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7 <br />(ii)there shall exist any event which in the reasonable opinion of the <br />Underwritereither: (i) makes untrue or incorrect in any material respect any statement or <br />information contained in the Official Statement; or (ii) is not reflected in the Official Statement but <br />should be reflected therein to make the statements and information contained therein not misleading <br />in any material respect; or <br />(iii)there shall have occurred any new outbreak of hostilities or other <br />national or international calamity or crisis or the escalation of any such outbreak, calamity or crisis, <br />the effect of such outbreak, calamity, crisis or escalation on the financial markets of the United <br />States being such as would make it impracticable, in the reasonable opinion of the Underwriter, for <br />the Underwriterto sell the Bonds; or <br />(iv)there shall be in force a general suspension of trading on the New <br />York Stock Exchange or minimum or maximum prices for trading shall have been fixed and be in <br />force, or maximum ranges for prices for securities shall have been required and be in force on the <br />New York Stock Exchange, whether by virtue of a determination by that Exchange or by orders of <br />the Securities and Exchange Commissionor any other governmental authority; or <br />(v)a general banking moratorium shall have been declared by either <br />Federal, California or New York authorities having jurisdiction and be in force; or <br />(vi)there shall be established any new restrictions on transactions in <br />securities materially affecting the free market for securities (including the imposition of any <br />limitations on interest rates) or the extension of credit by, or the charge to the net capital <br />requirements of, underwritersestablished by the New York Stock Exchange, the Securities and <br />Exchange Commission, any other Federal or state agency or the Congress of the United States, or by <br />Executive Order; or <br />(vii)an adverse event has occurred affecting the financial condition or <br />operation of the Agencywhich, in the opinion of the Underwriter, requires or has required a <br />supplement or amendment to the Official Statementand (i)the Agency refuses to prepare and furnish <br />such disclosure material, or supplement or amendment to the Official Statement, or (ii)in the <br />reasonable judgment of the Underwriter, the occurrence of such event materially and adversely <br />affects the marketability of the Bonds or renders the enforcement of contracts for sale of the Bonds <br />impracticable; or <br />(viii)any rating of the securities of the Agencyshall have been <br />downgraded, suspended or withdrawn by a national rating service, or there shall have been any <br />official statement by a national rating service as to a possible downgrading (such as being placed on <br />“credit watch” or “negative outlook” or any similar qualification), in either case which, in the <br />Underwriter’s reasonable opinion, materially adversely affects the marketability or market price of <br />the Bonds; or <br />(ix)any legislation, ordinance, rule or regulation shall be introduced in, or <br />be enacted by any governmental body, department or agency of the State, or a decision by any court <br />of competent jurisdiction within the State or any court of the United States shall be rendered which, <br />in the reasonable opinion of the Underwriter, materially adversely affects the market price of the <br />Bonds; or