Laserfiche WebLink
• thereafter fail or refuse to exercise the powers hereinbefore granted,or to institute such action, suit <br /> or proceeding in its own name; and such notification, request and offer of indemnity are hereby <br /> declared in every such case at the option of the Trustee to be conditions precedent to the execution <br /> of the powers and trusts of this Indenture, and to any action or cause of action for the enforcement <br /> of this Indenture or for the appointment of a receiver or for any other remedy hereunder; it being <br /> understood and intended that no one or more holders of the Bonds shall have any right in any manner <br /> whatsoever to affect,disturb or prejudice the lien of this Indenture by his or their action or to enforce <br /> any right hereunder except in the manner herein provided,and that all proceedings at law or in equity <br /> shall be instituted, held and maintained in the manner herein provided for the equal benefit of the <br /> holders of all Bonds outstanding hereunder. Nothing in this Indenture contained shall, however, <br /> affect or impair the right of(i) any bondholders to enforce the payment of the principal of and <br /> interest on any Bonds at and after the maturity thereof, or the obligation of the Issuer to pay the <br /> principal of and interest on each of the Bonds issued hereunder to the respective holders thereof at <br /> the time and place in said Bonds,and(ii)the Purchaser(so long as the Purchaser is owner of not less <br /> than 100%in aggregate principal amount of the Bonds)to institute in its own name any suit,action <br /> or proceeding in equity or at law for the enforcement of this Indenture or for the appointment of a <br /> receiver or any other remedy hereunder. <br /> Section 1011. Termination of Proceedings. In case the Trustee shall have proceeded to <br /> enforce any right under this Indenture by the appointment of a receiver or otherwise, and such <br /> proceedings shall have been discontinued or abandoned for any reason, or shall have been <br /> determined adversely to the Trustee,then and in every such case the Issuer and the Trustee shall be <br /> restored to their former positions and rights hereunder with respect to the property herein conveyed, <br /> and all rights,remedies and powers of the Trustee shall continue as if no such proceedings had been <br /> taken, except to the extent the Trustee is legally bound by such adverse determination. <br /> Section 1012. Waivers of Events of Default. The Trustee may in its discretion waive any <br /> Event of Default hereunder and its consequences and rescind any declaration of maturity of principal <br /> and shall do so upon the written request of the holders of two-thirds (2/3) in aggregate principal <br /> amount of Bonds outstanding hereunder, in either case only with prior written consent of the <br /> Purchaser(so long as the Purchaser is owner of not less than 100%in aggregate principal amount <br /> of the Bonds),provided,however,that there shall not be waived any Event of Default described in <br /> clause (a) or (b) of the first paragraph of Section 1001 hereof, unless prior to such waiver or <br /> rescission all arrears of principal (due otherwise than by declaration) and interest and all expenses <br /> of the Trustee, shall have been paid or provided for. In case of any such waiver or rescission the <br /> Issuer,Trustee and the bondholders shall be restored to their former positions and rights hereunder <br /> respectively; but no such waiver or rescission shall extend to any subsequent or other default, or <br /> impair any right subsequent thereon. <br /> 28 <br />