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(b) Certain Event Notices. The City shall notify the MSRB, in an electronic format as <br /> prescribed by the MSRB,in a timely manner not in excess of ten business days after the occurrence <br /> of the event, of any of the following events with respect to the Bonds: <br /> A. Principal and interest payment delinquencies; <br /> B. Non-payment related defaults,if material within the meaning of the federal securities <br /> laws; <br /> C. Unscheduled draws on debt service reserves reflecting financial difficulties; <br /> D. Unscheduled draws on credit enhancements reflecting financial difficulties; <br /> E. Substitution of credit or liquidity providers, or their failure to perform; <br /> F. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or <br /> final determinations of taxability,Notices of Proposed Issue(IRS Form 5701—TEB)or other <br /> material notices or determinations with respect to the tax status of the Bonds,or other events <br /> affecting the tax status of the Bonds. <br /> G. Modifications to rights of holders of the Bonds,if material within the meaning of the <br /> federal securities laws; <br /> H. Bond calls, if material within the meaning of the federal securities laws and tender <br /> offers; <br /> I. Defeasances; <br /> 7. Release,substitution,or sale of property securing repayment of the Bonds,if material <br /> within the meaning of the federal securities laws; <br /> K. Rating changes; <br /> L. Bankruptcy, insolvency,receivership or similar event of the City; <br /> M. The consummation of a merger, consolidation, or acquisition involving the City or <br /> the sale of all or substantially all of the assets of the City,other than in the ordinary course of <br /> business,the entry into a definitive agreement to undertake such an action or the termination <br /> of a definitive agreement relating to any such actions, other than pursuant to its terms, if <br /> material within the meaning of the federal securities laws; and <br /> N. Appointment of a successor or additional trustee or the change of name of a trustee,if <br /> material within the meaning of the federal securities laws. <br /> 27 <br /> Se/Naxos 00132018.ONirenceGO <br />