Orange County NC Website
governmental authority, or the entry of an order confirming a plan of <br /> reorganization, arrangement or liquidation by a court or governmental authority <br /> having supervision or jurisdiction over substantially all of the assets or business of <br /> the Obligated Person . <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 2025 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 /> 2025 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 2025 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 /> i <br /> i <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 /> F <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 15c242 as of the date of the final Official Statement, after <br /> taking into account any amendments or interpretations of Rule 15c242 , as well as <br /> any changes in circumstances ; and <br /> (C) any such modification does not materially impair the interests of the <br /> { <br /> beneficial owners, as determined by the Trustee, by Bond Counsel , or by the <br /> 1 <br /> 16 <br /> I <br /> I <br /> I <br /> i <br />