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The provisions of the preceding paragraph are subject, however, to the condition that if, at any time
after declaration of acceleration and prior to the entry of a judgment in a court for enforcement under the
Indenture (after an opportunity for hearing by the Issuer and the Borrower),
(a) all sums payable under the Indenture (except the principal of and interest on Bonds
which have not reached their stated Maturity Date but which are due and payable solely by reason
of that declaration of acceleration), plus interest to the extent permitted by law on any overdue
installments of interest at the rate 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.
Other Remedies; Rights of Holders
With or without taking action as described under the caption “Acceleration” above, 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 the 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 Trustee’s rights, duties and obligations as set forth in the Indenture) shall exercise any rights and powers
conferred by the provisions described under this caption and “Acceleration” above 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 the 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 thereunder or otherwise to the Trustee or to the Holders existing as of or after the
date of execution of the Indenture.
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 under the Indenture, 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.
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