Agenda - Council - 08/13/2013 - Laserfiche WebLink

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respectively, but no such waiver or rescission shall extend to any subsequent or other Default, or impair any right consequent thereon. Section 9.12 Notice of Defaults under Section 9.01(c); Opportunity of the Issuer and the Company to Cure Such Defaults. Anything herein to the contrary notwithstanding, no Default under Section 9.01(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, the Trustee and the Company by the Trustee or by the Registered Owners of not less than 25% in aggregate principal amount of all Outstanding Bonds 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 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; provided that such Default must be corrected within 60 days of 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 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. (The remainder of this page is intentionally left blank.) 40 5600797v1