Common use of Waivers of Events of Default Clause in Contracts

Waivers of Events of Default. The Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only upon the written request of the Owners of at least 50% in aggregate principal amount of all the Bonds then-Outstanding, provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before such waiver or rescission, all arrears of interest, or all arrears of payments of principal when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, have been paid or provided for. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has been discontinued or abandoned or determined adversely, then and in every such case the City, the Developer, the Trustee and the Owners shall be restored to their former positions, rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been taken.

Waivers of Events of Default. The Trustee Trustee, with the prior written consent of the Bank, shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, interest on the Bonds, but only Bonds upon the written request of the Owners holders of at least 50% in a majority of the aggregate principal amount of all the Bonds then-then Outstanding, ; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1A) any Event of Default default in the payment of the principal of any Outstanding Bonds when due (whether Bond at the date of maturity or redemption specified therein), or upon proceedings for mandatory redemption, (2B) any Event of Default requiring a draw under the Letter of Credit unless the Trustee shall have received written notice from the Bank that the Letter of Credit has been reinstated to its full stated amount, if there has been a reduction thereon, or (C) any default in the payment when due of the interest or premium on any such Bonds, unless before prior to such waiver or rescission, rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal when due, due (whether at the stated maturity thereof or upon proceedings for redemption) as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, shall have been paid or provided for, and no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto. In The Trustee shall not grant any waiver or rescission hereunder unless all ordinary and extraordinary fees and expenses of the Trustee, including, but not limited to, reasonable attorneys' fees, incurred in connection with said default have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then then, and in every such case the Citycase, the DeveloperIssuer, the Trustee Trustee, the Bank and the Owners Bondholders, respectively, shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been taken.

Waivers of Events of Default. The Trustee shall may waive any Event of Default hereunder that has been remedied and any Event of Default (and its consequences consequences) relating to a default in the performance or observance of any covenant, agreement or condition contained in the Indenture, or a breach of a representation or warranty made by the Issuer in the Indenture or in any certificate or report furnished under the Indenture, or the occurrence of any "event of default" under the contracts and rescind related documents governing the transfer and servicing of the Loans and other matters relating to the issuance of the Notes. The Trustee may waive any declaration other Event of maturity of principal of Default that has occurred and interest, if any, on the Bonds, but is continuing only upon the written request of the Owners of at least 50% in aggregate principal amount of all the Bonds then-Outstanding, Required Noteholders; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1x) any Event of Default in the payment of the principal of any Outstanding Bonds outstanding Notes when due (whether at the date of maturity or redemption specified therein), or (2y) any Event of Default default in the payment when due of the interest on any such BondsNotes unless, unless before prior to such waiver or rescission, all arrears of interest, interest or all arrears of payments of principal when due, as with interest on overdue principal and, to the case may beextent permitted by applicable law, interest at the Default Rate, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, Event of Default shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Noteholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereon thereon. Any waivers made by the Trustee pursuant to this Section shall be in writing and all rights, remedies shall specify the nature of the Event of Default and powers the effective date of the waiver and the Trustee shall continue as if no send a copy of all such proceedings had been takenwaivers to the Noteholders and the Rating Agency.

Waivers of Events of Default. The Trustee shall may in its discretion waive any Event event of Default default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, interest on the BondsExpenditure Agreement, but only and shall do so upon the written request of the Owners holders of at least 50% in aggregate principal amount of (1) all the Bonds then-OutstandingExpenditure Agreement then outstanding in respect of which default in the payment of principal or interest exists, or (2) all Expenditure Agreement then outstanding in the case of any other default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) all Expenditure Agreement Owners (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any Event event of Default default in the payment of the principal of any Outstanding Bonds when due (whether outstanding Expenditure Agreement at the date of maturity or redemption specified therein), or (2b) any Event of Default default in the payment when due of the interest on any such Bonds, Expenditure Agreement unless before prior to such waiver or rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Expenditure Agreement in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, default (including extraordinary services) shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Expenditure Agreement Owners shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers thereon. (End of the Trustee shall continue as if no such proceedings had been taken.Article VII)

Waivers of Events of Default. The So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interestof, premium, if any, and interest on the BondsBonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, but the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds only upon the written request of the Owners Holders of at least 50100% in aggregate principal amount of all the Bonds then-Outstanding, then Outstanding with respect to which there is a default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether other than Purchased Bonds) at the date of maturity or redemption specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), or (2b) any Event of Default default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless before prior to such waiver or rescission, rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due, due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, default shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperTrustee, the Trustee Credit Facility Provider and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereto.

Waivers of Events of Default. The Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of principal, and interest, if any, on the Bonds, but only shall do so upon the written request of the Owners holders of at least (a) not less than two-thirds in aggregate principal amount of Bonds then Outstanding in respect of which default in the payment of principal and/or interest exists, or (b) more than 50% in aggregate principal amount of all Bonds then Outstanding in the Bonds then-Outstanding, case of any other default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding rescinded (1) any Event of Default in the payment of the principal of any Bonds then Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default default in the payment when due of the interest on any such Bonds, unless before unless, prior to such waiver or rescission, all arrears of interest, or with interest (to the extent permitted by law) at the rate per annum borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest, all arrears of payments of principal principal, with interest (to the extent permitted by law) at the rate per annum borne by the Bonds, when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, default shall have been paid or provided for. In , and in case of any such waiver or rescission, or in the case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereon. The provisions of this Section 8.12 are subject to the condition that any waiver of any "Default" under the First Mortgage Bonds Indenture and all rights, remedies a rescission and powers annulment of its consequences shall constitute a waiver of the Trustee shall continue as if corresponding Event or Events of Default under Section 8.01(c) hereof and a rescission and annulment of the consequences thereof, but no such proceedings had been takenwaiver, rescission and annulment shall extend to or affect any subsequent Event of Default or impair any right or remedy consequent thereon.

