BICEP 2-1988 - Laserfiche WebLink

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1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 ARTICLE IX ASSIGNMENT AND AMENDMENT SECTION 9.1 Assiqnment by the Authority. Certain of the Authority~s rights under this Agreement, including the right to receive and enforce payment of Premium (other than Administrative Premium) to be paid by each Participant under this Agreement, have been assigned to the Trustee, subject to certain exceptions, pursuant to the Indenture. Except as provided herein and in the Indenture, the Authority will not assign this Agreement, its right to receive Basic Premium from any Participant, or its duties and obligations hereunder to any person, firm or corporation so as to impair or violate the representations, covenants and warranties contained in Section 2.2; provided, however, that nothing in this Section shall limit the right of the Authority to purchase commercial insurance or reinsurance on behalf of the Participants pursuant to Section 3.5 hereof. The Trustee shall be considered a third party beneficiary under this Agreement in regard to the enforcement of the Trustee's rights hereunder. SECTION 9.2 No Assiqnment by the Participants. Agreement may not be assigned by any Participant. This SECTION 9.3 Amendment. Except as provided below, this Agreement may only be amended by a written instrument duly authorized and executed by the Authority and all of the Participants in accordance with Article X of the Indenture. This Agreement, including the Exhibits and Schedules hereto, may be amended, with the consent of two-thirds of the Participants and two-thirds of the Governing Board of the Authority without notice to or the consent of any of the Owners of the Bonds and without complying with Article X of the Indenture, in connection with (1) any provision of this Agreement after the discharge of the Indenture, (2) any change required or permitted to be made pursuant to Article VI hereof upon the admission, withdrawal or expulsion of a Participant, except as otherwise provided in Article VI or (3) any provision of this Agreement relating to: (a) the methodology and formulae for determination of Total Pure Premium, Pure Premium, Pure Premium Rates, Administrative Premium and Pure Premium Adjustments payable by or to each Participant, including any changes to Schedule A; provided that, prior to the Coverage Period commencing July 1, 1991, any such amendment must be approved by unanimous vote of the Participants; and further provided that no such amendment shall reduce the level for the establishment of Total Pure Premium or Pure Premium Adjustments to less than that initially set forth herein; 36 2658002/2