RES 94045A - Laserfiche WebLink

cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing, az law or in equity or by statute or otherwise. Section 616. Application of Funds. All moneys received by the Trustee pursuant to any right given or action taken under either the provisions of this Article VI or of Article VIII of the Lease Agreement upon an event of default under such Lease Agreement, shall be deposited into the Payment Fund and be applied by the Trustee in the following order upon presentation of the several Bonds, and the stamping thereon of the payment if only partially paid, or upon the surcender thereof if fully paid: First, to the payment of the costs and expenses of the Trustee and of the Bond Owners in investigating and declaring such event of default and in enforcing the terms of this Agreement, the Lease Agreement and/or other agreements relating hereto or thereto, including compensation to it or their agents, attorneys and counsel; Second, to the payment to the persons entitled thereto of all installments of interest then due in the order of the maturiTy of such installment, and, if the amount available shall not be sufficient to pay in full any installment or installments maturing on the same date, then to the payment thereof ratably, according to the amounts due thereon, to the persons entitled theretq without any discrimination or preference; and Third, to the payment to the persons entitled thereto of the unpaid principal of any Bonds which shall have become due, whether at maturity or by call for redemption, in the order Of their due dates, with interest on the over due principal and interest at a rate equal to the interest rate paid on such Bonds and, if the amount available shall not be sufficient to pay in full all the amounts due with respect to the Bonds on any date, together with such interest, then to the payment thereof ratably, according to the amounts of principal due on such date to the persons entitled thereto, without any discrimination or preference. ARTICLE VII AMENDMENT; DEFEASANCE; ADMINISTRATIVE PROVISIONS Section 701. Amendment to Trust Agreement and Lease Agreement. The Trust Agreement may be amended in writing by agreement among all of the parties, but no such amendment (except as provided below) shall become effective as to the Owners of the Bonds then Outstanding unless and until approved by the Owners of a majority in aggregate principal amount of Bonds Outstanding; provided that no such amendment shall impair the right of any Owner to receive principal and interest in accordance with his Bond unless consented to by the applicable Bond Owner. Notwithstanding the foregoing, [he Trust Agreement and the rights and obligations provided thereby may also be modified or amended at any time without the consent of any Owners of the Bonds, but only 33 44069(IIM.L.41