HomeMy WebLinkAbout0090 funds to pay the cost of making additions, enlarqements, ;
expansions, modifications or changes in, on or to the Project ~
to be situated on the Mortgaged Property and on additional ~
acquired land, if necesary, but the Issuer may not be required ~
or compelled fio issue any such obligations and shall not ~
issue such Additional Parity Bonds if any party~hereto or (
to the documents of the Concurrent Parity Bonds are in any ?
way in default hereunder or thereunder. In the event that
the Issuer shall be willing to use its best efforts to issue i
and sell such Additional Parity Bonds the parties hereto
shall enter into an agreement suppZementing this Agreement,
in form acceptable to the Issuer's attorney, bond counsel
for the Issuer, and the Trustee's attorney, providing for `
the payment by the Company to the Trustee of additional sums -
- sufficient to pay debt service and expenses with respect
to such additional obligations on the same basis as provided
in Section 3.03 hereof with respect to the Bonds described
in Section 1.01 hereof and the respective sections of the
documents of the Concurrent Parity Bonds, and making all
other provisions and covenants herein contained applicable
to such Additional Parity Bonds except where dif£erent provisions
applicable to such Additional Parity Bonds shall have no
adverse effect-upon the interest of the h~lders of the Concurrent
Parity Bonds or the Bonds herein authorized then outstanding,
-and such Additional Parity Bonds shall have such terms and
be issued in the manner provided in the Resolution.
Provided, however, that Additional Parity Bonds shall not
be issued if holders of Bonds representing more than fifty
per cent (50$) of the then outstanding principal amount of .
Bonds and holders of Bonds representing more than fifty per
cent (50$) of the then outstanding principal amount of
Concurrent Parity Bonds object thereto in writing within
thirty (30) days of notice of the intention to issue
Additional Parity Bonds being mailed to all registered
holders of the Bonds and Concurrent Parity Bonds or within
thirty (30) days of notice of the intention to issue Additional -
Parity Bonds~being published in a financial journal in the
Borough of Manhattan, City and State of New York,
ARTICLE IX
• CONCERNING THE TRUSTEE
Section 9.01. ACCEPTANCE OF TRUSTS; LIABILITY. The
Trustee accepts the trusts and assumes the duties imposed
and created by this Agreement and by the Resolution. The ~
Trustee shall, prior to an event of default as defined in
Section 7.01, and after the curing of all such events of
default which may have occurred, be required to perform such
duties and only such duties as are specifically set forth
in this Agreement. The Trustee sha11, during the existence
of any such event of default (which has not been cured),
exerczse such of the rights and powers vested in it by this '
Agreement and use the same degree of care and skill in their
exercise as a prudent man would exercise or use under the
circumstances in the conduct of his own affairs.
No provisions of this Agreement shall be construed
to relieve~the Trustee from liability for its own negligent
action, its own negligent failure to act, or its own willful
misconduct, except that:
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