Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders of 100% of the Bonds then Outstanding with respect to which there is a default; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto.
Appears in 2 contracts
Samples: Trust Indenture, Trust Indenture
Waivers of Events of Default. So long as no Event The Trustee, with the prior written consent of Default has occurred and is then continuing under Section 6.01(b) hereofthe Bank, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, of and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders holders of 100% a majority of the aggregate principal amount of all the Bonds then Outstanding with respect to which there is a defaultOutstanding; provided, however, that there shall not be waived (aA) any Event of Default default in the payment of the principal of any Bonds (other than Purchased Bonds) Outstanding Bond at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds)redemption, (bB) any Event of Default requiring a draw under the Letter of Credit unless the Trustee shall have received written notice from the Bank that the Letter of Credit has been reinstated to its full stated amount, if there has been a reduction thereon, or (C) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, shall have been paid or provided for, and no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto. The Trustee shall not grant any waiver or rescission hereunder unless all ordinary and extraordinary fees and expenses of the Trustee Trustee, including, but not limited to, reasonable attorneys' fees, incurred in connection with such said default shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then then, and in every such case case, the Issuer, the Trustee, the Credit Facility Provider Bank and the Bondholders Bondholders, respectively, shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto.
Appears in 2 contracts
Samples: Plug Power Inc, Mechanical Technology Inc
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if anyprincipal, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of the Holders holders of 100% (a) not less than two-thirds in aggregate principal amount of the Bonds then Outstanding with in respect to of which there is a default in the payment of principal and/or interest exists, or (b) more than 50% in aggregate principal amount of all Bonds then Outstanding in the case of any other default; provided, however, that there shall not be waived or rescinded (a1) any Event of Default in the payment of the principal of any Bonds then Outstanding when due or (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b2) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless unless, prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate per annum borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or interest, all arrears of payments of principal or premiumprincipal, if anywith interest (to the extent permitted by law) at the rate per annum borne by the Bonds, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) due, as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in case of any such waiver or rescission, or in the case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders shall be restored to their former positions and rights hereunder, hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent theretothereon. The provisions of this Section 8.12 are subject to the condition that any waiver of any "Default" under the First Mortgage Bonds Indenture and a rescission and annulment of its consequences shall constitute a waiver of the corresponding Event or Events of Default under Section 8.01(c) hereof and a rescission and annulment of the consequences thereof, but no such waiver, rescission and annulment shall extend to or affect any subsequent Event of Default or impair any right or remedy consequent thereon.
Appears in 2 contracts
Samples: Trust Indenture (Entergy Arkansas Inc), Trust Indenture (Entergy Arkansas Inc)
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall may in its discretion waive any Event event of Default default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, of and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if anyExpenditure Agreement, and interest on the Bonds only shall do so upon the written request of the Holders holders of 100% (1) all the Expenditure Agreement then outstanding in respect of which default in the Bonds payment of principal or interest exists, or (2) all Expenditure Agreement then Outstanding with respect to which there is a outstanding in the case of any other default; provided, however, that there shall not be waived without the consent of all Expenditure Agreement Owners (a) any Event event of Default default in the payment of the principal of any Bonds (other than Purchased Bonds) outstanding Expenditure Agreement at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), Expenditure Agreement unless prior to such waiver or rescission all rescission, arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds Expenditure Agreement in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premiumwhen due, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default (including extraordinary services) shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders Expenditure Agreement Owners shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto.thereon. (End of Article VII)
Appears in 2 contracts
Samples: Trust Indenture, Trust Indenture
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall may waive any Event of Default hereunder that has been remedied and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder (and its consequences consequences) relating to a default in the performance or observance of any covenant, agreement or condition contained in the Indenture, or a breach of a representation or warranty made by the Issuer in the Indenture or in any certificate or report furnished under the Indenture, or the occurrence of any "event of default" under the contracts and rescind related documents governing the transfer and servicing of the Loans and other matters relating to the issuance of the Notes. The Trustee may waive any declaration other Event of maturity of principal of, premium, if any, Default that has occurred and interest on the Bonds is continuing only upon the written request of the Holders of 100% of the Bonds then Outstanding with respect to which there is a defaultRequired Noteholders; provided, however, that there shall not be waived (ax) any Event of Default in the payment of the principal of any Bonds outstanding Notes when due or (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (by) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds)Notes unless, unless prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premiumwhen due, if anywith interest on overdue principal and, when due (whether to the extent permitted by applicable law, interest at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may beDefault Rate, and all expenses of the Trustee in connection with such default Event of Default shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders Noteholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent theretothereon. Any waivers made by the Trustee pursuant to this Section shall be in writing and shall specify the nature of the Event of Default and the effective date of the waiver and the Trustee shall send a copy of all such waivers to the Noteholders and the Rating Agency.
Appears in 2 contracts
Samples: Trust Indenture (PMC Capital Inc), Trust Indenture (PMC Capital Inc)
Waivers of Events of Default. So long as no The Trustee may waive with the written consent of the Initial Purchaser any Event of Default that has been remedied and any Event of Default (and its consequences) relating to a default in the performance or observance of any covenant, agreement or condition contained in the Indenture, or a breach of a representation or warranty made by the Issuer in the Indenture or in any certificate or report furnished under the Indenture, or the occurrence of any "event of default" under the contracts and related documents governing the transfer and servicing of the Loans and other matters relating to the issuance of the Notes. The Trustee may waive any other Event of Default that has occurred and is then continuing under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders of 100% of the Bonds then Outstanding with respect to which there is a defaultRequired Noteholders; provided, however, that there shall not be waived (ax) any Event of Default in the payment of the principal of any Bonds outstanding Notes when due or (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (by) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds)Notes unless, unless prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premiumwhen due, if anywith interest on overdue principal and, when due (whether to the extent permitted by applicable law, interest at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may beDefault Rate, and all expenses of the Trustee in connection with such default Event of Default shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders Noteholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereto.thereon. Any waivers made by the Trustee pursuant to this Section shall be in writing and shall specify the nature of the Event of Default and the effective date of the waiver and the Trustee shall send a copy of all such waivers to the Noteholders and the Rating Agency. ARTICLE X
Appears in 1 contract
Samples: Trust Indenture (PMC Capital Inc)
Waivers of Events of Default. So long as no Event Subject to the next paragraph and to the last two paragraphs of Default has occurred and is Section 9.03, which shall apply at all times with respect to any Bonds then continuing under Section 6.01(b) hereofsecured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default hereunder and rescind its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of the Holders Owners of 100% not less than a majority in aggregate principal amount of the all Bonds then Outstanding (but only with respect to which there is a defaultthe consent of the Bond Insurer); provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified thereinof, or upon proceedings for mandatory redemption premium on, any Outstanding Bonds when due (whether at maturity or in the Purchase Price of any Bonds (other than Purchased Bondsby redemption), (b) or any default Event of Default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission and rescission, all arrears of interestprincipal of and interest upon such Bonds, with and interest (to the extent permitted by law) on overdue principal at the rate borne by the Bonds in respect of on the date on which such default shall have occurred on overdue installments of interest or principal became due and payable, and all arrears of payments of principal or premium, if any, when due (whether at due, together with the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all reasonable expenses of the Trustee in connection with and of the Owners of such default Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and in rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent theretothereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Borrower, the Remarketing Agent and the Auction Agent. The provisions of Sections 9.01 and 9.02 hereof are subject to the conditions that if, after the principal of all Bonds then Outstanding shall have been declared to be due and payable, all arrears of principal of and interest upon such Bonds, and the premium, if any, on all Bonds then Outstanding which shall have become due and payable otherwise than by acceleration, and all other sums payable under this Indenture, except the principal of, and interest on, the Bonds which by such declaration shall have become due and payable, shall have been 66 paid by or on behalf of the Issuer, together with the reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, and if no other defaults shall have occurred and be continuing, and, to the extent that a Letter of Credit is then in effect with respect to any Bonds, the amount available for interest draws under such Letter of Credit shall have been reinstated by the Bank in writing, then and in every such case, the Trustee shall, with the consent of the Bank or the Bond Insurer, as applicable pursuant to Section 9.03, annul such declaration of maturity and its consequences, which waiver and annulment shall be binding upon all Bondholders; but no such waiver, rescission and annulment shall extend to or affect any subsequent default or impair any right or remedy consequent thereon. In the case of any such annulment, the Borrower, the Issuer, the Trustee and the Bondholders shall be restored to their former positions and rights under this Indenture. All waivers and annulments under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Bond Insurer, the Bank, the Borrower, the Remarketing Agent and the Auction Agent, as applicable.