Waivers of Events of Default. The Subject to prior written notice to and prior written consent of the City, the Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, interest on the Bonds, but only and shall do so upon the written request of the Owners owners of at least 50% the sum of a majority in aggregate principal amount of all the Bonds then-Outstanding, then Outstanding in respect of which default exists; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1i) any Event of Default in the payment of the principal of or premium on any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein)thereof, or (2) any Event of Default default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or rescission, all arrears of interest, interest or all arrears of payments of principal when dueand premium, as if any (with interest upon such principal and premium, if any, at a rate which shall be 1 percent per annum above the case may behighest rate of interest borne by any Bond during the 365 days prior to the date on which such principal and premium, if any, were due or the maximum rate permitted by law if less than such rate aforesaid) and all expenses of the Trustee, and all reasonable expenses of the Trustee and amounts to be paid to the City (including reasonable attorneys’ fees hereunder and expenses)under the Loan Agreement, in connection with such default, default shall have been paid or provided forfor or (ii) any default in the payment of amounts set forth in Section 5.1(d) of the Loan Agreement. In case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adverselyadversely to the Trustee, then and in every such case the City, the DeveloperTrustee, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to or affect any subsequent or other default, or impair any right rights or remedies consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only upon the written request of the Owners of at least 50% a majority in aggregate principal amount of all the Bonds then-then Outstanding, provided, however, ; provided that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the written consent of the Owners of all the Bonds Outstanding (1a) any Event of Default in the payment of the principal of any Outstanding Bonds when due at their maturity, upon the redemption (whether at including as a result of acceleration) or tender thereof, (b) any Event of Default under Section 801(e) or (g) hereof (but, with respect to paragraph (g), only with respect to a default under Section 801(e) of the date of maturity or redemption specified therein)Series 0000X Xxxxxxxxx) unless the Credit Enhancer shall have given written notice to the Trustee that the Credit Facility has been reinstated in full, or (2c) any Event of Default in the payment when due of the interest on any such BondsBonds unless, unless before prior to such waiver or rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds on overdue installments of interest in respect of which such default shall have occurred, or all arrears of payments of principal when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, Event of Default shall have been paid or provided for; provided further that there shall not be waived without the written consent of the Credit Enhancer any Event of Default under Section 801(e)(ii) or (g) hereof (but, with respect to paragraph (g), only with respect to a default under Section 801(e)(ii) of the Series 0000X Xxxxxxxxx); and provided further that no Event of Default shall be waived without the written consent of the Credit Enhancer if it has honored all its obligations under the Credit Facility. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperBorrower, the Trustee Trustee, the Bondowners and the Owners Credit Enhancer shall be restored to their former positions, rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Trustee shall waive any Event holders of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only upon the written request of the Owners of at least 50% a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 9.04 of the Indenture, shall have the right (subject to the next sentence below) to direct, in accordance with Section 9.01 of the Indenture, a waiver, on behalf of the holders of all of the Bonds then-OutstandingNotes, providedof any past default or Event of Default and its consequences, howeverprovided that such direction to waive is given at a meeting of the Noteholders, in accordance with Article 10 of the Indenture, and that (a) there shall such waiver be approved by the vote of holders of at least a majority of the aggregate principal amount of the Notes at the time outstanding, determined in accordance with Section 9.04, who also hold at least 75% of the principal amount of the Notes present or represented in that Noteholders meeting. Notwithstanding the preceding sentence, the following defaults may not be waived without the consent of the City an Event holders of Default hereunder arising from an Event each or all Notes then outstanding or affected thereby: (i) a default in the payment of Default under Section 12.1(a) (but only as it relates to Additional Rent)interest on, or the principal of, the Notes, (bii) (but only as it relates a failure by the Issuer to Unassigned Rights)convert any Notes into Ordinary Shares, (ciii) a default in the payment of the redemption premium pursuant to Section 3.03 of the Indenture, or (div) a default in respect of a covenant or provisions of the Lease, and (b) there shall Indenture which under the provisions of the Trust Indenture Act cannot be waived modified or amended without the consent of the Owners holders of each or all Notes then outstanding or affected thereby. Upon any such waiver, the Bonds Outstanding (1) any Event of Default in Issuer, the payment Trustees and the holders of the principal of any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before such waiver or rescission, all arrears of interest, or all arrears of payments of principal when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, have been paid or provided for. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has been discontinued or abandoned or determined adversely, then and in every such case the City, the Developer, the Trustee and the Owners Notes shall be restored to their former positions, positions and rights and obligations hereunder, respectively, under the Indenture; but no such waiver or rescission shall extend to any subsequent or other default, default or Event of Default or impair any right consequent thereon and all rights, remedies and powers thereon. Whenever any default or Event of Default under the Indenture shall have been waived as permitted by Section 6.07 of the Trustee Indenture, said default or Event of Default shall continue as if for all purposes of the Notes and the Indenture be deemed to have been cured and to be not continuing; but no such proceedings had been takenwaiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

Waivers of Events of Default. The So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interestof, premium, if any, and interest on the BondsBonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, but only the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds upon the written request of the Owners Holders of at least 50100% in aggregate principal amount of all the Bonds then-Outstanding, then Outstanding with respect to which there is a default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether other than Purchased Bonds) at the date of maturity or redemption specified therein, or upon proceedings for mandatory redemption of any Bonds (other than Purchased Bonds), or (2b) any Event of Default default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless before prior to such waiver or rescission, rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due, due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, default shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperTrustee, the Trustee Credit Facility Provider and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereto.

Waivers of Events of Default. The Subject to the next paragraph and to the last two paragraphs of Section 9.03, which shall apply at all times with respect to any Bonds then secured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default hereunder and rescind its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only shall do so upon the written request of the Owners of at least 50% not less than a majority in aggregate principal amount of all Bonds then Outstanding (but only with the Bonds then-Outstanding, consent of the Bond Insurer); provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of of, or premium on, any Outstanding Bonds when due (whether at the date of maturity or redemption specified thereinby redemption), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or and rescission, all arrears of interestprincipal of and interest upon such Bonds, or and interest on overdue principal at the rate borne by the Bonds on the date on which such principal became due and payable, and all arrears of payments of principal premium, if any, when due, as together with the case may be, and all reasonable expenses of the Trustee and of the City (Owners of such Bonds, including reasonable attorneys’ fees and expenses)paid or incurred, in connection with such default, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Borrower, the Remarketing Agent and the Auction Agent. The provisions of Sections 9.01 and 9.02 hereof are subject to the conditions that if, after the principal of all Bonds then Outstanding shall have been declared to be due and payable, all arrears of principal of and interest upon such Bonds, and the premium, if any, on all Bonds then Outstanding which shall have become due and payable otherwise than by acceleration, and all rightsother sums payable under this Indenture, remedies except the principal of, and powers interest on, the Bonds which by such declaration shall have become due and payable, shall have been 66 paid by or on behalf of the Issuer, together with the reasonable expenses of the Trustee shall continue as and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, and if no other defaults shall have occurred and be continuing, and, to the extent that a Letter of Credit is then in effect with respect to any Bonds, the amount available for interest draws under such proceedings had Letter of Credit shall have been takenreinstated by the Bank in writing, then and in every such case, the Trustee shall, with the consent of the Bank or the Bond Insurer, as applicable pursuant to Section 9.03, annul such declaration of maturity and its consequences, which waiver and annulment shall be binding upon all Bondholders; but no such waiver, rescission and annulment shall extend to or affect any subsequent default or impair any right or remedy consequent thereon. In the case of any such annulment, the Borrower, the Issuer, the Trustee and the Bondholders shall be restored to their former positions and rights under this Indenture. All waivers and annulments under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Bond Insurer, the Bank, the Borrower, the Remarketing Agent and the Auction Agent, as applicable.

Waivers of Events of Default. The Trustee shall waive any Event holders of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only upon the written request of the Owners of at least 50% a majority in aggregate principal amount of the Notes at the time outstanding determined in accordance with Section 9.04 of the Indenture, shall have the right (subject to the next sentence below) to direct, in accordance with Section 9.01 of the Indenture, a waiver, on behalf of the holders of all of the Bonds then-OutstandingNotes, providedof any past default or Event of Default and its consequences, howeverprovided that such direction to waive is given at a meeting of the Noteholders, in accordance with Article 10 of the Indenture, and that (a) there shall such waiver be approved by the vote of holders of at least a majority of the aggregate principal amount of the Notes at the time outstanding, determined in accordance with Section 9.04, who also hold at least 75% of the principal amount of the Notes present or represented in that Noteholders meeting. Notwithstanding the preceding sentence, the following defaults may not be waived without the consent of the City an Event holders of Default hereunder arising from an Event each or all Notes then outstanding or affected thereby: (i) a default in the payment of Default under Section 12.1(a) (but only as it relates to Additional Rent)interest on, or the principal of, the Notes, (bii) (but only as it relates a failure by the Issuer to Unassigned Rights)convert any Notes into Ordinary Shares, (c) or (diii) a default in respect of a covenant or provisions of the Lease, and (b) there shall Indenture which under the provisions of the Trust Indenture Act cannot be waived modified or amended without the consent of the Owners holders of each or all Notes then outstanding or affected thereby. Upon any such waiver, the Bonds Outstanding (1) any Event of Default in Issuer, the payment Trustees and the holders of the principal of any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before such waiver or rescission, all arrears of interest, or all arrears of payments of principal when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, have been paid or provided for. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has been discontinued or abandoned or determined adversely, then and in every such case the City, the Developer, the Trustee and the Owners Notes shall be restored to their former positions, positions and rights and obligations hereunder, respectively, under the Indenture; but no such waiver or rescission shall extend to any subsequent or other default, default or Event of Default or impair any right consequent thereon and all rights, remedies and powers thereon. Whenever any default or Event of Default under the Indenture shall have been waived as permitted by Section 6.07 of the Trustee Indenture, said default or Event of Default shall continue as if for all purposes of the Notes and the Indenture be deemed to have been cured and to be not continuing; but no such proceedings had been takenwaiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.

