Section 10 - Agreement with state1.The state pledges and agrees with the corporation, and the owners of the bonds of the corporation in which the corporation has included such pledge and agreement, that the state shall (i) irrevocably direct, through the attorney general, the independent auditor and the escrow agent under the master settlement agreement to transfer all pledged tobacco revenues directly to the corporation or its assignee, (ii) enforce its right to collect all moneys due from the participating manufacturers under the master settlement agreement and, in addition, shall diligently enforce the qualifying statute as contemplated in section IX(d)(2)(B) of the master settlement agreement against all tobacco product manufacturers selling tobacco products in the state and that are not in compliance with the qualifying statute, in each case in the manner and to the extent deemed necessary in the judgment of the attorney general, provided, however, that the sale agreement may provide (a) that the remedies available to the corporation and the bondholders for any breach of the pledges and agreements of the state set forth in this clause shall be limited to injunctive relief, and (b) that the state shall be deemed to have diligently enforced the qualifying statute so long as there has been no judicial determination by a court of competent jurisdiction in this state, in an action commenced by a participating tobacco manufacturer under the master settlement agreement, that the state has failed to diligently enforce the qualifying statute for the purposes of section IX(d)(2)(B) of the master settlement agreement, (iii) neither amend the master settlement agreement nor the consent decree or take any other action in any way that would materially adversely (a) alter, limit or impair the corporation's right to receive pledged tobacco revenues, or (b) limit or alter the rights hereby vested in the corporation to fulfill the terms of its agreements with such bondowners, or (c) in any way impair the rights and remedies of such bondowners or the security for such bonds until such bonds, together with the interest thereon and all costs and expenses in connection with any action or proceedings by or on behalf of such bondowners, are fully paid and discharged (provided, that nothing herein shall be construed to preclude the state's regulation of smoking and taxation and regulation of the sale of cigarettes or the like or to restrict the right of the state to amend, modify, repeal or otherwise alter statutes imposing or relating to the taxes), and (iv) not amend, supersede or repeal the qualifying statute and the complementary legislation, in any way that would materially adversely affect the amount of any payment to, or materially adversely affect the rights of, the corporation or such bondholders. The state representative is authorized and directed to include this pledge and agreement in the sale agreement and authorizes and directs the corporation, as agent of the state to include this pledge and agreement in any contract with the bondholders of the corporation. Notwithstanding these pledges and agreements by the state, the attorney general may in his or her discretion enforce any and all provisions of the master settlement agreement, without limitation. 2.Prior to the date which is one year and one day after the corporation no longer has any bonds outstanding, the corporation shall have no authority to file a voluntary petition under chapter 9 of the federal bankruptcy code or such corresponding chapter or sections as may, from time to time, be in effect, and neither any public officer nor any organization, entity or other person shall authorize the corporation to be or become a debtor under chapter 9 or any successor or corresponding chapter or sections during such period. The state hereby covenants with the owners of the bonds of the corporation that the state will not limit or alter the denial of authority under this subdivision during the period referred to in the preceding sentence. The corporation is authorized and directed as agent of the state to include this covenant as an agreement of the state in any contract with the bondholders of the corporation.3.To the extent deemed appropriate by the corporation and with the approval of the state representative, any pledge and agreement of the state with respect to the bonds as provided in this section may be extended to, and included in, any ancillary bond facility as a pledge and agreement of the state with the corporation and the benefited party.4.The state acknowledges and agrees that the other participating jurisdictions have rights and interests in the consent decree. In recognition of the rights of the other participating jurisdictions contained in the consent decree, the state pledges that the sale of the state's share authorized by this act shall in no way include or be deemed to include, and the state shall not otherwise alter, limit, or impair, the rights of the other participating jurisdictions including, but not limited to, rights to receive payments, set forth in the consent decree. Nothing in this act shall be construed to alter the right of each of the other participating jurisdictions under the consent decree to receive payments or to sell or assign some or all of its interest in the manner deemed appropriate pursuant to law by its governing body.N.Y. Tobacco Settlement Financing Corporation Act § 10