Events of Default and Remedies Therefor. Any one or more of the following shall constitute an Event of Default hereunder:
Events of Default and Remedies Therefor. 14 Section 5.1. Events of Default 14 Section 5.2. Remedies Cumulative 15 Section 5.3. Delay or Omission Not a Waiver 15 Section 5.4. Waiver of Extension, Appraisement or Stay Laws 15 Section 5.5. Remedies Subject to Provisions of Law 15 ARTICLE VI. IMMUNITY 16 Section 6.1. Immunity 16 ARTICLE VII. SUPPLEMENTS AND AMENDMENTS TO THIS FINANCING AGREEMENT 17 Section 7.1. Supplements and Amendments to this Financing Agreement 17 ARTICLE VIII. DEFEASANCE 18 Section 8.1. Defeasance 18 ARTICLE IX. MISCELLANEOUS PROVISIONS 19 Section 9.1. Financing Agreement for Benefit of Parties Hereto 19 Section 9.2. Severability 19 Section 9.3. Limitation on Interest 19 Section 9.4. Addresses for Notice and Demands 19 Section 9.5. Successors and Assigns 20 Section 9.6. Counterparts 20 Section 9.7. Governing Law 20 FINANCING AND COVENANT AGREEMENT This is a FINANCING AND COVENANT AGREEMENT, dated as of August 1, 2022 ("Financing Agreement") between THE FARM AT ZIONSVILLE JV, LLC, a limited liability company duly organized and validly existing under the laws of the State of Indiana ("Company"), and the TOWN OF ZIONSVILLE, INDIANA, a municipal corporation duly organized and validly existing under the laws of the State of Indiana ("Issuer" and "Town"). Indiana Code, Title 36, Article 7, Chapters 11.9, 12, 14 and 25 as supplemented and amended (collectively, "Act"), authorizes and empowers the Issuer to issue revenue bonds and to provide the proceeds therefrom for the purpose of financing costs of economic development facilities and infrastructure for diversification of economic development and promotion of job opportunities in or near such Issuer and vests the Issuer with powers that may be necessary to enable it to accomplish such purposes; The Zionsville Redevelopment Commission ("Redevelopment Commission") did on March 28, 2022, adopt a declaratory resolution ("Declaratory Resolution") establishing the Michigan Road Economic Development Area ("Area") located in the Town and, following a public hearing, the Declaratory Resolution was confirmed by a confirmatory resolution adopted on May 23, 2022; The Declaratory Resolution approved the economic development plan ("Plan") for the Area which Plan contained specific recommendations for economic development in the Area, and the Declaratory Resolution established an allocation area ("Allocation Area"), as an allocation area in accordance with IC 36-7-14-39 for the purpose of capturing property taxes generated from the incremental asses...
Events of Default and Remedies Therefor. 19 Section 6.1.
Events of Default and Remedies Therefor. (a) Events of Default. Any one or more of the following shall constitute an "Event of Default" as the term is used herein:
Events of Default and Remedies Therefor. Any one or more of the following in any calendar year will constitute an Event of Default as used in this Agreement:
Events of Default and Remedies Therefor. Section 2.1 Term D Events of Default. Any one or more of the following shall constitute a "Subordinated Term Loan D Event of Default" as such term is used herein:
Events of Default and Remedies Therefor. An event of default shall occur and be continuing, and Owner shall have the right to terminate this Agreement at any time thereafter (whether or not said Owner is deemed to have waived its right to so terminate) and pursue any remedy available to Owner at law or equity, if User (a) ceases to do business as a going concern, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts as they become due, or files a voluntary petition in bankruptcy; or (b) within sixty (60) days after the commencement of any proceedings seeking reorganization, arrangement, readjustment, liquidation, dissolution or similar relief under any present or future statute, law of regulation, such proceeding shall not have been dismissed, or if within sixty (60) days after the appointment without consent or acquiescence of any trustee, receiver or liquidator of it or of all or any substantial part of its assets and properties, such appointment shall not be vacated; provided, that if the Owner of the Equipment is no longer Venture Equipment Acquisition Company or an affiliate of Venture Equipment
Events of Default and Remedies Therefor. An event of default shall occur and be continuing, and Owner shall have the right to terminate this Agreement at any time thereafter (whether or not said Owner is deemed to have waived its right to so terminate) and pursue any remedy available to Owner at law or equity, if User (a) ceases to do business as a going concern, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts as they become due, or files a voluntary petition in bankruptcy; or (b) within sixty (60) days after the commencement of any proceedings seeking reorganization, arrangement, readjustment, liquidation, dissolution or similar relief under any present or future statute, law of regulation, such proceeding shall not have been dismissed, or if within sixty (60) days after the appointment without consent or acquiescence of any trustee, receiver or liquidator of it or of all or any substantial part of its assets and properties, such appointment shall not be vacated; provided, that if the Owner of the Property is no longer Venture Real Estate Acquisition Company or an affiliate of Venture Real Estate Acquisition Company, or Larrx X. Xxxxxx xx an affiliate of Larrx X. Xxxxxx xxx such Owner did not acquire its rights hereunder in breach of Section 9 and is not otherwise in breach of this Agreement, an additional event of default shall occur if User fails to perform any material provision of this Agreement and such failure continues for a period of thirty (30) days after notice thereof, time being of the essence.
Events of Default and Remedies Therefor. 17 Section 6.1. Events of Default.....................................................................17 Section 6.2. Notice to Holders.....................................................................18 Section 6.3. Acceleration of Maturities............................................................18 Section 6.4. Rescission of Acceleration............................................................19
Events of Default and Remedies Therefor. 8.1 EVENTS OF DEFAULT 8.2 REMEDIES OF HOLDERS UPON OCCURRENCE OF EVENT OF DEFAULT
