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definitive agreement relating to any such actions, other than pursuant to its terms, if material <br />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 <br />trustee, if material within the meaning of the federal securities laws. <br />O. Incurrence of a Financial Obligation of the City, if material, or agreement to <br />covenants, events of default, remedies, priority rights, or other similar terms of a Financial <br />Obligation of the City, any of which affect security holders, if material; and <br />P. Default, event of acceleration, termination event, modification of terms, or other <br />similar events under the terms of a Financial Obligation of the City, any of which reflect <br />financial difficulties. <br />The City shall notify the MSRB, in an electronic format as prescribed by the MSRB, in a <br />timely manner, of any failure by the City to provide financial information or operating data in <br />accordance with this subsection by the time required. All documents provided to the MSRB <br />pursuant to this subsection shall be accompanied by identifying information as prescribed by the <br />MSRB. <br />(c) Limitations Disclaimers and Amendments. The City shall be obligated to observe <br />and perform the covenants specified in this Section for so long as, but only for so long as, the <br />City remains an "obligated person" with respect to the Bonds within the meaning of the Rule, <br />except that the City in any event will give the notice required by this Ordinance of any Bond <br />calls and defeasance that cause the Bonds to be no longer outstanding. <br />The provisions of this Section are for the sole benefit of the holders and beneficial <br />owners of the Bonds, and nothing in this Section, express or implied, shall give any benefit or <br />any legal or equitable right, remedy, or claim hereunder to any other person. The City <br />undertakes to provide only the financial information, operating data, financial statements, and <br />notices that it has expressly agreed to provide pursuant to this Section and does not hereby <br />undertake to provide any other information that may be relevant or material to a complete <br />presentation of the City's financial results, condition, or prospects relating to the Financing <br />System or hereby undertake to update any information provided in accordance with this Section <br />or otherwise, except as expressly provided herein. The City does not make any representation or <br />warranty concerning such information or its usefulness to a decision to invest in or sell Bonds at <br />any future date. <br />UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER <br />OR BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR <br />TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY <br />THE CITY, WHETHER NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY <br />COVENANT SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND REMEDY OF <br />29 <br />San Marcos GORB2020 - Delegated: Ordinance <br />