Orange County NC Website
Section 4 . 03 . No Advisory or Fiduciary Relationship . The County <br /> acknowledges and agrees as follows ; (a) the Lender is acting solely as a principal for <br /> the purchase of the 2023 Bonds, and not as a municipal advisor, financial advisor or <br /> fiduciary to the County or any other person or entity regardless of whether the <br /> Lender or an affiliate has or is currently acting as such on a separate transaction ; (b ) <br /> the Lender has not assumed any advisory or fiduciary responsibility to the County <br /> with, respect to the transaction contemplated hereby and the discussions, <br /> undertakings and procedures leading thereto ( irrespective of whether the Lender~ or <br /> its affiliates have provided other services or are currently providing other services <br /> to the County on other matters) ; (c) the Lender' s only obligations to the County with <br /> respect to the transaction contemplated are as expressly set out in the financing <br /> documents , and ( d) the County has consulted its own legal, accounting, tax, financial <br /> and other advisors , as applicable, to the extent it has deemed appropriate . <br /> Section 4. 04 . Additional Event of Default. Along with the Events of Default <br /> specified in the Prior Agreement, it shall be an Event of Default if the County 0s <br /> unenhanced general obligation bond rating is downgraded ( but not if ratings are <br /> withdrawn , unless withdrawn forlspecific credit- related reasons) below (a) Baal by <br /> Moody' s Investor ' s Service , Inc ., (b) BBB by S &P Global Ratings or ( c) BBB by Fitch <br /> Ratings , <br /> ARTICLE V <br /> ADDITIONAL PROVISIONS <br /> Section 5 . 01 . Notices . <br /> (a) Any communication provided for in this Supplemental Agreement must <br /> be in English and must be in writing, and " writing" includes facsimile transmission <br /> and electronic mail . <br /> (b ) For the purposes of this Supplemental Agreement, any communication <br /> sent by facsimile transmission or electronic mail will be deemed to have been given <br /> on the date the communication is similarly acknowledged by a County <br /> Representative (in the case of the County) or other authorized representative (in the <br /> case of any other party) , No such communication will be deemed given or effective <br /> 15 <br />