Appears in 1 contract
Waivers of Events of Default. So long as no Event Subject to prior written notice to and prior written consent of Default has occurred and is then continuing under Section 6.01(b) hereofthe Issuer, the Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, of and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if anyBonds, and interest on the Bonds only shall do so upon the written request of the Holders owners of 100% the sum of a majority in aggregate principal amount of all the Bonds then Outstanding with in respect to of which there is a defaultdefault exists; provided, however, that there shall not be waived (ai) any Event of Default in the payment of the principal of or premium on any Outstanding Bonds (other than Purchased Bonds) at the date of maturity specified thereinor redemption thereof, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or and premium, if any (with interest upon such principal and premium, if any, when at a rate which shall be 1 percent per annum above the highest rate of interest borne by any Bond during the 365 days prior to the date on which such principal and premium, if any, were due (whether at or the stated maturity thereof or upon proceedings for mandatory redemptionmaximum rate permitted by law if less than such rate aforesaid) as the case may be, and all expenses of the Trustee Trustee, and all amounts to be paid to the Issuer hereunder and under the Loan Agreement, in connection with such default shall have been paid or provided for, and for or (ii) any default in the payment of amounts set forth in Section 5.1(d) of the Loan Agreement. In case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adverselyadversely to the Trustee, then and in every such case the Issuer, the Trustee, the Credit Facility Provider and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to or affect any subsequent or other default, or impair any right rights or remedies consequent theretothereon.
Appears in 1 contract
Samples: Vaughan Foods, Inc.
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall may in its discretion waive any Event event of Default default hereunder and its consequences and rescind any declaration of maturity acceleration of principal ofof and interest on the Bonds, and shall do so upon the written request of the owners of (1) a majority in aggregate principal amount of all the Bonds then outstanding in respect of which default in the payment of principal and premium, if any, and interest on the Bonds only upon the written direction interest, or any of the Credit Facility Provider. If there shall have occurred and is then continuing an Event them, exists, or (2) a majority in aggregate principal amount of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders of 100% of all the Bonds then Outstanding with respect to which there is a outstanding in the case of any other default; provided, however, that there shall not be waived (a) any Event event of Default default in the payment of the principal of or premium on any outstanding Bonds when due (other than Purchased Bonds) whether at the date of maturity specified thereinor upon redemption), or upon proceedings for mandatory redemption or in the Purchase Price any event of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or and rescission all arrears of interest, principal and interest with interest at the rate borne by the Bonds on overdue principal and (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or and all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default shall default, have been paid or provided for, and in . In the case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders shall be restored to their former positions positions, rights and rights hereunder, obligations hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent theretothereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer. Section 910. Notice of Defaults under Section 901(c); Opportunity of the Company to Cure Defaults. Anything herein to the contrary notwithstanding, no default under Section 901(c) hereof shall constitute an event of default until actual notice of such default by registered or certified mail shall be given to the Issuer and the Company by the Trustee or by the owners of not less than a majority in aggregate principal amount of all Bonds outstanding, and the Issuer and the Company shall have had 30 days after receipt of such notice to correct said default or cause said default to be corrected, and shall not have corrected said default or caused said default to be corrected within the applicable period; provided, however, if said default be such that it cannot be corrected within the applicable period, it shall not constitute an event of default if corrective action is instituted within the applicable period and diligently pursued until the default is corrected, but in no event more than 90 days after receipt of such notice. With regard to any default concerning which notice is given to the Issuer and the Company under the provisions of this Section, the Issuer hereby grants the Company full authority for account of the Issuer to perform or observe any covenant or obligation alleged not to have been performed or observed, in the name and stead of the Issuer with full power to do any and all things and acts to the same extent that the Issuer could do in order to remedy such default.
Appears in 1 contract
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders Owners of 100% a majority in aggregate principal amount of the Bonds then Outstanding with respect to which there is a defaultOutstanding; provided, however, provided that there shall not be waived without the written consent of the Owners of all the Bonds Outstanding (a) any Event of Default in the payment of the principal of any Outstanding Bonds at their maturity, upon the redemption (other than Purchased Bondsincluding as a result of acceleration) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds)tender thereof, (b) any Event of Default under Section 801(e) or (g) hereof (but, with respect to paragraph (g), only with respect to a default under Section 801(e) of the Series 0000X Xxxxxxxxx) unless the Credit Enhancer shall have given written notice to the Trustee that the Credit Facility has been reinstated in full, or (c) any Event of Default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds)unless, unless prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds on overdue installments of interest in respect of which such default shall have occurred on overdue installments of interest occurred, or all arrears of payments of principal or premiumwhen due, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default Event of Default shall have been paid or provided for; provided further that there shall not be waived without the written consent of the Credit Enhancer any Event of Default under Section 801(e)(ii) or (g) hereof (but, with respect to paragraph (g), only with respect to a default under Section 801(e)(ii) of the Series 0000X Xxxxxxxxx); and in provided further that no Event of Default shall be waived without the written consent of the Credit Enhancer if it has honored all its obligations under the Credit Facility. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Borrower, the Trustee, the Credit Facility Provider Bondowners and the Bondholders Credit Enhancer shall be restored to their former positions positions, rights and rights obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent theretothereon.
