Common use of Limitation on Bondholders’ Right to Xxx Clause in Contracts

Limitation on Bondholders’ Right to Xxx. No Holder of any Bond shall have the right to institute any suit, action or proceeding at law or in equity, for the protection or enforcement of any right or remedy under this Trust Agreement, the Act or any other applicable law with respect to such Bond, unless: (1) such Holder shall have given to the Trustee written notice of the occurrence of an Event of Default; (2) the Holders of not less than a majority in aggregate amount of Bond Obligation of the Bonds then Outstanding shall have made written request upon the Trustee to exercise the powers hereinbefore granted or to institute such suit, action or proceeding in its own name; (3) such Holder or said Holders shall have tendered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; and (4) the Trustee shall have refused or omitted to comply with such request for a period of 60 days after such written request shall have been received by, and said tender of indemnity shall have been made to, the Trustee; provided, however, that the written consent of a Credit Provider providing a Credit Enhancement with respect to a Series of Bonds shall be required if the Credit Enhancement with respect to such Series of Bonds is in full force and effect and if the Credit Provider providing such Credit Enhancement is not then failing to make a payment as required in connection therewith. Such notification, request, tender of indemnity and refusal or omission are hereby declared, in every case, to be conditions precedent to the exercise by any Holder of Bonds of any remedy hereunder or under law; it being understood and intended that no one or more Holders of Bonds shall have any right in any manner whatever by his or their action to affect, disturb or prejudice the security of this Trust Agreement or the rights of any other Holders of Bonds, or to enforce any right under this Trust Agreement, the Act or other applicable law with respect to the Bonds, except in the manner herein provided, and that all proceedings at law or in equity to enforce any such right shall be instituted, had and maintained in the manner herein provided and for the benefit and protection of all Holders of the Outstanding Bonds, subject to the provisions of this Trust Agreement.

Limitation on Bondholders’ Right to Xxx. No Notwithstanding any other provision hereof, no Holder of any Bond issued hereunder shall have the right to institute any suit, action or proceeding at law or in equity, for the protection or enforcement of any right or remedy under or upon this Trust AgreementIndenture, the Act or any other applicable law with respect to such Bond, unless: unless (1a) such Holder shall have previously given to the Trustee written notice of the occurrence of an Event of DefaultDefault hereunder; (2b) the Holders of not less than at least a majority in aggregate principal amount of Bond Obligation of all the Bonds then Outstanding shall have made written request upon the Trustee to exercise the powers hereinbefore granted or to institute such suitaction, action suit or proceeding in its own name; (3c) such Holder or said Holders shall have tendered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; and (4d) the Trustee shall have refused or omitted to comply with such request for a period of 60 sixty (60) days after such written request shall have been received by, and said tender of indemnity shall have been made to, the Trustee; provided, however, that the written consent of a Credit Provider providing a Credit Enhancement with respect to a Series of Bonds shall be required if the Credit Enhancement with respect to such Series of Bonds is in full force and effect and if the Credit Provider providing such Credit Enhancement is not then failing to make a payment as required in connection therewith. Such notification, request, tender of indemnity and refusal or omission are hereby declared, in every case, to be conditions precedent to the exercise by any Holder of Bonds of any remedy hereunder or under lawhereunder; it being understood and intended that no one or more Holders of Bonds shall have any right in any manner whatever by his or their action to affect, disturb or prejudice the security of this Trust Agreement or the rights of any other Holders of Bonds, or to enforce any right under this Trust Agreement, the Act or other applicable law with respect to the BondsIndenture, except in the manner herein provided, and that all proceedings at law or in equity to enforce any such right provision of this Indenture shall be instituted, had and maintained in the manner herein provided and for the equal benefit and protection of all Holders of the Outstanding Bonds. The right of any Holder of any Bond to receive payment of the principal of and interest on such Bond out of Payments and the funds pledged herein, subject as herein provided, on and after the respective due dates expressed in such Bond, or to institute suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder, notwithstanding the foregoing provisions of this Trust AgreementSection or Section 7.08 of this Indenture or any other provision of this Indenture.