Waivers of Events of Default. The So long as no Event of Default has occurred and is then continuing under Section 6.01(b) hereof, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interestof, premium, if any, and interest on the BondsBonds only upon the written direction of the Credit Facility Provider. If there shall have occurred and is then continuing an Event of Default under Section 6.01(b) hereof, but only the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of, premium, if any, and interest on the Bonds upon the written request of the Owners Holders of at least 50100% in aggregate principal amount of all the Bonds then-Outstanding, then Outstanding with respect to which there is a default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether other than Purchased Bonds) at the date of maturity or redemption specified therein, or upon proceedings for mandatory redemption or in the Purchase Price of any Bonds (other than Purchased Bonds), or (2b) any Event of Default default in the payment when due of the interest or premium on any such Bonds (other than Purchased Bonds), unless before prior to such waiver or rescission, rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due, due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, default shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperTrustee, the Trustee Credit Facility Provider and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereto.

Waivers of Events of Default. The Trustee shall Except as hereinafter provided, at any time, in its discretion, the Trustee, but only with the express written consent of the Bank, other than in the case of an Event of Default described in Section 7.01 (a), (b), (c), (g) or (h) hereof, may waive any Event of Default hereunder and its consequences and may rescind and annul any declaration of maturity of principal of and interest, if any, on the Bonds, but only . The Trustee shall do so upon the written request of the Owners Bank (other than in the case of at least 50% in aggregate principal amount of all the Bonds then-Outstanding, provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under described in Section 12.1(a) 7.01 (but only as it relates to Additional Renta), (b) (but only as it relates to Unassigned Rights), (c), (g) or (dh) of hereof). Notwithstanding the Leaseforegoing, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) prior to waiving any Event of Default described in Section 7.01(f) or (i) hereof, the payment Trustee shall have received written confirmation from the Bank that the Letter of Credit has been reinstated to an amount not less than 100% of the outstanding principal of any Outstanding of, plus 45 days interest (or 195 days interest if the Interest Rate Mode on the Project Bonds when due (whether is six months or longer) on, the Project Bonds computed at the date of maturity or redemption specified therein)Maximum Rate. There shall not be so waived, or (2) however, any Event of Default described in paragraphs (a), (b), (c), (g) or (h) of Section 7.01 hereof or any declaration of acceleration in connection therewith rescinded or annulled except with the payment when due written consent of the interest on any such Bonds, unless before such Holders of all Bonds then outstanding and of the Bank. In the case of the waiver or rescission, all arrears of interest, or all arrears of payments of principal when due, as the case may be, rescission and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, have been paid or provided for. In case of any such waiver or rescissionannulment, or in case any proceeding suit, action or proceedings taken by the Trustee on account of any such default has Event of Default shall have been discontinued or discontinued, abandoned or determined adversely, then and in every such case adversely to it; the CityIssuer, the DeveloperTrustee, the Trustee Bank and the Owners Holders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such . No waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been taken.thereon. END OF ARTICLE VII 77

Waivers of Events of Default. The Subject to prior written notice to and prior written consent of the Issuer, the Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, interest on the Bonds, but only and shall do so upon the written request of the Owners owners of at least 50% the sum of a majority in aggregate principal amount of all the Bonds then-Outstanding, then Outstanding in respect of which default exists; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1i) any Event of Default in the payment of the principal of or premium on any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein)thereof, or (2) any Event of Default default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or rescission, all arrears of interest, interest or all arrears of payments of principal when dueand premium, as if any (with interest upon such principal and premium, if any, at a rate which shall be 1 percent per annum above the case may behighest rate of interest borne by any Bond during the 365 days prior to the date on which such principal and premium, if any, were due or the maximum rate permitted by law if less than such rate aforesaid) and all expenses of the Trustee, and all reasonable expenses of amounts to be paid to the Trustee Issuer hereunder and under the City (including reasonable attorneys’ fees and expenses)Loan Agreement, in connection with such default, default shall have been paid or provided forfor or (ii) any default in the payment of amounts set forth in Section 5.1(d) of the Loan Agreement. In case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adverselyadversely to the Trustee, then and in every such case the CityIssuer, the DeveloperTrustee, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to or affect any subsequent or other default, or impair any right rights or remedies consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Trustee shall waive any Trustee, but only with the express written consent of the Bank (other than in the case of an Event of Default hereunder described in items (a), (b), (c), (g) or (h) above), may waive an Event of Default and its consequences and may rescind and annul any declaration of maturity of principal and interest of and interest, if any, on the Bonds, but only . The Trustee shall do so upon the written request of the Owners Bank (other than in the case of an Event of Default described in items (a), (b), (c), (g) or (h) above). Notwithstanding the foregoing, prior to waiving any Event of Default described in item (f) or (i) above, the Trustee shall have received written confirmation from the Bank that (i) the Bank has annulled the declaration of maturity of principal of the Bonds and (ii) that the Letter of Credit has been reinstated to an amount not less than 100% of the outstanding principal of, plus 56 days' interest (or 195 days' interest if the Interest Rate Mode on the Bonds is six months or longer) on, the Bonds at least 50the maximum rate of 12% per annum. There shall not be so waived, however, any Event of Default described in items (a), (b), (c), (g) or (h) above or any declaration of acceleration in connection therewith rescinded or annulled except (i) if such Event of Default shall have been cured and (ii) with the written consent of the Holders of a majority in aggregate principal amount of all the Bonds then-Outstanding, provided, however, that (a) there shall not be waived without the consent then outstanding and of the City an Event Bank. In the case of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before such waiver or rescission, all arrears of interest, or all arrears of payments of principal when due, as the case may be, rescission and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, have been paid or provided for. In case of any such waiver or rescissionannulment, or in case any proceeding suit, action or proceedings taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned discontinued, abandoned, or determined adversely, then and in every such case the Cityadversely to it, the DeveloperIssuer, the Trustee Trustee, the Bank and the Owners Holders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such under the Indenture. No waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of principal, and interest, if any, on the Bonds, but only shall do so upon the written request of the Owners holders of at least (a) not less than two-thirds in aggregate principal amount of Bonds then Outstanding in respect of which default in the payment of principal and/or interest exists, or (b) more than 50% in aggregate principal amount of all Bonds then Outstanding in the Bonds then-Outstanding, case of any other default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding rescinded (1) any Event of Default in the payment of the principal of any Bonds then Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default default in the payment when due of the interest on any such Bonds, unless before unless, prior to such waiver or rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate per annum borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal principal, with interest (to the extent permitted by law) at the rate per annum borne by the Bonds, when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, default shall have been paid or provided for. In , and in case of any such waiver or rescission, or in the case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereon. The provisions of this Section 8.12 are subject to the condition that any waiver of any "Default" under the First Mortgage Bonds Indenture and a rescission and annulment of its consequences shall constitute a waiver of the corresponding Event or Events of Default under Section 8.01(d) hereof and a rescission and annulment of the consequences thereof, but no such waiver, rescission and annulment shall extend to or affect any subsequent Event of Default or impair any right or remedy consequent thereon. Notice of Default under Section 8.01(c); Opportunity of Issuer and the Company to Cure Such Default. Anything herein to the contrary notwithstanding, no default under Section 8.01(c) hereof shall constitute an Event of Default until actual notice of such default by registered or certified mail shall be given to the Issuer and the Company by the Trustee or by the holder or holders of not less than 25% in aggregate principal amount of all Bonds Outstanding (with a copy to the Trustee) and the Issuer and the Company shall have had sixty days after receipt of such notice to correct said default or cause said default to be corrected within the applicable period; provided, however, if said default is such that it cannot be corrected within the applicable period, it shall not constitute an Event of Default if corrective action is instituted by the Issuer or the Company within the applicable period and diligently pursued until the default is corrected. With regard to any alleged default concerning which notice is given to the Issuer and the Company under the provisions of this Section 8.13, the Issuer hereby grants the Company full authority for the account of the Issuer to perform any covenant or obligation alleged in said notice to constitute a default, in the name and stead of the Issuer with full power to do any and all rightsthings and acts to the same extent that the Issuer could do and perform any such things and acts and with power of substitution. In the event that the Trustee fails to receive any amount when due under the Notes and the Agreement, remedies and powers of the Trustee shall continue as if no immediately give written notice to the Company and the Issuer specifying such proceedings had been taken.failure. THE TRUSTEE

