Orange County NC Website
46 <br /> If the County fails to comply with the undertaking described above, the <br /> Trustee may take action to protect and enforce the rights of all the beneficial owners <br /> of the 202S Bonds 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 /> 202S Bonds. All actions will be instituted, had and maintained in the manner <br /> provided in this paragraph for the benefit of all beneficial owners of the 202S Bonds. <br /> The County must 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 Section 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, or the presentation of the information to be provided, to the extent <br /> necessary or appropriate in the County's judgment, provided that: <br /> (A) any such modification may only be made in connection with a change <br /> in 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 1Sc2-12, 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 by the Trustee, by Bond Counsel, or by the <br /> approving vote of the Majority Owners pursuant to the terms of this Agreement, as <br /> it may be amended from time to time, at the time of the amendment. <br /> Any annual financial information containing modified operating data or <br /> financial information will explain, in narrative form, the reasons for the modification <br /> 17 <br />