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HomeMy WebLinkAbout0036 1:9 shall be specifically notified in writing of such default ; by the Company, the Issuer or by the holders of at least twenty- t five per centum (25$) in aggregate principal amount of Bonds outstanding hereunder, and a11 notices or other instruments required by this Agreement to be delivered to the Trustee must, in order to be effective, be delivered at the principal office of the Trustee, and in the absence of such notice so delivered, the Trustee may conclusively assume that there is no default, except as aforesaid. Section 9.07. INTERVENTION ON BEHALF OF BONDHOLDERS. In any judicial proceeding to which the Company is a party i and which, in the opinion of the Trustee and its courisel, ± has a substantial bearing on the interests of owners of Bonds, ~ ; the Trustee may intervene on behalf of bondholders and shall do so if requested in writing by the owners of at least twenty- five per centum (25~) of the aggregate principal amount of Bonds outstanding hereunder. The rights and obligations of the Trustee under this Section are subject to the approval of the court ; having jurisdiction in the premises. ~ Section 9.08. RELEASE OF PROPERTY FROM LIEN OF THIS INSTRUMENT. The resolutions, opinions, certificates and other ; instruments provided for in this Agreement may be accepted by the Trustee as conclusive evidence of the facts and conclusions stated therein and shall be full protection and authority to the Trustee for the release of property and the withdrawal of such hereunder; but the Trustee may, in its unrestricted discretion, and shall, if requested•in writing so to do by the holders of not less than twenty-five per centum (25$) in ' aggregate principal amou`nt of Bonds then outstanding, cause ~ to be made such independent investigation as it may see fit, and in that event may decline to release such property or pay over such cash unless satisfied by such investigation of the truth and accuracy of the matters so investigated. The expense of such investigation shall be paid by the Company or, if paid by the Trustee, shall be reimbursed to the Trustee by the Company, and if the Company shall fail to make such reimbursement the Trustee may reinaburse itself from any moneys in its possession under the provisions of this Agreement and shall be entitled to a preference therefor over any of the Bonds or coupons then ~ outstanding. Section 9.09. PAYMENT OF GOVERNMENTAL CHARGES. In case the Company shall fail seasonably to pay or to cause to be paid any tax, assessments, or governmental or other charge upon any part of the trust estate, to the extent, if any, that the Company may be liable for same, the Trustee~may , pay such tax, assessment or governmental charge without prejudice, however, to any rights of the Trustee or the bond- ~ holders hereunder arising in consequence of such failure; and ' any amount at any time so paid under this Section shall be ~ repaid to the Trustee by the Company upon demand and, if not repaid by the Company, sha].l be given a preference in payment over any of the Bonds or coupons, and shall be paid out of the trust estate, but the Trustee shall be under no obligation to make any such payment unless it shall have been requested to do so by the holders of at least twenty-five per centum (25$) of the aggregate principal amount of Bonds then outstanding and shall have been provided with adequate funds for the purpose of such payment. ; . j 34 i a°aox~13 ~ ~ I - - ~ ;