Appears in 1 contract
Waivers of Events of Default. So long as no Event Subject to prior written notice to and prior written consent of Default has occurred and is then continuing under Section 6.01(b) hereofthe City, the Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, of and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if anyBonds, and interest on the Bonds only shall do so upon the written request of the Holders owners of 100% the sum of a majority in aggregate principal amount of all the Bonds then Outstanding with in respect to of which there is a defaultdefault exists; provided, however, that there shall not be waived (ai) any Event of Default in the payment of the principal of or premium on any Outstanding Bonds (other than Purchased Bonds) at the date of maturity specified thereinor redemption thereof, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or and premium, if any (with interest upon such principal and premium, if any, when at a rate which shall be 1 percent per annum above the highest rate of interest borne by any Bond during the 365 days prior to the date on which such principal and premium, if any, were due (whether at or the stated maturity thereof or upon proceedings for mandatory redemptionmaximum rate permitted by law if less than such rate aforesaid) as the case may be, and all expenses of the Trustee Trustee, and all amounts to be paid to the City hereunder and under the Loan Agreement, in connection with such default shall have been paid or provided for, and for or (ii) any default in the payment of amounts set forth in Section 5.1(d) of the Loan Agreement. In case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adverselyadversely to the Trustee, then and in every such case the IssuerCity, the Trustee, the Credit Facility Provider and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to or affect any subsequent or other default, or impair any right rights or remedies consequent theretothereon.
Appears in 1 contract
Waivers of Events of Default. So long as no The holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 9.04 of the Indenture, shall have the right (subject to the next sentence below) to direct, in accordance with Section 9.01 of the Indenture, a waiver, on behalf of the holders of all of the Notes, of any past default or Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration consequences, provided that such direction to waive is given at a meeting of maturity the Noteholders, in accordance with Article 10 of principal of, premium, if anythe Indenture, and interest on that such waiver be approved by the Bonds only upon the written direction vote of holders of at least a majority of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of aggregate principal of, premium, if any, and interest on the Bonds only upon the written request amount of the Holders of 100Notes at the time outstanding, determined in accordance with Section 9.04, who also hold at least 75% of the Bonds then Outstanding with respect to which there is a default; providedprincipal amount of the Notes present or represented in that Noteholders meeting. Notwithstanding the preceding sentence, however, that there shall the following defaults may not be waived without the consent of the holders of each or all Notes then outstanding or affected thereby: (ai) any Event of Default a default in the payment of interest on, or the principal of of, the Notes, (ii) a failure by the Issuer to convert any Bonds (other than Purchased Bonds) at the date of maturity specified thereinNotes into Ordinary Shares, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (biii) any a default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of a covenant or provisions of the Indenture which such default shall have occurred on overdue installments under the provisions of interest the Trust Indenture Act cannot be modified or amended without the consent of the holders of each or all arrears of payments of principal Notes then outstanding or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in case of affected thereby. Upon any such waiver or rescissionwaiver, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustees and the Bondholders holders of the Notes shall be restored to their former positions and rights hereunder, respectively, under the Indenture; but no such waiver or rescission shall extend to any subsequent or other default, default or Event of Default or impair any right consequent theretothereon. Whenever any default or Event of Default under the Indenture shall have been waived as permitted by Section 6.07 of the Indenture, said default or Event of Default shall for all purposes of the Notes and the Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.
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Samples: Tower Semiconductor LTD
Waivers of Events of Default. So long as no Event Subject to the next paragraph and to the last two paragraphs of Default has occurred and is then continuing under Section 6.01(b) hereof9.03, which shall apply at all times while the Bonds are secured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default hereunder and rescind its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of the Holders Owners of 100% not less than a majority in aggregate principal amount of the all Bonds then Outstanding with respect to which there is a defaultOutstanding; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified thereinof, or upon proceedings for mandatory redemption premium on, any Outstanding Bonds when due (whether at maturity or in the Purchase Price of any Bonds (other than Purchased Bondsby redemption), (b) or any default Event of Default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission and rescission, all arrears of interestprincipal of and interest upon such Bonds, with and interest (to the extent permitted by law) on overdue principal at the rate borne by the Bonds in respect of on the date on which such default shall have occurred on overdue installments of interest or principal became due and payable, and all arrears of payments of principal or premium, if any, when due (whether at due, together with the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all reasonable expenses of the Trustee in connection with and of the Owners of such default Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made; provided further that no waiver of an Event of Default set forth in Section 9.02 and Section 9.03 may become effective unless the Trustee has received written notice from the Bank that the Letter of Credit has been fully reinstated and is in full force and effect and that the notice from the Bank declaring an event of default under the Reimbursement Agreement has been rescinded by the Bank. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent theretothereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Borrower, the Remarketing Agent and the Auction Agent. The provisions of Sections 9.01 and 9.02 hereof are subject to the conditions that if, after the principal of all Bonds then Outstanding shall have been declared to be due and payable, all arrears of principal of and interest upon such Bonds, and the premium, if any, on all Bonds then Outstanding which shall have become due and payable otherwise than by acceleration, and all other sums payable under this Indenture, except the principal of, and interest on, the Bonds which by such declaration shall have become due and payable, shall have been paid by or on behalf of the Issuer, together with the reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, and if no other defaults shall have occurred and be continuing, and, to the extent that a Letter of Credit is then in effect, the amount available for interest draws under such Letter of Credit shall have been reinstated by the Bank in writing, then and in every such case, the Trustee shall, with the consent of the Bank or the Bond Insurer, as applicable (except in the event of a Bank Default or an Insurer Default), annul such declaration of maturity and its consequences, which waiver and annulment shall be binding upon all Holders of Bonds; but no such waiver, rescission and annulment shall extend to or affect any subsequent default or impair any right or remedy consequent thereon. In the case of any such annulment, the Borrower, the Issuer, the Trustee and the Holders of the Bonds shall be restored to their former positions and rights under this Indenture. All waivers and annulments under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Bond Insurer, the Bank, the Borrower, the Remarketing Agent and the Auction Agent, as applicable.
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Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if anyprincipal, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of (a) the Holders holders of 100% (i) a majority in aggregate principal amount of all the Bonds then Outstanding with outstanding in respect of which an Event of Default in the payment of principal or interest exists, or (ii) a majority in aggregate principal amount of all Bonds then outstanding in case of any other default or Event of Default, and (b) prior to which there is a defaultthe Expiration Date of the Letter of Credit, the Bank; provided, however, that there shall not be waived (a) any Event of Default after the Trustee has drawn on the Letter of Credit to provide funds for the payment of the principal of, and the interest on, the Bonds called for redemption pursuant to Section 1102; and there shall not be waived (A) an Event of Default in respect of any failure in the payment of the principal of any outstanding Bonds (other than Purchased Bonds) when due, whether at the date of maturity specified therein, by acceleration or upon proceedings by call for mandatory redemption redemption, or (B) an Event of Default in the Purchase Price respect of any Bonds (other than Purchased Bonds), (b) any default failure in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission rescission, all arrears of interestpayments of principal, redemption premium and interest (with interest (to the extent permitted by law) law at the rate borne by the Bonds in respect of which such default failure shall have occurred on overdue installments of interest or all arrears of payments of principal or premiuminterest), if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee Trustee, in connection with such default Event of Default, shall have been paid or provided for, and in . In case of any such waiver or rescission, rescission or in case any proceeding taken by the Trustee on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Bank and the Bondholders bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other defaultEvent of Default, or impair any right consequent theretothereon.
