Common use of SECURITYHOLDERS MAY DIRECT PROCEEDINGS AND WAIVE DEFAULTS Clause in Contracts

SECURITYHOLDERS MAY DIRECT PROCEEDINGS AND WAIVE DEFAULTS. The holders of a majority in principal amount of the Securities of any series at the time outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series, PROVIDED, HOWEVER, that, subject to the provisions of Section 10.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken. Prior to any declaration accelerating the maturity of the Securities of any series, the holders of a majority in aggregate principal amount of such series of Securities at the time outstanding may on behalf of the holders of all of the Securities of such series waive any past default or event of default hereunder and its consequences except a default in the payment of interest or any premium on or the principal of the Securities of such series. Upon any such waiver the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or event of default or impair any right consequent thereon. Whenever any default or event of default hereunder shall have been waived as permitted by this Section 6.06, said default or event of default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

SECURITYHOLDERS MAY DIRECT PROCEEDINGS AND WAIVE DEFAULTS. The holders of a majority in principal amount of the Securities of any series at the time outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series, PROVIDEDprovided, HOWEVERhowever, that, subject to the provisions of Section 10.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken. Prior to any declaration accelerating the maturity of the Securities of any series, the holders of a majority in aggregate principal amount of such series of Securities at the time outstanding may on behalf of the holders of all of the Securities of such series waive any past default or event of default hereunder and its consequences except a default in the payment of interest or any premium on or the principal of the Securities of such series. Upon any such waiver the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or event of default or impair any right consequent thereon. Whenever any default or event of default hereunder shall have been waived as permitted by this Section 6.06, said default or event of default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

SECURITYHOLDERS MAY DIRECT PROCEEDINGS AND WAIVE DEFAULTS. The holders of a majority in principal amount of the Securities of any series at the time outstanding may direct the time, method and place of conducting any proceeding for any remedy available to 44 the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series, PROVIDEDprovided, HOWEVERhowever, that, subject to the provisions of Section 10.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be takentaken or such direction is in conflict with any rule of law or this Indenture or may involve the Trustee in personal liability unless the Trustee has received indemnification satisfactory to it, in its sole determination, against any loss or expense caused by its following such direction, and, provided further, that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. Prior to any declaration accelerating the maturity of the Securities of any series, the holders of a majority in aggregate principal amount of such series of Securities at the time outstanding may on behalf of the holders of all of the Securities of such series waive any past default or event Event of default Default hereunder and its consequences except a default in the payment of interest or any premium on or the principal of the Securities of such series. Upon any such waiver the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or event Event of default Default or impair any right consequent thereon. Whenever any default or event Event of default Default hereunder shall have been waived as permitted by this Section 6.069.05, said default or event Event of default Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

SECURITYHOLDERS MAY DIRECT PROCEEDINGS AND WAIVE DEFAULTS. The holders of a majority in principal amount of the Securities of any series at the time outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series, PROVIDEDprovided, HOWEVERhowever, that, subject to the provisions of Section 10.0212.03, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken. Prior to any declaration accelerating the maturity of the Securities of any series, the holders of a majority in aggregate principal amount of such series of Securities at the time outstanding may on behalf of the holders of all of the Securities of such series waive any past default or event Event of default Default hereunder and its consequences except a default in the payment of interest or any premium on or the principal of the Securities of such series. Upon any such waiver the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or event Event of default Default or impair any right consequent thereon. Whenever any default or event Event of default Default hereunder shall have been waived as permitted by this Section 6.069.05, said default or event Event of default Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.