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<br />C-4
<br />(7) Modifications to rights of security holders, if material.
<br />(8) Bond calls, if material, and tender offers.
<br />(9) Defeasances.
<br />(10) Release, substitution, or sale of property securing repayment of the
<br />securities, if material.
<br />(11) Rating changes.
<br />(12) Bankruptcy, insolvency, receivership or similar event of the City.
<br />Note: For the purposes of the event identified in subparagraph (12), the event is
<br />considered to occur when any of the following occur: the appointment of a
<br />receiver, fiscal agent or similar officer for the City in a proceeding under
<br />the U.S. Bankruptcy Code or in any other proceeding under state or
<br />federal law in which a court or governmental authority has assumed
<br />jurisdiction over substantially all of the assets or business of the City, or if
<br />such jurisdiction has been assumed by leaving the existing governmental
<br />body and officials or officers in possession but subject to the supervision
<br />and orders of a court or governmental authority, or the entry of an order
<br />confirming a plan of reorganization, arrangement or liquidation by a court
<br />or governmental authority having supervision or jurisdiction over
<br />substantially all of the assets or business of the City.
<br />(13) The consummation of a merger, consolidation, or acquisition involving the
<br />City or the sale of all or substantially all of the assets of the City, other
<br />than in the ordinary course of business, the entry into a definitive
<br />agreement to undertake such an action or the termination of a definitive
<br />agreement relating to any such actions, other than pursuant to its terms, if
<br />material.
<br />(14) Appointment of a successor or additional trustee or the change of name of a
<br />trustee, if material.
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<br />(15) Incurrence of a financial obligation of the City, if material, or agreement to
<br />covenants, events of default, remedies, priority rights, or other similar terms of a
<br />financial obligation of the City, any of which affect security holders, if material (for
<br />definition of “financial obligation,” see Section 6(c)).
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<br />(16) Default, event of acceleration, termination event, modification of terms, or other
<br />similar events under the terms of a financial obligation of the City, any of which
<br />reflect financial difficulties (for definition of “financial obligation,” see Section
<br />6(c)).
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<br />(b) Whenever the City obtains knowledge of the occurrence of a Listed Event, and, if
<br />the Listed Event is described in subsections (a)(2), (a)(6), (a)(7), (a)(8) (if the event is a bond
<br />call), (a)(10), (a)(13), (a)(14) and (a)(15) above, the City determines that knowledge of the
<br />occurrence of that Listed Event would be material under applicable Federal securities law, the
<br />City shall, or shall cause the Dissemination Agent (if not the City) to, file a notice of such
<br />occurrence with the MSRB, in an electronic format as prescribed by the MSRB, in a timely
<br />manner not in excess of 10 business days after the occurrence of the Listed Event.
<br />Notwithstanding the foregoing, notice of the Listed Events described in subsection (a)(8) above
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