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club facility, facility primarily used for gambling, or store the principal business of which is the sale of
alcoholic beverages for consumption off premises, and no portion of the proceeds of the Loan shall be used
for an office unless (a) the office is located on the premises of facilities constituting a portion of the Project
and (b) not more than a de minimis amount of the functions to be performed at such office is not related to
the day-to-day operations of the Project.
Section 5.13 Borrower鈥檚 Performance Under Indenture. The Indenture provisions
concerning the Bonds and the other matters therein are an integral part of the terms and conditions of the
Loan made by the Authority to the Borrower pursuant to this Loan Agreement, and the execution of this
Loan Agreement shall constitute conclusive evidence of approval of the Indenture by the Borrower, to the
extent that it relates to the Borrower. Additionally, the Borrower agrees that, whenever the Indenture by
its terms imposes a duty or obligation on the Borrower, such duty or obligation shall be binding upon the
Borrower to the same extent as if the Borrower were an express party to the Indenture, and the Borrower
hereby agrees to carry out and perform all of its obligations under the Indenture as fully as if the Borrower
were a party to the Indenture. The Borrower agrees that any provisions governing the rights, immunities
and protections of the Trustee under the Indenture are incorporated by reference into this Loan Agreement
as though fully set forth herein.
ARTICLE VI
PREPAYMENT
Section 6.1 Optional Prepayment. The Promissory Note may be prepaid by the Borrower in
whole or in part any Business Day occurring on or after April 1, 2028, and must be prepaid by the Borrower
in whole as soon as practicable after the Borrower has advised the Trustee in writing that the Project is
placed in service for all purposes within the meaning of Section 42 of the Code, without penalty at a
prepayment price equal to the outstanding principal amount plus any unpaid accrued interest on the
Promissory Note. In order to prepay the Promissory Note, the Borrower shall give the Trustee written
notice at least 30 days prior to the prepayment date to effect a redemption of the Bonds pursuant to Section
4.01 of the Indenture. After a Remarketing Date, the Promissory Note may be prepaid by the Borrower in
whole or in part on any Business Day that is nearest to the date falling at 50% of the subsequent remarketing
period between the most recent Mandatory Tender Date and the next Mandatory Tender Date or the
Maturity Date, as applicable.
Section 6.2 Borrower鈥檚 Obligations Upon Tender of Bonds. If any Tendered Bond is not
remarketed on any Mandatory Tender Date and a sufficient amount is not available in the Collateral Fund,
the Bond Fund, and the Project Fund as provided in Section 4.03(e) of the Indenture for the purpose of
paying the purchase price of such Bond, the Borrower will cause to be paid to the Trustee by the applicable
times provided in the Indenture, an amount of Available Money equal to the amount by which the principal
amount of all Bonds tendered and not remarketed, together with interest accrued to the Mandatory Tender
Date, exceeds the amount otherwise available pursuant to Section 4.03(e) of the Indenture.
ARTICLE VII
EVENTS OF DEFAULT AND REMEDIES
Section 7.1 Events of Default. Each of the following shall be an Event of Default:
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