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2008-11-01
CITY-OF-BATESVILLE
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2008-11-01
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• (a) If the Company shall fail to make any installment payment under the Lease <br /> Agreement on the day such payment is due and payable, the Trustee shall give notice to and make <br /> demand upon the Company on the next succeeding Business Day. <br /> (b) If a default occurs of which the Trustee is pursuant to the provisions of Section <br /> 1101(g)deemed to have or is given notice, the Trustee shall promptly give notice to the Company <br /> and to bondholders generally; provided, however, that no notice shall be required to be given to <br /> bondholders generally unless the default is such that the bondholders could require the Trustee to <br /> act pursuant to Section 1002 hereof. <br /> Section 1104. Intervention by Trustee. In any judicial proceeding to which the Issuer is a <br /> party and which in the opinion of the Trustee and its counsel has a substantial bearing on the interests <br /> of holders of Bonds issued hereunder,the Trustee may intervene on behalf of bondholders and shall <br /> do so if requested in writing by the holders of at least ten percent(10%) of the aggregate principal <br /> amount ofBonds outstanding hereunder. The rights and obligations ofthe Trustee under this Section <br /> 1104 are subject to the approval of the court having jurisdiction in the premises. <br /> Section l l 05. Merger or Consolidation of Trustee. Any bank or trust company to which the <br /> Trustee may be merged,or with which it may be consolidated,or to which it may sell or transfer its <br /> trust business and assets as a whole or substantially as a whole, or any bank or trust company <br /> resulting from any such sale,merger,consolidation or transfer to which it is a party,ipso facto,shall <br /> • be and become successor trustee hereunder and vested with all of the title to the whole property or <br /> Trust Estate and all the trusts,powers, discretions, immunities,privileges, and all other matters as <br /> was its predecessor, without the execution or filing of any instrument or any further act, deed or <br /> conveyance on the part of any of the parties hereto,anything herein to the contrary notwithstanding; <br /> provided,however,that such successor trustee shall have capital and surplus of at least$50,000,000. <br /> Section 1106. Resignation by Trustee. The Trustee and any successor trustee may at any <br /> time resign from the trusts hereby created by giving thirty(30)days written notice to the Issuer,and <br /> such resignation shall take effect at the end of such thirty(30)days(provided a successor trustee has <br /> been duly appointed) or upon the earlier appointment of a successor trustee by the bondholders or <br /> by the Issuer. Such notice may be served personally or sent by registered mail. <br /> Section 1107. Removal of Trustee. The Trustee may be removed at any time by an <br /> instrument or concurrent instruments in writing delivered to the Trustee and to the Issuer,and signed <br /> by the holders of a majority in aggregate principal amount of Bonds outstanding hereunder. Such <br /> removal shall not take effect until the appointment of a successor trustee. <br /> Section 1108. AMointment of Successor Trustee. In case the Trustee hereunder shall resign <br /> or be removed, or be dissolved, or shall be in course of dissolution or liquidation, or otherwise <br /> become incapable of acting hereunder, or in case it shall be taken under the control of any public <br /> officer or officers, or of a receiver appointed by the court, a successor may be appointed by the <br /> Issuer,as directed by the Company(so long as no Event of Default has occurred and is continuing), <br /> • <br /> 32 <br />
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