Common use of Remedies of the Trustee and Holders on Event of Default Clause in Contracts

Remedies of the Trustee and Holders on Event of Default. Events of Default; Acceleration of Maturity; Rescission and Annulment. 16 SECTION 4.2. Collection of Indebtedness by Trustee; Trustee May Prove Debt. 17 SECTION 4.3. Application of Proceeds. 18 SECTION 4.4. Suits for Enforcement. 19 SECTION 4.5. Restoration of Rights on Abandonment of Proceedings. 19 SECTION 4.6. Limitations on Suits by Holders. 19 SECTION 4.7. Unconditional Right of Holders to Receive Principal and Interest. 20 SECTION 4.8. Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default. 20 SECTION 4.9. Control by Holders. 20 SECTION 4.10. Payments After a Default. 21 SECTION 5.1. Duties and Responsibilities of the Trustee. 21 SECTION 5.2. Certain Rights of the Trustee. 23 SECTION 5.3. Trustee Not Responsible for Recitals, Disposition of Debt Securities or Application of Proceeds Thereof. 25 SECTION 5.4. Trustee May Hold Debt Securities; Collections. 26 SECTION 5.5. Monies Held by Trustee. 26 SECTION 5.6. Compensation and Indemnification of Trustee and Its Prior Claim. 26 SECTION 5.7. Right of Trustee to Rely on Officer’s Certificate. 27 SECTION 5.8. Persons Eligible for Appointment as Trustee. 27

Remedies of the Trustee and Holders on Event of Default. Events of Default; Acceleration of Maturity; Rescission and Annulment. 16 Annulment 20 SECTION 4.2. Collection of Indebtedness by Trustee; Trustee May Prove Debt. 17 Debt 20 SECTION 4.3. Application of Proceeds. 18 Proceeds 21 SECTION 4.4. Suits for Enforcement. 19 Enforcement 22 SECTION 4.5. Restoration of Rights on Abandonment of Proceedings. 19 Proceedings 22 SECTION 4.6. Limitations on Suits by Holders. 19 Holders 23 SECTION 4.7. Unconditional Right of Holders to Receive Principal and Interest. 20 Interest 23 SECTION 4.8. Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default. 20 Default 23 SECTION 4.9. Control by Holders. 20 Holders 24 SECTION 4.10. Payments After a Default. 21 Default 24 ARTICLE FIVE CONCERNING THE TRUSTEE SECTION 5.1. Duties and Responsibilities of the Trustee. 21 Trustee 25 SECTION 5.2. Certain Rights of the Trustee. 23 Trustee 26 SECTION 5.3. Trustee Not Responsible for Recitals, Disposition of Debt Securities or Application of Proceeds Thereof. 25 Thereof 29 SECTION 5.4. Trustee May Hold Debt Securities; Collections. 26 Collections 29 SECTION 5.5. Monies Held by Trustee. 26 Trustee 29 SECTION 5.6. Compensation and Indemnification of Trustee and Its Prior Claim. 26 Claim 29 SECTION 5.7. Right of Trustee to Rely on Officer’s Certificate. 27 Certificate 30 SECTION 5.8. Persons Eligible for Appointment as TrusteeTrustee 30 SECTION 5.9. 27Resignation and Removal; Appointment of Successor Trustee 30 SECTION 5.10. Acceptance of Appointment by Successor Trustee 31 SECTION 5.11. Merger, Conversion, Consolidation or Succession to Business of Trustee 33 SECTION 5.12. Appointment of Co-Trustee 33 ARTICLE SIX CONCERNING THE HOLDERS SECTION 6.1. Evidence of Action Taken by Holders 34 SECTION 6.2. Proof of Execution of Instruments and of Holding of Debt Securities 34 SECTION 6.3. Holders to Be Treated as Owners 35 SECTION 6.4. Right of Revocation of Action Taken 35 ARTICLE SEVEN SUPPLEMENTAL INDENTURES SECTION 7.1. Supplemental Indentures Without Consent of Holders 36 SECTION 7.2. Supplemental Indentures with Consent of Holders 36 SECTION 7.3. Effect of Supplemental Indenture 36 SECTION 7.4. Documents to Be Given to Trustee 37 SECTION 7.5. Notation on Debt Securities in Respect of Supplemental Indentures 37 SECTION 8.1. Satisfaction and Discharge of Indenture 37 SECTION 8.2. Application by Trustee of Funds Deposited for Payment of Debt Securities 38 SECTION 8.3. Repayment of Monies Held by Paying Agent 38 SECTION 8.4. Return of Monies Held by Trustee or Other Paying Agent 38 ARTICLE NINE MISCELLANEOUS PROVISIONS SECTION 9.1. Public Officials of the Province Exempt from Individual Liability 39