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TEB), or other material notices or determinations with respect to the tax status of
<br />the Certificates, or other material events affecting the tax status of the Certificates;
<br />(7) Modifications to rights of holders of the Certificates, if material;
<br />(8) Certificate calls, if material, and tender offers;
<br />(9) Defeasances;
<br />(10) Release, substitution, or sale of property securing repayment of the
<br />Certificates, if material;
<br />(11) Rating changes;
<br />(12) Bankruptcy, insolvency, receivership, or similar event 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 than in the
<br />ordinary course of business, the entry into of a definitive agreement to undertake
<br />such an action or the termination of a definitive agreement relating to any such
<br />actions, other than pursuant to its terms, if material;
<br />(14) Appointment of a successor or additional paying agent/registrar or the change
<br />of name of a paying agent/registrar, if material;
<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;
<br />and
<br />(16) Default, event of acceleration, termination event, modification of terms, or
<br />other similar events under the terms of a Financial Obligation of the City, any of
<br />which reflect financial difficulties.
<br />For these purposes, (a) any event described in the immediately preceding paragraph
<br />(12) is considered to occur when any of the following occur: the appointment of a receiver,
<br />fiscal agent, or similar officer for the City in a proceeding under the United States
<br />Bankruptcy Code or in any other proceeding under state or federal law in which a court or
<br />governmental authority has assumed jurisdiction over substantially all of the assets or
<br />business of the City, or if such jurisdiction has been assumed by leaving the existing
<br />governing body and officials or officers of the City in possession but subject to the
<br />supervision 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 or governmental
<br />authority having supervision or jurisdiction over substantially all of the assets or business
<br />of the City, and (b) the City intends the words used in the immediately preceding
<br />paragraphs (15) and (16) and the definition of Financial Obligation in this Section to have
<br />the same meanings as when they are used in the Rule, as evidenced by SEC Release No.
<br />34-83885, dated August 20, 2018.
<br />In addition, the City shall notify the MSRB, in a timely manner, of any failure by
<br />the City to provide financial information or operating data in accordance with subsection
<br />(b) of this Section by the time required by subsection (b).
<br />(d) Limitations. Disclaimers, and Amendments.
<br />(i) The City shall be obligated to observe and perform the covenants specified
<br />in this Section for so long as, but only for so long as, the City remains an "obligated person" with
<br />respect to the Certificates within the meaning of the Rule, except that the City in any event will
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