Res 1998-192 - Laserfiche WebLink

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(10) Release, substitution, or sale of property securing repayment of the securities; and (11) Rating changes. (b) Whenever GBRA obtains knowledge of the occurrence of one of the above events, whether because of a notice trom 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) IfGBRA 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 each NRMSIR or the MSRB and each SID. (d) GBRA undertakes to and shall provide annually to each NRMSIR and any SID, within six months after the end of each of its fiscal years following the issuance of the Bonds, financial information with respect to GBRA as specified and included in Table 10 of the final official statement relating to the Bonds 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 the Disclosure Party 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 ofGBRA'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. Neit.her.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 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 ITS PART, OF ANY COVENANT SPECIFIED IN TillS AGREENJENT, BUT EVERY RIGHT AND RENJEDY OF ANY SUCH 3