Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)

Home Browse Search

96 The Trustee shall appoint a temporary chair of the meeting by an instrument or document in writing, unless the meeting shall have been called by the Issuer, the Borrower, the Bank, the Confirming Bank, if any, or by the Holders, as provided in Section 12.02 hereof, in which case the Issuer, the Bank, the Confirming Bank, if any, the Borrower or the Holders calling the meeting, as the case may be, shall appoint a temporary chair in like manner. A permanent chair and a permanent secretary of the meeting shall be elected by vote of the Holders of at least a majority in principal amount of the Bonds represented at the meeting and entitled to vote. The only Persons who shall be entitled to be present or to speak at any meeting of Holders shall be the Persons entitled to vote at the meeting and their counsel, any representatives of the Trustee and its counsel, any representatives of the Issuer and its counsel, any representatives of the Borrower and its counsel, any representatives of the Bank and/or the Confirming Bank, if any, and their counsel and any representatives of the Remarketing Agent and its counsel. Section 12.05. Miscellaneous.Nothing contained in this Article XII shall be deemed or construed to authorize or permit any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to the Holders under any of the provisions of this Indenture or of the Bonds by reason of any call of a meeting of Holders or any right conferred expressly or impliedly hereunder to make a call of a meeting. END OF ARTICLE XII ARTICLE XIII MISCELLANEOUS Section 13.01. Limitation of Rights.With the exception of rights conferred expressly in this Indenture, nothing expressed or mentioned in or to be implied from this Indenture or the Bonds is intended or shall be construed to give to any Person other than the parties hereto, the Borrower, the Remarketing Agent, the Bank, the Confirming Bank, if any, and the Holders of the Bonds any legal or equitable right, remedy, power or claim under or with respect to this Indenture or any covenants, agreements, conditions and provisions contained herein. This Indenture and all of those covenants, agreements, conditions and provisions are intended to be, and are, for the sole and exclusive benefit of the parties hereto, the Borrower, the Bank, the Confirming Bank, if any, t he Remarketing Agent, the Beneficial Owners and the Holders of the Bonds, as provided herein. Notwithstanding any provisions hereof to the contrary, the Bank shall not have any rights hereunder, including, without any limitation, any right to give any direction or to give or withhold consent, unless (a) the Letter of Credit is in full force and effect and no Event of Default has occurred and is continuing under paragraphs (g) or (h) of Section 7.01 hereof or (b) liabilities or obligations are owed to the Bank for the reimbursement of drawings under the Letter of Credit or otherwise under the Reimbursement Agreement. Notwithstanding any provisions hereof to the contrary, the Confirming Bank shall not have any rights hereunder, including, without any limitation, any right to give any direction or to give or withhold consent, unless (a) the Confirming Letter of Credit is in full force and effect and no Event of Default has occurred and is continuing under paragraphs (j) or (k) of Section 7.01 hereof or (b) liabilities or obligations are owed to the Confirming Bank for the reimbursement of drawings under the Confirming Letter of Credit or otherwise under the Confirming Bank Reimbursement Agreement.