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Waivers of Events of Default. So long as no Event The Trustee may, with the consent of Default has occurred and is then continuing under Section 6.01(b) hereofthe Credit Obligor, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of the Holders Credit Obligor or (if no Letter of 100% Credit is in effect and less than all of the Bonds then Outstanding with respect to which there is constitute Pledged Bonds) the Holders of a defaultmajority in principal amount of all outstanding Bonds; provided, however, that there shall not be waived (a) any Event of Default in pertaining to the payment when due of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified therein, therein or upon proceedings for mandatory redemption or in of the Purchase Price purchase price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due Bond or of the interest or premium (if any) on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission rescission, all arrears of interestinterest on such Bonds, with interest (to the extent permitted by law) at the rate borne by the such Bonds in respect of which such default shall have occurred on overdue installments of interest or interest, and all arrears of payments of principal or premium, if any, when due (whether purchase price of such Bonds with interest at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may berate borne by such Bonds on overdue principal, and all expenses of the Trustee in connection with such default then due, shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the TrusteeBoard, the Credit Facility Provider Obligor, the Trustee and the Bondholders shall be restored to their former positions and rights hereunderhereunder respectively (subject, respectivelyhowever, to such determination), but no such waiver or rescission shall extend to any subsequent or other defaultEvent of Default, or impair any right consequent thereto.thereon; and provided further that no waiver of an Event of Default under subsection (e) of Section 10.1 hereof shall be effective unless the Trustee receives written notice from the Credit Obligor that the Letter of Credit has been reinstated. The provisions of this Section 10.5 are subject to the condition that with respect to an Event of Default under subsection (e) of Section 10.1 hereof, receipt by the Trustee of written notice from the Credit Obligor of the waiver of any Event of Default under the Credit Agreement, rescission and annulment of the consequences and reinstatement (or verification of reinstatement) of the Letter of Credit shall constitute a waiver of the corresponding Event of Default under the Indenture and a rescission and annulment of the consequences thereof. If notice of such Event of Default under the Credit Agreement shall have been given as provided herein and if the Trustee shall thereafter have received notice that such Event of Default shall have been waived, the Trustee shall promptly give notice by first class mail, postage prepaid, of such waiver, rescission or annulment to the Board, the Company, and the Credit Obligor, and shall give notice thereof by first class mail, postage prepaid, to all registered Holders of the Bonds at their addresses as they appear in the registration books kept by the Trustee. No such waiver, rescission and annulment shall extend to or affect any subsequent Event of Default or impair any right or remedy consequent thereon; and provided further that no waiver of an Event
Appears in 1 contract
Samples: McClain Industries Inc
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if anyprincipal, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of the Holders holders of 100% (a) not less than two-thirds in aggregate principal amount of the Bonds then Outstanding with in respect to of which there is a default in the payment of principal and/or interest exists, or (b) more than 50% in aggregate principal amount of all Bonds then Outstanding in the case of any other default; provided, however, that there shall not be waived or rescinded (a1) any Event of Default in the payment of the principal of any Bonds then Outstanding when due or (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b2) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless unless, prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate per annum borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premiumprincipal, if anywith interest (to the extent permitted by law) at the rate per annum borne by the Bonds, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) due, as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in case of any such waiver or rescission, or in the case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders shall be restored to their former positions and rights hereunder, hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto.thereon. The provisions of this Section 8.12 are subject to the condition that any waiver of any "Default" under the First Mortgage Bonds Indenture and a rescission and annulment of its consequences shall constitute a waiver of the corresponding Event or Events of Default under Section 8.01(d) hereof and a rescission and annulment of the consequences thereof, but no such waiver, rescission and annulment shall extend to or affect any subsequent Event of Default or impair any right or remedy consequent thereon. Notice of Default under Section 8.01(c); Opportunity of Issuer and the Company to Cure Such Default. Anything herein to the contrary notwithstanding, no default under Section 8.01(c) hereof shall constitute an Event of Default until actual notice of such default by registered or certified mail shall be given to the Issuer and the Company by the Trustee or by the holder or holders of not less than 25% in aggregate principal amount of all Bonds Outstanding (with a copy to the Trustee) and the Issuer and the Company shall have had sixty days after receipt of such notice to correct said default or cause said default to be corrected within the applicable period; provided, however, if said default is such that it cannot be corrected within the applicable period, it shall not constitute an Event of Default if corrective action is instituted by the Issuer or the Company within the applicable period and diligently pursued until the default is corrected. With regard to any alleged default concerning which notice is given to the Issuer and the Company under the provisions of this Section 8.13, the Issuer hereby grants the Company full authority for the account of the Issuer to perform any covenant or obligation alleged in said notice to constitute a default, in the name and stead of the Issuer with full power to do any and all things and acts to the same extent that the Issuer could do and perform any such things and acts and with power of substitution. In the event that the Trustee fails to receive any amount when due under the Notes and the Agreement, the Trustee shall immediately give written notice to the Company and the Issuer specifying such failure. THE TRUSTEE
Appears in 1 contract
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if anyprincipal, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of (a) the Holders holders of 100% (i) a majority in aggregate principal amount of all the Bonds then Outstanding with outstanding in respect of which an Event of Default in the payment of principal or interest exists, or (ii) a majority in aggregate principal amount of all Bonds then outstanding in case of any other default or Event of Default and (b) prior to which there is a defaultthe Expiration Date of the Letter of credit, the Bank; provided, however, that there shall not be waived (a) any Event of Default after the Trustee has drawn on the Letter of Credit to provide funds for the payment of the principal of and interest on the Project Bonds called for redemption pursuant to section 8.02 of this Indenture; and there shall not be waived (a) an Event of Default in respect of any failure in the payment of the principal of any outstanding Bonds (other than Purchased Bonds) when due, whether at the date of maturity specified therein, by acceleration or upon proceedings by call for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) an Event of Default in respect of any default failure in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission rescission, all arrears of interestpayments of principal, premium and interest (with interest (to the extent permitted by law) law at the rate borne by the Bonds in respect of which such default failure shall have occurred on overdue installments of interest or all arrears of payments of principal or premiuminterest), if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee Trustee, in connection with such default Event of Default, shall have been paid or provided for, and in In case of any such waiver or rescission, rescission or in case any proceeding taken by the Trustee on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Bank and the Bondholders shall be restored to their former positions and rights hereunder, hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other defaultEvent of Default, or impair any right consequent theretothereon.
Appears in 1 contract
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders Owners of 100% a majority in aggregate principal amount of the Bonds then Outstanding with respect to which there is a defaultOutstanding; provided, however, provided that there shall not be waived without the written consent of the Owners of all the Bonds Outstanding (a) any Event of Default in the payment of the principal of any Outstanding Bonds at their maturity, upon the redemption (other than Purchased Bondsincluding as a result of acceleration) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds)tender thereof, (b) any Event of Default under Section 801(e) or (g) hereof (but, with respect to paragraph (g), only with respect to a default under Section 801(e) of the Series 1994B Indenture) unless the Credit Enhancer shall have given written notice to the Trustee that the Credit Facility has been reinstated in full, or (c) any Event of Default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds)unless, unless prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds on overdue installments of interest in respect of which such default shall have occurred on overdue installments of interest occurred, or all arrears of payments of principal or premiumwhen due, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default Event of Default shall have been paid or provided for; provided further that there shall not be waived without the written consent of the Credit Enhancer any Event of Default under Section 801(e)(ii) or (g) hereof (but, with respect to paragraph (g), only with respect to a default under Section 801(e)(ii) of the Series 0000X Xxxxxxxxx); and in provided further that no Event of Default shall be waived without the written consent of the Credit Enhancer if it has honored all its obligations under the Credit Facility. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Borrower, the Trustee, the Credit Facility Provider Bondowners and the Bondholders Credit Enhancer shall be restored to their former positions positions, rights and rights obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent theretothereon.
