Regarding Issurance of economic development revenue refunding bonds Regency Place Project

Home Browse Search

1 Y rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent default, nor shall it impair or exhaust any right or power consequent thereon. Upon the happening and continuance of an event of default, the Trustee in its own name and as trustee of an express trust, on behalf and for the benefit and protection of the holders of all Bonds, may also proceed to protect and enforce any rights of the Trustee and, to the full extent that the holders of such Bonds themselves might do, the rights of such Bondholders under the laws of the State or under this Indenture by such of the following remedies as the Trustee shall deem most effectual to protect and enforce such rights. (1) by mandamus or other suit, action or proceeding at law or in equity, to enforce the payment of the principal of, premium, if any, or interest on the Bonds then Outstanding, or for the specific performance of any covenant or agreement contained herein or in the Loan Agreement, the Note, or the Mortgage, or to require the Issuer to carry out any other covenant or agreement with Bondholders and to perform its duties under the Act; (2) by pursuing any available remedies under the Loan Agreement, the Note or the Mortgage; (3) in connection with an event of default under Section 601(a) or (b), by realizing or causing to be realized through sale or otherwise upon the security pledged hereunder; and (4) by action or suit in equity, to enjoin any acts or things that may be unlawful or in violation of the rights of the holders of Bonds. No remedy by the terms of this Indenture conferred upon or reserved to the Trustee or to the Bondholders is intended to be exclusive of any other remedy, but each and every such remedy shall be cumulative and shall be in addition to any other remedy given to the Trustee or to the Bondholders hereunder or under the Loan Agreement, the Note or the Mortgage, or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default or event of default shall impair any such right or power or shall be construed to be a waiver of any such default or event of default or acquiescence therein, and every such right and power may be exercised from time to time and as often as may be deemed expedient. No waiver of any default or event of default hereunder, whether by the Trustee or by the Bondholders, shall extend to or shall affect any subsequent default or event of default or shall impair any rights or remedies consequent thereto. Section 603. Rights of Bondholders. If any event of default shall have occurred and if requested in writing so to do by the owners of not less than 25% of the Bond with respect to 2975.1 36