Waivers of Events of Default. The At the direction of the Requisite Bondholders, the Trustee shall may in its discretion waive any Event event of Default default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, interest on the Bonds, but only and shall do so upon the written request of the Owners Bondholders of at least 50% in aggregate principal amount of (1) all the Bonds then-Outstandingthen outstanding in respect of which default in the payment of principal and/or premium, if any, and/or interest exists, or (2) all Bonds then outstanding in the case of any other default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any Event event of Default default in the payment of the principal of any Outstanding outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2b) any Event of Default default in the payment when due of the interest on any such Bonds, Bonds unless before prior to such waiver or rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal and premium, if any, when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, default shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereon. The provisions of this Section 7.9 are expressly subject to and all rights, remedies and powers limited by the last sentence of the Trustee shall continue as if no such proceedings had been taken.Section 7.1 hereof. (End of Article VII)

Waivers of Events of Default. The Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only and shall do so upon the written request of the Owners of at least 50% in aggregate principal amount of all the Bonds then-then Outstanding, provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2b) any Event of Default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or rescission, all arrears of interest, or all arrears of payments of principal when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses)City, in connection with such default, shall have been paid or provided for. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperCorporation, the Trustee and the Owners Bondowners shall be restored to their former positions, rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Subject to the next paragraph and to the last two paragraphs of Section 9.03, which shall apply at all times while the Bonds are secured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default hereunder and rescind its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only shall do so upon the written request of the Owners of at least 50% not less than a majority in aggregate principal amount of all the Bonds then-then Outstanding, ; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of of, or premium on, any Outstanding Bonds when due (whether at the date of maturity or redemption specified thereinby redemption), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or and rescission, all arrears of interestprincipal of and interest upon such Bonds, or and interest on overdue principal at the rate borne by the Bonds on the date on which such principal became due and payable, and all arrears of payments of principal premium, if any, when due, as together with the case may be, and all reasonable expenses of the Trustee and of the City (Owners of such Bonds, including reasonable attorneys’ fees and expenses)paid or incurred, in connection with such default, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made; provided further that no waiver of an Event of Default set forth in Section 9.02 and Section 9.03 may become effective unless the Trustee has received written notice from the Bank that the Letter of Credit has been fully reinstated and is in full force and effect and that the notice from the Bank declaring an event of default under the Reimbursement Agreement has been rescinded by the Bank. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Borrower, the Remarketing Agent and the Auction Agent. The provisions of Sections 9.01 and 9.02 hereof are subject to the conditions that if, after the principal of all Bonds then Outstanding shall have been declared to be due and payable, all arrears of principal of and interest upon such Bonds, and the premium, if any, on all Bonds then Outstanding which shall have become due and payable otherwise than by acceleration, and all rightsother sums payable under this Indenture, remedies except the principal of, and powers interest on, the Bonds which by such declaration shall have become due and payable, shall have been paid by or on behalf of the Issuer, together with the reasonable expenses of the Trustee shall continue as and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, and if no other defaults shall have occurred and be continuing, and, to the extent that a Letter of Credit is then in effect, the amount available for interest draws under such proceedings had Letter of Credit shall have been takenreinstated by the Bank in writing, then and in every such case, the Trustee shall, with the consent of the Bank or the Bond Insurer, as applicable (except in the event of a Bank Default or an Insurer Default), annul such declaration of maturity and its consequences, which waiver and annulment shall be binding upon all Holders of Bonds; but no such waiver, rescission and annulment shall extend to or affect any subsequent default or impair any right or remedy consequent thereon. In the case of any such annulment, the Borrower, the Issuer, the Trustee and the Holders of the Bonds shall be restored to their former positions and rights under this Indenture. All waivers and annulments under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Bond Insurer, the Bank, the Borrower, the Remarketing Agent and the Auction Agent, as applicable.

Waivers of Events of Default. The Trustee shall may, with the consent of the Credit Obligor, waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only shall do so upon the written request of the Owners Credit Obligor or (if no Letter of at least 50% Credit is in aggregate effect and less than all of the Bonds constitute Pledged Bonds) the Holders of a majority in principal amount of all the Bonds then-Outstanding, outstanding Bonds; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default in pertaining to the payment when due of the principal of any Bonds at the date of maturity specified therein or of the purchase price of any Bond or of the interest or premium (if any) on any such Bonds, unless before prior to such waiver or rescission, all arrears of interest on such Bonds, with interest (to the extent permitted by law) at the rate borne by such Bonds on overdue installments of interest, or and all arrears of payments of principal when due, as or purchase price of such Bonds with interest at the case may berate borne by such Bonds on overdue principal, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such defaultdefault then due, shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the CityBoard, the DeveloperCredit Obligor, the Trustee and the Owners Bondholders shall be restored to their former positionspositions and rights hereunder respectively (subject, rights and obligations hereunderhowever, respectivelyto such determination), but no such waiver or rescission shall extend to any subsequent or other defaultEvent of Default, or impair any right consequent thereon thereon; and all rightsprovided further that no waiver of an Event of Default under subsection (e) of Section 10.1 hereof shall be effective unless the Trustee receives written notice from the Credit Obligor that the Letter of Credit has been reinstated. The provisions of this Section 10.5 are subject to the condition that with respect to an Event of Default under subsection (e) of Section 10.1 hereof, remedies receipt by the Trustee of written notice from the Credit Obligor of the waiver of any Event of Default under the Credit Agreement, rescission and powers annulment of the consequences and reinstatement (or verification of reinstatement) of the Letter of Credit shall constitute a waiver of the corresponding Event of Default under the Indenture and a rescission and annulment of the consequences thereof. If notice of such Event of Default under the Credit Agreement shall have been given as provided herein and if the Trustee shall continue thereafter have received notice that such Event of Default shall have been waived, the Trustee shall promptly give notice by first class mail, postage prepaid, of such waiver, rescission or annulment to the Board, the Company, and the Credit Obligor, and shall give notice thereof by first class mail, postage prepaid, to all registered Holders of the Bonds at their addresses as if they appear in the registration books kept by the Trustee. No such waiver, rescission and annulment shall extend to or affect any subsequent Event of Default or impair any right or remedy consequent thereon; and provided further that no such proceedings had been taken.waiver of an Event

Waivers of Events of Default. The Trustee shall may in its discretion waive any Event event of Default default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, interest on the Bonds, but only and shall do so upon the written request of the Owners holders of at least 50% in aggregate principal amount of (1) all the Bonds then-Outstandingthen outstanding in respect of which default in the payment of principal or interest exists, or (2) all Bonds then outstanding in the case of any other default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) all Bondholders (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any Event event of Default default in the payment of the principal of any Outstanding outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2b) any Event of Default default in the payment when due of the interest on any such Bonds, Bonds unless before prior to such waiver or rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, default (including extraordinary services) shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the Developer, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers thereon. (End of the Trustee shall continue as if no such proceedings had been taken.Article VII)