Appears in 1 contract
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the Trustee The Fiscal Agent shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, of and interest on the Bonds only Funding Loan upon the written direction of the Credit Facility ProviderFunding Lender Representative. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders of 100% of the Bonds then Outstanding with respect to which there is a default; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in In case of any such waiver or rescission, or in case any proceeding taken by the Trustee Fiscal Agent on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the IssuerGovernmental Lender, the TrusteeFiscal Agent, the Credit Facility Provider Borrower, the Servicer, the Funding Lender Representative and the Bondholders Funding Lender shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto.. Interest on Unpaid Amounts and Default Rate for Nonpayment . In the event that principal of or interest payable on the Funding Loan is not paid when due, there shall be payable on the amount not timely paid, on each Interest Payment Date, interest at the Default Rate, to the extent permitted by law. Interest on the Funding Loan shall accrue at the Default Rate until the unpaid amount, together with interest thereon, shall have been paid in full. Assignment of Project Loan; Remedies Under the Project Loan . The Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing the Fiscal Agent to effect an acceleration of the Funding Loan, to instruct the Fiscal Agent in writing to assign the Project Note, the Security Instrument and the other Mortgage Documents to the Funding Lender Representative, in which event the Fiscal Agent shall (a) endorse and deliver the Project Note to the Funding Lender Representative and assign (in recordable form) the Security Instrument, (b) execute and deliver to the Funding Lender Representative all documents prepared by the Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to the Funding Lender Representative and (c) execute all such documents prepared by the Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (a) and (b). The Fiscal Agent’s assignments to the Funding Lender Representative pursuant to this Section 6.12 shall be without recourse or warranty except that the Fiscal Agent shall represent and warrant in connection therewith (A) that the Fiscal Agent has not previously endorsed or assigned any such documents or instruments and (B) that the Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. The Funding Lender Representative shall have the right, in its own name or on behalf of the Governmental Lender or the Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note or the Security Instrument, whether or not the Governmental Note has been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment. Substitution . Upon receipt of written notice from the Funding Lender Representative and the approval of the Governmental Lender as and to the extent permitted under the Tax Regulatory Agreement, the Fiscal Agent shall exchange the Project Note and the Security Instrument for a new Project Note and Security Instrument, evidencing and securing a new loan (the “New Project Loan”), which may be executed by a person other than the Borrower (the “New Borrower”), provided that if the Fiscal Agent, the Funding Lender or a nominee of the Fiscal Agent or the Funding Lender has acquired the Project through foreclosure, by accepting a deed in lieu of foreclosure or by comparable conversion of the Project, no approval from the Governmental Lender of such exchange shall be required. Prior to accepting a New Project Loan, the Fiscal Agent shall have received (i) written evidence that the New Borrower shall have executed and recorded a document substantially in the form of the Tax Regulatory Agreement (or executed and recorded an assumption of all of the Borrower’s obligations under the Tax Regulatory Agreement) and that the Project Loan Documents have been modified as necessary to be applicable to the New Project Loan, and (ii) an opinion of Bond Counsel, to the effect that such exchange and modification, in and of itself, shall not affect the exclusion, from gross income, for federal income tax purposes of the interest payable on the Governmental Note. CONCERNING THE FISCAL AGENT Standard of Care . The Fiscal Agent, prior to an Event of Default as defined in Section 6.01 hereof and after the curing or waiver of all such events which may have occurred, shall perform such duties and only such duties as are specifically set forth in this Funding Loan Agreement. The Fiscal Agent, during the existence of any such Event of Default (which shall not have been cured or waived), shall exercise such rights and powers vested in it by this Funding Loan Agreement and use the same degree of care and skill in its exercise as a prudent Person would exercise or use under similar circumstances in the conduct of such Person’s own affairs. No provision of this Funding Loan Agreement shall be construed to relieve the Fiscal Agent from liability for its breach of trust, own negligence or willful misconduct, except that: prior to an Event of Default hereunder, and after the curing or waiver of all such Events of Default which may have occurred:
Appears in 1 contract
Samples: Funding Loan Agreement
Waivers of Events of Default. So long Except as no hereinafter provided, at any time, in its discretion, the Trustee, but only with the express written consent of the Bank, other than in the case of an Event of Default has occurred and is then continuing under described in Section 6.01(b7.01(a), (b), (c), (g) or (h) hereof, the Trustee shall may waive any Event of Default hereunder and its consequences and may rescind and annul any declaration of maturity of principal of, premium, if any, and interest on of the Bonds only Bonds. The Trustee shall do so upon the written direction request of the Credit Facility Provider. If there shall have occurred and is then continuing Bank (other than in the case of an Event of Default under described in Section 6.01(b7.01 (a), (b), (c), (g) or (h) hereof). Notwithstanding the foregoing, prior to waiving any Event of Default described in Section 7.01(f) or (i) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any have received written confirmation from the Bank that (i) the Bank has annulled the declaration of maturity of principal of the Bonds and (ii) the Letter of Credit has been reinstated to an amount not less than 100% of the outstanding principal of, premium, plus 56 days interest (or 195 days interest if any, and interest the Interest Rate Mode on the Refunding Bonds only upon is six months or longer) on, the Refunding Bonds computed at the Maximum Rate. . There shall not be so waived, however, any Event of Default described in paragraphs (a), (b), (c), (g) or (h) of Section 7.01 hereof or any declaration of acceleration in connection therewith rescinded or annulled except (i) if such Event of Default shall have been cured and (ii) with the written request consent of the Holders of 100% a majority in aggregate principal amount of all Bonds then outstanding and of the Bonds then Outstanding with respect to which there is a default; provided, however, that there shall not be waived (a) any Event of Default in Bank. In the payment case of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in case of any such waiver or rescissionannulment, or in case any proceeding suit, action or proceedings taken by the Trustee on account of any such default Event of Default shall have been discontinued or discontinued, abandoned or determined adversely, then and in every such case adversely to it; the Issuer, the Trustee, the Credit Facility Provider Bank and the Bondholders Holders shall be restored to their former positions and rights hereunder, respectively, but no such . No waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent theretothereon.
