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8. Rating changes; <br />9. Bankruptcy, insolvency, receivership or similar event of an obligated person <br />(which is considered to occur when any of the following occur: the <br />appointment of a receiver, fiscal agent, or similar officer for the Issuer in a <br />proceeding under the United States Bankruptcy Code or in any other <br />proceeding under state or federal law in which a court or governmental <br />authority has assumed jurisdiction over substantially all of the assets or <br />business of the Issuer, or if such jurisdiction has been assumed by leaving the <br />existing governing body and officials or officers in possession but subject to <br />the supervision and orders of a court or governmental authority, or the entry <br />of an order confirming a plan of reorganization, arrangement, or liquidation <br />by a court or governmental authority having supervision or jurisdiction over <br />substantially all of the assets or business of the Issuer). <br />The Issuer shall notify the MSRB, in a timely manner, of any failure by the Issuer to provide financial <br />information or operating data in accordance with subsection (a) of this Section by the time required <br />by such subsection. <br />(c) Limitations, Disclaimers, and Amendments. (i) The Issuer shall be obligated to observe <br />and perform the covenants specified in this Section for so long as, but only for so long as, the Issuer <br />remains an "obligated person" with respect to the Bonds within the meaning of the Rule, except that <br />the Issuer in any event will give the notice required by Subsection (b) hereof of any Bond calls and <br />defeasance that cause the Issuer to no longer be such an "obligated person". <br />(ii) The provisions of this Section are for the sole benefit ofthe registered owners and beneficial <br />owners of the Bonds, and nothing in this Section, express or implied, shall give any benefit or any <br />legal or equitable right, remedy, or claim hereunder to any other person. The Issuer undertakes to <br />provide only the financial information, operating data, financial statements, and notices which it has <br />expressly agreed to provide pursuant to this Section and does not hereby undertake to provide any <br />other information that may be relevant or material to a complete presentation of the Issuer's financial <br />results, condition, or prospects or hereby undertake to update any information provided in accordance <br />with this Section or otherwise, except as expressly provided herein. The Issuer does not make any <br />representation or warranty concerning such information or its usefulness to a decision to invest in or <br />sell Bonds at any future date. <br />(iii) iINDER NO CIRCUMSTANCES SHALL THE ISSUER BE LIABLE TO THE <br />REGISTERED OWNER OR BENEFICIAL OWNER OF ANY BOND OR ANY OTHER <br />PERSON, IN CONTRACT OR TORT, FOR DAMAGES RESULTING IN WHOLE OR IN PART <br />FROM ANY BREACH BY THE IS SUER, WHETHER NEGLIGENT OR WITHOUT FAULT ON <br />ITS PART, OF ANY COVENANT SPECIFIED IN THIS SECTION, BUT EVERY RIGHT AND <br />REMEDY OF ANY SUCH PERSON, IN CONTRACT OR TORT, FOR OR ON ACCOUNT OF <br />ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC <br />PERFORMANCE. <br />27 <br />