Waivers of Events of Default. The Trustee shall Except as hereinafter provided, at any time, in its discretion, the Trustee, but only with the express written consent of the Bank, other than in the case of an Event of Default described in Section 7.01(a), (b), (c), (g) or (h) hereof, may waive any Event of Default hereunder and its consequences and may rescind and annul any declaration of maturity of principal of and interest, if any, on the Bonds, but only . The Trustee shall do so upon the written request of the Owners Bank (other than in the case of an Event of Default described in Section 7.01 (a), (b), (c), (g) or (h) hereof). Notwithstanding the foregoing, prior to waiving any Event of Default described in Section 7.01(f) or (i) hereof, the Trustee shall have received written confirmation from the Bank that (i) the Bank has annulled the declaration of maturity of principal of the Bonds and (ii) the Letter of Credit has been reinstated to an amount not less than 100% of the outstanding principal of, plus 56 days interest (or 195 days interest if the Interest Rate Mode on the Refunding Bonds is six months or longer) on, the Refunding Bonds computed at least 50% the Maximum Rate. . There shall not be so waived, however, any Event of Default described in paragraphs (a), (b), (c), (g) or (h) of Section 7.01 hereof or any declaration of acceleration in connection therewith rescinded or annulled except (i) if such Event of Default shall have been cured and (ii) with the written consent of the Holders of a majority in aggregate principal amount of all the Bonds then-Outstanding, provided, however, that (a) there shall not be waived without the consent then outstanding and of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) Bank. In the case of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before such waiver or rescission, all arrears of interest, or all arrears of payments of principal when due, as the case may be, rescission and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, have been paid or provided for. In case of any such waiver or rescissionannulment, or in case any proceeding suit, action or proceedings taken by the Trustee on account of any such default has Event of Default shall have been discontinued or discontinued, abandoned or determined adversely, then and in every such case adversely to it; the CityIssuer, the DeveloperTrustee, the Trustee Bank and the Owners Holders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such . No waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Subject to the next paragraph and to the last two paragraphs of Section 9.03, which shall apply at all times with respect to any Bonds then secured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default hereunder and rescind its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only shall 65 do so upon the written request of the Owners of at least 50% not less than a majority in aggregate principal amount of all the Bonds then-then Outstanding, ; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of of, or premium on, any Outstanding Bonds when due (whether at the date of maturity or redemption specified thereinby redemption), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or and rescission, all arrears of interestprincipal of and interest upon such Bonds, or and interest on overdue principal at the rate borne by the Bonds on the date on which such principal became due and payable, and all arrears of payments of principal premium, if any, when due, as together with the case may be, and all reasonable expenses of the Trustee and of the City (Owners of such Bonds, including reasonable attorneys’ fees and expenses)paid or incurred, in connection with such default, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereon. All waivers under this Indenture shall be in writing and all rightsa copy thereof shall be delivered to the Issuer, remedies the Borrower, the Remarketing Agent and powers of the Trustee shall continue as if no such proceedings had been taken.the

Waivers of Events of Default. The Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of principal, and interest, if any, on the Bonds, but only shall do so upon the written request of (a) the Owners holders of at least 50% (i) a majority in aggregate principal amount of all the Bonds then-Outstandingthen outstanding in respect of which an Event of Default in the payment of principal or interest exists, or (ii) a majority in aggregate principal amount of all Bonds then outstanding in case of any other default or Event of Default, and (b) prior to the Expiration Date of the Letter of Credit, the Bank; provided, however, that (a) there shall not be waived without the consent of the City an any Event of Default hereunder arising from an Event after the Trustee has drawn on the Letter of Default under Section 12.1(a) (but only as it relates Credit to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) provide funds for the payment of the Leaseprincipal of, and (b) the interest on, the Bonds called for redemption pursuant to Section 1102; and there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1A) any an Event of Default in respect of any failure in the payment of the principal of any Outstanding outstanding Bonds when due (due, whether at the date of maturity or redemption specified therein), by acceleration or by call for redemption, or (2B) any an Event of Default in respect of any failure in the payment when due of the interest on any such Bonds, Bonds unless before prior to such waiver or rescission, all arrears of interest, or all arrears of payments of principal when dueprincipal, redemption premium and interest (with interest to the extent permitted by law at the rate borne by the Bonds in respect of which such failure shall have occurred on overdue installments of interest), as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses)Trustee, in connection with such defaultEvent of Default, shall have been paid or provided for. In case of any such waiver or rescission, rescission or in case any proceeding taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperTrustee, the Trustee Bank and the Owners bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other defaultEvent of Default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interestof, premium, if any, and interest on the Bonds, but only Bonds upon the written request of the Owners holders of at least 50% a majority in aggregate principal amount of all the Bonds then-Outstanding, then Outstanding with respect to which there is an Event of Default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any Event of Default default in the payment of the principal amount of any Outstanding Bonds when due (whether at the date of maturity specified therein or redemption specified therein)upon proceedings for mandatory redemption, or (2b) any Event of Default default in the payment when due of the interest or premium, if any, on any such Bonds, unless before prior to such waiver or rescission, rescission all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds in respect of which such Event of Default shall have occurred on overdue installments of interest or all arrears of payments of principal or premium, if any, when due, due (whether at the stated maturity thereof or upon proceedings for mandatory redemption) as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such monetary default, shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperBorrower, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, hereunder respectively, but no . No such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereto; and all rights, remedies and powers no delay or omission of the Trustee or of any Bondholders to exercise any right or power accruing upon any Event of Default shall continue as if no impair any right or power or shall be construed to be a waiver of any such proceedings had been takenEvent of Default, or acquiescence therein.

Waivers of Events of Default. The Subject to the next paragraph and to the last two paragraphs of Section 9.03, which shall apply at all times with respect to any Series of Bonds then secured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default with respect to a Series of Bonds hereunder and rescind its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only shall do so upon the written request of the Owners of at least 50% not less than a majority in aggregate principal amount of all the Bonds then-of such Series then Outstanding, ; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of of, or premium on, any Outstanding Bonds when due (whether at the date of maturity or redemption specified thereinby redemption), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or and rescission, all arrears of interestprincipal of and interest upon such Bonds, or and interest on overdue principal at the rate borne by the Bonds on the date on which such principal became due and payable, and all arrears of payments of principal premium, if any, when due, as together with the case may be, and all reasonable expenses of the Trustee and of the City (Owners of such Bonds, including reasonable attorneys’ fees and expenses)paid or incurred, in connection with such default, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Borrower, the Remarketing Agent and the Auction Agent. The provisions of Sections 9.01 and 9.02 hereof are subject to the conditions that if, after the principal of all Bonds of any Series then Outstanding shall have been declared to be due and payable, all arrears of principal of and interest upon such Bonds, and the premium, if any, on all Bonds of such Series then Outstanding which shall have become due and payable otherwise than by acceleration, and all rightsother sums payable under this Indenture, remedies except the principal of, and powers interest on, the Bonds of such Series which by such declaration shall have become due and payable, shall have been paid by or on behalf of the Issuer, together with the reasonable expenses of the Trustee shall continue as and of the Owners of such Bonds of such Series, including reasonable attorneys’ fees paid or incurred, and if no other defaults shall have occurred and be continuing, and, to the extent that a Letter of Credit is then in effect with respect to any Series of Bonds, the amount available for interest draws under such proceedings had Letter of Credit shall have been takenreinstated by the Bank in writing, then and in every such case, the Trustee shall, with the consent of the Bank or the Bond Insurer, as applicable (except in the event of a Bank Default or an Insurer Default with respect to the applicable Series of Bonds), annul such declaration of maturity and its consequences, which waiver and annulment shall be binding upon all Holders of Bonds of such Series; but no such waiver, rescission and annulment shall extend to or affect any subsequent default or impair any right or remedy consequent thereon. In the case of any such annulment, the Borrower, the Issuer, the Trustee and the Holders of the Bonds of such Series shall be restored to their former positions and rights under this Indenture. All waivers and annulments under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Bond Insurer, the Bank, the Borrower, the Remarketing Agent and the Auction Agent, as applicable.