Appears in 1 contract
Samples: Reimbursement Agreement (Centerpoint Properties Corp)
Waivers of Events of Default. So long as no Event Subject to the next paragraph and to the last two paragraphs of Default has occurred and is Section 9.03, which shall apply at all times with respect to any Bonds then continuing under Section 6.01(b) hereofsecured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default hereunder and rescind its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only 65 do so upon the written request of the Holders Owners of 100% not less than a majority in aggregate principal amount of the all Bonds then Outstanding with respect to which there is a defaultOutstanding; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified thereinof, or upon proceedings for mandatory redemption premium on, any Outstanding Bonds when due (whether at maturity or in the Purchase Price of any Bonds (other than Purchased Bondsby redemption), (b) or any default Event of Default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission and rescission, all arrears of interestprincipal of and interest upon such Bonds, with and interest (to the extent permitted by law) on overdue principal at the rate borne by the Bonds in respect of on the date on which such default shall have occurred on overdue installments of interest or principal became due and payable, and all arrears of payments of principal or premium, if any, when due (whether at due, together with the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all reasonable expenses of the Trustee in connection with and of the Owners of such default Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and in rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent thereto.thereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Borrower, the Remarketing Agent and the
Appears in 1 contract
Samples: Southwest Gas Corp
Waivers of Events of Default. So long as no Event Subject to the next paragraph and to the last two paragraphs of Default has occurred and is Section 9.03, which shall apply at all times with respect to any Series of Bonds then continuing under Section 6.01(b) hereofsecured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default with respect to a Series of Bonds hereunder and rescind its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of the Holders Owners of 100% not less than a majority in aggregate principal amount of the all Bonds of such Series then Outstanding with respect to which there is a defaultOutstanding; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified thereinof, or upon proceedings for mandatory redemption premium on, any Outstanding Bonds when due (whether at maturity or in the Purchase Price of any Bonds (other than Purchased Bondsby redemption), (b) or any default Event of Default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission and rescission, all arrears of interestprincipal of and interest upon such Bonds, with and interest (to the extent permitted by law) on overdue principal at the rate borne by the Bonds in respect of on the date on which such default shall have occurred on overdue installments of interest or principal became due and payable, and all arrears of payments of principal or premium, if any, when due (whether at due, together with the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all reasonable expenses of the Trustee in connection with and of the Owners of such default Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and in rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent theretothereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Borrower, the Remarketing Agent and the Auction Agent. The provisions of Sections 9.01 and 9.02 hereof are subject to the conditions that if, after the principal of all Bonds of any Series then Outstanding shall have been declared to be due and payable, all arrears of principal of and interest upon such Bonds, and the premium, if any, on all Bonds of such Series then Outstanding which shall have become due and payable otherwise than by acceleration, and all other sums payable under this Indenture, except the principal of, and interest on, the Bonds of such Series which by such declaration shall have become due and payable, shall have been paid by or on behalf of the Issuer, together with the reasonable expenses of the Trustee and of the Owners of such Bonds of such Series, including reasonable attorneys’ fees paid or incurred, and if no other defaults shall have occurred and be continuing, and, to the extent that a Letter of Credit is then in effect with respect to any Series of Bonds, the amount available for interest draws under such Letter of Credit shall have been reinstated by the Bank in writing, then and in every such case, the Trustee shall, with the consent of the Bank or the Bond Insurer, as applicable (except in the event of a Bank Default or an Insurer Default with respect to the applicable Series of Bonds), annul such declaration of maturity and its consequences, which waiver and annulment shall be binding upon all Holders of Bonds of such Series; but no such waiver, rescission and annulment shall extend to or affect any subsequent default or impair any right or remedy consequent thereon. In the case of any such annulment, the Borrower, the Issuer, the Trustee and the Holders of the Bonds of such Series shall be restored to their former positions and rights under this Indenture. All waivers and annulments under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Bond Insurer, the Bank, the Borrower, the Remarketing Agent and the Auction Agent, as applicable.
Appears in 1 contract
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall may in its discretion waive any Event (of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if anyconsequences, and interest notwithstanding anything else to the contrary contained in this Indenture shall do so on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders Owners of 100% of a majority in aggregate principal amount all the Bonds then Outstanding with respect to which there is a defaultOutstanding; provided, however, that there shall not be waived without the consent of the Owners of 100% of the Bonds then Outstanding as to which the Event of Default exists (a) any Event of Default in the payment of the principal of or premium on any Outstanding Bonds (other than Purchased Bonds) at the date of maturity specified therein, therein or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to therefore such waiver or rescission rescission, all arrears of interestinterest and all arrears of payments of principal and premium, if any, then due, as the case may be (both with interest (to the extent permitted by law) on all overdue installments at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may beBonds), and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in . In case of any such waiver or rescissionwaiver, or in case any proceeding proceedings taken by the Trustee on account of any such default shall Default have been discontinued or abandoned or determined adverselyadversely to the Trustee, then and in every such case the Issuer, the TrusteeCompany, the Credit Facility Provider Trustee and the Bondholders Owners shall be restored to their former positions and rights hereunder, hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other defaultDefault, or impair any right consequent theretothereon. Notwithstanding anything in the foregoing to the contrary, (a) an Event of Default under Section 7.01(d) may be waived only if the Trustee receives written notice from the Credit Provider that the Credit Facility has been restored to the Coverage Amount and (b) an Event of Default under Section 7.01(e) may not be waived without the consent of the Credit Provider.
Appears in 1 contract
Samples: Sterigenics International
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders of 100% of the Bonds then Outstanding with respect to which there is a default; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto.
Appears in 1 contract
Samples: Multifamily Housing Revenue
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders of 100% of the Bonds then Outstanding with respect to which there is a default; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto.
Appears in 1 contract
Samples: Trust Indenture
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereofThe Trustee may, the Trustee shall at its discretion, waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal ofand, premium, if any, and interest on notwithstanding anything to the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under contrary in Section 6.01(b) 6.02 hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of the Holders Owners of 100% (i) not less than a majority in aggregate principal amount of all Outstanding Bonds in respect of which an Event of Default in the payment of any Debt Service Requirements of the Bonds then exists, or (ii) not less than a majority in aggregate principal amount of all Outstanding with respect to which there is a defaultBonds in the case of any other Event of Default; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal Debt Service Requirements of any Outstanding Bonds (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission rescission, all arrears of principal and interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all fees and expenses of the Trustee in connection with such default Event of Default or otherwise in connection with the performance of the Trustee’s duties hereunder, shall have been paid or provided for, and in . In case of any such waiver or rescission, or in case any proceeding taken by the District, the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider and the Bondholders Owners of the Bonds shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent theretothereon. Notice of Defaults Under Section 6.01(c); Opportunity of District to Cure Such Defaults. Anything herein to the contrary notwithstanding, no default under Section 6.01(c) hereof shall constitute an Event of Default until actual notice of such default by registered or certified mail shall be given to the District by the Trustee or by the Owners of not less than 25% in aggregate principal amount of all Outstanding Bonds, and the District shall have had 30 days after receipt of such notice to correct said default or cause said default to be corrected, and shall not have corrected said default or caused said default to be corrected within the applicable period; provided, however, if said default is such that it cannot be corrected within the applicable period, it shall not constitute an Event of Default if corrective action is instituted by the District within the applicable period and diligently pursued until the default is corrected.
