Agenda - Economic Development Authority - 05/24/2005

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herei~ provided, and that all proceedings at law or in equity shall be instituted, had and mainmi~ed in the mariner herein provided and for the equal benefit of the Holders of all Bonds outstanding hereunder. Nothing in this Indenture contained shall, however, affect or impair the right o~~ any Bondholder, which is absolute and unconditional, to enforce and bring suit for the payment of the principal of and interest on any Bond at and after the maturity thereofto pay the pri~ncipal of and interest on each of the Bonds issued hereunder to the respective Holders thereof at the time and place in said Bonds expressed, in accordance with the terms of the Bonds. Section 7.09 Waiver .by Bondholders. The Trustee, upon the written request of the l.~[olders of a majority in aggregate principal amount of the Bonds at the time Outstanding hereunder, shall waive any Default hereunder and its consequences, except a Default in the patymcnt of the principal of the Bonds at the date of maturity specified therein; provided, however, that a Default in the payment of interest on the Bonds shall not be waived unless, prior to ~uch waiver, 'all arrears o£interest and all expenses of the Trustee shall have been paid or shall ha,/c been provided for by deposit with the Trustee.ora sum sufficient to pay the same. In case ol' any such waiver, the Issuer, the Trustee and the Holders of the Bonds shall be restored to their ~om~er positions and fights hereunder respectively. No such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. Section 7.10 Remedies Cumul. ative, Del.a¥ Not To Constitute Waiver. No remedy by the te~m.~ o£ this Indenture or the Lease, conferred upon or reserved to the Trustee (or to the Bondholders) is intended to be exclusive of any other remedy, but each and evek-y such remedy shall be cumulative and shall be in addition to any other remedy given hereunder or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any Default or Event Default shall impair any such right or power or shall be construed to be a wai'ver of any such De~;~ult or' Event of Default or acquiescence therein, and every such right and power may be ~:xercised from time to time and as often as may be deemed expedient. No waiver of any DefauIt or Event of Default hereunder, whether by the Trustee or by the [;{mdholders, shall extend to or shall affect any subsequent Default or Event of Default or shall irn'p~fir any rights or remedies consequent thereon. Section 7.11 Restoration of Rights Up'on Discontinuance of Proceedings. In case the Trustee or Bondholders shall have' proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned for any reason, or shatl have been determined adversely to the Trustee or Bondholders, then and in every such case the Issuer, the' City, the Trustee and the Bondholders shall be restored to their former positions and rights hereunder with respect to the Trust Estate, and all rights, remedies and powers of the Trustee and the Bondholders shall continue as if no such proceedings had been taken. Section 7.12 Suits to Protect the Trust E-state and Other prOperty. The Trustee shall have power to imstitute and to maintain such proceedings as it may deem expedient to prevent any impairment of the Trust Estate by any acts which may be unlawful or in violation of this indenture, the Lease or any other Collateral Document, and such suits and proceedings as the Trustee may deem expedient to protect its interests and the interests of the Bondholders in the 109