Orange County NC Website
45 <br /> (6) adverse tax opinions, the issuance by the Internal Revenue Service of <br /> proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form <br /> 5701-TEB) or other material notices or determinations with respect to the tax <br /> status of the 2024 Bonds, or other material events affecting the tax status of the <br /> 2024 Bonds; <br /> (7) modifications to rights of the beneficial owners of the 2024 Bonds, if <br /> material; <br /> (8) calls for redemption of 2024 Bonds (other than calls pursuant to <br /> sinking fund redemption), if material, and tender offers; <br /> (9) defeasances; <br /> (10) release, substitution or sale of any property securing repayment of the <br /> 2024 Bonds, if material; <br /> (11) rating changes; <br /> (12) bankruptcy, insolvency, receivership or similar proceedings related to <br /> the County, the Trustee or any other person or entity that may at any time become <br /> legally obligated to make Bond Payments (collectively, the "Obligated Persons"); <br /> (13) The consummation of a merger, consolidation, or acquisition involving <br /> an Obligated Person or the sale of all or substantially all of the assets of the <br /> Obligated Person, other than in the ordinary course of business, the entry into a <br /> definitive agreement to undertake such an action or the termination of a definitive <br /> agreement relating to any such actions, other than pursuant to its terms, if material; <br /> (14) Appointment of a successor or additional trustee or the change of name <br /> of a trustee, if material; <br /> (15) Incurrence of a financial obligation (as defined below) of the County, if <br /> material, or agreement to covenants, events of default, remedies, priority rights, or <br /> other similar terms of a financial obligation of the County, any of which affect <br /> Bondholders, if material; and <br /> 16 <br />