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declared in every case at the option of the Trustee to be conditions precedent to the execution of <br /> the powers and trusts of this Indenture, and to any action or cause of action for the enforcement of <br /> this Indenture, or for the appointment of a receiver or for any other remedy hereunder; it being <br /> understood and intended that no one or more holders of the Bonds shall have any right in any <br /> manner whatsoever to affect,disturb or prejudice the lien of this Indenture by its,his or their action <br /> or to enforce any right hereunder except in the manner herein provided, and that all proceedings <br /> at law or in equity shall be instituted, had and maintained in the manner herein provided and for <br /> the equal benefit of the holders of all Bonds then outstanding.Nothing in this Indenture contained <br /> shall, however, affect or impair the right of any Bondholder to enforce the covenants of the Issuer <br /> to pay the principal of and interest on each of the Bonds issued hereunder to the respective holders <br /> thereof at the time, place, from the source and in the manner in said Bonds expressed. <br /> Section 7.8. Termination of Proceedings. In case the Trustee shall have <br /> proceeded to enforce any right under this Indenture by the appointment of a receiver,or otherwise, <br /> and such proceedings shall have been discontinued or abandoned for any reason, or shall have <br /> been determined adversely, then and in every such case the Issuer, the Company and the Trustee <br /> shall be restored to their former positions and rights hereunder,and all rights,remedies and powers <br /> of the Trustee shall continue as if no such proceedings had been taken. <br /> Section 7.9. Waivers of Events of Default. At the written direction of the <br /> Requisite Bondholders the Trustee may in its discretion waive any event of default hereunder and <br /> its consequences and rescind any declaration of maturity of principal of and interest on the Bonds, <br /> and shall do so upon the written request of the holders of(1) all the Bonds then outstanding in <br /> respect of which default in the payment of principal or interest exists, or (2) all Bonds then <br /> outstanding in the case of any other default; provided, however, that there shall not be waived <br /> without the consent of all Bondholders (a) any event of default in the payment of the principal of <br /> any outstanding Bonds at the date of maturity specified therein, or(b) any default in the payment <br /> when due of the interest on any such Bonds unless prior to such waiver or rescission, arrears of <br /> interest, with interest(to the extent permitted by law) at the rate borne by the Bonds in respect of <br /> which such default shall have occurred on overdue installments of interest or all arrears of <br /> payments of principal when due,as the case may be,and all expenses of the Trustee in connection <br /> with such default shall have been paid or provided for,and in case of any such waiver or rescission, <br /> or in case any proceeding taken by the Trustee on account of any such default shall have been <br /> discontinued or abandoned or determined adversely, then and in every such case the Issuer, the <br /> Trustee and the Bondholders shall be restored to their former positions and rights hereunder, <br /> respectively, but no such waiver or rescission shall extend to any subsequent or other default, or <br /> impair any right consequent thereon. <br /> (End of Article VII) <br /> 30 <br />