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ARTICLE IV <br /> EVENTS OF DEFAULT AND REMEDIES THEREFOR <br /> Section 4.01. Events of Default. The occurrence and continuance of any of the following <br /> events shall constitute an "Event of Default"hereunder: <br /> (a) failure of the Borrower to pay any installment of interest or of principal, or <br /> any premium, on the Series 2026A Note when the same shall become due and payable, <br /> whether at maturity or upon any date fixed for prepayment or by acceleration or otherwise; <br /> or <br /> (b) except as otherwise specified herein, failure of the Borrower to perform any <br /> other covenant, condition or provision hereof, and, in the event only of a non-monetary <br /> default, to remedy such default within 60 days after notice thereof from the City or the <br /> Trustee to the Borrower,unless the nature of the default is such that it cannot be remedied <br /> within the 60-day period and the Trustee agrees in writing to an extension of time of up to <br /> 60 additional days after the original notice of such default and the Borrower institutes <br /> corrective action within the period agreed upon and diligently pursues such action until the <br /> default is remedied; provided, for the avoidance of doubt, that the foregoing cure period <br /> shall be inapplicable with respect to breaches of Sections 2.19, 2.23, or 2.24 and to any <br /> failure of the Borrower to perform any covenant, condition or provision hereof relating to <br /> the collateral securing the Series 2026A Bonds or the tax status thereof; or <br /> (c) any representation or warranty made by the Borrower in any statement or <br /> certificate furnished to the City or the Trustee or the purchaser of the Series 2026A Bonds, <br /> in connection with the sale of the Series 2026A Bonds or furnished by the Borrower <br /> pursuant hereto, proves untrue in any respect as of the date of the issuance or making <br /> thereof and shall not be made good within 60 days after notice thereof to the Borrower by <br /> the City,the Trustee or such purchaser,unless the nature of the default is such that it cannot <br /> be remedied within the 60-day period and the Trustee agrees in writing to an extension of <br /> time of up to 60 additional days after the original notice of such default and the Borrower <br /> institutes corrective action within the period agreed upon and diligently pursues such action <br /> until the default is remedied; or <br /> (d) default in any payment of principal of or of premium, if any, on, or of <br /> interest on any other obligation of the Borrower for borrowed money in excess of$250,000 <br /> continuing beyond the expiration of the applicable grace period,if any,provided for therein <br /> or in the performance of any other agreement,term or condition contained in any agreement <br /> under which such obligation is created, and is continuing beyond the expiration of the <br /> applicable grace period, if any, provided for therein,; provided, however, that if such <br /> default shall be remedied or cured by the Borrower, and any such declaration be rescinded <br /> or annulled, then the event of default hereunder by reason thereof shall be deemed to have <br /> been thereupon cured (in determining whether such $250,000 threshold has been reached, <br /> only the obligations of the Borrower itself and not obligations of any corporation or entity <br /> affiliated with, related to or a subsidiary of the Borrower shall be taken into account); or <br /> -23- <br />