Waivers of Events of Default. The Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity acceleration of principal of and interest, if any, on the Bonds, but only upon the written request of the Owners Holders of at least 50% a majority in aggregate principal amount of all of the Bonds then-Outstanding, provided, however, Outstanding 2014A Bonds; and provided that (a) there shall not be waived without the consent of the City an Event of any Default hereunder arising from an Event of Default under Section 12.1(aspecified in subsection (a) (but only as it relates to Additional Rent), or (b) (but only as it relates of Section 7.01 hereof unless prior to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before such waiver or rescission, the Issuer shall have caused to be paid to the Trustee (i) all arrears of interestprincipal and interest (other than principal of or interest on the Series of 2014A Bonds which became due and payable by declaration of acceleration), or all arrears of payments of principal when duewith interest at the rate then borne by the 2014A Bonds on overdue installments, as to the case may beextent permitted by law, and (ii) all reasonable outstanding fees and expenses of the Trustee and the City (including reasonable attorneys’ fees fees, costs and expenses), ) in connection with such default, have been paid or provided forDefault. In case of any such waiver or rescissionrescission described above, or in case any proceeding taken by the Trustee on account of any such default has Default shall have been discontinued or abandoned concluded or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners of 2014A Bonds shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other defaultDefault, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been taken.thereon.‌

Waivers of Events of Default. The Trustee shall may, at its discretion, waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interestand, if anynotwithstanding anything to the contrary in Section 6.02 hereof, on the Bonds, but only shall do so upon the written request of the Owners of at least 50% (i) not less than a majority in aggregate principal amount of all Outstanding Bonds in respect of which an Event of Default in the payment of any Debt Service Requirements of the Bonds then-Outstandingexists, or (ii) not less than a majority in aggregate principal amount of all Outstanding Bonds in the case of any other Event of Default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal Debt Service Requirements of any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or rescission, all arrears of principal and interest, or all arrears of payments of principal when due, as the case may be, and all reasonable fees and expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such defaultEvent of Default or otherwise in connection with the performance of the Trustee’s duties hereunder, shall have been paid or provided for. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperDistrict, the Trustee and the Owners of the Bonds shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereon and all rightsthereon. Notice of Defaults Under Section 6.01(c); Opportunity of District to Cure Such Defaults. Anything herein to the contrary notwithstanding, remedies and powers no default under Section 6.01(c) hereof shall constitute an Event of Default until actual notice of such default by registered or certified mail shall be given to the District by the Trustee or by the Owners of not less than 25% in aggregate principal amount of all Outstanding Bonds, and the District shall continue as have had 30 days after receipt of such notice to correct said default or cause said default to be corrected, and shall not have corrected said default or caused said default to be corrected within the applicable period; provided, however, if no said default is such proceedings had been takenthat it cannot be corrected within the applicable period, it shall not constitute an Event of Default if corrective action is instituted by the District within the applicable period and diligently pursued until the default is corrected.

Waivers of Events of Default. The Subject to the next paragraph and to the last two paragraphs of Section 9.03, which shall apply at all times with respect to any Bonds then secured by a Letter of Credit or Bond Insurance, the Trustee shall may in its discretion waive any Event of Default hereunder and rescind its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only shall do so upon the written request of the Owners of at least 50% not less than a majority in aggregate principal amount of all the Bonds then-then Outstanding, ; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of of, or premium on, any Outstanding Bonds when due (whether at the date of maturity or redemption specified thereinby redemption), or (2) any Event of Default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or and rescission, all arrears of interestprincipal of and interest upon such Bonds, or and interest on overdue principal at the rate borne by the Bonds on the date on which such principal became due and payable, and all arrears of payments of principal premium, if any, when due, as together with the case may be, and all reasonable expenses of the Trustee and of the City (Owners of such Bonds, including reasonable attorneys’ fees and expenses)paid or incurred, in connection with such default, shall have been paid or provided for; provided further, there shall not be waived any Event of Default in the payment when due of any purchase prices of any Bonds pursuant to Article IV hereof, unless prior to such waiver and rescission all arrears of such purchase prices, together with reasonable expenses of the Trustee and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, shall have been paid or provision therefor made. In the case of any such waiver or and rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or and rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Borrower, the Remarketing Agent and the Auction Agent. The provisions of Sections 9.01 and 9.02 hereof are subject to the conditions that if, after the principal of all Bonds then Outstanding shall have been declared to be due and payable, all arrears of principal of and interest upon such Bonds, and the premium, if any, on all Bonds then Outstanding which shall have become due and payable otherwise than by acceleration, and all rightsother sums payable under this Indenture, remedies except the principal of, and powers interest on, the Bonds which by such declaration shall have become due and payable, shall have been paid by or on behalf of the Issuer, together with the reasonable expenses of the Trustee shall continue as and of the Owners of such Bonds, including reasonable attorneys’ fees paid or incurred, and if no other defaults shall have occurred and be continuing, and, to the extent that a Letter of Credit is then in effect with respect to any Bonds, the amount available for interest draws under such proceedings had Letter of Credit shall have been takenreinstated by the Bank in writing, then and in every such case, the Trustee shall, with the consent of the Bank or the Bond Insurer, as applicable pursuant to Section 9.03, annul such declaration of maturity and its consequences, which waiver and annulment shall be binding upon all Bondholders; but no such waiver, rescission and annulment shall extend to or affect any subsequent default or impair any right or remedy consequent thereon. In the case of any such annulment, the Borrower, the Issuer, the Trustee and the Bondholders shall be restored to their former positions and rights under this Indenture. All waivers and annulments under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer, the Bond Insurer, the Bank, the Borrower, the Remarketing Agent and the Auction Agent, as applicable.

Waivers of Events of Default. The Trustee shall may waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interestand, if anysubject to the Trustee’s right to require satisfactory indemnification pursuant to Section 12.01(l), on the Bonds, but only shall do so upon the written request of the Owners owners of at least (a) more than 50% in aggregate principal amount of the Notes then Outstanding in respect of which default in the payment of principal or interest, or both, exists, or (b) more than 50% in aggregate principal amount of all Notes then Outstanding in the Bonds then-Outstanding, case of any other Event of Default; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default in the payment of the principal of any Outstanding Bonds when due (whether Notes at the date of maturity specified therein or redemption specified therein), or (2) any Event of Default in the payment when due of the interest on any such BondsNotes unless, unless before prior to such waiver or rescission, all arrears of interest, interest or all arrears of payments of principal when due, as with interest on overdue principal at the case may berate borne by the Notes, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), Initial Owner in connection with such defaultEvent of Default, shall have been paid or provided for. In case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperTrustee, the Trustee Initial Owner and the Owners Noteholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Trustee shall may in its discretion waive any Event event of Default default hereunder and its consequences and rescind any declaration of maturity acceleration of principal of and interest, if any, interest on the Bonds, but only and shall do so upon the written request of the Owners owners of at least 50% (1) a majority in aggregate principal amount of all the Bonds then-Outstandingthen outstanding in respect of which default in the payment of principal and premium, if any, and interest, or any of them, exists, or (2) a majority in aggregate principal amount of all the Bonds then outstanding in the case of any other default; provided, however, that (a) there shall not be waived without the consent any event of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) any Event of Default default in the payment of the principal of or premium on any Outstanding outstanding Bonds when due (whether at the date of maturity or redemption specified thereinupon redemption), or (2) any Event event of Default default in the payment when due of the interest on any such Bonds, unless before prior to such waiver or rescission, and rescission all arrears of interest, or principal and interest with interest at the rate borne by the Bonds on overdue principal and (to the extent permitted by law) on overdue installments of interest and all arrears of payments of principal when due, as the case may bepremium, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, have been paid or provided for. In the case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Bondholders shall be restored to their former positions, rights and obligations hereunder, hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon thereon. All waivers under this Indenture shall be in writing and a copy thereof shall be delivered to the Issuer. Section 910. Notice of Defaults under Section 901(c); Opportunity of the Company to Cure Defaults. Anything herein to the contrary notwithstanding, no default under Section 901(c) hereof shall constitute an event of default until actual notice of such default by registered or certified mail shall be given to the Issuer and the Company by the Trustee or by the owners of not less than a majority in aggregate principal amount of all Bonds outstanding, and the Issuer and the Company shall have had 30 days after receipt of such notice to correct said default or cause said default to be corrected, and shall not have corrected said default or caused said default to be corrected within the applicable period; provided, however, if said default be such that it cannot be corrected within the applicable period, it shall not constitute an event of default if corrective action is instituted within the applicable period and diligently pursued until the default is corrected, but in no event more than 90 days after receipt of such notice. With regard to any default concerning which notice is given to the Issuer and the Company under the provisions of this Section, the Issuer hereby grants the Company full authority for account of the Issuer to perform or observe any covenant or obligation alleged not to have been performed or observed, in the name and stead of the Issuer with full power to do any and all rights, remedies things and powers of acts to the Trustee shall continue as if no same extent that the Issuer could do in order to remedy such proceedings had been takendefault.

