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I\RTICLC: IX DEFAULT PROVISIONS AND REMEDIES OF TRUST EE AND DONDIIOLDERS 3~ction 9 .1 Events of Default. If any of the following <!Ven t~' .Jccurs, it is hereby defined as and declared to be and to constitute -ln "Event of Default": (a) Failure by the Issuer t, pay the principal of, reue:n;:,::.ion premium, if any, or interest. on any □ond as and when the :3a:ne i.:,ec omes due as therein and herein provided, whether such 3hal.l oeco:ne .Jue by maturity or otherwise. (o) Failure by the Issuer to per.form any of the agree- ::ient.;; ,:in its part herein contained (other than its agreement to pay ':.h~ princi2al of, rede mption premium, if any, a nd interest on tne JonJs) 3fter 30 days' written notice of such fai lure (which not.ice :nus t. st.:it.e that it is a "Notice of Default" hereunder) .naJ<? ::iy ':.h~ Trustee to the Issue r or made to the Issuer and the Tt".l~t•~e i}'f the holders of 10% in agg regate principa l amount of the uonJa then Outstanding and sec ured hereby, unless during such perioJ ~r lO'/ exte nsion thereof, the Issuer has taken steps r~asonably calculated to remedy such defau lt. (c) Appointment by a court having jurisdiction of a receiver for the Issuer, or approval by a court of competent J~riulict.ion of any petition for rearrangement or readjust~ent. of t.!\e obli,Jatians of the Issuer un<ler any provisions of the oa n~r~9tcy la~s of the united Sta tes , and the continuation of such appo int~ent or approval unst.ayed and in effect for a period of 60 consecutive <lays. (J) ,\n Ev ent of D~fault under the Loan Agreement or the Gua r::inty. {el Default by the Borrower with respect to any cove- nant. or .1.qreement on its part cont,1ined in any Bond Purchase ,\gree:nl?nt. ::iec tion 9.2 Remedies on Default. Whene ver any Event of Jef~ult sh.:i ll have happeneJ and be subsisting: (.1) The •rrustee may, and upon written request of t he holders of not less than 25".'s in <l<]gregate principal .Jmount of the □onJs then Outstanding shall, by notice in writing delivered to the Is:aul?r, decl.:ire t.he 11np.:iid principal of all of the Bonus then Out~t..:inJing ~nd the interest accrued thereon immediately <lu e and -51-