1988-06-17 Resolution 8 - Laserfiche WebLink

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Whenever, at any time within one (1) year after mailing • of such notice, the Authority shall deliver to the Trustee an instrument or instruments purporting to be executed by the holders of not less than sixty-six and two-thirds percent (66-2/3~) in aggregate principal amount of the Bonds then outstanding, which instrument or instruments shall refer to the proposed supplemental agreement described in such notice and shall specifically consent to and approve the execution thereof - in substantially the form of the copy thereof referred to in such notice as on file with the Trustee; thereupon, but not otherwise, the Trustee may execute such supplemental agreement in substantially such form, without liability or responsibility to any holder of any Bond, whether or not such holder shall have consented thereto. If the holders of not less than sixty-six and two-thirds percent (66-2/3~) in aggregate principal amount of the Bonds outstanding at the time of the execution of such supplemental agreement shall have consented to and approved the execution thereof as herein provided,. no holder of any Bond shall have any right to object to the execution of such supplemental. agreement or to object to any of the terms and provisions contained therein or the operation thereof, or in any manner to question the propriety of the execution thereof, or to enjoin or restrain the Trustee or the Authority from executing the same, or from taking any action pursuant to the provisions thereof. • Upon. the execution of .any supplemental agreement pursuant to the provisions of this section, this Agreement shall be, and shall be deemed, modified-and amended in accordance therewith, and the. respective rights, duties and obligations under this Agreement of the Authority, the Trustee, and all holders of Bonds then outstanding shall thereafter be determined, exercised and enforced hereunder, subject in all respects to such modifications and amendments. Sec. 10.03. The Trustee is authorized to join with the Authority in the execution of any such supplemental agreement and to make the further agreements and stipulations which may be contained therein. Any supplemental agreement executed in accordance with the provisions of this Article shall thereafter form a part of this Agreement, and all the terms and conditions contained in any such supplemental agreement as to any provision authorized to be contained therein shall be, and shall be deemed to be, part of the terms and conditions of this Agreement for any and all purposes. Sec. 10.04. The Trustee shall be entitled to receive, and shall be fully protected in relying upon, the opinion of any counsel approved by it who may be counsel for the Authority, as conclusive evidence that any such proposed supplemental agreement complies with the provisions of this Agreement, and that it is proper for the Trustee, under the provisions of this Article, to • join in the execution of such supplemental agreement.. -32-