Mandatory Purchase. (a) If an Event of Default described in paragraph (a), (b), (c), (e)(i) or (g) (except, with respect to paragraph (g), a default under Section 801(d), (e)(ii) or (f) of the Series 1994B Indenture) of Section 801 hereof shall have occurred and be continuing, the Trustee shall, by notice in writing delivered to the Issuer, the Borrower and the Credit Enhancer, declare the principal of all Bonds then Outstanding and the interest accrued thereon immediately due and payable, and the Bonds shall cease to bear interest on such date; subject, however, to subparagraph (b) hereof. The principal and interest shall thereupon become due and payable on a date established by the Trustee, which date shall not be more than ten (10) calendar days after such acceleration. If an Event of Default described in paragraph (e)(ii) or (g) (but, with respect to paragraph (g), only with respect to a default under Section 801(e)(ii) of the Series ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇) of Section 801 hereof shall have occurred and be continuing, the Trustee shall, by notice in writing delivered to the Issuer, the Borrower and the Credit Enhancer, declare the principal of all Bonds then Outstanding and the interest accrued thereon due and payable on such date as the Trustee shall establish pursuant to Section 402(c) hereof, and the Bonds shall cease to bear interest on such date; subject, however, to subparagraph (b) hereof. If an Event of Default described in paragraph (d), (f) or (g) (but, with respect to paragraph (g), only with respect to a default under Section 801(d) or (f) of the Series 1994B Indenture) of Section 801 hereof, shall have occurred and be continuing, the Trustee, and may upon the written request of the Owners of not less than 25% in aggregate principal amount of the Bonds then Outstanding shall, but only with the prior written consent of the Credit Enhancer (unless the Credit Enhancer is in default under the Credit Facility in which case no such consent shall be required), by notice in writing delivered to the Issuer, the Borrower and the Credit Enhancer declare the principal of all Bonds then Outstanding and the interest accrued thereon immediately due and payable, and such principal and interest shall thereupon become and be immediately due and payable. Upon any acceleration of the maturity of the Bonds hereunder, the Trustee shall immediately demand payment under the Credit Facility to the extent permitted by the terms thereof and pursue the remedies of the Trustee thereunder. If, at any time after such declaration, but before the Bonds shall have matured by their terms, all overdue installments of principal of and interest on the Bonds, together with the reasonable and proper expenses of the Trustee, and all other sums then payable by the Issuer under this Indenture shall either be paid or provision satisfactory to the Trustee shall be made for such payment, then and in every such case the Trustee shall, but only with the approval of the Credit Enhancer and the Owners of not less than a majority in aggregate principal amount of the Bonds Outstanding, and upon the reinstatement of the Credit Facility, rescind such declaration and annul such default in its entirety. In such event, the Trustee shall rescind any declaration of acceleration of the Loan Payments as provided in Section 8.2 of the Agreement. In case of any rescission, then and in every such case the Issuer, the Trustee and the Bondowners shall be restored to their former positions, rights and obligations hereunder, respectively, but no such rescission shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.
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Mandatory Purchase. (a) If an Event of Default described in paragraph (a), (b), (c), (e)(i) or (g) (except, with respect to paragraph (g), a default under Section 801(d), (e)(ii) or (f) of the Series 1994B Indenture▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇) of Section 801 hereof shall have occurred and be continuing, the Trustee shall, by notice in writing delivered to the Issuer, the Borrower and the Credit Enhancer, declare the principal of all Bonds then Outstanding and the interest accrued thereon immediately due and payable, and the Bonds shall cease to bear interest on such date; subject, however, to subparagraph (b) hereof. The principal and interest shall thereupon become due and payable on a date established by the Trustee, which date shall not be more than ten (10) calendar days after such acceleration. If an Event of Default described in paragraph (e)(ii) or (g) (but, with respect to paragraph (g), only with respect to a default under Section 801(e)(ii803(e)(ii) of the Series ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇) of Section 801 hereof shall have occurred and be continuing, the Trustee shall, by notice in writing delivered to the Issuer, the Borrower and the Credit Enhancer, declare the principal of all Bonds then Outstanding and the interest accrued thereon due and payable on such date as the Trustee shall establish pursuant to Section 402(c) hereof, and the Bonds shall cease to bear interest on such date; subject, however, to subparagraph (b) hereof. If an Event of Default described in paragraph (d), (f) or (g) (but, with respect to paragraph (g), only with respect to a default under Section 801(d) or (f) of the Series 1994B Indenture▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇) of Section 801 hereof, shall have occurred and be continuing, the Trustee, and Trustee may upon the written request of the Owners of not less than 25% in aggregate principal amount of the Bonds then Outstanding shall, but only with the prior written consent of the Credit Enhancer (unless the Credit Enhancer is in default under the Credit Facility in which case no such consent shall be required), by notice in writing delivered to the Issuer, the Borrower and the Credit Enhancer declare the principal of all Bonds then Outstanding and the interest accrued thereon immediately due and payable, and such principal and interest shall thereupon become and be immediately due and payable. Upon any acceleration of the maturity of the Bonds hereunder, the Trustee shall immediately demand payment under the Credit Facility to the extent permitted by the terms thereof and pursue the remedies of the Trustee thereunder. If, at any time after such declaration, but before the Bonds shall have matured by their terms, all overdue installments of principal of and interest on the Bonds, together with the reasonable and proper expenses of the Trustee, and all other sums then payable by the Issuer under this Indenture shall either be paid or provision satisfactory to the Trustee shall be made for such payment, then and in every such case the Trustee shall, but only with the approval of the Credit Enhancer and the Owners of not less than a majority in aggregate principal amount of the Bonds Outstanding, and upon the reinstatement of the Credit Facility, rescind such declaration and annul such default in its entirety. In such event, the Trustee shall rescind any declaration of acceleration of 6f the Loan Payments as provided in Section 8.2 of the Agreement. In case of any rescission, then and in every such case the Issuer, the Trustee and the Bondowners shall be restored to their former positions, rights and obligations hereunder, respectively, but no such rescission shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon.
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