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L. Bankruptcy, insolvency, receivership or similar event of the City; <br /> M. The consummation of a merger, consolidation, or acquisition involving the <br /> City or the sale of all or substantially all of the assets of the City, other <br /> than in the ordinary course of business, the entry into a definitive <br /> 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 <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 <br /> a 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 <br /> to covenants, events of default, remedies, priority rights, or other similar <br /> terms of a Financial Obligation of the City, any of which affect security <br /> holders, if material; and <br /> P. Default, event of acceleration, termination event, modification of terms, or <br /> other similar events under the terms of a Financial Obligation of the City, <br /> any of which reflect financial difficulties. <br /> "Financial Obligation" means a(a) debt obligation; (b) derivative instrument entered into <br /> in connection with, or pledged as security or a source of payment for, an existing or planned debt <br /> obligation; or (c) guarantee of a debt obligation or any such derivative instrument; provided that <br /> "financial obligation" shall not include municipal securities as to which a final official statement <br /> (as defined in the Rule)has been provided to the MSRB consistent with the Rule. <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 subsection (a) of this Section by the time required by such subsection. All <br /> documents provided to the MSRB pursuant to this Section shall be accompanied by identifying <br /> information as prescribed by the MSRB. <br /> (c) Limitations Disclaimers and Amendments. The City shall be obligated to <br /> observe and perform the covenants specified in this Section for so long as, but only for so long <br /> as, the City remains an "obligated person" with respect to the Certificates within the meaning of <br /> the Rule, except that the City in any event will give notice of any deposit made in accordance <br /> with Section 12.02 of this Ordinance that causes the Certificates no longer to be outstanding. <br /> The provisions of this Section are for the sole benefit of the holders and beneficial <br /> owners of the Certificates, and nothing in this Section, express or implied, shall give any benefit <br /> or 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 which it has expressly agreed to provide pursuant to this Section and does not hereby <br /> SAN NARCOS\CTRCO2024: Ordinw— <br />