Laserfiche WebLink
good faith determine that the withholding of notice to the Holders is in the interests of the <br /> Holders. <br /> Section 7.03. Acceleration. Upon the occurrence of an Event of Default described in <br /> Section 7.01(a) and (b), the Trustee shall declare, by a notice in writing delivered to the <br /> Borrower, the principal of all Bonds then outstanding (if not then due and payable), and the <br /> interest accrued thereon, to be due and payable immediately, with payment to be made in <br /> accordance with Section 7.06 hereof. For all other Events of Default, the Trustee shall declare <br /> upon the written request of the Holders of not less than 25% in aggregate principal amount of <br /> Bonds then outstanding declare the principal of all Bonds then outstanding (if not then due and <br /> payable), and the interest accrued thereon, to be due and payable immediately. <br /> The provisions of the preceding paragraph are subject, however, to the condition that if, <br /> at any time after declaration of acceleration and prior to the entry of a judgment in a court for <br /> enforcement hereunder(after an opportunity for hearing by the Issuer and the Borrower), <br /> (a) all sums payable hereunder (except the principal of and interest on Bonds which <br /> have not reached their stated Maturity Date but which are due and payable solely by reason of <br /> that declaration of acceleration), plus interest to the extent permitted by law on any overdue <br /> installments of interest at the rate borne by the Bonds in respect of which the default shall have <br /> occurred, shall have been duly paid or provision shall have been duly made therefor by deposit <br /> with the Trustee or Paying Agents, and <br /> (b) all existing Events of Default shall have been cured, then and in every case, the <br /> Trustee shall waive the Event of Default and its consequences and shall rescind and annul that <br /> declaration. No waiver or rescission and annulment shall extend to or affect any subsequent <br /> Event of Default or shall impair any rights consequent thereon. <br /> Section 7.04. Other Remedies; Rights of Holders. With or without taking action under <br /> Section 7.03 hereof, upon the occurrence and continuance of an Event of Default, the Trustee <br /> may pursue any available remedy, including without limitation actions at law or equity to <br /> enforce the payment of Bond Service Charges or the observance and performance of any other <br /> covenant, agreement or obligation under this Indenture, the Agreement, the Regulatory <br /> Agreement or the Note or any other instrument providing security, directly or indirectly, for the <br /> Bonds. <br /> If, upon the occurrence and continuance of an Event of Default, the Trustee is requested <br /> so to do by the Holders of at least 25% in aggregate principal amount of Bonds outstanding, the <br /> Trustee (subject to the provisions of Sections 6.01 and 6.02 and particularly subparagraph <br /> 6.01(c)(iv) and Subsection 6.02 (j) of those Sections), shall exercise any rights and powers <br /> conferred by this Section and by Section 7.03 hereof. <br /> No remedy conferred upon or reserved to the Trustee(or to the Holders)by this Indenture <br /> is intended to be exclusive of any other remedy. Each remedy shall be cumulative and shall be <br /> in addition to every other remedy given hereunder or otherwise to the Trustee or to the Holders <br /> now or hereafter existing. <br /> - 50 - <br />