Bondholder Action. Any request, demand, authorization, direction, notice, consent, waiver, or other action provided by this Series 2022A Loan Agreement to be given or taken by the Bondholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Bondholders in person or by an agent duly appointed in writing, and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Bond Trustee and, if hereby expressly required, to the Issuer, the Borrower, the Credit Enhancers, the Liquidity Banks, the Tender Agent, or the Remarketing Agent, as the case may be. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein referred to as the “Act” of the Bondholders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Series 2022A Loan Agreement and conclusive in favor of the Issuer, the Borrower, the Credit Enhancers, the Liquidity Banks, the Tender Agent, and the Remarketing Agent and (subject to Section 9.01 of the Series 2022A Bond Indenture) in favor of the Bond Trustee, if made in the manner provided in this Section. If the Securities Depository is the Bondholder of all of the Series 2022A Bonds, no such Act of the Bondholder of any Series 2022A Bond (except any notice given or action taken in accordance with Section 3.05) shall be effective unless it is the Act of the Person in whose name such Series 2022A Bond is registered as of a record date established by the Bond Trustee for that purpose and unless such Act is concurred in by each Bank Bondholder as of the date of the action authorized thereby.
