LOAN
AND
TRUSTAGREEMENT
Among
RHODEISlANDECONOMICDEVELQPMENTCORPORATION
And38Studios,LLC
And
The
Bank
ofNewYorkMellonTrustCompany,
N.
A.,asTrustee
Dated
asofNovember1,2010$75,000,000RhodaIslandEconomicDevelopmentCorporation
"Job
CreationGuarantyProgramTaxableRevenueBonds(38
Studios,
LLC
Project).
Series2010
This
instrument
was
preparedby:Moses&
Afonso,ltd:
160WestminsterStreet.Suite400Providence,Rhode
Island
02903Telephone:(401),453-3600
TABLEOFCONTENTSPAGEARTICLEIDEfiNITIONSANDCONSTRUCTION:16SECTION1.01DefinitionsandConstruction16
ARTICLE
IIALOANOFBOND
PROCEEDS;
THEASSIGNMENT,PLEDGEANDGRANTOFSECURITYINTERESTS30SECTION2.01AloanofBond
Proceeds
30SECTION2.02AAssignmentandPledgeofthelssuer.;30SECTION2.03AFurtherAssurances30SECTION2.04APledgeofGrossRecelpts::30SECTION2.05ADefeasance31SECTION2.06APaymentsbytheObligor32ARTICLE
I)
AUTHORIZATION,TERMSANDISSUANCEOFBONDS34SECTION2.01AuthorizationforAgreementandBonds
34
SECTION2.02Issuanceofthe2010SeriesBonds35.SECTION2.03[RESERVED}37SECTION2.04DeliveryofBonds:37SECTION2.05Form;Denominations;Numbers;MediumofPaymenL
38
SECTION2.06ExecutionofBOnd539SECTION2.07Authenticatlon,.."39.SECTION2.08Ownership;Interchangeability39SECTION2.09BondsMutilated,Destroyed,Stolen
or
lost
40
SECTION2.10AdditionalBonds,40ARTICLEIIIREDEMPTIONOFBONDS:,41SECTION3.01PrivilegeofRedemption
and
RedemptionPrice:41SECTION3.02SelectionofBondstobeRedeemed;.41SECTION3.03NoticeofRedemption;~41SECTION3.04PaymentofRedeemedBonds42SECTION3.05[RESERVED)42SECTION3.06CancellationofRedeemedBonds42SECTION3.07[RESERVED].,~42ARTICLEIVCUSTODYANDAPPLICATIONOFPROCEEDSOFBONDS42SECTION4.01DepositsinSinkingFunds.42SECTION4.02CapitalizedInterestFund42SECTION4.03Application
ofthe
CapitalizedInterestFund"42SECTION4.04ProjectFund43SECTION4.05Applicationof
the
ProjectFund43SECTION4.06[RESERVED].44SECTION4.07.Investment
of
ProjectFund44ARTICLEVREVENUEANDFUNDS45SECTION5.01Creation
of
SinkingFund:45SECTION5.02PaymentsintoSinkingFund45
-i-
ApplicationofSinkingFund46CreationofCapitalReserveFund46DepositsSufficienttoRetireBonds"
.48
InvestmentofProjectFund,SinkingFund,andCapitalReserveFund
48
[RESERVED}49CancellatIonofBonds"
49
Non-presentmentofBonds
49
RepaymenttotheCorporationfrom
the
SinkingFund,andtheCapitalReserveFund"50
ARTICLEVIA
PARTICULAR
COVENANTSOF
THEOBLIGOR50SECTION6.01AAffirmativeCovenantsofObligorOtherthanReportingRequirements50SECTION6.02ANegativeCovenantsofObl,igor.:56SECTION6.03AReportingRequirement.....................................................
62
ARTICLEVIPARTICULARCOVENANTSOFTHECORPORATION63SECTION6.01Corporation'sObligationNottoCreateaGeneralliability63SECTION6.02PaymentofPrincipal,RedemptionPrice,Premium,ifany,andInterest63SECTION6.03Performanceof.Covenants;Corporation"63SECTION6.04InstrumentsofFurtherAssurance
63
SECTION
6.05
RecordationofInstruments:64SECTION6.06Inspection
of
Books64.SECTION6.07ListofBondholders
64
ARTICLEVIIREMEDIESOFBONDHOLDERSANDTHECORPORATION65SECTION7.01EventsofDefault;AccelerationofDueDate65SECTION7.02EnforcementofRemedies65SECTION7.03AppointmentofReceiver:66SECTION7.04ApplicationofRevenuesandOtherMoneysafterDefault..67SECTION7.05ActionsbyTrustee·68SECTION
7.06
MajorityBondholdersControlProceedings68SECTION7.07IndividualBondholderActionRestricted68SECTION7.08.EffectofDiscontinuanceofProceedings;69SECTION7.09RemediesNotExc1usive
69
SECTION7.10DelayorOmissIon
r;
69SECTION7.11NoticeofEventofOefault...
69
SECTION7.12WaiversofEventsofDefault69SECTION7.13ObligorDefaults:..................70ARTICLEVIIITRUSTEE.PAYINGAGENTANDBONDREGISTRAR70SECTION8.01AppointmentandAcceptanceofDuties70SECTION8.02Indemnity71SECTION8.03ResponsibilitiesofTrustee71SECTI'ON8.04Compensation72SECTION8.05EvidenceonWhichTrusteeMayAct.72SECTION5.03SECTION
5.04
SECTION5.05SECTION
5.06
SECTION
5.07
SECTION5.08SECTION5.09SECTION5.10
-ii-
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