This page uses extracted PDF text. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
shall give notice of the deposit with it of any money and of the fixing of that date, all consistent with the
requirements of Section 3.04 hereof for the establishment of, and for giving notice with respect to, a Special
Record Date for the payment of overdue interest. The Trustee shall not be required to make payment of
principal of a Bond to the Holder thereof, until the Bond shall be presented to the Trustee for appropriate
endorsement or for cancellation if it is paid fully.
Section 7.07 Remedies Vested in Trustee. All rights of action (including without limitation,
the right to appear on behalf of the Issuer and the Holders of the Bonds in any bankruptcy or insolvency
proceeding and to file proof of claims in any such proceeding) under this Indenture or under any of the
Bonds may be enforced by the Trustee without the possession of any of the Bonds or the production thereof
in any trial or other proceeding relating thereto. Any suit or proceeding instituted by the Trustee shall be
brought in its name as Trustee without the necessity of joining any Holders as plaintiffs or defendants. Any
recovery of judgment shall be for the benefit of the Holders of the Outstanding Bonds, subject to the
provisions of this Indenture.
Section 7.08 Rights and Remedies of Holders. A Holder shall not have any right to institute
any suit, action or proceeding for the enforcement of this Indenture, for the execution of any trust hereof,
or for the exercise of any other remedy hereunder, unless:
(a) there has occurred and is continuing an Event of Default of which the Trustee has been
notified, as provided in Section 6.02(f) hereof, or of which it is deemed to have notice under that paragraph;
(b) the Holders of at least 25% in aggregate principal amount of the Bonds then Outstanding
shall have made written request to the Trustee and shall have afforded the Trustee reasonable opportunity
to proceed to exercise the remedies, rights and powers granted herein or to institute the suit, action or
proceeding in its own name, and shall have offered indemnity satisfactory to the Trustee as provided in
Sections 6.01 and 6.02 hereof; and
(c) the Trustee thereafter shall have failed or refused to exercise the remedies, rights and
powers granted herein or to institute the suit, action or proceeding in its own name.
Notification (or notice), request, opportunity and offer of indemnity (as set forth above) are conditions
precedent in every case, to the institution of any suit, action or proceeding described above.
No one (1) or more Holders of the Bonds shall have any right to affect, disturb or prejudice in any
manner whatsoever the security or benefit of this Indenture by its or their action, or to enforce, except in
the manner provided herein, any remedy, right or power hereunder. Any suit, action or proceedings shall
be instituted, had and maintained in the manner provided herein for the benefit of the Holders of all Bonds
then Outstanding. Nothing in this Indenture shall affect or impair, however, the right of any Holder to
enforce the payment of the Bond Debt Service Charges on any Bond owned by that Holder at and after the
maturity thereof, at the place, from the sources and in the manner expressed in that Bond.
Section 7.09 Termination of Proceedings. In case the Trustee shall have proceeded to enforce
any remedy, right or power under this Indenture in any suit, action or proceedings, and the suit, action or
proceedings shall have been discontinued or abandoned for any reason, or shall have been determined
adversely to the Trustee, the Issuer, the Trustee and the Holders shall be restored to their former positions
and rights hereunder, respectively, and all rights, remedies and powers of the Trustee shall continue as if
no suit, action or proceedings had been taken.
55Jump to an indexed page (744 of 744)