Judicial Proceedings by Trustee. Upon the happening and continuance of any Event of Default, then and in every such case the Trustee, in its discretion may and upon the written request of the Holders of at least twenty-five percent (25%) of the aggregate principal amount of the Bonds then Outstanding or the Bond Insurer (so long as no Bond Insurer Default exists) and receipt of indemnity to its satisfaction shall, and upon written request of the Authority if an Event of Default occurs pursuant to Section 9.01(c) of this Indenture shall: (a) exercise any and all rights or powers permitted to be taken or exercised by it or by the Authority under this Indenture, the Agreement, the Bonds, the First Mortgage Bonds, and any agreements related thereto; (b) by mandamus, or other suit, action or proceeding at law or in equity, enforce all rights of the Bondholders of the Bonds and require the Authority or the Company to carry out any agreements with or for the benefit of the Bondholders and to perform its or their duties under the Act, the Bonds, the First Mortgage Bonds, the Agreement, this Indenture and the Mortgage Indenture; (c) bring suit upon the Bonds; (d) by action or suit in equity, require the Authority to account as if it were the trustee of an express trust for the Bondholders of the Bonds; (e) by action or suit in equity, enjoin any acts or things which may be unlawful or in violation of the rights of the Bondholders of the Bonds; (f) exercise such rights as it may have as holder of the First Mortgage Bonds, including the right to demand redemption of the First Mortgage Bonds held by it; or (g) exercise, with respect to the security interest granted hereunder, all of the rights and remedies of a secured party under the New Jersey Uniform Commercial Code, including the sale of the First Mortgage Bonds.
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Judicial Proceedings by Trustee. Upon the happening and continuance of any Event of Default, then and in every such case the Trustee, Trustee in its discretion may may, and upon the written request of the Holders of at least twenty-five percent fifty per centum (2550%) of the aggregate principal amount of the Bonds then Outstanding or the Bond Insurer (so long as no Bond Insurer Default exists) and receipt of indemnity to its satisfaction shall, and upon written request of the Authority if an Event of Default occurs pursuant to Section 9.01(c8.01(c) of this Indenture shall:
(a) exercise any and all rights or powers permitted to be taken or exercised by it or by the Authority under this Indenture, the Agreement, the Bonds, the First Mortgage BondsNotes, and any agreements related thereto;
(b) by mandamus, or other suit, action or proceeding at law or in equity, enforce all rights of the Bondholders of the Bonds and require the Authority or the Company to carry out any agreements with or for the benefit of the Bondholders and to perform its or their duties under the Act, the Bonds, the First Mortgage BondsNotes, the Agreement, Agreement and this Indenture and the Mortgage Indenture;
(c) bring suit upon the Bonds;
(d) by action or suit in equity, equity require the Authority to account as if it were the trustee of an express trust for the Bondholders of the BondsBondholders;
(e) by action or suit in equity, equity enjoin any acts or things which may be unlawful or in violation of the rights of the Bondholders of the BondsBondholders;
(f) exercise such rights as it may have as holder of the First Mortgage BondsNotes, including the right to demand redemption accelerate payment of the First Notes;
(g) exercise such rights as it may have as holder of the Mortgage Bonds held by itand Assignment of Leases, including the right to seek the appointment of a receiver for the Project; or
(gh) exercise, with respect to the security interest granted hereunder, all of the rights and remedies of a secured party under the New Jersey State Uniform Commercial Code, including the sale of the First Mortgage Bonds.
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