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1994-06-21 Minutes
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1994-06-21 Minutes
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the subject matter, and the Trustee, the Tender Agent and any <br />• additional Paying Agent shall be under no duty to make any <br />investigation or inquiry as to any statements contained or matters <br />referred to in any such instrument, but may accept and rely upon <br />the same as conclusive evidence of the truth and accuracy of such <br />statements. Neither the Trustee, the Tender Agent nor any Paying <br />Agent shall be bound to recognize any person as an owner of Bonds <br />or to take any action at such person's request unless satisfactory <br />evidence of the ownership of such Bond shall be furnished to such <br />entity. <br />Section 1005. Dealings in Bonds. The Trustee, the <br />Tender Agent and any additional Paying Agent, in its individual <br />capacity, may in good faith buy, sell, own, hold and deal in any <br />of the Bonds issued hereunder, and may join in any action which any <br />owner may be entitled to take with like effect as if it did not act <br />in any capacity hereunder. The Trustee, the Tender Agent and any <br />additional Paying Agent, in its individual capacity, either as <br />principal or Agent, may also engage in or be interested in any <br />financial or other transaction with the Authority, and may act as <br />depositary, trustee or Agent for any committee or body of owners <br />of Bonds secured hereby or other obligations of the Authority as <br />freely as if it did not act in any capacity hereunder. <br />Section 1006. Several Capacities. Anything in this <br />Indenture to the contrary notwithstanding, the same entity may <br />serve hereunder as the Trustee, the Tender Agent, the Paying Agent, <br />• the Registrar or the Remarketing Agent and in any other combination <br />of such capacities, to the extent permitted by law. <br />Section 1007. Intervention by Trustee. In any judicial <br />proceeding to which the Authority is a party and which in the <br />opinion of the Trustee and its counsel has a substantial bearing <br />on the interests of owners of the Bonds, the Trustee may intervene <br />on behalf of Bondholders and, subject to the provisions of <br />Section 1001(k) hereof, shall do so if requested in writing by the <br />owners of at least 25% in aggregate principal amount of all Bonds <br />then outstanding with the consent of the Credit Facility Issuer <br />subject to Section 1401 hereof, or if requested in writing by the <br />Credit Facility Issuer (without any action on the part of the <br />Bondholders) subject to Section 1401 hereof. The rights and <br />obligations of the Trustee under this Section are subject to the <br />approval of a court of competent jurisdiction. <br />Section 1008. Successor Trustee by Merger or <br />Consolidation. Any corporation or association into which the <br />Trustee may be converted or merged, or with which it may be <br />consolidated, or to which it may sell or transfer its corporate <br />trust business and assets as a whole or substantially as a whole, <br />or any corporation or association resulting from any such <br />conversion, sale, merger, consolidation or transfer to which it is <br />a party, provided such corporation or association is otherwise <br />• 91 <br />
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