Appears in 1 contract
Samples: www.rtd-denver.com
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall may waive any Event of Default hereunder that has been remedied and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder (and its consequences consequences) relating to a default in the performance or observance of any covenant, agreement or condition contained in the Indenture, or a breach of a representation or warranty made by the Issuer in the Indenture or in any certificate or report furnished under the Indenture, or the occurrence of any "event of default" under the contracts and rescind related documents governing the transfer and servicing of the Loans and other matters relating to the issuance of the Notes. The Trustee may waive any declaration other Event of maturity of principal of, premium, if any, Default that has occurred and interest on the Bonds is continuing only upon the written request of the Holders of 100% of the Bonds then Outstanding with respect to which there is a defaultRequired Noteholders; provided, however, that there shall not be waived (ax) any Event of Default in the payment of the principal of any Bonds outstanding Notes when due or (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (by) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds)Notes unless, unless prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premiumwhen due, if anywith interest on overdue principal and, when due (whether to the extent permitted by applicable law, interest at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may beApplicable Remittance Rate, and all expenses of the Trustee in connection with such default Event of Default shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders Noteholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereto.thereon. Any waivers made by the Trustee pursuant to this Section shall be in writing and shall specify the nature of the Event of Default and the effective date of the waiver and the Trustee shall send a copy of all such waivers to the Noteholders and the Rating Agency. TRUST INDENTURE - Page 38 ARTICLE X
Appears in 1 contract
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the The Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders holders of 100% a majority in aggregate principal amount of the all Bonds then Outstanding with respect to which there is a defaultan Event of Default; provided, however, that there shall not be waived (a) any Event of Default default in the payment of the principal amount of any Bonds (other than Purchased Bonds) at the date of maturity specified therein, therein or upon proceedings for mandatory redemption redemption, or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium premium, if any, on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default Event of Default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default monetary default, shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the TrusteeBorrower, the Credit Facility Provider Trustee and the Bondholders shall be restored to their former positions and rights hereunder, hereunder respectively, but no . No such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto; and no delay or omission of the Trustee or of any Bondholders to exercise any right or power accruing upon any Event of Default shall impair any right or power or shall be construed to be a waiver of any such Event of Default, or acquiescence therein.
Appears in 1 contract
Samples: Financing Agreement
Waivers of Events of Default. So long as no The holders of a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 9.04 of the Indenture, shall have the right (subject to the next sentence below) to direct, in accordance with Section 9.01 of the Indenture, a waiver, on behalf of the holders of all of the Notes, of any past default or Event of Default has occurred and its consequences, provided that such direction to waive is then continuing under given at a meeting of the Noteholders, in accordance with Article 10 of the Indenture, and that such waiver be approved by the vote of holders of at least a majority of the aggregate principal amount of the Notes at the time outstanding, determined in accordance with Section 6.01(b) hereof9.04, who also hold at least 75% of the principal amount of the Notes present or represented in that Noteholders meeting. Notwithstanding the preceding sentence, the Trustee shall waive any Event following defaults may not be waived without the consent of Default hereunder and its consequences and rescind any declaration the holders of maturity each or all Notes then outstanding or affected thereby: (i) a default in the payment of interest on, or the principal of, premiumthe Notes, if any(ii) a failure by the Issuer to convert any Notes into Ordinary Shares, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b(iii) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders of 100% of the Bonds then Outstanding with respect to which there is a default; provided, however, that there shall not be waived (a) any Event of Default default in the payment of the principal redemption premium pursuant to Section 3.03 of any Bonds (other than Purchased Bonds) at the date of maturity specified thereinIndenture, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (biv) any a default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of a covenant or provisions of the Indenture which such default shall have occurred on overdue installments under the provisions of interest the Trust Indenture Act cannot be modified or amended without the consent of the holders of each or all arrears of payments of principal Notes then outstanding or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in case of affected thereby. Upon any such waiver or rescissionwaiver, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustees and the Bondholders holders of the Notes shall be restored to their former positions and rights hereunder, respectively, under the Indenture; but no such waiver or rescission shall extend to any subsequent or other default, default or Event of Default or impair any right consequent theretothereon. Whenever any default or Event of Default under the Indenture shall have been waived as permitted by Section 6.07 of the Indenture, said default or Event of Default shall for all purposes of the Notes and the Indenture be deemed to have been cured and to be not continuing; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.
Appears in 1 contract
Samples: Tower Semiconductor LTD
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Subject to Section 6.01(b) hereof814, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders Owners of 100% a majority in aggregate principal amount of the Bonds then Outstanding with respect to which there is a defaultOutstanding; provided, however, provided that there shall not be waived without the consent of the Owners of all the Bonds Outstanding (a) any Event of Default in the payment of the principal of any Outstanding Bonds (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds)their maturity, (b) any default Event of Default in the payment of the purchase price of any Outstanding Bonds, or (c) any Event of Default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds)unless, unless prior to such waiver or rescission rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds on overdue installments of interest in respect of which such default shall have occurred on overdue installments of interest occurred, or all arrears of payments of principal or premiumwhen due, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all fees, charges and expenses of the Trustee in connection with such default Event of Default shall have been paid or provided for; and, provided further, the Trustee shall not waive an Event of Default described in Section 801(g) unless the Trustee has received written notification from the Letter of Credit Provider consenting to such waiver and stating that the Event of Bankruptcy has been discharged or dismissed and that the Letter of Credit has been reinstated in full. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default shall have Event of Default has been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Lessee, the Trustee, the Credit Facility Provider Bondowners and the Bondholders Letter of Credit Provider shall be restored to their former positions positions, rights and rights obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent theretothereon.
Appears in 1 contract
Samples: Trust Indenture (Labone Inc)
Waivers of Events of Default. So long as no Event The Trustee, with the prior written consent of Default has occurred and is then continuing under Section 6.01(b) hereofthe Bank, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, of and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders holders of 100% a majority of the aggregate principal amount of all the Bonds then Outstanding with respect to which there is a defaultOutstanding; provided, however, that there shall not be waived (aA) any Event of Default default in the payment of the principal of any Bonds (other than Purchased Bonds) Outstanding Bond at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds)redemption, (bB) any Event of Default requiring a draw under the Letter of Credit unless the Trustee shall have received written notice from the Bank that the Letter of Credit has been reinstated to its full stated amount, if there has been a reduction thereon, or (C) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne bond by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, shall have been paid or provided for, and no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto. The Trustee shall not grant any waiver or rescission hereunder unless all ordinary and extraordinary fees and expenses of the Trustee Trustee, including, but not limited to, reasonable attorneys' fees, incurred in connection with such said default shall have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then then, and in every such case case, the Issuer, the Trustee, the Credit Facility Provider Bank and the Bondholders Bondholders, respectively, shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto.
