Res 2010-108 - Laserfiche WebLink

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(9) Defeasances; and (10) Release, substitution, or sale ofproperty securing repayment ofthe securities; (11) Rating changes. (b) Whenever GBRA obtains knowledge of the occurrence of one of the above events or as otherwise provided in this Agreement, whether because of a notice from the Disclosure Party pursuant to Section 2 or otherwise, GBRA shall, in a timely manner, determine if such event would constitute material information for bondholders and beneficial owners of Bonds. (c) If GBRA determines that the occurrence of one of the above events is material within the meaning of applicable federal securities laws and regulations promulgated thereunder, GBRA shall promptly file a notice of such occurrence with the MSRB through EMMA. SECTION 4. LIMITATIONS. DISCLAIMERS, AND AMENDMENTS GBRA and the Disclosure Party shall be obligated to observe and perform the covenants specified in this Agreement for so long as, but only for so long as, the Disclosure Party remains an "obligated person" with respect to the Bonds within the meaning of the Rule, except that GBRA in any event will give notice of any deposit made that causes the Bonds no longer to be outstanding. The provisions of this Agreement are for the sole benefit of (and may be enforced by) the bondholders and beneficial owners of the Bonds and the parties to this Agreement, and nothing in this Agreement, express or implied, shall give any benefit or any legal or equitable right, remedy, or claim hereunder to any other person. GBRA and the Disclosure Party undertake to provide only the financial information, operating data, financial statements, and notices which each has expressly agreed to provide pursuant to this Agreement and do not hereby undertake to provide any other information that may be relevant or material to a complete presentation of GBRA's or the Disclosure Party's financial results, condition, or prospects or hereby undertake to update any information provided in accordance with this Agreement or otherwise, except as expressly provided herein. Neither GBRA nor the Disclosure Party make any representation or warranty concerning such information or its usefulness to a decision to invest in or sell the Bonds on the date hereof or at any future date. UNDER NO CIRCUMSTANCES SHALL GBRA OR THE DISCLOSURE PARTY BE LIABLE TO THE BONDHOLDER OR BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY GBRA OR THE DISCLOSURE PARTY, RESPECTIVELY, WHETHER NEGLIGENT OR WITHOUT FAULT ON THEIR PART, OF ANY COVENANT SPECIFIED IN THIS AGREEMENT, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE.