Project Operating Agmt 02012011 - Laserfiche WebLink

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Section 506 Trustee and Bond Owners to Exercise Riehts Such rights and remedies as are given to the Authority under this Article V have been pledged by the Authority to the Trustee for the benefit of the Bond Owners to which pledge User hereby consents Such rights and remedies shall be exercised by the Authority the Trustee and the Bond Owners as provided in the Trust Agreement ARTICLE VI MISCELLANEOUS Section 601 Prepayment The User may prepay its Service Payments by a deposit with the Trustee as escrow holder under an escrow deposit and trust agreement as referenced in and in conformance with the Trust Agreement of either i cash in an amount which is sufficient to pay all unpaid Service Payments in accordance with the schedule set forth in the Trust Agreement or ii non callable Federal Securities or pre refunded non callable municipal obligations rated AAA and Aaa by S P and Moodys respectively or iii any other investment approved in writing by the Trustee together with cash if required in such amount as will in the opinion of an independent certified public accountant together with interest to accrue thereon be fully sufficient to pay all unpaid Service Payments pursuant to the Trust Agreement on their payment dates so that a pro rata share of the Bonds shall be defeased as provided for in the Trust Agreement Notwithstanding the JPA Agreement or any other provision of this Operating Agreement including without limitation Sections 407 and 501 hereof in the event of a deposit pursuant to this Section 601 all obligations of the User under this Operating Agreement shall cease and terminate excepting only the obligation of the User to pay the Operating Payments to the extent the User is still using the service provided by the Project The prepaid Service Payments are deemed to be and shall constitute a special fund for the payment of Service Payments in accordance with the provisions of this Operating Agreement The Authority shall consent to such prepayment or defeasance to the extent the same complies with the tax covenants of the Authority and the Counties Section 602 Benefits of Operating Agreement Limited to Parties Except as provided in Section 603 nothing contained herein express or implied is intended to give to any person other than the Authority and the User any right remedy or claim under or pursuant hereto and any agreement or covenant required herein to be performed by or on behalf of the Authority or the User shall be for the sole and exclusive benefit of the other party Section 603 Successor Is Deemed Included In All References to Predecessor Whenever the Authority or the User is named or referred to herein such reference shall be deemed to include the successor to the powers duties and functions that are presently vested in the Authority or the User and all agreements and covenants required hereby to be performed 21 Project Operating Agreement 1 1 17 10 City Attomev Group