Appears in 1 contract
Samples: Trust Indenture (Angiodynamics Inc)
Waivers of Events of Default. So long as no Event Subject to the next paragraph and to the last two paragraphs of Default has occurred and is Section 9.03, which shall apply at all times with respect to any Bonds then continuing under Section 6.01(b) hereofsecured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default hereunder and rescind its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only do so upon the written request of the Holders Owners of 100% not less than a majority in aggregate principal amount of the all Bonds then Outstanding with respect to which there is a defaultOutstanding; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified thereinof, or upon proceedings for mandatory redemption premium on, any Outstanding Bonds when due (whether at maturity or in the Purchase Price of any Bonds (other than Purchased Bondsby redemption), (b) or any default Event of Default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission and rescission, all arrears of interestprincipal of and interest upon such Bonds, with and interest (to the extent permitted by law) on overdue principal at the rate borne by the Bonds in respect of on the date on which such default shall have occurred on overdue installments of interest or principal became due and payable, and all arrears of payments of principal or premium, if any, when due (whether at due, together with the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all reasonable expenses of the Trustee in connection with and of the Owners of such default Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and in rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default shall have been discontinued or abandoned or determined adversely, then and in every such case the Issuer, the Trustee, the Credit Facility Provider Trustee and the Bondholders shall be restored to their former positions and rights hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent theretothereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Borrower, the Remarketing Agent and the Auction Agent. The provisions of Sections 9.01 and 9.02 hereof are subject to the conditions that if, after the principal of all Bonds then Outstanding shall have been declared to be due and payable, all arrears of principal of and interest upon such Bonds, and the premium, if any, on all Bonds then Outstanding which shall have become due and payable otherwise than by acceleration, and all other sums payable under this Indenture, except the principal of, and interest on, the Bonds which by such declaration shall have become due and payable, shall have been paid by or on behalf of the Issuer, together with the reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, and if no other defaults shall have occurred and be continuing, and, to the extent that a Letter of Credit is then in effect with respect to any Bonds, the amount available for interest draws under such Letter of Credit shall have been reinstated by the Bank in writing, then and in every such case, the Trustee shall, with the consent of the Bank or the Bond Insurer, as applicable pursuant to Section 9.03, annul such declaration of maturity and its consequences, which waiver and annulment shall be binding upon all Bondholders; but no such waiver, rescission and annulment shall extend to or affect any subsequent default or impair any right or remedy consequent thereon. In the case of any such annulment, the Borrower, the Issuer, the Trustee and the Bondholders shall be restored to their former positions and rights under this Indenture. All waivers and annulments under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Bond Insurer, the Bank, the Borrower, the Remarketing Agent and the Auction Agent, as applicable.
Appears in 1 contract
Waivers of Events of Default. So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the Trustee The Fiscal Agent shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, of and interest on the Bonds only Funding Loan upon the written direction of the Credit Facility ProviderFunding Lender Representative. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Holders of 100% of the Bonds then Outstanding with respect to which there is a default; provided, however, that there shall not be waived (a) any Event of Default in the payment of the principal of any Bonds (other than Purchased Bonds) at the date of maturity specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), (b) any default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless prior to such waiver or rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all expenses of the Trustee in connection with such default shall have been paid or provided for, and in In case of any such waiver or rescission, or in case any proceeding taken by the Trustee Fiscal Agent on account of any such default Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the IssuerGovernmental Lender, the TrusteeFiscal Agent, the Credit Facility Provider Borrower, the Servicer, the Funding Lender Representative and the Bondholders Funding Lender shall be restored to their former positions and rights hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto. Interest on Unpaid Amounts and Default Rate for Nonpayment . In the event that principal of or interest payable on the Funding Loan is not paid when due, there shall be payable on the amount not timely paid, on each Interest Payment Date, interest at the Default Rate, to the extent permitted by law. Interest on the Funding Loan shall accrue at the Default Rate until the unpaid amount, together with interest thereon, shall have been paid in full. Assignment of Project Loan; Remedies Under the Project Loan . The Funding Lender Representative shall have the right, with respect to the Project Loan, in its sole and absolute discretion, without directing the Fiscal Agent to effect an acceleration of the Funding Loan, to instruct the Fiscal Agent in writing to assign the Project Note, the Security Instrument and the other Project Loan Documents to the Funding Lender Representative, in which event the Fiscal Agent shall (a) endorse and deliver the Project Note to the Funding Lender Representative and assign (in recordable form) the Security Instrument, (b) execute and deliver to the Funding Lender Representative all documents prepared by the Funding Lender Representative necessary to assign (in recordable form) all other Project Loan Documents to the Funding Lender Representative and (c) execute all such documents prepared by the Funding Lender Representative as are necessary to legally and validly effectuate the assignments provided for in the preceding clauses (a) and (b). The Fiscal Agent’s assignments to the Funding Lender Representative pursuant to this Section 6.12 shall be without recourse or warranty except that the Fiscal Agent shall represent and warrant in connection therewith (A) that the Fiscal Agent has not previously endorsed or assigned any such documents or instruments and (B) that the Fiscal Agent has the corporate authority to endorse and assign such documents and instruments and such endorsements and assignments have been duly authorized. The Funding Lender Representative shall have the right, in its own name or on behalf of the Governmental Lender or the Fiscal Agent, to declare any default and exercise any remedies under the Project Loan Agreement, the Project Note or the Security Instrument, whether or not the Governmental Note has been accelerated or declared due and payable by reason of an Event of Default or the occurrence of a mandatory prepayment. Substitution . Upon receipt of written notice from the Funding Lender Representative and the approval of the Governmental Lender as and to the extent permitted under the Tax Regulatory Agreement, the Fiscal Agent shall exchange the Project Note and the Security Instrument for a new Project Note and Security Instrument, evidencing and securing a new loan (the “New Project Loan”), which may be executed by a person other than the Borrower (the “New Borrower”), provided that if the Fiscal Agent, the Funding Lender or a nominee of the Fiscal Agent or the Funding Lender has acquired the Project through foreclosure, by accepting a deed in lieu of foreclosure or by comparable conversion of the Project, no approval from the Governmental Lender of such exchange shall be required. Prior to accepting a New Project Loan, the Fiscal Agent shall have received (i) written evidence that the New Borrower shall have executed and recorded a document substantially in the form of the Tax Regulatory Agreement (or executed and recorded an assumption of all of the Borrower’s obligations under the Tax Regulatory Agreement) and that the Project Loan Documents have been modified as necessary to be applicable to the New Project Loan, and (ii) an opinion of Bond Counsel, to the effect that such exchange and modification, in and of itself, shall not affect the exclusion, from gross income, for federal income tax purposes of the interest payable on the Governmental Note. CONCERNING THE FISCAL AGENT Standard of Care . The Fiscal Agent, prior to an Event of Default as defined in Section 6.01 hereof and after the curing or waiver of all such events which may have occurred, shall perform such duties and only such duties as are specifically set forth in this Funding Loan Agreement. The Fiscal Agent, during the existence of any such Event of Default (which shall not have been cured or waived), shall exercise such rights and powers vested in it by this Funding Loan Agreement and use the same degree of care and skill in its exercise as a prudent Person would exercise or use under similar circumstances in the conduct of such Person’s own affairs. No provision of this Funding Loan Agreement shall be construed to relieve the Fiscal Agent from liability for its breach of trust, own negligence or willful misconduct, except that: prior to an Event of Default hereunder, and after the curing or waiver of all such Events of Default which may have occurred: the duties and obligations of the Fiscal Agent shall be determined solely by the express provisions of this Funding Loan Agreement, and the Fiscal Agent shall not be liable except with regard to the performance of such duties and obligations as are specifically set forth in this Funding Loan Agreement; and in the absence of bad faith on the part of the Fiscal Agent, the Fiscal Agent may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificate or opinion furnished to the Fiscal Agent by the Person or Persons authorized to furnish the same; at all times, regardless of whether or not any such Event of Default shall exist: the Fiscal Agent shall not be liable for any error of judgment made in good faith by an officer or employee of the Fiscal Agent except for willful misconduct or negligence by the officer or employee of the Fiscal Agent as the case may be; and the Fiscal Agent shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Funding Lender Representative relating to the time, method and place of conducting any proceeding for any remedy available to the Fiscal Agent, or exercising any trust or power conferred upon the Fiscal Agent under this Funding Loan Agreement.
Appears in 1 contract
Samples: Funding Loan Agreement
