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8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
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8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
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3/21/2013 4:22:24 PM
Creation date
10/1/2012 2:09:23 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/13/1993
Ord-Res Number
8443-93
Bill Number
108-93
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conferred or imposed upon and exercised by the Trustee or by the Trustee and such <br />co- trustee or separate trustee jointly, as shall be provided in the instrument appointing <br />such co- trustee or separate trustee, except to the extent that under any law of any <br />jurisdiction in which any particular act is to be performed, the Trustee shall be <br />incompetent or unqualified to perform such act, in which event such rights, powers, <br />duties and obligations shall be exercised and performed by such co- trustee or separate <br />trustee. <br />(c) The Trustee at any time, by an instrument in writing executed by it with <br />the concurrence of the Issuer, may accept the resignation of or remove any co- trustee <br />or separate trustee appointed under this Section, and, in case an Event of Default has <br />occurred and is continuing, the Trustee shall have power to accept the resignation of, <br />or remove, any such co- trustee or separate trustee without the concurrence of the <br />Issuer, upon the written request of the Trustee, the Issuer shall join with the Trustee <br />in the execution, delivery and performance of all instruments and agreements <br />necessary or proper to effectuate such resignation or removal. A successor to any co- <br />trustee or separate trustee so resigned or removed may be appointed in the manner <br />provided in this Section. <br />(d) No co- trustee or separate trustee hereunder shall be personally liable by <br />reason of any act or omission of the trustee or any other such trustee hereunder, <br />(e) Any Act of the holders delivered to the Trustee shall be deemed to have <br />been delivered to each such co- trustee and separate trustee. <br />Section 1013. Trustee's Discretion. Except as specifically provided in this Indenture <br />or the Agreement, whenever this Indenture or the Loan Agreement calls for or allows <br />discretionary action on the part of the Trustee, including without limiting the generality of <br />such actions, the giving or withholding of any consent, waiver, approval, or declaration, <br />such action shall not be taken without the approval of Aetna, if and so long as Aetna is the <br />holder of any Bonds, and otherwise by the holders of a majority in aggregate principal <br />amount of Bonds outstanding the Trustee shall take any action authorized by it to be taken <br />hereunder. <br />ARTICLE XI <br />SUPPLEMENTAL INDENTURES <br />Section 1101. Supplemental Indentures. The Issuer and the Trustee shall not, without <br />the consent of the holders of all of the Bonds, enter into an indenture or indentures <br />supplemental to this Indenture. <br />-37- <br />
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