Limitation on Bondholders’ Right to Xxx. No Holder of any Bond issued hereunder shall have the right to institute any suit, action or proceeding at law or in equity, for the protection or enforcement execution of any right trust or power of this Indenture or for any other remedy under or upon this Trust AgreementIndenture, the Act or any other applicable law with respect to such Bond, unless: unless (1a) such Holder shall have previously given to the Trustee and the Credit Enhancement Provider written notice of the occurrence of an Event of DefaultDefault hereunder; (2b) the Holders of not less than a majority at least twenty-five per cent (25%) in aggregate principal amount of Bond Obligation of the Bonds then Outstanding outstanding shall have made written request upon to the Trustee to exercise the powers hereinbefore granted or to institute such suitaction, action suit or proceeding in its own name; (3c) such Holder or said Holders shall have tendered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; and (4d) the Trustee shall have refused or omitted to comply with such request for a period of 60 thirty (30) days after such written request shall have been received by, and said tender of indemnity shall have been made to, the Trustee; provided, however, that the written consent of a Credit Provider providing a Credit Enhancement with respect to a Series of Bonds shall be required if the Credit Enhancement with respect to such Series of Bonds is in full force and effect and if the Credit Provider providing such Credit Enhancement is not then failing to make a payment as required in connection therewith. Such notification, request, tender of indemnity and refusal or omission are hereby declared, in every case, to be conditions precedent to the exercise by any Holder of Bonds of any remedy hereunder or under lawhereunder; it being understood and intended that no one or more Holders of Bonds shall have any right in any manner whatever by his or their action to affect, disturb or prejudice the security of this Trust Agreement or the rights of any other Holders of Bonds, or to enforce any right under this Trust Agreement, the Act or other applicable law with respect to the BondsIndenture, except in the manner herein provided, and that all proceedings at law or in equity to enforce any such right provision of this Indenture shall be instituted, had and maintained in the manner herein provided and for the equal benefit and protection of all Holders of the Outstanding Bonds, subject to the provisions of this Trust Agreement.

Limitation on Bondholders’ Right to Xxx. No Subject to Section 7.01 hereof, no Holder of any Bond shall have the right to institute any suit, action or proceeding at law or in equity, for the protection or enforcement of any right or remedy under this Trust Indenture, the Agreement, the Guaranty, the Note, any Letter of Credit, the Act or any other applicable law with respect to such Bond, unless: unless (1) such Holder shall have given to the Trustee written notice of the occurrence of an Event of Default; (2) the Holders of not less than a majority fifty percent (50%) in aggregate principal amount of Bond Obligation of the Bonds then Outstanding shall have made written request upon the Trustee to exercise the powers hereinbefore granted or to institute such suit, action or proceeding in its own name; (3) subject to Section 8.03(G) hereof, such Holder or said Holders shall have tendered to the Trustee reasonable indemnity and/or security satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; and (4) the Trustee shall have refused or omitted to comply with such request for a period of 60 sixty (60) days after such written request shall have been received by, and said tender of indemnity and/or security shall have been made to, the Trustee; provided, however, that the written consent of a Credit Provider providing a Credit Enhancement with respect to a Series of Bonds shall be required if the Credit Enhancement with respect to such Series of Bonds is in full force and effect and if the Credit Provider providing such Credit Enhancement is not then failing to make a payment as required in connection therewith. Such notification, request, tender of indemnity and/or security and refusal or omission are hereby declared, in every case, to be conditions precedent to the exercise by any Holder of Bonds of any remedy hereunder or under law; it being understood and intended that no one or more Holders of Bonds shall have any right in any manner whatever by his or their such Holders’ action to affect, disturb or prejudice the security of this Trust Agreement Indenture or the rights of any other Holders of Bonds, or to enforce any right under this Trust Indenture, the Agreement, the Guaranty, the Note, any Letter of Credit, the Act or other applicable law with respect to the Bonds, except in the manner herein provided, and that all proceedings at law or in equity to enforce any such right shall be instituted, had and maintained in the manner herein provided and for the benefit and protection of all Holders of the Outstanding Bonds, subject to the provisions of this Trust AgreementIndenture (including Section 6.02 hereof).

Limitation on Bondholders’ Right to Xxx. No Holder of any Bond shall have the right to institute any suit, action or proceeding at law or in equity, for the protection or enforcement of any right or remedy under this Trust Agreement, the Act or any other applicable law with respect to such Bond, unless: (1) such Holder shall have given to the Trustee written notice of the occurrence of an Event of Default; (2) the Holders of not less than a majority in aggregate amount of Bond Obligation of the Junior Subordinate Bonds then Outstanding shall have made written request upon the Trustee to exercise the powers hereinbefore granted or to institute such suit, action or proceeding in its own name; (3) such Holder or said Holders shall have tendered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; and (4) the Trustee shall have refused or omitted to comply with such request for a period of 60 days after such written request shall have been received by, and said tender of indemnity shall have been made to, the Trustee; provided, however, that the written consent of a Credit Provider providing a Credit Enhancement with respect to a Series of Junior Subordinate Bonds shall be required if the Credit Enhancement with respect to such Series of Junior Subordinate Bonds is in full force and effect and if the Credit Provider providing such Credit Enhancement is not then failing to make a payment as required in connection therewith. Such notification, request, tender of indemnity and refusal or omission are hereby declared, in every case, to be conditions precedent to the exercise by any Holder of Junior Subordinate Bonds of any remedy hereunder or under law; it being understood and intended that no one or more Holders of Junior Subordinate Bonds shall have any right in any manner whatever by his or their action to affect, disturb or prejudice the security of this Trust Agreement or the rights of any other Holders of Junior Subordinate Bonds, or to enforce any right under this Trust Agreement, the Act or other applicable law with respect to the Junior Subordinate Bonds, except in the manner herein provided, and that all proceedings at law or in equity to enforce any such right shall be instituted, had and maintained in the manner herein provided and for the benefit and protection of all Holders of the Outstanding Junior Subordinate Bonds, subject to the provisions of this Trust Agreement.