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05-13-2020 Council Packet
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05-13-2020 Council Packet
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12316306v3 <br />-53- <br />(a)to give any notice to the Issuer or to the Trustee, or to give any direction to the <br />Trustee, or to make any request of the Trustee, or to consent to the waiving of any default <br />hereunder and its consequences, or to take any other action authorized to be taken by <br />Bondholders pursuant to any of the provisions of Article VII hereof; <br />(b)to remove the Trustee or appoint a successor Trustee pursuant to the provisions of <br />Article VIII hereof; <br />(c)subject to Article XI hereof, to consent to the execution of an indenture or <br />indentures supplemental hereto; <br />(d)subject to Article XII hereof, to consent to any amendment of the Loan <br />Agreement or the Mortgage or to any instrument supplemental thereto; or <br />(e)to take any other action authorized to be taken by or on behalf of the Holders of <br />any percentage of the outstanding Bonds under any other provisions of this Indenture or under <br />applicable law. <br />Any Bondholders' meeting may be called and held as follows: <br />(i)A meeting of Bondholders may be held at such place within the Issuer or <br />in the Issuer where the Trustee has its principal office as the Trustee or, in case of its <br />failure to act, the Issuer or Bondholders calling the meeting shall prescribe. <br />(ii)Notice of every meeting of Bondholders, setting forth the time and place <br />of such meeting and in general terms the action proposed to be taken at such meeting, <br />shall be published at least three (3) times in a financial journal, the first publication to be <br />not less than 20 nor more than 180 days prior to the date fixed for the meeting. At the <br />time of the first publication of such notice, the Trustee shall also mail, postage prepaid, a <br />copy of such notice to each owner of registered Bonds. Any failure of the Trustee to mail <br />such notice, or any defect therein shall not, however, in any way impair or affect the <br />validity of any such meeting. If all the Bonds outstanding are registered Bonds, no such <br />notice need be given except notice by mail as hereinabove provided. <br />(iii)In case at any time the Issuer, pursuant a Certified Resolution, or the <br />Holders of at least ten percent (10%) in aggregate principal amount of the Bonds then <br />outstanding, shall have requested the Trustee to call a meeting of the Bondholders, by <br />written request setting forth in reasonable detail the action proposed to be taken at the <br />meeting, and the Trustee shall not have made the first giving of the notice of such <br />meeting within 20 days after receipt of such request, then the Issuer or the Holders of <br />Bonds in the amount above specified may call such meeting to take any action authorized <br />in this Section by giving notice thereof as provided in paragraph (b) of this Section. <br />(iv)Only a Holder of one or more Bonds or a person appointed as proxy by an <br />instrument in writing of such Holder shall be entitled to vote at or to participate with their <br />counsel and the representatives of the Trustee or the Issuer in such meeting. Each Holder <br />shall be entitled to one vote for each $l,000 in principal amount of outstanding Bonds <br />held.
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