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1994-06-21 Minutes
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1994-06-21 Minutes
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notified in writing of such default by the Authority, by the Credit <br />• Facility Issuer, by the Remarketing Agent or by the owners of at <br />least 25o in aggregate principal amount of all Bonds then <br />outstanding, and all notices or other instruments required by this <br />Indenture to be delivered to the Trustee must, in order to be <br />effective, be delivered at the Principal Office of the Trustee, and <br />in the absence of such notice so delivered the Trustee may <br />conclusively assume there is no default except as aforesaid. <br />(h) The Trustee shall not be personally liable for any <br />debts contracted or for damages to persons or to personal property <br />injured or damaged, or for salaries or nonfulfillment of contracts <br />during any period in which it may be in possession of or managing <br />the Property of the Authority. <br />(i) At any and all reasonable times, the Trustee, and <br />its duly authorized agents, attorneys, experts, engineers, <br />accountants and representatives, shall have the right fully to <br />inspect any and all of the property pledged hereunder, including <br />all books, papers and records of the Authority pertaining to the <br />property pledged hereunder and the Bonds, and to take such <br />memoranda from and in regard thereto as may be desired. <br />(j) The Trustee shall not be required to give any bond <br />or surety in respect of the execution of the said trusts and powers <br />or otherwise in respect of the premises. <br />• (k) Before taking any action under this Section 1001 <br />other than an acceleration when required pursuant to Section 803 <br />hereof, a redemption of Bonds pursuant to 511(c) or a drawing under <br />the Credit Facility and payment on the Bonds with the proceeds of <br />such drawing and transfer of amounts due the Credit Facility Issuer <br />in accordance herewith, the Trustee may require that a satisfactory <br />indemnity bond be furnished for the reimbursement of all expenses <br />to which it may be put and to protect it against all liability, <br />except liability which is adjudicated to have resulted from its <br />negligence or willful default in connection with any action so <br />taken. <br />(1) All moneys received by the Trustee, the Tender Agent <br />or any Paying Agent shall, until used or applied or invested as <br />provided in this Indenture, be held in trust for the purposes for <br />which they were received but need not be segregated from other <br />funds except to the extent required by law, by this Indenture or <br />by the Tax Exemption Agreement. Neither the Trustee, the Tender <br />Agent nor any Paying Agent shall be under any liability for <br />interest on any moneys received hereunder except such as may be <br />agreed upon. <br />Section 1002. Compensation and Expenses of Trustee <br />Tender Accent and Any Additional Paying Agent. The Trustee, the <br />Tender Agent shall be entitled to payment and/or reimbursement for <br />• 89 <br />
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