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1994-06-21 Minutes
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1994-06-21 Minutes
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• to the extent permitted under the applicable provisions of this <br />Indenture; <br />(b) bring suit upon the Bonds; or <br />(c) by action or suit in equity enjoin any acts or <br />things which may be unlawful or in violation of the rights of the <br />owners of Bonds; <br />provided, however, that the Trustee shall have the right to decline <br />to comply with any such request or direction if the Trustee shall <br />be advised by counsel (who may be its own counsel) that the action <br />so requested may not lawfully be taken or the Trustee in good faith <br />shall determine that such action would be unjustly prejudicial to <br />the owners of Bonds not parties to such request. <br />No remedy by the terms of this Indenture conferred upon <br />or reserved to the Trustee (or to the owners of Bonds) is intended <br />to be exclusive of any other remedy, but each and every such remedy <br />.shall be cumulative and shall be in addition to any other remedy <br />given to the Trustee or to the owners of Bonds hereunder now or <br />hereafter existing at law or in equity or by statute; provided, <br />however, that any conditions set forth herein to the taking of any <br />remedy to enforce the provisions of this Indenture or the Bonds <br />shall also be conditions to seeking any remedies under any of the <br />foregoing pursuant to this Section 904. <br />• No delay or omission of the Trustee, the Credit Facilit <br />Y <br />Issuer or any owner of Bonds to exercise any right or power <br />accruing upon any default or Event of Default shall impair any such <br />right or power or shall be construed to be a waiver of any such <br />default or Event of Default, or acquiescence therein; and every <br />such right and power given by this Article IX to the Trustee, the <br />Credit Facility Issuer and the owners of Bonds, .respectively, may <br />be exercised from time to time and as often as may be deemed <br />expedient. <br />No waiver of any default or Event of Default hereunder, <br />whether by the Trustee, the Credit Facility Issuer or by the owners <br />of Bonds, shall extend to or shall affect any subsequent default <br />or Event of Default or shall impair any rights or remedies <br />consequent thereon. <br />Section 905. Direction of Proceedings by Bondholders. <br />If the Credit Facility is not in effect or the Credit Facility <br />Issuer has failed to honor a draft drawn in [Schreiber comment, <br />the owners of not less than 51% in aggregate principal amount of <br />Bonds then outstanding, and the Credit Facility Issuer, subject to <br />Section 1401 hereof, shall have the right, at any time, by an <br />instrument or instruments in writing executed and delivered to the <br />Trustee, to direct the method and place of conducting all <br />~ proceedings to be taken in connection with the enforcement of the <br />79 <br />
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