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CM AZTICLE X DEFAULT PROVISIONS AND REMFDIES ---01' TRUSTEE AND BONDI-IOLDERS Section 1001. If any of the following events occur, subject to the provisions of Section 1013 hereof, it is hereby defined as and declared to be and to constitute an "event of default"; (a) Default in the due and punctual payment of any interest on any bond hereby secured and outstanding and the continuance thereof for a period of ten (10) days; (b) Default in the due and punctual payment of any moneys required to be paid to the Trustee under the provisions of Article V hereof and the continuance thereof for a period of thirty (3 0) days; (c) Default in. the due and punctual payment of the principal of any bond hereby secured and outstanding, whether at the stated maturity thereof, or upon proceedings for redemption. thereof, or upon the maturity thereof by declaration; (d) Default in the performance or observance of any other of the covenants, agreements or conditions on its part in this Indenture, or in the bonds contained, and the continuance thereof for a period of sixty (60) days after written notice to the City by the Trustee or by the holders of not less thanten per cent (10%) in aggregate principal amount of bonds outstanding hereunder. The term "default" shall mean default by the City in the performance or observance of any of the covenants, agreements or conditions on its part contained in this Indenture, or in the bonds outstanding hereunder, exclusive of any period of grace required to constitute a default an "event of default" as hereinabove provided.