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borne by the Bonds in respect of which the default shall have occurred, shall have been duly paid or
provision shall have been duly made therefor by deposit with the Trustee or Paying Agents; and
(b) all existing Events of Default shall have been cured, then and in every case, the Trustee
shall waive the Event of Default and its consequences and shall rescind and annul that declaration. No
waiver or rescission and annulment shall extend to or affect any subsequent Event of Default or shall impair
any rights consequent thereon.
Section 7.04 Other Remedies; Rights of Holders. With or without taking action under
Section 7.03 hereof, upon the occurrence and continuance of an Event of Default, the Trustee may pursue
any available remedy, including without limitation actions at law or equity to enforce the payment of Bond
Debt Service Charges or the observance and performance of any other covenant, agreement or obligation
under this Indenture, the Loan Agreement, the Regulatory Agreement, the Promissory Note or any other
instrument providing security, directly or indirectly, for the Bonds.
If, upon the occurrence and continuance of an Event of Default, the Trustee is requested to do so
by the Holders of at least 25% in aggregate principal amount of Bonds Outstanding, the Trustee (subject to
the provisions of Sections 6.01 and 6.02 hereof and particularly Sections 6.01(c)(4) and 6.02(i)) shall
exercise any rights and powers conferred by this Section and by Section 7.03 hereof as so directed;
provided, however, that the Trustee may refuse to follow any direction that it believes conflicts with law or
the Indenture or that the Trustee determines is unduly prejudicial to the rights of any Holder (it being
understood that the Trustee does not have an affirmative duty to ascertain whether or not any action or
forbearance is unduly prejudicial to such Holders) or that would involve the Trustee in personal liability;
provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not
inconsistent with such discretion. Prior to taking any action under the Indenture, the Trustee shall be
entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses cause by
taking or not taking such action.
No remedy conferred upon or reserved to the Trustee (or to the Holders) by this Indenture is
intended to be exclusive of any other remedy. Each remedy shall be cumulative and shall be in addition to
every other remedy given hereunder or otherwise to the Trustee or to the Holders now or hereafter existing.
No delay in exercising or omission to exercise any remedy, right or power accruing upon any
default or Event of Default shall impair that remedy, right or power or shall be construed to be a waiver of
any default or Event of Default or acquiescence therein. Every remedy, right and power may be exercised
from time to time and as often as may be deemed to be expedient.
No waiver of any default or Event of Default hereunder, whether by the Trustee or by the Holders,
shall extend to or shall affect any subsequent default or Event of Default or shall impair any remedy, right
or power consequent thereon.
As the assignee of all right, title and interest of the Issuer in and to the Loan Agreement (except for
the Unassigned Issuer鈥檚 Rights), the Trustee is empowered to enforce each remedy, right and power granted
to the Issuer under the Loan Agreement. In exercising any remedy, right or power thereunder or hereunder,
the Trustee shall take such action as may be directed by the requisite percentage of the Holders of the Bonds
then Outstanding, applying the standards described in Sections 6.01 and 6.02 hereof.
Section 7.05 Right of Holders to Direct Proceedings. Anything to the contrary in this
Indenture notwithstanding, the Majority of the Holders of the Bonds shall have the right at any time to
direct, by an instrument or document in writing executed and delivered to the Trustee, the method and place
of conducting all proceedings to be taken in connection with the enforcement of the terms and conditions
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