1983-102 - Laserfiche WebLink

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Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (1) such holder has pre- viously given written notice to the Trustee of a continuing Event of Default; (2) the holders of not less than 101 in aggregate principal amount of the Outstanding Donds shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; (3) such holder or holders have offered to the Trustee reasonable indemnity against the costs, expenses ~nd liabilities to be incurred in compliance with such requ 8 st; (4) the Trustee for 30 days after its receipt of notice, request and offer of indemnity has failed to institute any such proceedings; and (5) no direc- tion inconsistent with such written request has been given to the 'I'rustee during such 30 day period by the holders of a majority in aggregate principal amount of the Outstanding Bonds: it being understood and intended that no one or more holders of Bonds shall have any right in any manner ,,..hat ever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other holders of Bonds, or to obtain or to seek to obtain priority or preference over any other holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all the holders of Bonds, Notwithstanding any other provision hereof, the right of the holder of any Bond, whi~h is absolute and unconditional, to receive payment of the principal of, premium, if any, and the interest on such Bond on or after the due date thereof, as therein and herein expressed, or to institute suit for the enfor- cement of such payment on or after such t.lue r1ate, or the obli1a- tion of the Issuer, which is also absolute and unconditional, to pay the principal of, premium, if any, and the interest on the Bonds to the respective holders thereof at the time and place in the Bonds expressed, shall not be impaired or affected without the consent of such holder; provi<Jed, however, that no Bondholder shall be entitled to take any action or institute any such suit to enforce the payment of his Bonds, whether for principal, pre- mium or interest, if and to the extent that the taking of such action or the institution or prosecution of any such suit or the entry of judgment therein would under appli cable law result in a surrender, impairment, waiver or loss of the lien thereof upon the Project, or any part thereof, as security for the Bonus held by any other Bondholder. Section 9.11 Remedies cumulative. No remedy herein contained upon or reserve~ to the Trustee or to the holders of the Donds is intended to be exclusive of any other avail~ble remedy or remedies, but ~ach am..l every such remeo..ly shc1. l 1 be cumu- -58-