Agenda - Council - 07/12/2022 - Laserfiche WebLink

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in aggregate principal amount of all Outstanding Bonds and the Issuer and the Company shall have had thirty (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 the Issuer or the Company shall within the applicable period furnish to the Trustee a certificate certifying that such default is such that it can be corrected but not within the applicable period and that corrective action has been instituted by the Issuer or the Company within the applicable period and will be diligently pursued until the default is corrected; provided, however such default under 8.1(c) of this Indenture must be corrected within sixty (60) days of notice thereof. The Issuer or the Company shall notify the Trustee in writing when such default has been corrected. The Trustee shall be entitled to conclusively rely upon any such certificates given pursuant to this Section. 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 at the Company's sole cost and expense, 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. SECTION 8.13. Proofs of Claim. (a) In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Issuer,the Company or any other obligor upon the Bonds or the property of the Issuer,the Trustee (irrespective of whether the principal of the Bonds shall then be due and payable and irrespective of whether the Trustee shall have made any demand on the Issuer and/or the Company for the payment of overdue principal or interest) shall be entitled and empowered,by intervention of such proceeding or otherwise, to file and prove a claim for the whole amount of principal, premium, if any, and interest owing and unpaid in respect of the Bonds then Outstanding and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Bondholders allowed in such judicial proceeding, and to collect and receive any money or other property payable or deliverable on any such claims and to distribute the same; and any receiver, assignee, trustee, liquidator, sequestrator (or other similar official) in any such judicial proceeding is hereby authorized by each Bondholder to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to the Bondholders,to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agent and counsel. (b) So long as Bonds are Outstanding the Trustee is hereby appointed, and the successive respective Bondholders, by taking and holding the same, shall be conclusively deemed to have so appointed the Trustee,the true and lawful attorney in fact of the respective Bondholders, with authority to make or file, in the respective names of the Bondholders or on behalf of all Bondholders, as a class,any proof of debt,amendment to proof of debt,petition or other documents and to execute any other papers and documents and to do and perform any and all acts and things for and on behalf of all Bondholders as a class, as may be necessary or advisable in the opinion of 60 735810810