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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) <br /> 30 <br />