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• ARTICLE X DEFAULT PROVISIONS AND REMEDIES OF TRUSTEE AND BONDHOLDERS Section 1001. Events of Default. Each of the following events shall constitute and is referred to in this Indenture as an "Event of Default": (a) Default in the due and punctual payment of any interest on any Bond hereby secured and outstanding,which default shall continue for a period of five(5) days. (b) 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,which default shall continue for a period of five(5)days. (c) Default in the payment of any other amount required to be paid under this Indenture or the performance or observance of any other of the covenants,agreements or conditions contained in this Indenture,or in the Bonds issued under this Indenture, and continuance thereof for a period of sixty(60)days after written notice specifying such failure and requesting that it be remedied,shall have been given to the Issuer and the Company by the Trustee, which may give such notice in its discretion and shall give such notice at the written request of bondholders of not less than 10%in • aggregate principal amount of the Bonds then outstanding, unless the Trustee, or the Trustee and bondholders of an aggregate principal amount of Bonds not less than the aggregate principal amount of Bonds the bondholders of which requested such notice,as the case may be,shall agree in writing to an extension of such period prior to its expiration;provided,however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Issuer, or the Company on behalf of the Issuer, within such period and is being diligently pursued. (d) The occurrence of an "Event of Default" under the Lease Agreement. Section 1002. Acceleration. Upon the occurrence of an Event of Default described in the first paragraph of Section 1001 hereof,the Trustee may,and upon the written request of the holders of two-thirds (2/3) in aggregate principal amount of Bonds outstanding hereunder, shall, in either case only with prior written consent of the Purchaser(so long as the Purchaser is owner of not less than 100%in aggregate principal amount of the Bonds),by notice in writing delivered to the Issuer and the Company,declare the principal of all Bonds hereby secured then outstanding and the interest accrued thereon immediately due and payable, and such principal and interest shall thereupon become and be immediately due and payable and interest shall cease to accrue on all Bonds issued hereunder. • 24