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No delay or omission to exercise any right or power accruing upon any Event of Default shall
<br />impair any such right or power or shall be construed to be a waiver of any such Event of Default or
<br />acquiescence therein; such right or power may be exercised from time to time as often as may be deemed
<br />expedient.
<br />No waiver of any Event of Default hereunder, whether by the Trustee or by the Registered
<br />Owners, shall extend to or shall affect any subsequent Event of Default or shall impair any rights or
<br />remedies consequent thereon.
<br />Section 9.04 Right of Registered Owners to Direct Proceedings. Anything in this Indenture
<br />to the contrary notwithstanding, the Registered Owners of a majority in aggregate principal amount of the
<br />Outstanding Bonds, shall have the right, at any time, by an instrument or instruments in writing executed
<br />and delivered to the Trustee, and the provision of indemnity in accordance with Section 10.01(1) hereof,
<br />to direct the method and place of conducting all proceedings to be taken in connection with the
<br />enforcement of the terms and conditions of this Indenture, or for the appointment of a receiver or any
<br />other proceedings hereunder, provided that such direction shall not be otherwise than in accordance with
<br />the provisions of law and of this Indenture, including, without limitation, (i) the right to accelerate the
<br />principal of the Bonds as described in this Indenture and (ii) the right to annul any declaration of
<br />acceleration.
<br />Section 9.05 Appointnient of Receivers. Upon the occurrence of an Event of Default, and
<br />upon the filing of a suit or other commencement of judicial proceedings to enforce the rights of the
<br />Trustee, or of the Registered Owners under this Indenture or the Mortgage, the Trustee shall be entitled to
<br />apply for (and the Company may resist) the appointment of a receiver or receivers of the Trust Estate and
<br />the property covered by the Mortgage, as the case may be, and of the revenues, earnings, rents, income,
<br />products and profits thereof, pending such proceedings, with such powers as the court making such
<br />appointment shall confer.
<br />Section 9.06 Waiver By Issuer. Upon the occurrence of an Event of Default, to the extent that
<br />such rights may then lawfully be waived, neither the Issuer, nor anyone claiming through or under it, shall
<br />set up, claim or seek to take advantage of any appraisement, valuation, stay, extension or redemption laws
<br />of any jurisdiction now or hereafter in force, in order to prevent or hinder the enforcement of this
<br />Indenture, and the Issuer, for itself and all who may claim through or under it, hereby waives, to the
<br />extent that it lawfully may do so, the benefit of all such laws.
<br />Section 9.07 Application of Moneys. All moneys received by the Trustee pursuant to any
<br />right given or action taken under the provisions of this Article shall, after payment of the costs and
<br />expenses of the proceedings resulting in the collection of such moneys and of the expenses, liabilities and
<br />advances incurred or made by the Trustee, be deposited in the Bond Fund and all moneys in the Bond
<br />Fund shall be applied as follows:
<br />(a) Unless the principal of all the Bonds shall have become or shall have been
<br />declared due and payable, all such moneys shall be applied:
<br />First, to the payment to the persons entitled thereto of all installments of interest
<br />then due on the Bonds, in the order of the maturity of the installments of such interest
<br />and, if the amount available shall not be sufficient to pay in full any particular
<br />installment, then to the payment ratably, according to the amounts due on such
<br />installment, to the persons entitled thereto, without any discrimination or privilege; and
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