Common use of Rights of Credit Providers upon an Event of Default Clause in Contracts

Rights of Credit Providers upon an Event of Default. Notwithstanding any other provision of this Article VI, while any Credit Facility is in effect for any series of Bonds and so long as such Credit Provider has not wrongfully dishonored a demand for payment made in strict compliance with the terms of the related Credit Facility for which payment remains unpaid by the Credit Provider, the Trustee and the Issuer may not exercise any remedy described in Section 6.2 hereof without each such Credit Provider’s prior written consent and no Event of Default hereunder shall be waived by the Trustee or the Issuer or the Bondholders to the extent they may otherwise be permitted to waive an Event of Default hereunder, without, in any case, the prior written consent of each such Credit Provider and, if applicable, rescission by each such Credit Provider of any notice of an event of default under the related Credit Agreement. No Event of Default can be waived, in any circumstance, unless the Trustee has received written notice from each applicable Credit Provider that its Credit Facility has been fully reinstated and is in full force and effect. While any Credit Facility is in effect for any series of Bonds and so long as such Credit Provider is not in default with respect to its obligations thereunder, such Credit Provider shall be entitled, but not obligated, to request that the Trustee exercise or to direct the Trustee in the exercise of all rights and remedies upon the occurrence of an Event of Default under the Indenture as provided in Section 8.11

Rights of Credit Providers upon an Event of Default. Notwithstanding any other provision of this Article VI, while any Credit Facility is in effect for any series of Bonds and so long as such Credit Provider has is not wrongfully dishonored a demand for payment made in strict compliance default with the terms of the related Credit Facility for which payment remains unpaid by the Credit Providerrespect to its obligations thereunder, the Trustee and the Issuer may not exercise any remedy described in Section 6.2 hereof without each such Credit Provider’s 's prior written consent and no Event of Default hereunder shall be waived by the Trustee or the Issuer or the Bondholders to the extent they may otherwise be permitted to waive an Event of Default hereunder, without, in any case, the prior written consent of each such Credit Provider and, if applicable, rescission by each such Credit Provider of any notice of an event of default under the related Credit Agreement. No Event of Default can be waived, in any circumstance, unless the Trustee has received written notice from each applicable Credit Provider that its Credit Facility has been fully reinstated and is in full force and effect. While any Credit Facility is in effect for any series of Bonds and so long as such Credit Provider is not in default with respect to its obligations thereunder, such Credit Provider shall be entitled, but not obligated, to request that the Trustee exercise or to direct the Trustee in the exercise of all rights and remedies upon the occurrence of an Event of Default under the Indenture as provided in Section 8.11

Rights of Credit Providers upon an Event of Default. Notwithstanding any other provision of this Article VI, while any Credit Facility is in effect for any series of Bonds and so long as such Credit Provider has is not wrongfully dishonored a demand for payment made in strict compliance default with the terms of the related Credit Facility for which payment remains unpaid by the Credit Providerrespect to its obligations thereunder, the Trustee and the Issuer may not exercise any remedy described in Section 6.2 hereof without each such Credit Provider’s prior written consent and no Event of Default hereunder shall be waived by the Trustee or the Issuer or the Bondholders to the extent they may otherwise be permitted to waive an Event of Default hereunder, without, in any case, the prior written consent of each such Credit Provider and, if applicable, rescission by each such Credit Provider of any notice of an event of default under the related Credit Agreement. No Event of Default can be waived, in any circumstance, unless the Trustee has received written notice from each applicable Credit Provider that its Credit Facility has been fully reinstated and is in full force and effect. While any Credit Facility is in effect for any series of Bonds and so long as such Credit Provider is not in default with respect to its obligations thereunder, such Credit Provider shall be entitled, but not obligated, to request that the Trustee exercise or to direct the Trustee in the exercise of all rights and remedies upon the occurrence of an Event of Default under the Indenture as provided in Section 8.118.11 thereof. 0000-0000-0000.5 If a Credit Facility is in effect for any series of Bonds, and the Credit Provider wrongfully dishonors a demand for payment made in strict compliance with the terms of the related Credit Facility, for so long as such demand for payment remains unpaid by the Credit Provider, fifty-one percent (51%) of the Bondholders of the series of Bonds enhanced by such Credit Facility shall have the right at any time, by an instrument or instruments in writing executed and delivered to the Trustee, to direct the method and place of conducting all proceedings to be taken in connection with the enforcement of the terms and conditions of the Credit Facility or any other proceedings hereunder; provided that such direction shall be in accordance with applicable law.