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(a) at least a majority in aggregate principal amount of all Bonds then <br /> outstanding in respect of which an Event of Default in the payment of Bond Service <br /> Charges exists, or <br /> (b) at least 25% in aggregate principal amount of all Bonds then outstanding, <br /> in the case of any other Event of Default. <br /> There shall not be so waived, however, any Event of Default described in paragraph (a) <br /> or(b) of Section 7.01 hereof or any declaration of acceleration in connection therewith rescinded <br /> or annulled, unless at the time of that waiver or rescission and annulment payments of the <br /> amounts provided in Section 7.03 hereof for waiver and rescission and annulment in connection <br /> with acceleration of maturity have been made or provision has been made therefor. In the case <br /> of the waiver or rescission and annulment, or in case any suit, action or proceedings taken by the <br /> Trustee on account of any Event of Default shall have been discontinued, abandoned or <br /> determined adversely to it, the Issuer, the Trustee and the Holders shall be restored to their <br /> former positions and rights hereunder, respectively. No waiver or rescission shall extend to any <br /> subsequent or other Event of Default or impair any right consequent thereon. <br /> (End of Article VII) <br /> - 54- <br />