CLAIMS AND PROCEEDINGS ON THE PART OF THE TRUSTEE. 8.1 The Trustee may, at any time after the Bonds are declared due and payable, at its discretion and without giving another notice, adopt all such proceedings, including legal proceedings, as it finds fit, subject to the provisions of any law, to protect the rights of the Bondholders and implement the provisions of the Trust Deed and it may convene a special meeting of the Bondholders to this end. The Trustee shall be compelled to do so at the demand of the meeting of the Bondholders adopted by a special resolution. Nothing in the foregoing shall prejudice and/or derogate from the Trustee's right to institute legal and/or other proceedings, either on its own initiative or at the demand of the meeting of the Bondholders adopted by a special resolution, even if the Bonds have not been declared immediately due and payable, all with a view to protecting the Bondholders and subject to the provisions of any law.
8.2 The Trustee may, before resorting to such proceedings, convene a general meeting of the Bondholders, to determine, in a special resolution, the type of proceedings to be adopted to exercise their rights under this Deed and the Bonds. The Trustee may further reconvene general meetings of the Bondholders for the purpose of receiving instructions in respect of the conducting of such proceedings. In such cases, the Trustee shall act without delay and on the first practicable and reasonable date.
8.3 Subject to the provisions of this Deed, the Trustee may, but shall not be obligated to, convene a general meeting of the Bondholders at any time, with a view to discussing and/or receiving its instructions on any matter pertaining to this Deed, provided that the convening of the meeting shall be performed by the Trustee in such cases without any delay and on the first practicable and reasonable date.
8.4 The Trustee may, but shall not be obligated to, at its sole discretion, withhold any act on its part under this Deed, for the purpose of an application to the general meeting of the Bondholders and/or the court, until such time as it receives instructions from the general meeting of the Bondholders and/or instructions from the court on how to proceed. The application to the general meeting of the Bondholders and/or to the court will be effected in such cases without delay and on the first practicable and reasonable date.
8.5 Subject to the provisions of subsection 8.6 below, the Trustee shall be obligated to act as set out in subsection 8.1 above, should it b...
CLAIMS AND PROCEEDINGS ON THE PART OF THE TRUSTEE. The Trustee may, at any time after the Bonds are declared due and payable, at its discretion and without giving another notice, adopt all such proceedings, including legal proceedings, as it finds fit, subject to the provisions of any law, to protect the rights of the Bondholders and implement the provisions of the Trust Deed and it may convene a special meeting of the Bondholders to this end. The Trustee shall be compelled to do so at the demand of the meeting of the Bondholders adopted by a special resolution. Nothing in the foregoing shall prejudice and/or derogate from the Trustee’s right to institute legal and/or other proceedings, either on its own initiative or at the demand of the meeting of the Bondholders adopted by a special resolution, even if the Bonds have not been declared immediately due and payable, all with a view to protecting the Bondholders and subject to the provisions of any law.
