Common use of Legal Proceedings by Trustee Clause in Contracts

Legal Proceedings by Trustee. If any Event of Default has occurred and is continuing, the Trustee in its discretion may and, upon the written request of the Bank or the Owners of twenty-five percent (25%) in principal amount of the Bonds then Outstanding (subject to the consent of the Bank, as long as the Bank is not in default of its obligations under the Letter of Credit or a voluntary or involuntary case has not been commenced by the filing of a petition under the United States Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts by or against the Bank) and receipt of indemnity to its satisfaction shall, in its own name: A. By mandamus, other suit, action or proceeding at law or in equity, enforce all rights of the Bondholders, including the right to require the Authority to collect the amounts payable under the Loan Agreement and to require the Authority to carry out any other provisions of this Indenture for the benefit of the Bondholders and to perform its duties under the Act; B. Bring suit upon the Bonds; C. By action or suit in equity require the Authority to account as if it were the trustee of an express trust for the Bondholders; and D. By action or suit in equity enjoin any acts or things that may be unlawful or in violation of the rights of the Bondholders.

Legal Proceedings by Trustee. If any Event of Default has occurred and is continuing, the Trustee in its discretion may and, upon the written request of the Bank or the Owners of twenty-five percent (25%) in aggregate principal amount of the Bonds then Outstanding (subject to the consent of the Bank, as long as if the Bank is not then in default of its obligations under the Letter of Credit or a and no voluntary or involuntary case has not been commenced by or against the filing of a petition Bank under the United States Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts by or against the Bankdebts) and receipt of indemnity to its satisfaction shall, in its own name: A. (a) By mandamus, other suit, action or proceeding at law or in equity, enforce all rights of the Bondholders, including the right to require the Authority to collect the amounts payable under the Loan Agreement and to require the Authority to carry out any other provisions of this Indenture for the benefit of the Bondholders and to perform its duties under the Act; B. (b) Bring suit upon the Bonds; C. (c) By action or suit in equity require the Authority to account as if it were the trustee of an express trust for the Bondholders; andor D. (d) By action or suit in equity enjoin any acts or things that may be unlawful or in violation of the rights of the Bondholders.

Legal Proceedings by Trustee. If any Event of Default has occurred and is continuing, the Trustee in its discretion may and, upon the written request of the Bank or the Owners of twenty-five percent (25%) % in principal amount of the Bonds then Outstanding (subject to the consent of the Bank, as long as the Letter of Credit Bank is not in default of its obligations under the Letter of Credit or a voluntary or involuntary case has not been commenced by the filing of a petition under the United States Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts by or against the Letter of Credit Bank) and receipt of indemnity to its satisfaction shall, in its own name: A. By (A) by mandamus, other suit, action or proceeding at law or in equity, enforce all rights of the Bondholders, including the right to require the Authority Board to collect the amounts payable under the Loan Agreement and to require the Authority Board to carry out any other provisions of this Indenture for the benefit of the Bondholders and to perform its duties under the Act; B. Bring (B) bring suit upon the Bonds; C. By (C) by action or suit in equity require the Authority Board to account as if it were the trustee of an express trust for the Bondholders; and D. By (D) by action or suit in equity enjoin any acts or things that may be unlawful or in violation of the rights of the Bondholders.

Legal Proceedings by Trustee. If any Event of Default has occurred and is continuing, the Trustee in its discretion may and, upon the written request of the Bank or the Owners of twenty-five percent (25%) % in principal amount of the Bonds then Outstanding (subject to the consent of the Bank, as long as the Bank is not in default of its obligations under the Letter of Credit or a voluntary or involuntary case has not been commenced by the filing of a petition under the United States Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts by or against the Bank) and receipt of indemnity to its satisfaction shall, in its own name:. A. By mandamus, other suitSuit, action or proceeding at law or in equity, enforce all rights of the Bondholders, including the right to require the Authority to collect the amounts payable under the Loan Agreement and to require the Authority Company to carry out any other provisions of this Indenture for the benefit of the Bondholders and to perform its duties under the Act; B. Bring suit upon the Bonds; C. By action or suit in equity require the Authority Company to account as if it were the trustee of an express trust for the Bondholders; and D. By action or suit in equity enjoin any acts or things that may be unlawful or in violation of the rights of the Bondholders.

Legal Proceedings by Trustee. If any Event of Default has occurred and is continuing, the Trustee in its discretion may and, upon the written request of the Bank or the Owners of twenty-five percent (25%) % in principal amount of the Bonds then Outstanding (subject to the consent of the Bank, as long as the Bank is not in default of its obligations under the Letter of Credit or a voluntary or involuntary case has not been commenced by the filing of a petition under the United States Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up or composition or adjustment of debts by or against the Bank) and receipt of indemnity to its satisfaction shall, in its own name: A. By (A) by mandamus, other suit, action or proceeding at law or in equity, enforce all rights of the Bondholders, including the right to require the Authority to collect the amounts payable under the Loan Agreement and to require the Authority to carry out any other provisions of this Indenture for the benefit of the Bondholders and to perform its duties under the Act; B. Bring (B) bring suit upon the Bonds; C. By (C) by action or suit in equity require the Authority to account as if it were the trustee of an express trust for the Bondholders; and D. By (D) by action or suit in equity enjoin any acts or things that may be unlawful or in violation of the rights of the Bondholders.