Waivers of Events of Default. The Trustee shall may waive with the written consent of the Initial Purchaser any Event of Default hereunder that has been remedied and any Event of Default (and its consequences consequences) relating to a default in the performance or observance of any covenant, agreement or condition contained in the Indenture, or a breach of a representation or warranty made by the Issuer in the Indenture or in any certificate or report furnished under the Indenture, or the occurrence of any "event of default" under the contracts and rescind related documents governing the transfer and servicing of the Loans and other matters relating to the issuance of the Notes. The Trustee may waive any declaration other Event of maturity of principal of Default that has occurred and interest, if any, on the Bonds, but is continuing only upon the written request of the Owners of at least 50% in aggregate principal amount of all the Bonds then-Outstanding, Required Noteholders; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1x) any Event of Default in the payment of the principal of any Outstanding Bonds outstanding Notes when due (whether at the date of maturity or redemption specified therein), or (2y) any Event of Default default in the payment when due of the interest on any such BondsNotes unless, unless before prior to such waiver or rescission, all arrears of interest, interest or all arrears of payments of principal when due, as with interest on overdue principal and, to the case may beextent permitted by applicable law, interest at the Default Rate, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, Event of Default shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Noteholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereon thereon. Any waivers made by the Trustee pursuant to this Section shall be in writing and all rights, remedies shall specify the nature of the Event of Default and powers the effective date of the waiver and the Trustee shall continue as if no send a copy of all such proceedings had been taken.waivers to the Noteholders and the Rating Agency. ARTICLE X

Waivers of Events of Default. The Trustee shall may in its discretion waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of principal, and interest, if any, on the Bonds, but only shall do so upon the written request of (a) the Owners holders of at least 50% (i) a majority in aggregate principal amount of all the Bonds then-Outstandingthen outstanding in respect of which an Event of Default in the payment of principal or interest exists, or (ii) a majority in aggregate principal amount of all Bonds then outstanding in case of any other default or Event of Default and (b) prior to the Expiration Date of the Letter of credit, the Bank; provided, however, that (a) there shall not be waived without the consent of the City an any Event of Default hereunder arising from an Event after the Trustee has drawn on the Letter of Default under Section 12.1(a) (but only as it relates Credit to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) provide funds for the payment of the Lease, principal of and (b) interest on the Project Bonds called for redemption pursuant to section 8.02 of this Indenture; and there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any an Event of Default in respect of any failure in the payment of the principal of any Outstanding outstanding Bonds when due (due, whether at the date of maturity or redemption specified therein), by acceleration or by call for redemption or (2b) any an Event of Default in respect of any failure in the payment when due of the interest on any such Bonds, Bonds unless before prior to such waiver or rescission, all arrears of interest, or all arrears of payments of principal when dueprincipal, premium and interest (with interest to the extent permitted by law at the rate borne by the Bonds in respect of which such failure shall have occurred on overdue installments of interest), as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses)Trustee, in connection with such defaultEvent of Default, shall have been paid or provided for. , In case of any such waiver or rescission, rescission or in case any proceeding taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperTrustee, the Trustee Bank and the Owners Bondholders shall be restored to their former positions, positions and rights and obligations hereunder, hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other defaultEvent of Default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only upon the written request of the Owners of at least 50% a majority in aggregate principal amount of all the Bonds then-then Outstanding, provided, however, ; provided that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the written consent of the Owners of all the Bonds Outstanding (1a) any Event of Default in the payment of the principal of any Outstanding Bonds when due at their maturity, upon the redemption (whether at including as a result of acceleration) or tender thereof, (b) any Event of Default under Section 801(e) or (g) hereof (but, with respect to paragraph (g), only with respect to a default under Section 801(e) of the date of maturity or redemption specified therein)Series 1994B Indenture) unless the Credit Enhancer shall have given written notice to the Trustee that the Credit Facility has been reinstated in full, or (2c) any Event of Default in the payment when due of the interest on any such BondsBonds unless, unless before prior to such waiver or rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds on overdue installments of interest in respect of which such default shall have occurred, or all arrears of payments of principal when due, as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, Event of Default shall have been paid or provided for; provided further that there shall not be waived without the written consent of the Credit Enhancer any Event of Default under Section 801(e)(ii) or (g) hereof (but, with respect to paragraph (g), only with respect to a default under Section 801(e)(ii) of the Series 0000X Xxxxxxxxx); and provided further that no Event of Default shall be waived without the written consent of the Credit Enhancer if it has honored all its obligations under the Credit Facility. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperBorrower, the Trustee Trustee, the Bondowners and the Owners Credit Enhancer shall be restored to their former positions, rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Subject to Section 814, the Trustee shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, on the Bonds, but only upon the written request of the Owners of at least 50% a majority in aggregate principal amount of all the Bonds then-then Outstanding, provided, however, ; provided that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1a) any Event of Default in the payment of the principal of any Outstanding Bonds when due at their maturity, (whether at b) any Event of Default in the date payment of maturity or redemption specified therein)the purchase price of any Outstanding Bonds, or (2c) any Event of Default in the payment when due of the interest on any such BondsBonds unless, unless before prior to such waiver or rescission, all arrears of interest, with interest (to the extent permitted by law) at the rate borne by the Bonds on overdue installments of interest in respect of which such default shall have occurred, or all arrears of payments of principal when due, as the case may be, and all reasonable fees, charges and expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, Event of Default shall have been paid or provided for; and, provided further, the Trustee shall not waive an Event of Default described in Section 801(g) unless the Trustee has received written notification from the Letter of Credit Provider consenting to such waiver and stating that the Event of Bankruptcy has been discharged or dismissed and that the Letter of Credit has been reinstated in full. In case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default Event of Default has been discontinued or abandoned or determined adversely, then and in every such case the CityIssuer, the DeveloperLessee, the Trustee Trustee, the Bondowners and the Owners Letter of Credit Provider shall be restored to their former positions, rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been takenthereon.

