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