment of the <br /> Bonds. All actions will be instituted, had and maintained in the manner provided in <br /> this paragraph for the benefit of all beneficial owners of the Bonds. <br /> The County shall provide the documents and other information referred to <br /> above to the MSRB in an electronic format as prescribed by the MSRB and <br /> accompanied by identifying information as prescribed by the MSRB. <br /> The County may discharge its undertaking as set forth in this resolution by <br /> providing such information in any manner that the United States Securities and <br /> Exchange Commission subsequently authorizes in lieu of the manner described <br /> above. <br /> The County reserves the right to modify from time to time the information to <br /> be provided to the extent necessary or appropriate in the County's judgment, <br /> provided that: <br /> (a) any such modification may only be made in connection with a change in <br /> circumstances that arises from a change in legal requirements, change in law, or <br /> change in the identity, nature, or status of the County; <br /> (b) the information to be provided, as modified, would have complied with <br /> the requirements of Rule 1Sc2-12 as of the date of the final Official Statement, after <br /> taking into account any amendments or interpretations of Rule 15c2-12, as well as <br /> any changes in circumstances; and <br /> (c) any such modification does not materially impair the interests of the <br /> beneficial owners, as determined either by parties unaffiliated with the County or by <br /> the approving vote of the registered owners of a majority in principal amount of the <br /> Bonds pursuant to the terms of the bond resolution, as it may be amended from time <br /> to time, at the time of the amendment. <br />