Waivers of Events of Default. The Trustee Trustee, with the prior written consent of the Bank, shall waive any Event of Default hereunder and its consequences and rescind any declaration of maturity of principal of and interest, if any, interest on the Bonds, but only Bonds upon the written request of the Owners holders of at least 50% in a majority of the aggregate principal amount of all the Bonds then-then Outstanding, ; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1A) any Event of Default default in the payment of the principal of any Outstanding Bonds when due (whether Bond at the date of maturity or redemption specified therein), or upon proceedings for mandatory redemption, (2B) any Event of Default requiring a draw under the Letter of Credit unless the Trustee shall have received written notice from the Bank that the Letter of Credit has been reinstated to its full stated amount, if there has been a reduction thereon, or (C) any default in the payment when due of the interest or premium on any such Bonds, unless before prior to such waiver or rescission, rescission all arrears of interest, with interest (to the extent permitted by law) at the rate bond by the Bonds in respect of which such default shall have occurred on overdue installments of interest or all arrears of payments of principal when due, due (whether at the stated maturity thereof or upon proceedings for redemption) as the case may be, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, shall have been paid or provided for, and no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereto. In The Trustee shall not grant any waiver or rescission hereunder unless all ordinary and extraordinary fees and expenses of the Trustee, including, but not limited to, reasonable attorneys' fees, incurred in connection with said default have been paid or provided for, and in case of any such waiver or rescission, or in case any proceeding taken by the Trustee on account of any such default has shall have been discontinued or abandoned or determined adversely, then then, and in every such case the Citycase, the DeveloperIssuer, the Trustee Trustee, the Bank and the Owners Bondholders, respectively, shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, or impair any right consequent thereon and all rights, remedies and powers of the Trustee shall continue as if no such proceedings had been taken.

Waivers of Events of Default. The Trustee shall may in its discretion waive any Event (of Default hereunder and its consequences consequences, and rescind any declaration of maturity of principal of and interest, if any, notwithstanding anything else to the contrary contained in this Indenture shall do so on the Bonds, but only upon the written request of the Owners of at least 50% a majority in aggregate principal amount of all the Bonds then-then Outstanding, ; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all 100% of the Bonds then Outstanding as to which the Event of Default exists (1a) any Event of Default in the payment of the principal of or premium on any Outstanding Bonds when due (whether at the date of maturity or redemption specified therein), therein or (2b) any Event of Default default in the payment when due of the interest on any such Bonds, unless before therefore such waiver or rescission, all arrears of interest, or interest and all arrears of payments of principal when and premium, if any, then due, as the case may bebe (both with interest on all overdue installments at the rate borne by the Bonds), and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, default shall have been paid or provided for. In case of any such waiver or rescissionwaiver, or in case any proceeding proceedings taken by the Trustee on account of any such default has Default have been discontinued or abandoned or determined adverselyadversely to the Trustee, then and in every such case the CityIssuer, the DeveloperCompany, the Trustee and the Owners shall be restored to their former positions, positions and rights and obligations hereunder, hereunder respectively, but no such waiver or rescission shall extend to any subsequent or other defaultDefault, or impair any right consequent thereon thereon. Notwithstanding anything in the foregoing to the contrary, (a) an Event of Default under Section 7.01(d) may be waived only if the Trustee receives written notice from the Credit Provider that the Credit Facility has been restored to the Coverage Amount and all rights, remedies and powers (b) an Event of Default under Section 7.01(e) may not be waived without the consent of the Trustee shall continue as if no such proceedings had been takenCredit Provider.

Waivers of Events of Default. The Trustee shall may waive any Event of Default hereunder that has been remedied and any Event of Default (and its consequences consequences) relating to a default in the performance or observance of any covenant, agreement or condition contained in the Indenture, or a breach of a representation or warranty made by the Issuer in the Indenture or in any certificate or report furnished under the Indenture, or the occurrence of any "event of default" under the contracts and rescind related documents governing the transfer and servicing of the Loans and other matters relating to the issuance of the Notes. The Trustee may waive any declaration other Event of maturity of principal of Default that has occurred and interest, if any, on the Bonds, but is continuing only upon the written request of the Owners of at least 50% in aggregate principal amount of all the Bonds then-Outstanding, Required Noteholders; provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under Section 12.1(a) (but only as it relates to Additional Rent), (b) (but only as it relates to Unassigned Rights), (c) or (d) of the Lease, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1x) any Event of Default in the payment of the principal of any Outstanding Bonds outstanding Notes when due (whether at the date of maturity or redemption specified therein), or (2y) any Event of Default default in the payment when due of the interest on any such BondsNotes unless, unless before prior to such waiver or rescission, all arrears of interest, interest or all arrears of payments of principal when due, as with interest on overdue principal and, to the case may beextent permitted by applicable law, interest at the Applicable Remittance Rate, and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, Event of Default shall have been paid or provided for. In , and in case of any such waiver or rescission, or in case any proceeding proceedings taken by the Trustee on account of any such default has Event of Default shall have been discontinued or abandoned or determined adversely, then and in every such case the City, the DeveloperIssuer, the Trustee and the Owners Noteholders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereon thereon. Any waivers made by the Trustee pursuant to this Section shall be in writing and all rights, remedies shall specify the nature of the Event of Default and powers the effective date of the waiver and the Trustee shall continue as if no send a copy of all such proceedings had been taken.waivers to the Noteholders and the Rating Agency. TRUST INDENTURE - Page 38 ARTICLE X

Waivers of Events of Default. The Trustee shall Except as hereinafter provided, at any time, in its discretion, the Trustee, but only with the express written consent of the Bank, other than in the case of an Event of Default described in Section 7.01(a), (b), (c), (g) or (h) hereof, may waive any Event of Default hereunder and its consequences and may rescind and annul any declaration of maturity of principal of and interest, if any, on the Bonds, but only . The Trustee shall do so upon the written request of the Owners Bank (other than in the case of at least 50% in aggregate principal amount of all the Bonds then-Outstanding, provided, however, that (a) there shall not be waived without the consent of the City an Event of Default hereunder arising from an Event of Default under described in Section 12.1(a) 7.01 (but only as it relates to Additional Renta), (b) (but only as it relates to Unassigned Rights), (c), (g) or (dh) of hereof). Notwithstanding the Leaseforegoing, and (b) there shall not be waived without the consent of the Owners of all the Bonds Outstanding (1) prior to waiving any Event of Default described in Section 7.01(f) or (i) hereof, the payment Trustee shall have received written confirmation from the Bank that the Letter of Credit has been reinstated to an amount not less than 100% of the outstanding principal of any Outstanding of, plus 45 days interest (or 195 days interest if the Interest Rate Mode on the Project Bonds when due (whether is six months or longer) on, the Project Bonds computed at the date of maturity or redemption specified therein)Maximum Rate. There shall not be so waived, or (2) however, any Event of Default described in paragraphs (a), (b), (c), (g) or (h) of Section 7.01 hereof or any declaration of acceleration in connection therewith rescinded or annulled except with the payment when due written consent of the interest on any such Bonds, unless before such Holders of all Bonds then outstanding and of the Bank. In the case of the waiver or rescission, all arrears of interest, or all arrears of payments of principal when due, as the case may be, rescission and all reasonable expenses of the Trustee and the City (including reasonable attorneys’ fees and expenses), in connection with such default, have been paid or provided for. In case of any such waiver or rescissionannulment, or in case any proceeding suit, action or proceedings taken by the Trustee on account of any such default has Event of Default shall have been discontinued or discontinued, abandoned or determined adversely, then and in every such case adversely to it; the CityIssuer, the DeveloperTrustee, the Trustee Bank and the Owners Holders shall be restored to their former positions, positions and rights and obligations hereunder, respectively, but no such . No waiver or rescission shall extend to any subsequent or other default, Event of Default or impair any right consequent thereon and all rights, remedies and powers thereon. (End of the Trustee shall continue as if no such proceedings had been taken.Article VII) 106 ARTICLE VIII